Volution Group plc (FAN) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Great to see everyone, especially being a Friday. It was an interesting thought on our part how many would turn up. But we're really delighted to have you here this morning. This is our half-year results update. And in actual fact, standard format, we'll go through a bit of an overview. And you'll take you through the financial review. I'll come back and do a business review on the three geographic areas. Then we'll come back to summary and outlook, and at the end, Q&A. And I know from last sessions we've had quite a lot of in-depth questions, so we're very happy to reserve required time to do that. But overview. To start with, strong progress in the first half of the year. Our revenue is up 6.3% or more sensibly 8.7% on a constant currency basis, with organic up just under 1%. So operational excellence and pricing discipline has underpinned a further enhancement in our operating profit margin up to 22.4%. We'll take you through a little bit more detail on how we've delivered that as we go through. And again, strong cash generation. I say again, strong cash generation. We're not surprised about our strong cash generation. Our model dictates that we expect to have ongoing strong cash generation. But it is actually our lowest leverage since we listed at 0.7 times. And, of course, it does provide significant headroom for further acquisitions, which is a huge essential ingredient of our long-term strategy. We've made good progress against our sustainability targets, and we'll talk about those targets. They're absolutely part and parcel of what we do. That's an essential ingredient to our success in the marketplace, and we'll go through those in a little bit more detail. And I'm particularly excited about a couple of things we've done in respect of engagement. First group...