ZOTEFOAMS PLC (ZTF) — 2024 Preliminary Results

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen, and welcome to the ZOTEFOAMS Investor Presentation. Throughout today's meeting, attendees will be in listen only mode. Questions are encouraged and can be submitted at any time using the Q and A tab situated on the right hand corner of your screen. Please simply type in your question at any time and press send. The company may not be in a position to answer every question received during the meeting. However, the company can review your questions submitted today, and we'll publish those responses where it's appropriate to do so. Before we begin, we'd like to submit the following poll, and I'm sure the company would be most grateful for your participation. I'd now like to hand over to CEO, Ronan Cox. Good afternoon. Good afternoon, Mark, and good afternoon, everyone. Thank you for joining us for our presentation this afternoon where we will go through our 2024 preliminary results, and we'll also take an opportunity to delve into our refreshed strategy for the business. If we just move on, quickly pass the disclaimer. And first, we'll touch on business performance. So 2024, a incredibly strong year for ZOTEFOAMS with record sales performance. Revenue is up 16% to just under £148,000,000. A big driver of that was high performance products and up 37% to £79,600,000 with footwear within that being the real the real driver of that growth. In terms of earnings, record earnings before the exceptional item. So record earnings of a operating profit up 20% to 18,100,000, and that drove an earnings per share before exceptionals, to 25.95%. And the exceptionals were all driven by the decision to pause the investment in the resource technology, and I'll come on to that in in a few slides. Incredibly strong balance sheet. Net debt is down 20% t...