Persimmon PLC (FRA:OHP)

€ 15.165 0.1 (0.66%) Market Cap: 4.80 Bil Enterprise Value: 4.38 Bil PE Ratio: 15.58 PB Ratio: 1.16 GF Score: 83/100

Q4 2023 Persimmon PLC Trading Statement Call Transcript

Jan 10, 2024 / 08:30AM GMT

Release Date Price: €16.8 (+0.12%)

Transcript

Unidentified Company Representative

Good morning, everybody, and thank you for joining the call this morning. As usual, I'm joined by Mike Julia I am Vicky. I'll spend a moment or two to talk through the key points in this trading update before opening up to Q&A.

Operational delivery was excellent as good as we've ever seen, and trading in Q4 was robust, which has allowed us to report legal completions 9,922 for 2023, ahead of our previous guidance. This includes [790] bulk sales for the year compared with 889 for 2022. We achieved an ASP. for the year of GBP255,750, 3% up on the previous year, we closed the year with cash of GBP420 million.

We expect to be reporting a housing margin of 14% for the year after providing some one-off costs that totalled GBP15.5 million. We have taken a charge of GBP6.8 million in order to remediate defective materials and close sites in coal and in the COTS wells. We have also reviewed our full portfolio of sites and raised a charge of GBP8.7 million in respect to where we have taken the decision to exit early one through a land sale and one to an historic

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