Vesuvius PLC (STU:V4S)

€ 5 0 (0%) Market Cap: 1.30 Bil Enterprise Value: 1.68 Bil PE Ratio: 10.84 PB Ratio: 0.92 GF Score: 76/100

Full Year 2023 Vesuvius plc Earnings Call Transcript

Feb 29, 2024 / 09:00AM GMT

Release Date Price: €5.56 (-0.71%)

Transcript

Patrick Andre

Vesuvius plc - Chief Executive Officer, Executive Director

Welcome to Vesuvius's full year 2023 presentation. My name is Patrick AndrÃ©. I'm the Chief Executive of Vesuvius and to my right with me this morning is Mark Collis, our Chief Financial Officer. I will start with some updates on our performance during the year. Then Mark will give you more details on our financials. I will conclude at the end of the meeting with some perspectives on the year 2024 and beyond before opening the floor four questions.

We delivered robust results in 2023 despite difficult market conditions in particular in the second half. Thanks to a positive pricing performance, our revenues decreased only 3% on an underlying basis despite significantly lower volumes. Our trading profit also remained robust, reaching GBP200.4 million, a decrease limited to 6.7% on an underlying basis as compared with last year. Our full year return on sales at 10.4% remain very similar to the one achieved during the first half despite the lower volumes in the second half.

Despite also the high level of our strategic

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