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

Half Year 2024 Vesuvius plc Earnings Call Transcript

Aug 01, 2024 / 08:00AM GMT

Release Date Price: €5.2 (-7.96%)

Transcript

Patrick Andre

Vesuvius plc - Chief Executive Officer, Executive Director

Good morning, ladies and gentlemen. Welcome to Vesuvius half year 2024 results presentation. My name is Patrick Andre, I'm the Chief Executive. And with me this morning is the Mark Collis, Chief Financial Officer. I will start with some update on our performance during the first six months of the year before Mark gives you more details on our financials. I will then conclude with some perspective on the full year 2024 before opening the floor for questions.

Our results for the first half were in line with our expectations despite weaker market conditions than expected. Our revenues declined 2% on an underlying basis with a positive volume growth in steel, only partially compensating a significant volume decline in foundry. Our trading profit remained robust with a decline limited to 0.9% on an underlying basis. Despite the difficult market conditions, we could slightly increase our return on sales by 10 basis point to 10.4%.

We also continue to make progress in the management of our cash with a further reduction

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