Half Year 2022 Vesuvius PLC Earnings Call Transcript

Jul 28, 2022

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Jul 28, 2022 / 09:00AM GMT
Patrick Georges Felix Andre - Vesuvius plc - CEO & Executive Director

Welcome to Vesuvius Half Year 2022 results presentation. My name is Patrick Andre, Chief Executive of Vesuvius. And to my right with me this morning is Guy Young, our Chief Financial Officer.

I will start with some updates on our global performance in the first half, then Guy will give you more details on our financials. I will then conclude with some perspective on our full year 2022 before opening the floor for questions.

We delivered a strong set of results in the first half 2022, our strongest ever performance since we started trading as an independent company in 2012. Our revenue increased 21% on an underlying basis. Our trading profit increased 69% and our return on sales increased by 350 basis points to reach 12.5%. Despite the need to reinvest in working capital to follow the growth of our top line and to protect our customers against the risk of supply chain disruption, our focus on cash management enabled us to further decrease our net debt-to-EBITDA ratio, which reached 1.3 midyear versus 1.4 end of 2021

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