REG - Vesuvius plc - Capital Markets Event

VesuviusAnnouncement

16/11/2023 07:00

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RNS Number : 6135T  Vesuvius plc  16 November 2023

16 November 2023

 

Vesuvius plc

("Vesuvius" or "the Group")

 

Capital Markets Event

 

Vesuvius plc, a global leader in molten metal flow engineering and technology,
is hosting an in-person Capital Markets Event for analysts and institutional
investors in London this afternoon.

The event will be hosted by Patrick André, Chief Executive Officer and Mark
Collis, Chief Financial Officer, with presentations from Pascal Genest, Flow
Control President; Richard Sykes, Advanced Refractories President; and Karena
Cancilleri, Foundry President.

The event will provide insights into the positive long-term growth trends in
the steel and foundry markets, in particular the positive inflexion of the
steel markets ex China to structural growth in the coming years, and how
Vesuvius' strategy of technological differentiation enables outperformance of
these markets. Vesuvius' objective will be to achieve a profitable and highly
cash-generative organic growth strategy that will:

·    Target revenue outperforming the market by at least 2%, driven by
market share gains and superior pricing;

·   Target a return on sales margin of at least 12.5% in 2026, supported
by a new cost-saving programme aiming to deliver £30m in recurring
efficiencies;

·    Deliver strong cash generation with a cumulative free cash flow
target of at least £400m between 2024 and 2026, for dividends, acquisitions
and share buybacks; and

·    Deliver a capital allocation policy focused on value creation and
shareholder returns.

No new information on trading will be shared at the event, following the
trading update issued on 14 November 2023.

For those unable to attend in person, the event will be broadcast live at
2.30pm today. To access the presentation, participants will be required to
register in advance using the following webcast link here
(https://stream.brrmedia.co.uk/broadcast/6512e7be39ad9f961be9fa84) .

A recording of the day and a copy of the presentations will be available
following the event on the Group's website at:
https://www.vesuvius.com/en/investors.html
(https://www.vesuvius.com/en/investors.html)

If you would like to attend in person, please email Vesuvius@mhpgroup.com

 

 For further information, please contact:
 Shareholder/analyst enquiries:
 Vesuvius plc                    Patrick André, Chief Executive               +44 (0) 207 822 0000
                                 Mark Collis, Chief Financial Officer         +44 (0) 207 822 0000

                                 Rachel Stevens, Head of Investor Relations   +44 (0) 7387 545 271
 Media enquiries:
 MHP                             Rachel Farrington                            +44 (0) 7801 894 577 +44 (0) 7817 458 804

                                 Ollie Hoare

 

 

About Vesuvius plc

Vesuvius is a global leader in molten metal flow engineering and technology
principally serving process industries operating in challenging
high‑temperature conditions.

We develop innovative and customised solutions, often used in extremely
demanding industrial environments, which enable our customers to make their
manufacturing processes safer, more efficient and more sustainable. These
include flow control solutions, advanced refractories and other consumable
products and increasingly, related technical services including data capture.

We have a worldwide presence. We serve our customers through a network of
cost-efficient manufacturing plants located close to their own facilities, and
embed our industry experts within their operations, who are all supported by
our global technology centres.

Our core competitive strengths are our market and technology leadership,
strong customer relationships, well established presence in developing markets
and our global reach, all of which facilitate the expansion of our addressable
markets.

Our ultimate goal is to create value for our customers, and to deliver
sustainable, profitable growth for our shareholders giving a superior return
on their investment whilst providing each of our employees with a safe
workplace where they are recognised, developed and properly rewarded.

We think beyond today to create solutions that will shape the future.

Forward looking statements

This announcement contains certain forward looking statements which may
include reference to one or more of the following: the Group's financial
condition, results of operations, cash flows, dividends, financing plans,
business strategies, operating efficiencies or synergies, budgets, capital and
other expenditures, competitive positions, growth opportunities for existing
products, plans and objectives of management and other matters.

Statements in this announcement that are not historical facts are hereby
identified as "forward looking statements". Such forward looking statements,
including, without limitation, those relating to the future business
prospects, revenue, working capital, liquidity, capital needs, interest costs
and income, in each case relating to Vesuvius, wherever they occur in this
announcement, are necessarily based on assumptions reflecting the views of
Vesuvius and involve a number of known and unknown risks, uncertainties and
other factors that could cause actual results, performance or achievements to
differ materially from those expressed or implied by the forward looking
statements. Such forward looking statements should, therefore, be considered
in light of various important factors that could cause actual results to
differ materially from estimates or projections contained in the forward
looking statements. These include without limitation: economic and business
cycles; the terms and conditions of Vesuvius' financing arrangements; foreign
currency rate fluctuations; competition in Vesuvius' principal markets;
acquisitions or disposals of businesses or assets; and trends in Vesuvius'
principal industries.

The foregoing list of important factors is not exhaustive. When considering
forward looking statements, careful consideration should be given to the
foregoing factors and other uncertainties and events, as well as factors
described in documents the Company files with the UK regulator from time to
time including its annual reports and accounts.

You should not place undue reliance on such forward looking statements which
speak only as of the date on which they are made. Except as required by the
Rules of the UK Listing Authority and the London Stock Exchange and applicable
law, Vesuvius undertakes no obligation to update publicly or revise any
forward looking statements, whether as a result of new information, future
events or otherwise. In light of these risks, uncertainties and assumptions,
the forward looking events discussed in this announcement might not occur.

 

Vesuvius plc, 165 Fleet Street, London EC4A 2AE

Registered in England and Wales No. 8217766

LEI: 213800ORZ521W585SY02

www.vesuvius.com

 

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