REG - Volution Group plc - AGM Trading Update

VolutionAnnouncement

11/12/2024 07:00

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RNS Number : 5770P  Volution Group plc  11 December 2024

 

 

Wednesday 11 December 2024

 

 

Volution Group plc

AGM Trading Update for 4 months ended 30 November 2024

  Positive start to FY 2025

 

Volution Group plc ("Volution" or "the Group" or "the Company", LSE: FAN), a
leading international designer and manufacturer of energy efficient indoor air
quality solutions, is pleased to announce an update on trading covering the
four months ended 30 November 2024, ahead of its Annual General Meeting which
is being held later today.

Revenue for the four months ended 30 November 2024 was c. £123 million, up
1.3% versus the prior year.  Organic growth at constant currency was 2.5%.
There was no inorganic growth in the period. The Group adjusted operating
margin has again improved compared to FY 2024, underpinned by our operational
excellence programme, the introduction of new products to the market and our
ongoing focus on value engineering and input cost initiatives. Free cash flow
has remained consistent driven by good trading and continued focus on working
capital.

 

Similar to the prior financial year, revenue performance has been strongest in
UK residential, where our product solutions introduced over recent years to
address the 2021 Building Regulations continue to gain share with housebuilder
customers.   We have also seen an improvement in revenue in Continental
Europe with ClimaRad in the Netherlands performing strongly, whilst the
introduction of Group products is contributing to growth in France.  In
Australasia the year has started well in Australia, though as previously
reported the New Zealand market remains challenging and trading activity
levels have been weak.

 

We continue to make good progress with our ESG initiatives, most notably
utilisation of recycled plastics in our production facilities with the already
strong performance in the UK being complemented by a major step up in recycled
plastic usage in the Nordics.

 

With positive organic growth momentum and margin expansion in the first four
months of the year, together with the recently announced completion of the
Fantech acquisition, we expect to deliver another year of good growth in both
revenue and operating profit.

 

 

-Ends-

 

 

For further information:

 Volution Group plc
 Ronnie George, Chief Executive Officer             +44 (0) 1293 441501
 Andy O'Brien, Chief Financial Officer              +44 (0) 1293 441536

 FTI Consulting                                     +44 (0) 203 727 1340
 Richard Mountain
 Susanne Yule

 

Volution Group plc Legal Entity Identifier: 213800EPT84EQCDHO768.

 

Note to Editors:

 

Volution Group plc (LSE: FAN) is a leading international designer and
manufacturer of energy efficient indoor air quality solutions.  Volution
Group comprises 29 key brands across three regions:

 

UK: Vent-Axia, Manrose, Diffusion, National Ventilation, Airtech, Breathing
Buildings, Torin-Sifan.

Continental Europe: Fresh, PAX, VoltAir, Kair, Air Connection, Rtek, inVENTer,
Ventilair, ClimaRad, ERI Corporation, VMI, I-Vent.

Australasia: Simx, Ventair, Manrose, DVS, Fantech, Ideal Air, NCS Acoustics,
Air Design, Major Air, Systemaire, Burra Steel.

 

For more information, please go to: www.volutiongroupplc.com
(http://www.volutiongroupplc.com)

 

Cautionary statement regarding forward-looking statements

This document may contain forward-looking statements which are made in good
faith and are based on current expectations or beliefs, as well as assumptions
about future events. You can sometimes, but not always, identify these
statements by the use of a date in the future or such words as "will",
"anticipate", "estimate", "expect", "project", "intend", "plan", "should",
"may", "assume" and other similar words. By their nature, forward-looking
statements are inherently predictive and speculative and involve risk and
uncertainty because they relate to events and depend on circumstances that
will occur in the future. You should not place undue reliance on these
forward-looking statements, which are not a guarantee of future performance
and are subject to factors that could cause our actual results to differ
materially from those expressed or implied by these statements. The Company
undertakes no obligation to update any forward-looking statements contained in
this document, whether as a result of new information, future events or
otherwise.

 

 

 

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