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
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.