Vesuvius (VSVS)

Sector:

Engineering

Index:

FTSE 250

464.00p
   
  • Change Today:
    -3.50p
  • 52 Week High: 504.00p
  • 52 Week Low: 390.80p
  • Currency: UK Pounds
  • Shares Issued: 265.25m
  • Volume: 155,016
  • Market Cap: £1,230.75m

Vesuvius FY profits drop amid 'difficult' market conditions

By Michele Maatouk

Date: Thursday 29 Feb 2024

LONDON (ShareCast) - (Sharecast News) - Molten metal flow engineer Vesuvius reported a drop in full-year profit and revenue on Thursday amid "difficult" market conditions.
In the year to the end of December 2023, pre-tax profit fell 13.2% to £179.4m, with revenue down to £1.9bn from £2.0bn a year earlier. This reflected lower volumes in a weaker market, partially offset by good pricing performance and market share gains in Flow Control and Foundry, Vesuvius said.

Vesuvius said that after some limited improvement in the first half from the very low level of H2 2022, its steel markets weakened again in the second half of 2023. This was particularly pronounced in Europe, where steel production fell by 7.3% in 2023 compared with the previous year, and was 5% below the worst year of the pandemic in 2020.

The company proposed a final dividend of 16.2p a share, taking the full-year dividend to 23p, up 3.4%.

Chief executive Patrick Andre said: "Despite the short-term uncertainties in our end steel and foundry markets, we remain confident in the mid to long term growth potential of these markets and in particular the steel market outside of China, which should be a tailwind for us.

"The strength of our technology-based business model should also enable us to continue simultaneously outperform our underlying markets in Flow Control and Foundry and maintain a positive pricing performance for all our business units in the coming years.

"This, coupled with our relentless drive to optimise our cost base as illustrated by the launch of our new cost optimisation programme, positions us very well to achieve our objectives of 12.5% return on sales by 2026 and free cash flow generation of £400m over the next three years."

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Vesuvius Market Data

Currency UK Pounds
Share Price 464.00p
Change Today -3.50p
% Change -0.75 %
52 Week High 504.00p
52 Week Low 390.80p
Volume 155,016
Shares Issued 265.25m
Market Cap £1,230.75m

Vesuvius Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
80.66% above the market average80.66% above the market average80.66% above the market average80.66% above the market average80.66% above the market average
75.76% above the sector average75.76% above the sector average75.76% above the sector average75.76% above the sector average75.76% above the sector average
Price Trend
52.03% above the market average52.03% above the market average52.03% above the market average52.03% above the market average52.03% above the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average
Income
79.60% above the market average79.60% above the market average79.60% above the market average79.60% above the market average79.60% above the market average
62.50% above the sector average62.50% above the sector average62.50% above the sector average62.50% above the sector average62.50% above the sector average
Growth
50.43% below the market average50.43% below the market average50.43% below the market average50.43% below the market average50.43% below the market average
69.7% below the sector average69.7% below the sector average69.7% below the sector average69.7% below the sector average69.7% below the sector average

What The Brokers Say

Strong Buy 4
Buy 3
Neutral 3
Sell 1
Strong Sell 0
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Vesuvius Dividends

  Latest Previous
  Final Interim
Ex-Div 18-Apr-24 03-Aug-23
Paid 31-May-24 15-Sep-23
Amount 16.20p 6.80p

Trades for 14-Jun-2024

Time Volume / Share Price
15:54 850 @ 464.00p
15:54 170 @ 464.00p
15:54 70 @ 464.00p
15:54 42 @ 464.00p
15:50 400 @ 463.50p

Vesuvius Key Personnel

CEO Patrick André

Top of Page