Financial Data

FY 2017 summary:

“Stability successfully restored, strategy implementation well underway”

  • FY 2017 reflects an improved revenue trend in H2 versus H1, as previously communicated.
    • Revenue decrease of 2.0% on a like-for-like basis1
      • Continued strong result in Component Solutions.
      • Material H2 improvement in growth in Filter Products.
      • Continued decline in Health & Personal Care Packaging.
    • Adjusted operating profit2, 4 down 26.8% (at constant FX) to £85m.
    • Basic adjusted EPS2, 4 lower by 30.1% (at constant FX) to 22.1p.
  • Net debt of £211m (31 December 2016: £379m).
    • Net debt to EBITDA reduced to 1.7x on a continuing basis (31 December 2016: 2.3x).
    • Strong operating cash conversion3, 4 of c. 95%.
  • Full year dividend unchanged at 20.7p per share.
  • Significant improvement in all aspects of business stability, and strategic implementation underway.

1 Excludes the impact of acquisitions, disposals and foreign exchange

2 Before amortisation of acquired intangible assets and exceptional operating items

3 Operating cash conversion is defined as adjusted operating cash flow divided by adjusted operating profit

4 Continuing operations, excluding Porous Technologies, in light of the divestment on 6 March 2017