Volex plc

Good morning, ladies and gentlemen, and welcome to the Volex PLC four-year results investor presentation. Throughout this recorded presentation, investors will be in listen-only mode. Questions are encouraged. They can be submitted at any time using the Q&A tab that's situated on the right-hand corner of your screen. Just please simply type in your question at any time and press send. The company may not be in a position to answer every question it receives during the meeting itself, given the attendance today. However, the company will review all questions submitted today and publish responses is where it's appropriate to do so. Before we begin with participation, I'd now like to hand over to John Bowden, CFO, and Nat Rothschild, Chairman. Good morning to you both.

Good morning, everyone, and welcome to the annual results presentation for Volex PLC. I'm Nat Rothschild, Executive Chairman. I'm joined today by John Bowden, our Chief Financial Officer. We are pleased to be sharing with you another excellent set of results. We will start with an overview of the principal achievements and operational highlights for the year. Then I will hand over to John, who will take us through the financial performance and talk about our customer sectors. Then I would like to provide you with an update on our strategy, including our new five-year plan and the outlook for Volex. There will be an opportunity for questions to be submitted at the end of the presentation. So when we set about transforming Volex back in 2016, our vision was to create a diverse and resilient business that could deliver growth in attractive markets. Although it has been a challenging year for all manufacturers with high material costs and increased lead times, I'm very pleased with the way our organisations responded to these challenges to deliver another set of record results. We delivered higher revenue, including significant organic growth. We achieved an underlying operating margin of 9.1%, successfully managing the impact of inflation. Our robust performance and outlook give us the confidence to once again increase our dividend with a 9.1% increase on last year. Our strategy is clearly working as we deliver growth across our market sectors and benefit from our investments in both acquisitions and infrastructure. We are focused on long-term growth and our performance puts us firmly ahead of the stretching goals we set for 2024. To maintain momentum and continue our growth trajectory, today we are launching an ambitious new five-year strategy. More about this later.

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