Hilton Food Group PLC

HFG

Equity

ISIN GB00B1V9NW54 / Valor 3107013

LSE London Stock Exchange, SETS (2024-11-21)

GBP 9.06-1.09%

Hilton Food Group PLC
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About company

Hilton Food Group PLC is a leading global food packaging and supply chain company that recently announced a new 10-year partnership agreement with Walmart Canada to supply a range of products including beef, pork, lamb, seafood, and added value products, as well as sortation services. The company is known for its expertise in providing high-quality, innovative food solutions to retailers worldwide, and this new partnership further solidifies its position in the market. With a focus on sustainability and efficiency, Hilton Food Group PLC continues to expand its presence and deliver value to its customers through strategic partnerships and cutting-edge solutions.

Summarized from source with an LLMView SourceSector: Consumer Non-Cyclicals

Revenue Growth

Hilton Food Group PLC reported a revenue increase of 3.7% for the 52 weeks ended 31 December 2023, reaching £3.99 billion. This growth was supported by a 0.7% increase in volume, demonstrating the company's ability to expand its market presence despite challenging economic conditions.

Profitability Increase

The company saw a significant rise in profitability, with adjusted operating profit increasing by 33.5% to £95.0 million. Statutory operating profit also surged by 59.4%, reaching £86.1 million, driven primarily by the recovery in the seafood category.

Free Cash Flow

Hilton Food Group PLC generated a strong free cash inflow of £112.1 million in 2023, a notable improvement from the outflow of £79.4 million in 2022. This positive cash flow highlights the company's robust cash-generative capabilities and financial health.

Debt Reduction

The company successfully reduced its net bank debt to £139.7 million by the end of 2023, down from £211.6 million in the previous year. This reduction brought the net bank debt as a percentage of adjusted EBITDA down to 1.0 times, compared to 1.8 times in 2022, indicating improved financial leverage.

Dividend Increase

Reflecting the Board's confidence in the company's performance, Hilton Food Group PLC proposed a final dividend of 23.0p per share, bringing the total dividend for 2023 to 32.0p. This represents a 7.7% increase from the 29.7p total dividend in 2022, rewarding shareholders for their continued support.

Summarized from source with an LLMView Source

Key figures

27.6%1Y

-24.8%3Y

-10.8%5Y

Performance

23.0%1Y

34.6%3Y

33.9%5Y

Volatility