Rotork PLC

ROR

Equity

ISIN GB00BVFNZH21 / Valor 27808238

LSE London Stock Exchange, SETS (2024-09-18)

GBP 3.26-1.09%

Rotork PLC
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About company

Rotork PLC is a global provider of flow control and instrumentation solutions for various industrial markets, including oil and gas, water and wastewater, power, and chemical process industries. With a workforce of 3,300 employees serving customers in 170 countries, Rotork is known for its innovative, high-quality, and dependable products that help improve efficiency, reduce emissions, and ensure safety. The company operates across three divisions: Oil & Gas, Water & Power, and Chemical, Process & Industrial (CPI), allowing them to build close relationships with customers and meet their specific needs. With over 60 years of industry knowledge, Rotork offers a comprehensive product portfolio designed for quick and safe operation in the field, with a focus on reducing environmental impact through energy and waste management.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

In the first half of 2024, Rotork PLC reported a revenue increase of 8.0% year-on-year, reaching £361.4 million compared to £334.7 million in the same period of 2023. This growth was driven by strong performances in the Oil & Gas and Water & Power sectors, despite a decline in the Chemical, Process & Industrial sector due to reduced mining project activity.

Operating Profit

Rotork PLC's adjusted operating profit for H1 2024 was £76.5 million, a 17.1% increase from £65.3 million in H1 2023. The adjusted operating margin also improved by 170 basis points to 21.2%, reflecting increased sales and effective cost management. Reported operating profit was £66.9 million, up 12.5% from the previous year.

Order Intake

Order intake for Rotork PLC in the first half of 2024 was £374.4 million, slightly lower by 3.2% compared to £386.9 million in H1 2023. However, on an organic constant currency (OCC) basis, order intake was marginally higher year-on-year, indicating stable demand despite a strong comparative period with higher levels of large project activity.

Profit Before Tax

Rotork PLC reported a profit before tax of £69.7 million for H1 2024, a 15.6% increase from £60.2 million in H1 2023. This improvement was driven by higher revenue and better operating margins, showcasing the company's effective execution of its Growth+ strategy.

Dividends

For the first half of 2024, Rotork PLC declared an interim dividend of 2.75p per share, up 7.8% from 2.55p per share in H1 2023. This increase reflects the company's strong financial performance and commitment to returning value to shareholders.

Summarized from source with an LLMView Source

Key figures

8.22%1Y

-11.2%3Y

1.59%5Y

Performance

19.4%1Y

25.2%3Y

29.3%5Y

Volatility