Victoria PLC

VCP

Equity

ISIN GB00BZC0LC10 / Valor 33667437

LSE London Stock Exchange, SETS (2024-12-23)

GBP 0.63+9.58%

Victoria PLC
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About company

Victoria PLC is a prominent company in the flooring industry, with operations in the UK, Europe, and Australia. Employing around 2,600 people across more than 20 sites, the Group specializes in designing, manufacturing, and distributing a variety of innovative flooring products such as carpets, ceramic and porcelain tiles, underlay, LVT, artificial grass, and flooring accessories. With a focus on quality and innovation, Victoria PLC has established itself as a key player in the market.

Summarized from source with an LLMView SourceSector: Industrials

Revenue Decline

Victoria PLC reported a decline in revenue for the 52 weeks ended 30 March 2024, with total revenue falling to £1,256.5 million from £1,461.4 million in the previous year. This represents a decrease of nearly 14%, attributed to challenging macroeconomic conditions and a pull-forward of demand during the COVID-19 pandemic.

Operating Profit and Loss

The company experienced an IFRS reported operating loss of £51.8 million for the period, compared to a loss of £24.1 million in the previous year. Despite the loss, Victoria PLC focused on integration projects that resulted in productivity gains and cost savings, which helped protect the underlying EBITDA margin.

EBITDA Performance

Victoria PLC's underlying EBITDA for the fiscal year was £160.7 million, down from £196.0 million in the previous year. The EBITDA margin fell by less than 100 basis points, demonstrating the company's efforts to maintain profitability despite the revenue decline.

Debt and Liquidity

The company maintained a strong liquidity position with cash and undrawn credit lines exceeding £250 million. Most of Victoria PLC's debt financing is in the form of Senior Notes, with no financial maintenance covenants, and the earliest tranche not due for repayment until August 2026.

Future Outlook

Victoria PLC's management remains focused on completing integration projects expected to deliver a structural improvement in operating margins of 250-350 basis points. The board is confident in the company's strong economic fundamentals and skilled management, positioning it well for when demand normalizes.

Summarized from source with an LLMView Source

Key figures

-79.7%1Y

-94.8%3Y

-85.8%5Y

Performance

62.7%1Y

71.5%3Y

68.5%5Y

Volatility