Full Year 2024 CVS Group PLC Q&A Session Transcript
Welcome to this presentation of CVS Group's full-year financial results for the year ended June 30, 2024. I am Richard Fairman, CEO, and I'm joined by Robin Alfonso, CFO; and Paul Higgs, Chief Veterinary Officer.
As set out on slide 4, we have continued to make progress against our five-year strategic plan despite some challenges faced in the past financial year with a major cyber incident at the end of March, our resulting decision to migrate the majority of our practices to a new practice management system, and the CMA launching a market investigation in May.
Revenue increased by 9.9% to GBP647.3 million, driven by underlying like-for-like organic growth of 4.1% and acquisitions made in the year, notably in Australia. Adjusted EBITDA increased by 4.7% to GBP127.3 million with EBITDA margin of 19.7%. Whilst this remains within our stated ambition, it was adversely impacted in the year by the cyber incident, inflationary pressures on wages and utilities alongside our continued investment in people.
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