Full Year 2024 Cohort PLC Earnings Call Transcript
Key Points
- Cohort PLC (FRA:C7K) achieved record operating profit, revenue, and closing order book for the financial year ending April 2024.
- Revenue exceeded GBP200 million for the first time, with a growth of 11% to GBP202.5 million.
- The order intake of GBP392 million significantly exceeded recognized revenue, growing the order book to nearly GBP520 million.
- The company has over 95% revenue cover for the current year, indicating strong future performance.
- Cohort PLC's cash performance was strong, ending the year with net funds of over GBP23 million, allowing for a 10% increase in the full-year dividend.
- The Communications and Intelligence division performed below expectations, with MCL returning to normal levels after an exceptional previous year.
- EID had a disappointing year, making a small loss, although recent orders suggest potential improvement.
- The company faces technical and supply chain risks, although they are experienced in managing these challenges.
- There are concerns about potential capacity constraints and supply chain issues across the six businesses.
- The geopolitical landscape remains unstable, which, while driving demand, also presents uncertainties and risks for the company's operations.
Okay. Well, good morning, everybody. Nice to see a full house. That's great. In case someone doesn't know, I'm Andy Thomis. I'm the Chief Executive of Cobalt PLC, and I'm here with Simon Walther who's the Cobalt Finance Director to take you through the results of our financial year ending April 2024. You might be interested to know that the picture you can see that is the assembly of SCA's create towed array sonar going on at the factory (inaudible).
So, I'm going to start by giving you the highlights of the results that we're announcing today. Simon is going to give you more detail, including a divisional breakdown, and then I'll come back with some comments about the demand picture and about our future prospects. And I'm happy to say that overall, we've once again seen a very strong performance, record operating profit, record revenue and a record closing order book. Serial numbers and revenue and profit both up very strongly above market expectations and we hit to what I'd describe as major milestones in our development as a
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