Forterra PLC has recommended final dividend of 2.0p per share; which, in addition to the interim dividend of 1.0p per share paid in October, will bring the total dividend to 3.0p per share (2023: 4.4p). Subject to approval by shareholders, the final dividend will be paid on 4 July 2025.
Other Financial Highlights Include
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Revenue flat year-on-year, with a double digit increase in H2 24 relative to both the prior year and H1 24
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2024 UK brick industry despatches up 2% compared with 2023, with Q4 despatches c.20% ahead of the corresponding period; total UK brick consumption remains c.30% behind 2022 levels
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Pricing discipline maintained with selling prices remaining relatively stable across our product range
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Adjusted EBITDA of £52.0m, slightly ahead of their revised expectations of around £50m
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Strong improvement in cash generation with adjusted operation cash flow of £60.1m
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Good ongoing strategic progress at Desford, Wilnecote and Accrington with their solar farm also commencing generation in the year
- Net debt before leases of £84.9m, equating to leverage of c.1.9 times on a banking covenant basis; further debt reduction expected in 2025
