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Review of Vp plc's 2009 performance, highlighting growth, market diversity, financial strength, and future challenges. Strategies for growth, cash generation, and operational successes discussed.
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Vp plc The Equipment Rental Specialist Final Results 2009 Jeremy Pilkington - Chairman Neil Stothard – Group Managing Director Mike Holt – Group Finance Director
Well positioned for future challenges • Another year of further progress – excellent results under the circumstances • Diversity has provided some resilience to changing conditions • EPS growth affected by tax charge • Maintained final dividend – 3% increase for year • Cash conservation and cost management • Strong balance sheet and committed banking facilities • Well positioned for growth as markets recover
A challenging but successful year • Excellent performance in light of prevailing conditions • Delivered improved profits in line with original market expectations • 5 out of 6 trading divisions increased profits in the year • Profit margins improved further • Overall result further demonstrates the deep rooted strength and consistency of the business and its ability to deliver
Delivering results Operating Profit (£m) Revenue (£m)
Advancing in changing times • More challenging 2nd half with timely and selective response by management • Opportunities continue to be secured • 5 acquisitions in Hire Station and Groundforce • new locations • overseas market growth • major customer relationships • Managing for tougher environment • careful cost control • reduced capital investment • working capital management – debtors, stocks and creditors • specific headcount and infrastructure actions • alert to further change
Future challenges and prospects • Diversity provides some resilience • Opportunities exist but our main focus is on optimising current business • Year of cash generation ahead • Reduced fleet investment • Working capital control • Cost management initiatives • Strategic focus on specialist sectors maintained • Capacity to secure opportunities at the appropriate point in the recovery cycle
Resilient business model • Strong and growing market leading positions • Diversified offering provides some resilience to changing conditions • Focus on value added service excellence • Balance sheet strong • Consistent good performance with quality returns • Well positioned for further growth when markets recover
Quality returns/consistency Operating Margin (%) Return on Average Capital Employed (%) Earnings per share (pence) Dividend per share (pence)
Vp plc The Equipment Rental Specialist Final Results 2009
Vp plc The Equipment Rental Specialist Supplementary data
UK Forks Groundforce • Rough terrain material handling equipment for industry, residential and general construction Excavation support systems, specialist solutions and trenchless technology for the water, gas, civil engineering and construction industries
Airpac Bukom Oilfield Services Hire Station • Equipment and service providers • to the international oil and gas • exploration and development • markets Small tools and specialist equipment for industry and construction
Torrent Trackside TPA • Rail infrastructure portable plant and specialist services for the railway renewals and maintenance industry • Portable roadway systems primarily to the UK market, but also mainland Europe and the Republic of Ireland.
