Vesuvius (VSVS)

Sector:

Engineering

Index:

FTSE 250

411.60p
   
  • Change Today:
    -18.60p
  • 52 Week High: 510.50
  • 52 Week Low: 302.20
  • Currency: UK Pounds
  • Shares Issued: 271.21m
  • Volume: 465,601
  • Market Cap: £1,116.32m

Vesuvius revenues fall as end markets deteriorate

By Michele Maatouk

Date: Thursday 27 Feb 2020

LONDON (ShareCast) - (Sharecast News) - Profit and revenue at molten metal flow engineer Vesuvius fell in the year to the end of December 2019 amid a "significant" deterioration in its main end markets of steel and foundry after a strong 2018.
Pre-tax profit slumped 24.1% to ?118.6m on revenue of ?1.7bn, down 4.9% on the year.

In the steel division, revenue fell 3.3% to ?1.2bn as markets deteriorated in the majority of regions after a strong 2018. Vesuvius said the 'high technology' segment of the steel market, key for the flow control business unit, suffered proportionately more in 2019 than the more commoditised construction steel market, mainly due to weakness in light vehicle volumes. This deterioration of its markets was exacerbated by a general de-stocking throughout the supply chain, particularly in EMEA.

In the foundry business, the environment was "challenging", it said, with weakness in light vehicle production in all regions. Revenue in that segment fell 8.2% to ?515.1m on a reported basis, with underlying revenue down 8.7%.

Chief executive Patrick Andre said the company had delivered a "robust" operational performance in "challenging" conditions.

"Key end markets were especially weak during the fourth quarter of 2019 and we expect this abnormally low level of activity to continue at least in Q1 2020 and to weigh on performance in H1 2020," he said.

He said the potential impact of the coronavirus crisis is difficult to assess currently but it is likely to have "a temporary negative impact" on its end markets.

"However, there are some signals indicating that the destocking phase experienced in H2 2019 is maturing and may shortly be coming to an end," said Andre. "Thanks to our restructuring efforts, our reinforced emphasis on innovation in the service of our customers and our dedicated workforce, Vesuvius is ideally positioned to benefit from the normalisation in our end markets as this occurs."

At 1130 GMT, the shares were down 0.6% at 408.80p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Vesuvius Market Data

Currency UK Pounds
Share Price 411.60p
Change Today -18.60p
% Change -4.32 %
52 Week High 510.50
52 Week Low 302.20
Volume 465,601
Shares Issued 271.21m
Market Cap £1,116.32m

Vesuvius Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
71.73% above the market average71.73% above the market average71.73% above the market average71.73% above the market average71.73% above the market average
79.49% above the sector average79.49% above the sector average79.49% above the sector average79.49% above the sector average79.49% above the sector average
Price Trend
43.71% below the market average43.71% below the market average43.71% below the market average43.71% below the market average43.71% below the market average
26.83% below the sector average26.83% below the sector average26.83% below the sector average26.83% below the sector average26.83% below the sector average
Income
45.57% above the market average45.57% above the market average45.57% above the market average45.57% above the market average45.57% above the market average
58.33% above the sector average58.33% above the sector average58.33% above the sector average58.33% above the sector average58.33% above the sector average
Growth
22.93% below the market average22.93% below the market average22.93% below the market average22.93% below the market average22.93% below the market average
8.11% above the sector average8.11% above the sector average8.11% above the sector average8.11% above the sector average8.11% above the sector average

What The Brokers Say

Strong Buy 8
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 10
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Vesuvius Dividends

  Latest Previous
  Interim Final
Ex-Div 08-Aug-19 18-Apr-19
Paid 20-Sep-19 24-May-19
Amount 6.20p 13.80p

Trades for 18-Sep-2020

Time Volume / Share Price
16:35 358,804 @ 411.60p
16:29 63 @ 411.20p
16:29 299 @ 411.20p
16:29 141 @ 411.40p
16:29 3 @ 411.20p

Vesuvius Key Personnel

Chair John McDonough
CEO Patrick André

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