Annual Report 2024 - Key Financial Highlights
Annual Report 2024
Key Financial Highlights
Core Revenue
11%
Total revenue from our sales of continuing Edrington branded products on a constant currency basis
Analysis
Core revenue grew by 11%, reflecting the growth of our prestige products
Brand Investment
16%
Marketing expenditure on our core brands, on a constant currency basis
Analysis
Brand investment grew by 16%, increasing our reinvestment ratio to market-leading levels at 22% of Core Revenue
Core Contribution
16%
Profits from our branded sales and distribution after the deduction of overheads on a constant currency basis
Analysis
Despite increased cost inflation and a 16% increase in brand investment, Core Contribution grew by 16%, reflecting the improved revenue growth, particularly across our prestige products
Earnings before Interest and Tax (EBIT)
9%
EBIT is a measure of the profit generated by the business before the impact of interest, tax, minority interest charges and items deemed to be exceptional in nature
Analysis
EBIT grew by 9%, reflecting the strong growth in our Core Contribution, impacted by adverse foreign exchange movements
Free Cash Flow
10%
Net cash flow excluding the movements in borrowings, shares, dividend payments, expansionary capital expenditure and exceptional items
Analysis
The small reduction in free cash flow versus the prior year reflects increased levels of investment in capital expenditure and maturing stocks for the future growth of the brands
Net Debt/EBITDA
17%
The ratio of bank and private placement debt after the deduction of cash balances, to reported earnings before interest, tax, depreciation and amortisation
Analysis
The 17% increase in the ratio is driven by the increase in net debt as a result of increased investment in capital expenditure and maturing stocks, together with the final stage of our share buyback programme
Earnings Per Share (pence)
4%
Profit for the financial year attributable to the owner, excluding exceptional items, divided by the weighted average number of A and B shares
The earnings per share increased marginally, despite flat profits, due to there being fewer shares in issue as a result of our share buyback programme
Dividend Per Share (pence)
4%
The total dividend paid per share for the financial year
The dividend has been increased at a rate that reflects the medium term underlying growth of the business