Zotefoams plc (LON:ZTF), a world leader in cellular material technology, has announced its unaudited preliminary results for the year ended 31 December 2023.
“Record profit alongside significant investment in our ReZorce® recyclable packaging solution.”
Financial Highlights
| Foams4 | Group | ||||||
| 2023 | 2022 | Change | 2023 | 2022 | Change | ||
| Revenue (£m) | 125.7 | 124.6 | 1% | 127.0 | 127.4 | 0% | |
| Gross margin (%) | 33.9% | 31.0% | 290 ppt | 32.3% | 30.4% | 190 ppt | |
| Operating profit1 (£m) | 19.5 | 15.8 | 23% | 15.1 | 13.9 | 9% | |
| Operating margin (%) | 15.5% | 12.7% | 280 ppt | 11.9% | 10.9% | 100 ppt | |
| Profit before tax1 (£m) | 17.2 | 14.1 | 22% | 12.8 | 12.2 | 5% | |
| Basic EPS1 (p) | 19.0 | 20.6 | (8%) | ||||
| Net debt (£m) | 31.6 | 27.8 | (13%) | ||||
| Leverage ratio2 | 1.2 | 1.2 | 0% | ||||
| Final dividend3 (p) | 4.90 | 4.62 | 6% |
1 This is a reported number under UK adopted IAS and is after the deduction of amortisation of acquired intangibles amounting to £0.257m in 2023 and £0.258m in 2022