24 June 2024
Volution celebrates
10th anniversary of IPO
Volution Group plc ("Volution") is
pleased to celebrate the 10th anniversary of its Initial
Public Offering on the London Stock Exchange. Volution is a leading
supplier of ventilation products in the UK, Continental Europe and
Australasia, with the purpose of providing healthy indoor air
sustainably.
Volution's shares were listed on the
London Stock Exchange on 23 June 2014 at an offer price of 150p per
share, implying a market capitalisation of £300 million. At market
closing on 21 June 2024, Volution's share price was 454p, implying
a market capitalisation of £908 million, and representing an
increase of 203%.
The Company's Total Shareholder
Return ("TSR") over this period has been 272% compared with the TSR
of the FTSE 250 Index of 71%1
Over the last decade, Volution has
made significant and sustained progress across financial,
operational and ESG metrics2 In particular:
· Volution has delivered a compound annual growth rate of 13.3%
in revenue and 12.7% in adjusted earnings per share;
· Volution has undertaken 21 value-enhancing acquisitions across
the UK, Continental Europe and Australasia, with acquisition of
strong local brands in attractive markets being a core element of
Volution's growth strategy. Through geographic diversification,
Volution is now present in 17 countries and generates 60% of
revenue from non-UK customers;
· Volution has grown employee numbers by 86% since 2014, to
1,871 as of 2023, and the Group continues to prioritise health and
safety as part of its zero-harm ambition as well as prioritising
employee engagement and development;
· sustainability is at the core of Volution's purpose to provide
healthy indoor air sustainably. Significant progress has been made
since IPO against the Company's key targets with 70% of revenue
generated from low-carbon products (up from 43% in 2014), of which
over 30% of total revenue comes from heat recovery
ventilation;
· Volution is committed to a net zero carbon future, and we have
reduced the Company's scope 1 and 2 carbon intensity (tCO2 per
£'million of revenue) from 36.8 tonnes in 2014 to 11.1 tonnes in
2023. In addition, 76% of the plastics the Company uses in their
manufacturing process are from recycled sources; and
· in
2021, Volution was granted the London Stock Exchange's Green
Economy Mark, recognising it as one of the few Building Materials
companies in the UK to generate over 50% of total annual revenues
from products and services that contribute to the global green
economy.
1TSR Information
accurate as at 21 June 2024
2Unless
otherwise specified, all data is based on information in the
Volution Group plc full-year results published in October
2023.
Ronnie George, CEO of Volution,
commented:
"I
am delighted to celebrate this significant milestone in Volution's
journey. Our successful track record is testament to our strong
corporate culture, differentiated business model, compounding
growth strategy and consistent delivery over the last
decade.
"Over the period, we have seen heightened global awareness of
the importance of indoor air quality, in part due to Covid, but
also due to the extensive scientific evidence showing the harmful
effects of indoor pollutants, including mould, on our health. This
awareness has been reflected in increasing international
governmental regulation, both to promote improved air quality and
the decarbonisation of new and existing buildings, and these
powerful regulatory forces, will continue to be a key driver of
demand for our products across all of our regions, thereby
providing a strong underpin for our strategic
ambitions.
"Our strength lies in our unrivalled product range, strong
customer relationships, and operational excellence, including
outstanding customer service delivered by our talented and
dedicated employees across broad and diversified end markets. We
have a strong culture and have built a quality team who truly
believe in Volution's purpose to provide healthy indoor air
sustainably. I extend my deep thanks to all our employees, and also
our customers and shareholders for their ongoing
support.
"I
remain as excited about the future of the business as I did a
decade ago. Clear structural drivers underpin our long-term growth
potential, and we remain committed to delivering our financial KPIs
and sustainability targets and sustained value creation for all of
our stakeholders."
Nigel Lingwood, Chairman of Volution
Group plc, commented:
"Ronnie and his executive team have made excellent progress in
developing the business over the past 10 years and have delivered
strong returns to shareholders. The Board looks forward to
providing further support to Ronnie to enable the Company to pursue
its growth strategy to build a larger, broader-based business over
the coming years."
-
ENDS -
For
further information:
Volution Group plc
Ronnie George, Chief Executive
Officer +44 (0) 1293 441501
Andy O'Brien, Chief Financial
Officer +44 (0) 1293 441536
FTI
Consulting +44 (0) 203 727 1340
Richard Mountain
Susanne Yule
Volution Group plc Legal Entity
Identifier: 213800EPT84EQCDHO768.
Note to Editors:
Volution Group plc (LSE: FAN) is a
leading international designer and manufacturer of energy efficient
indoor air quality solutions. Volution Group comprises 22 key
brands across three regions:
UK: Vent-Axia, Manrose, Diffusion,
National Ventilation, Airtech, Breathing Buildings,
Torin-Sifan.
Continental Europe: Fresh, PAX,
VoltAir, Kair, Air Connection, inVENTer, Ventilair, ClimaRad, rtek,
ERI, VMI, I-Vent.
Australasia: Simx, Ventair, Manrose,
DVS.
For more information, please go
to: www.volutiongroupplc.com