Strong delivery of Growth+ strategy
AGM presentation
April 30th 2024
Presented by
Kiet Huynh - Chief Executive Officer
Our growth drivers
Industrial | Target segments |
megatrends |
Customer value
Automation
Innovative products
& services
Electrification
Digitalisation
Enabling a sustainable future
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Growth+ strategy
PURPOSE
Keeping the world flowing for future generations
VISION
To be the leader in intelligent flow control
Target | Customer Value | Innovative | ||
Segments | Products and | |||
Services | ||||
Enabling a Sustainable Future
MEGA
TRENDS
Automation
Electrification
Digitalisation
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Target segments in action
Upstream electrification | Battery value chain | Water infrastructure | ||
Additional opportunities for | Success in battery related mining, | Enabling the transportation and | ||
minerals processing and HVAC in | distribution of potable water to a new | |||
Rotork actuation solutions | ||||
cell / pack production | town in the Middle East | |||
Target segments sales represented around 50% and grew 15% YoY OCC
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Customer value in action
Target | Customer | Innovative | ||||
Products and | ||||||
Segments | Value | |||||
Services | ||||||
People | Process | Systems |
Seamless customer experience | Best-in-class lead times | End-to-end efficiency |
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Market outlook
Oil & Gas
- Customer spend focused on energy security, energy transition, emissions reduction and 'investment catch-up'
- Gas and LNG represent close to half of Oil & Gas divisional sales
% of revenue
Oil
CPI
- Focus on fast growing end markets and ones where Rotork has been under- represented historically and can win share
% of revenue
Water & Power
- Ageing water infrastructure and climate challenges necessitating increased multi-year investment
- Positive outlook for power sector emissions related spend. Traditional markets stable
% of revenue
46
Gas
LNG
3024
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Summary
Strong 2023 results
Positive outlook
- Healthy opening order book
- Growth+ benefits
- Expecting a year of progress on an OCC basis
We are committed to delivering mid to high single-digit revenue growth
and mid-20s adjusted operating profit margins over time
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Q1 2024 trading update
Our Q1 performance was as we expected
Order intake was good, up low single digits YoY OCC against a strong comparative
Revenues in the 3m grew mid-teens YoY OCC, reflecting the strength of the opening order book
The outlook for our end markets remains positive and our order book gives us good visibility into the second half of the year
Our full year expectations are unchanged and we continue to anticipate 2024 to be another year of progress on an OCC basis
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Disclaimer
Rotork plc published this content on 30 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2024 15:25:13 UTC.