Full Year 2021 Forterra PLC Earnings Call Transcript

Mar 10, 2022

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Mar 10, 2022 / 08:30AM GMT
Stephen Harrison - Forterra plc - CEO & Executive Director

Well, good morning, and welcome to Forterra's 2021 Annual Results Presentation. I'm Stephen Harrison, Chief Executive of Forterra.

Benjamin J. Guyatt - Forterra plc - CFO & Director

And I'm Ben Guyatt, Chief Financial Officer.

Stephen Harrison - Forterra plc - CEO & Executive Director

So let's move straight on to the financial highlights that we're going to present this morning.

We're pleased to deliver a strong performance last year. Volumes are now back to pre-pandemic levels. Margins reduced slightly towards the end of the year as we had cost inflation come through. But we've made our pricing more agile, and we delivered a double-digit price increase at the end of 2021, and we have a further price increase being double-digit price increase coming through on the 1st of April this year. Our dividend policy is in line with our published intention to pay out 55% of our profits. And we announced a share buyback in January that is ongoing.

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