Mar 11, 2025 / 09:30AM GMT
Nimesh Patel - Spirax Group PLC - Group Chief Executive Officer
Hello, and thanks for joining us for this presentation of Spirax Group's 2024 results. So I'm joined by Louisa Burdett today. And by now, you all know her well. Actually, this is the first set of results that Louisa is presenting as our CFO. And I'd like to start by acknowledging the hugely positive impact she's had on our group since she joined us last July.
So let me now summarize our 2024 performance. All three businesses delivered organic growth as well as margins in line with our expectations, and full-year group organic sales growth of 4% was well ahead of global IP of 1.7%. Growth was delivered against the backdrop of a challenging trading environment characterized by, firstly, third-party IP forecasts that were revised downwards throughout the year in light of shifting macroeconomic risks.
In particular, the second-half recovery that was forecast for IP did not materialize; secondly, a significant headwind to our STS business in China, which I highlighted at this time last year; thirdly, a slower and more gradual
Full Year 2024 Spirax Group PLC Earnings Call Transcript
Mar 11, 2025
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