Full Year 2018 Vesuvius PLC Earnings Call Transcript
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Ladies and gentlemen, welcome to the presentation of Vesuvius' Full Year 2018 Results. My name is Patrick André, I'm the Chief Executive of Vesuvius; and to my right is Guy Young, our Chief Financial Officer.
Firstly, I will present an overview of our strategy and performance during the year. Then Guy will go into more detail on our financial results and then, I will conclude to give you some considerations on our outlook for 2019.
We announced this morning our best results since we became an independent company in 2012 with 10.7% growth, underlying growth in revenue, 24.1% growth in trading profit underlying, but even more important, sharp increase in our profitability with our return on sales reaching 11%, so 120 basis points move of 2017 performance.
With these results, we remain fully on track with our objective to reach 12.5% return on sales by 2020. Thanks to these good results and efficient working capital management, we could improve further our balance sheet, reaching
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