Howden Joinery Group PLC (CHIX:HWDNl)
£ 7.7375 0.03 (0.38%) Market Cap: 4.26 Bil Enterprise Value: 4.78 Bil PE Ratio: 16.68 PB Ratio: 4.25 GF Score: 98/100
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Full Year 2023 Howden Joinery Group PLC Earnings Call Transcript

Feb 29, 2024 / 08:30AM GMT
Release Date Price: £8.3 (+7.79%)
Andrew Livingston
Howden Joinery Group PLC - Chief Executive Officer

Good morning, everyone, and welcome to the Howden's 2023 results presentation. So I'll begin with an introduction of our performance for the year. And then Paul Hayes, CFO, will then review our financial results for the period. And then I'll share my perspective on our 2023 performance and outline our plans for 2024, and then we'll take your questions.

The group delivered a resilient performance in 2023 against record prior comparatives and in, as we anticipated, a more challenging marketplace. Sales and profits met expectations and we continued with our investment program, which is focused on our key capabilities, which give us end-to-end a stronger business.

Group sales were in line with those of 2023 and were 46% up on 2019, being the year prior to the onset of the pandemic. In the UK, we believe we gained market share by volume in 2023, which helped us mitigate the impact of a decline in overall size of the kitchen market. Entry-level kitchens represented a higher proportion of kitchens we sold with sales of

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