Spectris PLC (OTCPK:SEPJY)

$ 16.01 -1.1813 (-6.87%) Market Cap: 3.16 Bil Enterprise Value: 2.86 Bil PE Ratio: 9.51 PB Ratio: 1.82 GF Score: 80/100

Half Year 2024 Spectris PLC Earnings Call Transcript

Jul 30, 2024 / 07:00AM GMT

Release Date Price: $17.6

Transcript

Andrew Heath

Spectris PLC - Chief Executive Officer, Executive Director

Well, good morning, and welcome to our presentation of our results for the first half of 2024. With me is Derek Harding, our CFO.

By way of starting and characterizing the first half of the year, I would say we've continued to deliver strong strategic execution in the face of softer end markets. After three years of double-digit growth and against the backdrop of ongoing macroeconomic uncertainty, 2024 was always going to be a slower year for the group before returning to growth in 2025 and '26.

During the first six months, we've experienced weaker overall demand, albeit conditions across our end markets continues to be mixed with some parts growing strongly, while others remain subdued. As we said last month, our first-half performance reflects a combination of softer underlying trading, which reduced our first-half sales and operating profit by around GBP50 million and GBP10 million, respectively, but also secondly, temporary delays relating to the implementation of our new ERP system, which went live across

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