- Synthomer
- 11 March 2025 08:29:05
Source: Sharecast
The specialised polymers and ingredients manufacturer forecast that it would turn free cash flow positive in 2025 and reduce debt "even without a significant improvement in market conditions".
Management also indicated that trading since the start of the year had been in line with its expectations for a "muted" start to 2025 in comparison to the relatively strong first three months of 2024.
For the year ending on 31 December, revenues edged up by 2.4% to £1.94bn or 5.1% at constant currencies.
On an underlying basis, earnings before interest and tax improved by 50.9% to £50.4m.
The underlying loss before tax meanwhile was pared from £31.1m one year before to £7.2m.
Free cash flow worsened to -£54.7m from £85.7m one year before, as a result of a non-recurring EC fine settlement, deferred pension contributions and the reduced use of a committed receivables financing facility at the end of the year.
Net debt increased 20% to £597m.