Our investment proposition.
A market leading position with room to grow.
A clear strategy with solid foundations.
A proven track record and strong financial position.
A values-based culture.
Delivering record results.
In 2023...
... and over the last 5 years (CAGR 2018 - 2023)
With an outlook for long-term growth.
Organic revenue.
- Structural market growth (AVIXA c.5–6% per annum)
- Trend towards increased use of distribution
- Further market share opportunities – notably in North America
Gross margin progression.
- Continue to focus on higher margin technical products
- Continue value-added approach
- Focus on new software/services/rental revenue streams
Enhanced by M&A.
- Fragmented market, with many opportunities
- Proven acquisition and integration model
- Demonstrable ability to add value to businesses acquired
Cost base management.
- Operational leverage from scale
- Productivity from new systems
- Interest cost upside if rates fall
Built on disciplined capital allocation.
1.
Organic investment in working capital, infrastructure and our teams to develop and grow the core business
2.
Organic investment into new technologies or brands to support above market growth
3.
Acquisitions to add new product capabilities and/or new geographies
4.
Progressive dividend policy and/or share buyback to recognise our shareholders' support
