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Marlowe (MRL) investor relations material
Marlowe Trading Update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Financial and strategic highlights
Completed divestment of selected GRC assets for £430 million and returned £150 million to shareholders via special dividend.
Launched £75 million share buyback, nearing completion, with £66 million returned to shareholders in FY25.
Demerged Occupational Health division, forming Optima Health plc as a separately listed entity.
Continuing operations now focused on Testing, Inspection & Certification (TIC) markets, specifically Water & Air Hygiene and Fire Safety & Security.
Net cash position of £22 million at year-end, with £50 million debt facility undrawn.
FY25 trading performance
Expected FY25 revenue of approximately £305 million and adjusted EBITDA of £32.5 million, both in line with market expectations.
Adjusted profit before tax anticipated at £18.5 million, ahead of consensus.
Strong cash generation exceeded expectations, supporting shareholder returns.
All restructuring activities for continuing operations concluded by 30 September 2024.
One-off non-cash adjustment of £3.1 million in Water & Air Hygiene segment, with no impact on future trading or cash flow.
Acquisition and growth strategy
Acquired SludgeTek for an enterprise value of £6.2 million, strengthening wastewater services offering.
SludgeTek generated £5.3 million revenue and £1.7 million adjusted EBITDA in year ended 30 September 2024.
Acquisition expected to be easily integrated, with no restructuring costs anticipated.
Actively assessing further bolt-on acquisitions in Water & Air Hygiene and Fire Safety & Security.
Strategy remains focused on margin enhancement, organic growth, and market consolidation.
- TimeTickerHeadlineOpen
- 7 FebSBIN
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Record revenues and assets, higher dividend, and acquisitions despite lower net income.
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