Halma Plc Annual Report: A Year of Growth and Investment

Halma Plc, a global group of life-saving technology companies, has announced its full-year results for the 12 months to 31 March 2023. The company reported strong financial performance, with several notable achievements that demonstrate its commitment to growing a safer, cleaner, and healthier future for everyone.

One of the highlights of Halma's annual report is the increase in dividend per share, which rose by 7% to mark the 44th consecutive year of dividend growth of 5% or more. The company also invested £7 million more in technology, bringing the total investment to £18 million, and increased its research and development expenditure by £17 million to £103 million.

Halma's strategic investments have been instrumental in driving its growth. In the past year, the company completed seven acquisitions for a maximum total consideration of £397 million and two further acquisitions since the period end for approximately £57 million. This has enabled Halma to expand its capabilities and strengthen its position across various sectors.

The company's cash conversion rate stood at 78% (90% in the second half of the year), with a strong balance sheet supporting its investment in organic growth and acquisitions. The net debt-to-EBITDA ratio improved to 1.38x, compared to 0.74x in 2022.

Halma's financial performance was also marked by record revenue, up 21%, and 10% on an organic constant currency basis. Adjusted profit before taxation rose by 14%, with the company reporting its 20th consecutive year of record profit.

The company's return on sales (ROS) 4 increased to approximately 20% in FY 2024, while its return on total invested capital (ROTIC) 5 was 14.8%. Halma also reported broad-based revenue growth across all sectors and regions, with adjusted profit growth in all sectors.

In summary, Halma Plc's annual report highlights the company's commitment to investing in its future growth, with significant investments in technology, research and development, and acquisitions. The company's strong financial performance, record revenue, and continued dividend growth demonstrate its ability to deliver value to shareholders while driving progress towards a safer, cleaner, and healthier future for everyone.

Halma annual report