Vesuvius PLC
LSE:VSVS
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Vesuvius PLC
Vesuvius PLC, a name that echoes with resilience and innovation, traces its origins to the 1916 founding of The United Brick Corporation. Over the decades, it evolved into a global leader in the design, manufacture, and service of high-technology ceramics, catering predominantly to the steel and foundry industries. The company stands at the crossroads of tradition and technology, where its mastery of refractory products becomes an essential component in industries that forge the infrastructure of our modern world. By providing adept solutions to manage the extreme temperatures endured in steel production, Vesuvius quite literally lays the foundation for success in one of the world’s most demanding industries.
The lifeblood of Vesuvius is its diverse portfolio of engineered ceramics and systems that drive performance and productivity enhancements in steel and foundry operations. Operating through well-defined segments including Steel Flow Control and Advanced Refractories, the company thrives on its ability to adapt and innovate for efficiency, safety, and sustainability. In steelmaking, for instance, Vesuvius' products ensure the controlled flow of molten metal, vital for quality assurance and process optimization. These specialized solutions foster not just reliability but continuous improvement, securing Vesuvius a critical position in the global supply chain. As industries advance, Vesuvius continues to expand its technological horizons, attuned to the ever-evolving demands of its clients, turning cutting-edge ceramics into tangible value.
Vesuvius PLC, a name that echoes with resilience and innovation, traces its origins to the 1916 founding of The United Brick Corporation. Over the decades, it evolved into a global leader in the design, manufacture, and service of high-technology ceramics, catering predominantly to the steel and foundry industries. The company stands at the crossroads of tradition and technology, where its mastery of refractory products becomes an essential component in industries that forge the infrastructure of our modern world. By providing adept solutions to manage the extreme temperatures endured in steel production, Vesuvius quite literally lays the foundation for success in one of the world’s most demanding industries.
The lifeblood of Vesuvius is its diverse portfolio of engineered ceramics and systems that drive performance and productivity enhancements in steel and foundry operations. Operating through well-defined segments including Steel Flow Control and Advanced Refractories, the company thrives on its ability to adapt and innovate for efficiency, safety, and sustainability. In steelmaking, for instance, Vesuvius' products ensure the controlled flow of molten metal, vital for quality assurance and process optimization. These specialized solutions foster not just reliability but continuous improvement, securing Vesuvius a critical position in the global supply chain. As industries advance, Vesuvius continues to expand its technological horizons, attuned to the ever-evolving demands of its clients, turning cutting-edge ceramics into tangible value.
Revenue Growth: Vesuvius reported a strong recovery in 2021, with revenue up 18% on an underlying basis and 13% on a reported basis versus 2020.
Profit Improvement: Trading profit increased by 50% underlying and 40% reported, while return on sales rose by 190 basis points.
Dividend Increase: The board proposed a full year dividend of £0.212, a 22% increase over 2020.
Market Share Gains: Significant market share gains were achieved in both Flow Control and Foundry divisions, underpinned by successful price increases.
Cost Inflation Passed Through: Management emphasized their ability to pass through cost inflation via price increases, though timing mismatches caused a £14 million headwind.
Sustainability Progress: Notable progress on sustainability, including a 16.5% reduction in CO2 emissions since 2019 and an improved MSCI rating.
Positive 2022 Outlook: Management is confident about further improvement in financial performance for 2022 despite some softness in China and geopolitical uncertainty.
Strategic Investments: Continued investment in R&D and capacity will support future growth and market share.
