Weir Group ( (WEGRY) ) has released its Q4 earnings. Here is a breakdown of the information Weir Group presented to its investors.
The Weir Group PLC is a global leader in mining technology, providing sustainable solutions for the mining and infrastructure sectors. The company is renowned for its innovative products and services that enhance operational efficiency and sustainability in mining operations.
In its latest earnings report for the year ending December 31, 2024, Weir Group highlighted strong execution and demand acceleration in the second half of the year. The company reported upgraded targets for Performance Excellence savings and operating margins, alongside a strengthening project pipeline.
Key financial metrics showed a 9% increase in adjusted operating profit to £472 million, with an adjusted operating margin of 18.8%, significantly ahead of the previous year. The company achieved a free operating cash conversion rate of 102%, surpassing its target range, and reduced net debt to EBITDA to 0.7x. Notable orders included £67 million for the Reko Diq and OCP expansion projects, reflecting robust demand for sustainable mining solutions.
Looking ahead to 2025, Weir Group anticipates growth in constant currency revenue, operating profit, and margins. The company expects to deliver £20 million in Performance Excellence savings and aims to achieve operating margins above 20% by 2026. With a strong order book and positive aftermarket demand drivers, Weir Group is well-positioned for continued growth in the mining technology sector.