Investor Meet Podcast - AI t2s65

EasyJet PLC’s latest investor update highlights steady progress in executing its FY25 growth strategy, underpinned by resilient customer demand, expanding EasyJet Holidays, and a clear path to sustainable margin expansion. With 42% of peak summer seats already sold—2% ahead year-on-year—and winter losses narrowed after adjusting for Easter timing, trading momentum remains strong. EasyJet Holidays delivered £43m winter profit and is on track to exceed its £250m medium-term profit before tax target. The Group continues to modernise its fleet, replacing ageing A319 aircraft with more efficient A320neo and A321neo models, expected to boost productivity and reduce unit costs by £3 per seat by FY28. The book value of EasyJet’s owned fleet is set to rise 60% over this period, reinforcing its robust £4.6bn investment-grade balance sheet. Strategic expansion at slot-constrained airports - including new bases in Milan, Rome, Southend, and Newcastle - s EasyJet’s vision of building Europe’s best short-haul network. Efficiency gains are also being driven by in-house maintenance capabilities and AI-driven operational planning tools. In-flight retail revenues rose 15% per seat, with further upside targeted through product personalization and brand partnerships. Management reaffirmed confidence in delivering its medium-term targets, including over £1bn profit before tax, high-teens ROCE, and 35% capacity CAGR. Dividends have resumed, with a 20% payout of post-tax profits reflecting EasyJet’s commitment to shareholder returns.

Hollywood Bowl Group delivered a record first-half performance for FY25, reporting revenue growth of 8.4% to £129.2 million and adjusted EBITDA of £38.8 million, up 8.8% despite inflationary pressures and weather-related headwinds. UK like-for-like revenue grew 1.5%, ed by 6.3% growth in spend per game. In Canada, revenue rose to CAD $38 million, driven by new centre openings and a doubling of supply-partner Striker’s revenue. The Group opened five new centres—three in the UK and two in Canada—while progressing its refurbishment programme targeting 33% ROI. Net cash stood at £22.7 million post a £10 million share buyback, with a newly secured £25 million revolving credit facility undrawn. Statutory profit before tax was £28.3 million, with EPS of 12p. The Board declared an interim dividend of 4.1p, in line with a revised 34% payout policy of the prior year’s total dividend. Hollywood Bowl reaffirmed its capital allocation strategy focused on organic growth, disciplined investment, and shareholder returns. In Canada, EBITDA has grown from CAD $2.8m to CAD $9.5m since acquisition, with a clear roap for growth through new site formats and refurbishments. With a robust pipeline, leading market position, and proven resilience, the Group is well positioned to deliver long-term revenue and EBITDA growth across both markets.

Braemar plc delivered a resilient FY25 performance, underpinned by a robust diversification strategy and disciplined cost management. Despite a 7% decline in revenue to £141.9 million, driven by softer tanker and dry cargo rates in H2, underlying operating profit margin was maintained at 12%, reflecting tight cost control and operational efficiencies. The Group's investment advisory division saw strong 18% growth, highlighting the effectiveness of its broader revenue mix. Net debt of £2.5 million at year-end was quickly reversed in line with Braemar's typical working capital cycle. A solid forward order book of $82.2 million underscores revenue visibility, while total shareholder returns were maintained through a £2 million share buyback and a revised final dividend of 2.5p. Looking ahead, Braemar has launched a refreshed strategic framework targeting £200m in revenue by FY30 and a 15% EBITDA margin, ed by continued investments in talent, digital infrastructure, and M&A opportunities. Regulatory tailwinds, an ageing global fleet, and increasing demand for decarbonised shipping solutions present significant growth opportunities. With global presence across 18 offices and a focus on operational excellence, Braemar remains well positioned to capitalise on shipping market dynamics, enhance margins, and deliver long-term shareholder value.

Touchstone Exploration Inc. (LSE:TXP) delivered a comprehensive investor update highlighting its strategic transformation and near-term growth catalysts. The company reaffirmed its focus on onshore Trinidad operations, ed by robust infrastructure, a favourable regulatory environment, and a stable production base. Key financial results for Q1 include 4,300 BOE/d production and over 50 million BOE in 2P reserves, underpinning a 13-year reserve life. The recent $23M Central Block acquisition marks a pivotal shift, enabling access to higher-priced LNG markets and expanding production capacity to 72,000 BOE/d. The company is launching a fully funded "drill-to-fill" programme, aiming to convert significant reserves into cash flow through back-to-back well development. Despite historic drilling challenges and production declines at Cascadera, Touchstone has revamped its drilling strategy, optimised well designs, and brought in top-tier consultants to improve well performance and cost-efficiency. Management is targeting Q3–Q4 2025 for increased production volumes, ed by a continuous drilling schedule and upgraded infrastructure. Investors were also reassured on pricing: Central Block gas commands rates from day one, with further uplift expected post-2027. With a strong balance sheet, control over three gas plants, and an expanded acreage portfolio, Touchstone is well-positioned to deliver enhanced EBITDA, margin growth, and long-term shareholder value. The update reflects Touchstone’s strategic evolution from exploration to production-led cash generation, aligning its asset base with market opportunities and investor expectations.

Investor Meet Company will be hosting SMITHS GROUP PLC - Introduction, at 22nd May 2025 at 2:00pm BST.

Camellia plc (LSE:CAM), a long-established UK-listed agricultural group, has outlined its strategic vision and FY2024 results, signaling a clear shift towards value creation through focused operational improvement, portfolio simplification, and disciplined investment. The group reported a narrowed trading loss of £5.5m and a substantial increase in net cash to £125m following key disposals, including BF&M and legacy finance operations. With 90,000 hectares of agricultural assets spanning tea, avocados, macadamia, and soybeans across Asia, Africa, and Latin America, Camellia is executing a Value Enhancement Plan targeting improved profitability, earnings stability, and sustainable growth. FY2024 saw operational streamlining, new leadership appointments, and increased investment in crop diversification, mechanisation, and climate-resilient farming—most notably, a major avocado farm development in Tanzania. The group also reinstated a £2.60 dividend and announced a shareholder tender offer at a 17% to the 3-month average share price. Looking ahead, Camellia plans £23–£35m annually in capital deployment and expects long-term earnings growth from maturing crops, margin expansion, and selective acquisitions. Backed by a robust balance sheet, high-quality assets, and a clear capital allocation strategy, Camellia offers investors a compelling turnaround story in international agriculture with the potential for enhanced returns, reduced volatility, and sustainable dividends.

Grainger plc (LSE:GRI), the UK’s largest listed residential landlord, reported robust half-year financial results, underpinned by strong operational performance and accelerated growth in its purpose-built build-to-rent (BTR) portfolio. Net rental income rose 15%, earnings increased 23%, and the dividend advanced 12%, reflecting resilient demand, efficient cost control, and strategic asset recycling. With over 11,000 homes in operation and a committed pipeline of 5,000 fully funded units, Grainger forecasts 50% earnings growth by FY29 and 25% by FY26. Occupancy remains high at 96%, gross-to-net margins have improved to 25%, and customer retention stands at a healthy 62%, ed by a scalable operating platform and technology-driven efficiencies. The company benefits from inflation-linked rental growth and is well-positioned within a structurally undersupplied rental market. Grainger is progressing toward REIT conversion by FY26, with minimal refinancing needs until 2029, over £200m in annual cash flow, and significant optionality from £1.1bn in low-yielding non-core asset sales. Management highlights long-term value creation through disciplined capital recycling, margin expansion, and sustainable 8%+ total ing returns—with current share price metrics implying an 11% return. Backed by strong fundamentals, low volatility, and a favourable regulatory outlook, Grainger offers investors compelling exposure to the UK’s high-growth BTR sector.

Creo Medical Group Plc (AIM: CREO), delivered a pivotal year of strategic transformation, marked by robust core revenue growth, operational efficiencies, and accelerating commercial traction. Core product revenue rose 74% to £4 million in 2024, driven by expanded adoption of its Speedboat and Chroma platforms, alongside new product launches including SpydrBlade, MicroBlate Flex, and Fine. With over 38 clinical investigators across 14 global studies, Creo has significantly scaled its clinical evidence base to wider adoption and reimbursement. The company strengthened its balance sheet with a successful strategic transaction with Micro-Tech, enhancing cash reserves and establishing a high-margin t venture with long-term revenue visibility. Operational streamlining is delivering £5 million in annualised cost savings, with additional efficiencies to follow as Creo moves toward an outsourced manufacturing model and improved EBITDA margins. Gross margin improved from 40% to 45%, with targets of over 60% in the medium term. Guidance for 2025 anticipates core revenue growth of 40–60%, ed by deeper product utilisation, geographic expansion, and a shift to quality recurring revenue. The outlook excludes speculative Comaptiv licensing deals, reflecting a prudent, execution-led strategy. With regulatory milestones largely complete, including CE and MDR clearances, Creo is well-positioned for commercial scalability and cashflow break-even by 2026. Investors can expect continued growth from the US, UK, and China, driven by strong partnerships, new product rollouts, and rising procedural demand in therapeutic endoscopy.

Likewise PLC delivered a strong investor update, reporting 7.4% revenue growth in FY24 to £150 million, with Likewise Floors achieving an impressive 15.5% sales increase. Gross margins improved to 30.7%, underlying EBITDA rose to £8.8 million, and the group generated £7.2 million in positive cash flow. ed by significant investment in logistics, an expanded distribution network, and strategic partnerships with leading flooring brands, Likewise is building operational leverage and targeting ambitious future growth. The company highlighted accelerating revenue momentum, with like-for-like sales up 11.5% in early 2025, driven by a strong order book, a robust market presence across the UK, and expanded customer reach. Management reiterated confidence in achieving over £200 million revenue in the coming years, backed by a debt-light balance sheet, substantial property assets, and ongoing investment in new product development and sales teams. A share buyback program has been launched, underlining the board’s commitment to enhancing shareholder returns while maintaining a disciplined growth strategy. Likewise continues to prioritize organic expansion, margin improvement, and operational efficiency, positioning itself as a market leader in the UK flooring distribution sector.

ACG Metals, a newly listed company on the London Stock Exchange, has delivered an impressive update, highlighting strong financial results, a fully funded growth strategy, and substantial near-term upside. Led by a seasoned team with a proven track record in mining M&A and asset development, ACG Metals generated nearly $90 million in free cash flow in 2024, maintains $190 million in cash reserves, and is advancing the sulphide expansion at its flagship Turkish asset. The company boasts a low-cost, high-grade resource base, securing first-quartile margins across gold, silver, copper, and zinc production. With a $200 million bond successfully raised and construction progressing on time and on budget, ACG is poised for a step-change in EBITDA and revenue as copper production commences in early 2026. Trading at a significant discount to peers—around 1x 2024 cash flow—the company’s growth plan includes strategic M&A targeting cash-generative assets in key copper belts. Backed by world-class partners, a strong order book, and a disciplined balance sheet, ACG Metals offers investors a rare combination of cash flow strength, margin expansion, and transformational growth potential.

Sainsbury’s FY2025 investor update highlights strong strategic and financial progress under its Next Level Sainsbury’s plan, driving a 15% increase in underlying profit and delivering £349 million in cost savings. Grocery sales grew 4.2% year-on-year, ed by leading value, quality, and service initiatives, including £1 billion in price investment and the expansion of Nectar Prices. Market share gains were the strongest in a decade, with primary customers up 18% over four years. Sainsbury’s delivered £531 million in retail free cash flow, maintained net debt within target ranges, and returned over £500 million to shareholders through dividends and buybacks. For FY25/26, the company targets £1 billion in retail underlying operating profit, continued grocery volume growth ahead of the market, and £800–850 million in strategic capital investment focused on new store openings, technology, and efficiency. Strong momentum across core food retail, expanding Nectar 360 media services, and a focus on sustainable, cash-generative growth position Sainsbury’s to navigate competitive pressures and enhance long-term shareholder returns.

AsiaMet Resources (AIM: ARS) has released its optimised feasibility study for the BKM Copper Project, targeting near-term copper production with a lower-risk, financeable development strategy. The Stage 1 project focuses on a 10,000 tonnes per annum copper cathode operation, with reduced capex of $178 million and a streamlined execution plan, driving an NPV of $122 million and IRR of 18%. With a 4.5-year payback and life of mine extending nearly 13 years, the company projects strong EBITDA margins and robust cash flow generation. Asia Met is advancing project financing discussions, ed by significant interest from international and local banks, traders, and strategic investors. The BKM project benefits from rising copper demand driven by global electrification trends, while offering substantial expansion potential through additional copper, polymetallic, and gold resources across the KSK Contract of Work. Ongoing lender engagement, a strong financing strategy, and a growing order book position Asia Met to deliver long-term shareholder value through scalable growth, improved margins, and strategic asset development.

Altona Rare Earths PLC delivered an important investor update, highlighting a major breakthrough at its Monte Muambe project in Mozambique with the discovery of significant gallium mineralisation alongside rare earths. This strategic find could enhance the project's future financial results by enabling gallium to be recovered as a valuable byproduct, alongside ongoing rare earths extraction efforts. Altona’s pre-feasibility study is progressing, with metallurgical and mineralogical testing underway to confirm gallium recovery potential, which may positively impact EBITDA and project economics. The company also outlined strong project fundamentals, including a mining license secured until 2049, positive resource estimates, and initiatives to advance its fluorspar development for early cash flow. Altona is actively pursuing strategic partnerships, ed by applications under the European Union Critical Raw Materials Act, to accelerate project development. With positive cash flow prospects, expanding critical mineral resources, and rising strategic interest in rare earths and gallium outside China, Altona Rare Earths is strengthening its growth strategy and advancing its position as an emerging supplier to global technology and energy markets.

Lords Group Trading PLC delivered a resilient full-year 2024 performance despite a challenging economic backdrop, highlighting strategic cost management, strong cash flow, and a clear growth strategy. Revenue declined by 5.6% to £436.7 million, reflecting broader market pressures, while adjusted EBITDA remained robust at £22.4 million. Merchanting showed solid recovery with Q4 revenue up 11%, and Plumbing & Heating revenues were ed by a 99% surge in renewables sales. Margin resilience, tight overhead control, and strategic investments in digital expansion, branch openings, and selective M&A positioned the company for market recovery. Lords completed a £13.1 million sale-and-leaseback, significantly reducing net debt and enhancing liquidity for future growth opportunities. The group remains committed to organic margin-accretive growth, driving operational efficiency, expanding its renewable energy offering, and leveraging its strong customer-first proposition. With a robust balance sheet, improving order book, and positive Q1 2025 momentum, Lords Group is well placed to capitalize on a recovering RMI market, lower interest rates, and ive government infrastructure policies.

CT Automotive Group PLC delivered a resilient FY24 investor update, demonstrating operational strength despite a 16% revenue decline to $119.7 million amid softer global automotive demand. Key highlights include a 600 basis point gross margin improvement to 28%, adjusted EBITDA growth to $16.3 million, and a 5% rise in adjusted profit before tax to $8.7 million. The company strengthened its balance sheet, reducing trade payables and borrowings while investing $3.2 million in automation and capacity enhancements. CT Automotive secured eight new contracts worth $38 million annually, expanding its global footprint across Europe, North America, and China. Leveraging vertical integration, digitization, and AI-driven efficiencies, the group maintained high-quality, low-cost production, positioning itself competitively amid industry shifts, including EV growth and tariff uncertainty. Strategic operational improvements, automation, and a disciplined cost structure underpin a platform for mid-single-digit revenue growth and further margin expansion in FY25. CT Automotive’s strong order book, scalable manufacturing model, and flexible global footprint, combined with a growing ESG focus and significant board share ownership, its long-term growth strategy and investor alignment.

CT Automotive Group PLC delivered a resilient FY24 investor update, demonstrating operational strength despite a 16% revenue decline to $119.7 million amid softer global automotive demand. Key highlights include a 600 basis point gross margin improvement to 28%, adjusted EBITDA growth to $16.3 million, and a 5% rise in adjusted profit before tax to $8.7 million. The company strengthened its balance sheet, reducing trade payables and borrowings while investing $3.2 million in automation and capacity enhancements. CT Automotive secured eight new contracts worth $38 million annually, expanding its global footprint across Europe, North America, and China. Leveraging vertical integration, digitization, and AI-driven efficiencies, the group maintained high-quality, low-cost production, positioning itself competitively amid industry shifts, including EV growth and tariff uncertainty. Strategic operational improvements, automation, and a disciplined cost structure underpin a platform for mid-single-digit revenue growth and further margin expansion in FY25. CT Automotive’s strong order book, scalable manufacturing model, and flexible global footprint, combined with a growing ESG focus and significant board share ownership, its long-term growth strategy and investor alignment.

Touchstar PLC (AIM: TST) presented its 2025 investor update, highlighting strategic initiatives to accelerate growth, expand margins, and enhance shareholder value. Despite a slight revenue dip in 2024, the group reinforced its strong cash position of £3 million, maintained profitability, and increased its dividend by 20%. With recurring revenue now representing 44% of total income, Touchstar is targeting further growth to over 50% through its unified sales strategy, cross-selling initiatives, and deeper market penetration in logistics, depot, warehouse, and retail sectors. The company is investing in organic expansion, exploring bolt-on acquisitions, and launching a structured share buyback program, returning £1 million to shareholders over the next year. Touchstar’s robust order book, clear financial roap, improving EBITDA, and strong operational cash flow underpin confidence in achieving 2025 targets and longer-term ambitions to scale both in the UK and internationally.

Trustpilot delivered a strong FY2024 performance, demonstrating its position as a leading global review platform. With over 300 million reviews and £230 million in annual recurring revenue, Trustpilot continues to expand its SaaS-driven model across key markets including the UK, US, , and Italy. The company achieved 21% bookings growth, a 55% increase in adjusted EBITDA, and improved net dollar retention to 103%, underpinned by product innovation and enhanced customer insights. Trustpilot’s focus on trust, transparency, and data integrity — powered by advanced fraud detection and AI tools — strengthens its competitive advantage. ed by strong cash generation and a disciplined capital allocation strategy, including ongoing share buybacks, Trustpilot targets sustainable mid-teens revenue growth and aims to achieve over 30% adjusted EBITDA margins. With high recurring revenue, expanding enterprise penetration, and a large addressable market, Trustpilot is well-positioned for scalable, long-term growth.

Cambridge Cognition (AIM: COG) announced its FY24 results, highlighting a successful strategic reset, improved financial performance, and a strong foundation for future growth. The brain health software specialist secured £7.4 million in new sales orders, achieved a near break-even adjusted EBITDA, and reduced its cost base by £4.4 million. The company’s order book expanded to £15.8 million in Q1 2025, providing clear revenue visibility and ing sustainable cash flow growth. Key milestones included launching an in-house rated training service, submitting a Letter of Intent to the FDA for schizophrenia trials, and partnering with Biogen and Apple in a landmark brain health study. Cambridge Cognition is focused on accelerating growth through a tier-one pharmaceutical client strategy, expanding clinical trials, healthcare, academic research, and emerging consumer markets. With a validated digital CNS platform, increasing brand recognition, strong scientific credibility, and a sharpened go-to-market strategy, the company aims to grow new sales orders to £75–100 million by 2030. Management reaffirmed its commitment to profitability, operational efficiency, and value creation through organic growth, partnerships, t ventures, and spin-outs.

Literacy Capital PLC provided a positive investor update, highlighting resilient company performance, long-term financial results, and a robust growth strategy. Net asset value (NAV) per share rose 3.8% in Q1 2025, with consistent double-digit NAV growth over the past five years excluding specific headwinds. Literacy Capital continues to build a concentrated portfolio of 21 high-margin, cash-generative private UK businesses, underpinned by a conservative leverage strategy and deep management engagement. Recent investments in Trinitatum and Langford’s Foods showcase a clear focus on value creation through operational improvement, M&A, and scalable growth. Management remains fully aligned with shareholders, holding a 40% stake, with no performance fees charged. The company’s commitment to ing literacy charities, with £11.6 million donated to date, enhances its ESG profile. With a strong order book, active pipeline, and confidence in market conditions for 2025, Literacy Capital is well-positioned to drive shareholder value while delivering meaningful social impact.