AGM Statement
Summary by AI BETAClose X
Victoria PLC
('Victoria' or the 'Company')
AGM Statement
Victoria PLC (LSE: VCP), the international designer, manufacturer and distributor of innovative flooring, provides an update to shareholders ahead of its Annual General Meeting ('AGM') to be held today at the offices of Brown Rudnick LLP, 8 Clifford Street, London, W1S 2LQ at 12.00 pm BST.
The Board was pleased to complete the refinancing of the Company's 2026 senior debt maturities last month on attractive terms. Trading conditions continue to be in line with those highlighted at the time of the FY2025 results announcement in July, and the Board remains confident in the medium-term recovery of both volume and pricing across its end-markets. Management's immediate focus remains on delivering self-help initiatives outlined at the recent full year results (which once complete are expected to deliver £70m annual EBITDA improvements vs FY2025), generating cash to deleverage, and rebuilding the Company's credit rating.
Executive Chairman Geoff Wilding commented: "The refinancing was an important step following a challenging macro-environment over the previous two years, and provides the flexibility to drive significant operating improvements across the business to take full advantage of the next cycle as it emerges."
For more information contact:
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Victoria PLC Geoff Wilding, Executive Chairman Philippe Hamers, Group Chief Executive Alec Pratt, Chief Financial Officer |
www.victoriaplc.com/investors-welcome Via Walbrook PR |
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Singer Capital Markets (Nominated Adviser & Joint Broker) Rick Thompson, Phil Davies, James Fischer |
+44 (0)20 7496 3095
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Berenberg (Joint Broker) Ben Wright, Harry Nicholas, Tom Ballard |
+44 (0)20 3207 7800 |
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Walbrook PR (Joint Investor Relations) Paul McManus, Alice Woodings |
+44 (0)20 7933 8780 or victoria@walbrookpr.com +44 (0)7980 541 893 / +44 (0)7407 804 654 |
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Edelman Smithfield (Joint Investor Relations) Alex Simmons |
+44 (0)7970 174 252 or |
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About Victoria PLC (www.victoriaplc.com)
Established in 1895 and listed since 1963 and on AIM since 2013 (VCP.L), Victoria PLC, is an international manufacturer and distributor of innovative flooring products. The Company, which is headquartered in Worcester, UK, designs, manufactures and distributes a range of carpet, rugs, flooring underlay, ceramic tiles, LVT (luxury vinyl tile), artificial grass and flooring accessories.
Victoria has operations in the UK, Spain, Italy, Belgium, the Netherlands, Germany, Turkey, the USA, and Australia and employs approximately 5,350 people across more than 30 sites. Victoria is Europe's largest carpet manufacturer and the second largest in Australia, as well as the largest manufacturer of underlay in both regions.
The Company's strategy is designed to create value for its shareholders and is focused on consistently increasing earnings and cash flow per share via acquisitions and sustainable organic growth.
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