TRADING PROFIT 2
RETURN ON SALES 2
PROFIT BEFORE TAX
HEADLINE EARNINGS PER SHARE3
For definitions of alternative performance measures, refer to Note 4 of the Group Financial Statements.
Headline results refer to continuing operations and exclude separately reported items.
2022 was a record year for Vesuvius despite difficult market conditions in the second half. These good results were made possible by the technological differentiation of our products and solutions, which enabled us to simultaneously compensate all cost inflation with price increases and gain market share.
In 2022 we spent £36m on R&D, developing innovative products and solutions in our six R&D centres that will enable our customers to optimise their efficiency.
We develop high-technology products that deliver quality enhancement, efficiency gains and energy savings to our customers. Our solutions help our customers to lower their production costs and improve efficiency, by improving product yield.
The pressure on industry to reduce greenhouse gas emissions is increasing. We work closely with our customers to develop new products and technologies to meet these challenges, with sustainability being a critical focus in new product development.
Our products deliver superior safety performance in hazardous areas of production. Our robotic solutions can replace operators in the most dangerous parts of our customers’ processes.
Our customers are focused on producing the higher-quality steel needed for automotive and power generation where the consistency of the finished steel is critical. We have a wide product and service offering designed to support the production of high-technology steel throughout our broad, global manufacturing base.