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Investing.com -- Shares of Ibstock climbed 6.5% following the release of their financial results which reported an EBITDA in line with the company’s January guidance and the latest consensus.
The company’s management expressed confidence in having increased market share in the second half of 2024 without sacrificing pricing power. Additionally, Ibstok’s end-of-year net debt was disclosed, aligning with prior disclosures.
The company’s EBITDA for 2024 matched the guidance set earlier in January and the latest consensus estimate of approximately £79.6 million.
Despite a delay in approximately £5 million of growth capital expenditures from 2024 to 2025, the management is optimistic about returning to their target net debt to EBITDA range of 0.5-1.5x within the current year, as they anticipate an increase in EBITDA.
The outlook for Ibstok also provided some additional details. The company reported an increase in volume in the early weeks of 2025 compared to the same period last year, with double-digit growth noted, albeit against easy comparables.
Furthermore, around two-thirds of the company’s energy requirements for 2025 have already been secured, and they expect EBITDA to be weighted towards the second half of the year, coinciding with a projected improvement in the market.
Analysts from Jefferies commented on the company’s outlook, stating, "We do not expect changes to consensus on the back of today with management retaining their prior view on 2025 (volume growth of c.+5%, low-to-mid-single-digit price inflation, EBITDA of c.£90m which consensus expectations already reflect)."
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