Organic revenue growth (%)
A strong sales performance across all divisions has resulted in strong organic revenue growth.
Cash conversion (%)
Our continued focus on generating cash has resulted in another excellent year of cash conversion.
Underlying earnings per share (EPS) (p)
Underlying EPS has increased by 30 per cent, thanks to an improvement in underlying operating profit and reduced interest expense.
Return on invested capital (%)
Return on invested capital has improved by 140 basis points with increased operating profit on a broadly unchanged capital base.
Safety performance (No. of incidents)
We have improved our safety performance again this year, reducing the number of accidents at our sites. This strong performance reflects our continued focus on building a safety culture at each of our sites. Since 2015, we have more than halved the number of lost time accidents. We continue to strive towards zero harm.
Engagement across the Group has improved as we continue to focus on “BE TT”, the culture we aspire to, and our “TT Way” behaviours. Engagement has been improving as we continue to listen to our employees’ views on how to continue to make TT a great place to work.
R&D spend (% of sales*)
We have increased the cash spend on focused R&D, as our revenue has grown. We increased the cash spend by 4 per cent at constant currency. We continue to incrementally increase R&D spend to focus on new product development.
All KPIs have been restated for continuing operations.
* Sales include revenues from the Sensors and Specialist Components and Power Electronics division. It does not include sales from the Global Manufacturing Solutions division as this division does not consume R&D.