Logotype for De La Rue plc

De La Rue (DLAR) investor relations material

De La Rue H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for De La Rue plc
H1 2025 earnings summary12 Dec, 2024

Executive summary

  • Adjusted operating profit for H1 25 was £7.3m, ahead of guidance, despite a 10.2% revenue decline due to timing shifts in Currency deliveries.

  • IFRS operating profit turned positive to £1.3m from a prior loss, reflecting business transformation.

  • Record Currency order book of £338m at November 2024, tripling in 14 months and supporting future growth.

  • Announced sale of Authentication division to Crane NXT for £300m, expected to complete in H1 2025, enabling net cash position and significant pension deficit reduction.

  • Major progress in streamlining operations and resolving legacy issues.

Financial highlights

  • Revenue for H1 25 was £145.1m, down 10.2% year-over-year; gross profit margin increased to 26.8%.

  • Adjusted operating profit was £7.3m, down 7.6% year-over-year; IFRS operating profit improved to £1.3m from a £3.4m loss.

  • Free cash flow was negative £18.4m, mainly due to working capital outflow and inventory build.

  • Net debt increased to £109.4m from £89.4m at FY24, with all covenant tests met.

  • Exceptional pretax items totaled £5.5m, mainly related to Authentication separation and site restructuring.

Outlook and guidance

  • Currency revenue expected to rebound in H2, with full-year adjusted operating profit guided to mid-to-high £20m.

  • Strong double-digit EBITDA growth in Currency expected for FY26, supported by robust order book.

  • Sale of Authentication division will enable net cash position and significant pension deficit reduction.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

De La Rue plc is a UK-based company specializing in the production of secure currency and authentication solutions. The company designs and manufactures banknotes, passports, and other secure documents for governments, central banks, and commercial organizations worldwide. In addition to currency printing, De La Rue offers security features and anti-counterfeiting technologies, including holograms and polymer substrates, to ensure document integrity and reduce fraud. The company also provides authentication services for brand protection and tax verification, helping clients safeguard against counterfeiting in multiple sectors. The company is headquartered in Basingstoke, United Kingdom, and its shares are listed on the LSE.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage