Admission to Trading on the London Stock Exchange 23 June 2014

Volution Group plc is a leading supplier of ventilation products with primary markets in the UK and Northern Europe. We aim for our products to enhance customers' experience of ventilation by reducing energy, improving design and making them easier to use.
We operate through two divisions: the Ventilation Group, which primarily supplies ventilation products for residential construction applications in the UK, Sweden, Norway and Germany and ventilation products for commercial construction applications in the UK; and Torin-Sifan, which supplies motors, fans and blowers to OEMs of heating and ventilation products for both residential and commercial construction applications in Europe.

http://www.volutiongroupplc.com/home

Shares - Volution has the war chest for acquisitions and looks undervalued, Liberum's Charlie Campbell sees the stock as a 'Buy' with a target price of 177p.

Acquisition
RNS
RNS Number : 3886K
Volution Group plc
16 April 2015





Thursday 16th April 2015



VOLUTION GROUP PLC

Volution Acquires Brüggemann Energiekonzepte GmbH

Extending our sales network in Northern Germany



Volution Group plc ("Volution" or "the Group" or "the Company", LSE: FAN), a leading supplier of ventilation products to the residential construction market, today announces that it has completed the transaction to acquire 100% of the shares in Brüggemann Energiekonzepte GmbH ("Brüggemann"), a leading supplier of decentralised heat recovery ventilation in the Northern area of Germany.



Brüggemann has an extensive list of and long term relationships with, installers and end user customers in the Hamburg and surrounding area of Germany. The acquisition of Brüggemann is expected to grow Group revenues by approximately €2 million p.a.

Commenting on this acquisition, Ronnie George, Chief Executive Officer, said:

"We are delighted to have completed the transaction to acquire Brüggemann. This addition to our ventilation operations will significantly extend our coverage in the Northern area of Germany around Hamburg. Decentralised heat recovery ventilation is an attractive market in Germany and we are pleased to bring this extra experience and knowledge into the Group to assist us with our plans for growth."

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Acquisition
RNS
RNS Number : 6849S
Volution Group plc
10 July 2015





Friday 10 July 2015



VOLUTION GROUP PLC

ACQUISITION OF VENTILAIR GROUP INTERNATIONAL



Extending our footprint in Europe



Volution Group plc, through one of its wholly owned subsidiaries, ("Volution" or "the Group" or "the Company", LSE: FAN), a leading supplier of ventilation products to the residential construction market, today announces that it has signed an agreement for the acquisition of Ventilair Group International BVBA ("Ventilair") and its subsidiary operations in Belgium and the Netherlands1. The consideration for the acquisition is €16.3 million2 (approximately £11.6 million), on a debt free, cash free basis, to be funded from the Group's existing cash and banking facilities.

Headquartered in Kuurne, Belgium, Ventilair is a leading manufacturer and distributor of residential ventilation products, including centralised systems with heat recovery, primarily in the Belgian and Dutch markets. In the year ended 31 December 2014, Ventilair generated revenue of €14.3 million (approximately £10.2 million)3. The adjusted4 earnings before interest and tax were €1.5 million (approximately £1.1 million) and gross assets were €11.5 million (approximately £8.2 million), of which, €5.9 million relates to goodwill in Ventilair. The transaction is expected to be immediately earnings enhancing, and will be reported under Volution's Ventilation Group division.

Mr Kurt Declerck5, founder and owner of Ventilair, will step down from his role as Group Managing Director on completion of the transaction, but has agreed to support the integration of Ventilair into Volution during the period immediately following the acquisition.

The acquisition is expected to complete on 5 August 2015.

Commenting on the acquisition:

Ronnie George, Chief Executive Officer of Volution, said:

"We are delighted to sign this agreement to acquire Ventilair which has been a trading partner of Volution for approximately ten years. In that time it has developed into one of the leading ventilation providers in the Belgian market; focussing extensively on central system ventilation, mainly with heat recovery. The acquisition of Ventilair increases Volution's exposure to this growing market sector as well as widening the Group's existing product portfolio. This additional access to market and enhanced product range will greatly assist us in our future plans for growth."

Kurt Declerck, founder and owner of Ventilair, said:

"I am delighted to have completed the sale of my businesses to Volution, our preferred partner, and I am confident that Ventilair will continue to thrive and grow as part of this leading specialist ventilation group."



1 The transaction also includes the acquisition of a small legal entity in France (Ventilair SARL), a minor subsidiary of Ventilair Group.

2 The consideration includes the benefit of a negotiated two year rent free period to the value of €0.4 million and is subject to certain adjustments under an agreed completion accounts mechanism in the share purchase agreement.

3 If the business had been consolidated into the Volution Group for the year ended 31 December 2014 our Group revenues would have been increased by approximately £8.5 million after the elimination of sales from the Group to Ventilair on consolidation.

4 Volution uses some alternative performance measures to track the underlying performance of the business, such as Adjusted EBIT. The board considers that these measures which exclude exceptional and other unusual items give a more useful indication of the underlying performance of the business.

5 Kurt Declerck owns 96.3% of the shares in Ventilair, with his wife Els Feys owning the remaining shares.



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Trading Update
RNS
RNS Number : 7747V
Volution Group plc
12 August 2015







For immediate release: Wednesday 12 August 2015



Volution Group plc

Trading Update

Strong top line growth, in line with expectations



Volution Group plc (LSE: FAN; "the Group"), a leading supplier of ventilation products to the residential and commercial construction market, today announces a trading update, following the completion of its financial year on 31st July, 2015.

Revenue in the 12 month period was £130 million a 7.9% increase compared with the prior year (12.4% on a constant currency basis). This comprised 1.0% organic growth (4.9% on a constant currency basis), with 7.5% the result of acquisitions (on a constant currency basis), including the acquisition of Brüggemann Energiekonzepte, completed in April 2015 and the full year effect of the acquisition of inVENTer in April 2014.


Organic growth was helped by an increase in new build residential systems sales in the UK where the Group enjoyed a 17.7% growth in sales for new house applications. The acquisition of Brüggemann in Germany, is being integrated into the wider Group; this integration is progressing well, in line with the anticipated timetable.

The Group continues to enjoy strong demand for its products, especially newer, higher value-add ventilation systems and quieter, more energy efficient fans, with several new products launched towards the end of the financial year 2015.



The full year results for 2015 will be announced on 16th October 2015.


Ronnie George, Chief Executive Officer of Volution Group plc, said:

"This has been another year of strong progress for the Group. In our first full financial year since listing on the London Stock Exchange in June 2014, we have delivered both organic and acquisition led growth. We are also delighted to have completed the acquisition of the Ventilair Group on the 5th of August 2015 and the process of integration and optimisation is progressing well.



In spite of the significant impact of largely translational currency headwinds, mitigated by revenue growth and further margin expansion, the Group expects its full-year results to be in line with the Board's expectations."



Ends

12 Aug Liberum Capital 180.00 Buy

Final results

Highlights



Financial:

· Results ahead of our expectations despite significant currency headwinds.

· Revenue growth of 7.9% (12.4% at constant currency) comprised of:

Ø Organic revenue growth of 1.0% (4.9% at constant currency).

Ø Inorganic revenue growth of 6.9% (7.5% at constant currency) mainly as a result of the full year effect of the acquisition of inVENTer in April 2014.

· Ventilation Group revenue growth was 10.0% (14.9% at constant currency) including UK Residential New Build growth of 17.7%.

· OEM (Torin-Sifan) revenue fell slightly due to a difficult end market for boiler spares during the mild winter.

· Adjusted operating profit increased by 10.9% to £29.4 million from £26.5 million in 2014 (18.8% at constant currency) a margin of 22.6% of revenues (2014: 22.0%).

· The Group's reported profit before tax of £15.5 million (2014: loss of £15.5 million) improved significantly, helped by lower finance costs of £2.0 million (2014: £21.2 million) and lower exceptional items of £0.7 million (2014: £7.8 million).

· Continued strong cash generation reduced year end net debt to £21.2 million (2014: £42.9 million).

· Final dividend proposed of 2.25 pence per share.

Final results

Financial highlights
·      Four acquisitions completed in the year broadening our geographic range and routes to market.
·      Revenue growth of 18.7% (18.6% at constant currency) comprised:
·      organic revenue growth of 3.0% (3.1% at constant currency); and
·      inorganic revenue growth of 15.7% (15.5% at constant currency) as a result of acquisitions.
·      Adjusted operating profit growth of 10.4% to £32.5 million (10.3% at constant currency).
·      As anticipated, adjusted operating profit margin declined by 1.6%, as a consequence of new acquisitions. Like-for-like adjusted operating profit margin improved by 0.2 percentage points to 22.8%.
·      Reported profit before tax of £18.4 million (2015: £15.5 million).
·      Net debt increased as a result of four acquisitions made in the year; adjusted EBITDA ratio of 1.0x.
·      Full year dividend of 3.80 pence per share, up 15.2%.
·      Adjusted EPS growth of 14.5% to 12.6 pence (2015: 11.0 pence).
 
Strategic highlights
·      We saw an increase in sales of high end products such as quiet, silent and energy-efficient fans and the launch of a range of app-controlled fans in the Group, driving organic growth.
·      Four acquisitions completed during the year with all integration activity progressing as anticipated:
·      Ventilair provides the Group with access to markets in both Belgium and the Netherlands.
·      Energy Technique (trading as Diffusion) complements the Group's leading position in the UK with its strong position in the niche market of fan coils for heating and cooling of both commercial and residential buildings. Diffusion sells mainly into the new build market.
·      NVA Services (trading as National Ventilation and Airtech) provides the Group with additional brands and routes to the UK market. It supplies ventilation products for both residential and commercial applications.
·      Welair, a small heat recovery manufacturer in Sweden, provides the Nordic business with a wider product portfolio and greater exposure to the new build market.
·      OEM (Torin-Sifan) revenue growth was assisted by growth in the Electronically Commutated (EC) motor sales category in both the heating and ventilation markets.

11 Oct
Canaccord...
205.00
Buy

11 Oct
Numis
184.00
Hold

11 Oct
Liberum Capital
200.00
Buy

Acquisition of Breathing Buildings Ltd
RNS
RNS Number : 1696S
Volution Group plc
19 December 2016
 
 
Monday 19 December 2016
 
VOLUTION GROUP PLC
ACQUISITION OF BREATHING BUILDINGS LIMITED
 Widening Volution's capability with a leader in natural and hybrid ventilation
for commercial buildings
 
Volution Group plc ("Volution" or "Group", LSE: FAN) a leading supplier of ventilation products to the residential and commercial construction markets, announces that, in line with its strategy, it has acquired the entire share capital of Breathing Buildings Limited ("Breathing Buildings"). The deal provides an exit for the company's previous backers including MMC Ventures.
Breathing Buildings is based in Cambridge, United Kingdom and was formed in 2006 by Dr Shaun Fitzgerald from a collaboration between Cambridge University and Massachusetts Institute of Technology. Since then, Breathing Buildings has developed its own hybrid ventilation1 technology niche for the UK commercial ventilation market and is now a UK market leading designer, manufacturer and supplier of energy efficient, intelligently controlled natural and hybrid ventilation solutions. 
Breathing Buildings generated revenue of £7.8 million in its year ended 31 March 2016. The acquisition was funded from the Group's existing bank facilities and is expected to be immediately earnings enhancing.  It will be reported under Volution's Ventilation Group division in the UK where it will widen our capability in the attractive new build commercial market.
Commenting on the acquisition, Ronnie George, Chief Executive Officer of Volution, said:
"I am delighted that we have completed this acquisition and look forward to welcoming Dr Fitzgerald and his team to the Volution Group. Breathing Buildings has developed a market leading position in the UK for natural and hybrid ventilation in commercial buildings and we are excited about their potential for continuing growth."
Dr Shaun Fitzgerald, founder, CEO and shareholder of Breathing Buildings, said:
"Becoming part of the Volution Group will enable us to maintain our focus on growth through new product development and the provision of a more comprehensive offer to our client base.  I am excited about the opportunity to continue working with the business in the next phase of its development. Being part of the Volution Group offers significant new opportunities."
 
1 Hybrid ventilation is the use of natural ventilation when external weather conditions are favourable, combined with the use of mechanical ventilation at other times.
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19 Dec
Canaccord...
205.00
Buy
19 Dec
Liberum Capital
206.00
Buy

Interim results

Financial highlights

●
Revenue growth of 11.6% (10.3% at constant currency):
●
Organic revenue growth of 6.3% (5.1% at constant currency),
●
Inorganic revenue growth of 5.3% (5.2% at constant currency).
●
Adjusted operating profit increased by 6.7% to £18.3 million (6.4% at constant currency).
●
As anticipated, adjusted operating profit margin declined by 0.9 percentage points, partly as a consequence of the effect of acquired businesses with lower margins than the Group.
●
Reported profit before tax of £10.1 million (H1 2017: £8.8 million), benefiting from the release of contingent consideration on the acquisition of VoltAir System which will not be paid.
●
Adjusted operating cash inflow was £11.8 million (H1 2017: £16.4 million).
●
Refinancing of banking facilities. The Group now has in place a £120 million multicurrency revolving credit facility together with an accordion of up to £30 million, maturing December 2021.
●
Interim dividend of 1.46 pence per share, up 8.1% (H1 2017: 1.35 pence).




Strategic highlights

●
The process of consolidating our existing Slough and Reading facilities in to a single new, purpose built injection moulding and fan assembly facility at Suttons Business Park in Reading, has commenced. We expect to complete the relocation by the end of the financial year.
●
Further progress in our German business with the launch of our new Xenion decentralised heat recovery ventilation system, with improved air flow performance and low noise, enhancing our position as a leading supplier to both the new and refurbishment market for residential homes in Germany.
●
Further extension of our public housing range of ventilation equipment for the refurbishment market in the UK is helping us gain new customers in spite of the current funding cutbacks in this sector.
●
OEM (Torin-Sifan) has seen an excellent take up of its new high-efficiency Revolution 360 range of EC fans, more commonly known as EC3, with further capacity investment underway to support the growth in sales.