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The Weir Group PLC (WEIGF) CEO Jon Stanton on Q4 2020 Results - Earnings Call Transcript

Mar. 02, 2021 4:45 PM ETThe Weir Group PLC (WEIGF), WEGRY
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The Weir Group PLC (OTCPK:WEIGF) Q4 2020 Earnings Conference Call March 2, 2021 3:00 AM ET

Company Participants

Jon Stanton - Chief Executive Officer

John Heasley - Chief Financial Officer

Conference Call Participants

Max Yates - Credit Suisse

Mark Davies Jones - Stifel

Andrew Wilson - JPMorgan

Jon Stanton

Good morning, everyone, and welcome to Weir's full year results presentation, which is taking place in what is the group's 150th year. Weir was started in 1871 by 2 brothers, James and George, both engineers, who are passionate about using innovative engineering to solve the big challenges of the day. A century and a half later, the challenges are very different, but the same focus is right at the heart of our strategy as you'll hear throughout this presentation. This morning, we'll look at how the business continues to protect its people, customers and communities.

We'll reflect on the resilience of the group's financial performance and the benefits of our transformation into a mining technology pure play. And we'll set out our new medium-term performance goals, including how we'll grow ahead of our markets, expand our margins further and deliver on our sustainability ambitions, all within the disciplined framework of our refreshed capital allocation policy. As usual, I'm joined by our CFO, John Heasley. And after my opening remarks, John will take you through the financial review in detail. I'll then return with the business review and more on our new performance goals before we open up for questions. But first, let me start with safety and the COVID-19 pandemic.

As you know, at Weir, we believe safety is the first priority and the primary indicator of organizational effectiveness, and we're on a mission to become a zero-harm workplace. COVID presented a new set of challenges but, as our teams always do, they responded magnificently. We rapidly adapted

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