Phoenix Group Holdings plc (OTCPK:PNXGF) Q4 2024 Earnings Conference Call March 17, 2025 5:30 AM ET
Company Participants
Andrew Briggs – Group Chief Executive Officer & Director
Nic Nicandrou – Group Chief Financial Officer
Conference Call Participants
Abid Hussain – Panmure Gordon
Andrew Sinclair – Bank of America
Dominic O’Mahony – BNP Paribas Exane
Thomas Bateman – Mediobanca
Farooq Hanif – JPMorgan
Michael Huttner – Berenberg
Andrew Crean – Autonomous
Larissa Van Deventer – Barclays
Mandeep Jagpal – RBC Capital Markets
Andrew Baker – Goldman Sachs
Steven Haywood – HSBC
Andrew Briggs
Thank you, Claire and good morning, everyone and welcome. Thank you for those who joined in the room and also to those who’ve joined us on the webcam. It gives me great pleasure to be sharing Phoenix Group’s 2024 full year results with you today. I’m joined on stage by Nic Nicandrou. Nic Nicandrou, our new Group CFO, who started back in December. Like myself, Nic has worked in the industry for over 30 years and I’m delighted to have a CFO of his caliber working alongside me.
Looking at today’s agenda, I’ll start with a summary of the progress we’ve made one year into the 3-year strategy we announced last March. I’ll hand over to Nic to take you through the 2024 financial performance and then I will close with an overview of our priorities across 2025 and 2026.
2024 has been a year of strong financial performance. This performance along with our increasing confidence has driven an upgrade to a number of the targets we set back in March across our financial framework of cash, capital and earnings. From a cash perspective, we’ve outperformed in our key metric operating cash generation or OCG and achieved our 2026 target of £1.4 billion two years early and supporting total cash generation of £1.8 billion. This
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