118
Financial statements
OCU Group | Annual report and financial statements 2025
Strategic report
Governance
for the year ended 30 April 2025 Notes to the consolidated financial statements
7. Operating profit The operating profit is stated after charging/(crediting):
Exceptional items
2025 £000
2024 £000
2025 £000
2024 £000
1,356 4,904 6,260
Acquisition and transactional-related costs
899
Restructuring
2,554
78,649
Hire of plant and machinery
45,879
Exceptional items included in operating profit
3,453
11,293
Depreciation – owned assets
4,826
22,502
Exceptional finance costs
—
2,191
Depreciation – assets on finance leases
2,814
Total exceptional items 3,453 Acquisition and transactional-related costs of £1.4m (2024: £0.9m) relate to professional fees associated with aborted deals and other acquisition-related costs which do not qualify for capital treatment. 28,762 Restructuring costs of £4.9m (2024: £2.6m) were incurred as part of re-aligning people to the existing Group structure, systems implementation and other one-off costs. Exceptional finance costs of £22.5m (2024: £nil) relate to the settlement and write off of fees associated with the previous borrowing facilities.
64,508
Amortisation
42,317
(1,378)
Profit on disposal of fixed assets
(355)
4,002
Operating lease charges
4,204
Reconciliation of adjusted EBITDA 1 to loss before tax
2025 £000
2024 £000
110,960
Adjusted EBITDA 1
65,682
(13,484)
Depreciation of property, plant and equipment
(7,640)
8. Auditor’s remuneration
1,378
Profit on disposal of fixed assets
355
2025 £000
2024 £000
Adjusted operating profit
98,854
58,397
Fees payable to the Group's and Company's auditor and their associates for the audit of the Group's and Company's financial statements
(64,508)
Amortisation of intangible assets
(42,317)
(6,260)
Exceptional items
(3,453)
610
440
Operating profit
28,086
12,627
30
Auditor’s remuneration for non-audit work
4
(69,203) (22,502)
Net finance costs
(43,546)
Total fees payable
640
444
Exceptional finance costs
—
Loss before tax (30,919) 1. Adjusted EBITDA: The Group calculates adjusted EBITDA as operating profit before interest, tax, depreciation, (63,619) amortisation and excludes exceptional items. The Directors believe that adjusted EBITDA is the most appropriate approach for ascertaining the underlying trading performance and trends as it reflects the measures used internally by senior management for all discussions of performance.
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