Business
Johnson Matthey half year results 30th Sept 2021
Johnson Matthey half year results 30th Sept 2021.
About this update from Johnson Matthey Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3398T\n Johnson Matthey PLC\n 24 November 2021\n \n \n \n \n Half year results for the six months ended\n30th September 2021 \n \n \n 24th November 2021\n \n \n \n \n \n \n \n \n Resilient performance in the first half\n \n \n \n \n \n \n \n \n \n \n \n Underlying performance¹,²\n \n \n \n \n \n \n · \n \n \n \n \n Sales of £1.9 billion, up 21%, driven by a strong recovery in Clean Air and Efficient Natural Resources\n \n \n \n \n \n \n · \n \n \n \n \n Underlying operating profit of £293 million, up 102% and ahead of pre-pandemic levels, driven by strong sales growth and higher average precious metal prices\n \n \n \n \n \n \n · \n \n \n \n \n Underlying EPS of 114.8 pence, up materially reflecting higher underlying operating profit and lower net finance costs\n \n \n \n \n \n \n · \n \n \n \n \n Free cash flow of £189 million, benefiting from continued strong management of working capital (1H 2020/21: £256 million)\n \n \n \n \n \n \n · \n \n \n \n \n Strong balance sheet with net debt of c.£700 million as lower auto demand benefited working capital; net debt to EBITDA of 0.9 times\n \n \n \n \n \n \n · \n \n \n \n \n Return on invested capital (ROIC) of 17.7%, up from 10.4% in the prior year driven by higher underlying operating profit\n \n \n \n \n \n \n \n \n \n \n \n Reported results \n \n \n \n \n \n \n · \n \n \n \n \n Revenue increased 23% primarily driven by higher average precious metal prices\n \n \n \n \n \n \n · \n \n \n \n \n Following \n the announcement of our intention to exit Battery Materials, the assets have been impaired by £314 million\n \n \n \n \n \n \n · \n \n \n \n \n Operating profit of £20 million, reflecting the one-off impairment in Battery Materials\n \n \n \n \n \n \n · \n \n \n \n \n Loss before tax of £9 million, driven by lower operating profit\n \n \n \n \n \n \n · \n \n \n \n \n Reported loss per share of 14.8 pence\n \n \n \n \n \n \n · \n \n \n \n \n Cash inflow from operating activities of £412 million (1H 2020/21: £482 million)\n \n \n \n \n \n \n · \n \n \n \n \n Interim dividend of 22.0 pence per share, up 10% \n \n \n \n \n \n \n · \n \n \n \n \n Share buyback of £200 million, beginning in the New Year\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Reported results\n \n \n \n \n \n \n \n Underlying res...