Fih Group Plc · LSE:FIH

Fih — FY2019 Earnings Presentation

27 slides from Fih's earnings presentation, June 2019

  1. Slide 1: Full Year Results: Year ended 31 March 2019

    Full Year Results: Year ended 31 March 2019 Chairman: Robin Williams Chief Executive : John Foster

  2. Slide 2: Results Overview: Year ended 31 March 2019

    Results Overview : Year ended 31 March 2019  Underlying pre tax profits £3.9m (2018: £3.2m) + 19%  FIC: Profits up 12% to £1.50m (2018 : £1.34m) - medium term prospects encouraging.  Momart: Continued strong growth – PBT up 51% to £1.57m (2018 £1.04m) – helped by non-recurring £0.2m release of pr

  3. Slide 3: FIH March 2019 Results: Trading Overview

    FIH March 2019 Results : Trading Overview  FIC: Further growth in Retail profitability & Agency income more than offset temporary slow down in kit home house sales. Construction team redirected to expand rental portfolio.  Momart: Strong profit growth due to richer sales mix. PBT £1.6m vs £1.0m fl

  4. Slide 4: Trading Overview: Year 2019

    Trading Overview : Year ended 31 March 2019 FIH group plc 2019 2018 Change £’000 £’000 % Group Revenue 42,528 43,830 -3.0 Operating profit 4,377 3,633 20.5 Group share of SAtCO JV - 18 -100.0 Trading Profit / PBIT 4,377 3,651 19.9 FIC Pension scheme financing costs (72) (73) -1.4 Pontoon lease inter

  5. Slide 5: Split by Business: Year 2019

    Split by Business : Year ended 31 March 2019 FIH group plc 2019 2018 Change £’000 £’000 % Revenue FIC 17,554 18,259 -3.9 PHFC 4,367 4,349 0.4 Momart 20,607 21,222 -2.9 Total Revenue 42,528 43,830 -3.0 Underlying Pre-tax profit FIC 1,505 1,338 12.5 PHFC 784 860 -8.8 Momart 1,569 1,037 51.3 Underlying

  6. Slide 6: Falkland Islands Company (FIC)

    Falkland Islands Company (FIC) 6

  7. Slide 7: FIC: Trading overview

    FIC : Trading overview Year ended 31 March 2019 2018 Change £ million £ million % Revenue Retail 9.72 9.19 5.7 Falklands 4x4 3.05 2.92 4.5 FBS (construction) 1.53 2.95 -47.5 Freight & Port services 0.78 0.94 -17.1 Support Services 2.00 1.78 12.4 Property Rental 0.47 0.48 -0.4 Total FIC revenue 17.55

  8. Slide 8: FIC Overview: Year ended 31 March 2019

    FIC Overview : Year ended 31 March 2019  Revenue lower by 4% at £17.6m (2017: £18.2m) but PBT ahead by 12% at £1.5m.  Retail - Overall sales +5.7% against strong comparatives. Margins improved with richer sales mix.  West Store sales + 4.2%. Strong core supermarket sales offsetting lower activity

  9. Slide 9: FIC – New rental properties under construction

    FIC – New rental properties under construction 9

  10. Slide 10: FIC Overview continued: Year ended 31 March 2019

    FIC Overview continued: Year ended 31 March 2019  3rd party freight & Port Services – down 17% due to delays / gaps in MoD supply vessel arrivals – largely timing differences.  Support Services - Revenues + 12.4% to £2.0m.  Fishing Agency – stronger illex squid catch in April / May 2018.  Pengui

  11. Slide 11: FIC New Agency Launch Delivered

    FIC New Agency Launch Delivered November 2018 11

  12. Slide 12: FIC: Outlook June 2019

    FIC : Outlook June 2019  Core business stable. Ongoing investment to stay ahead of local competition.  Property rental portfolio being expanded over next 12 months from 50 to 70 units.  Record kit home order book for FBS. Further government and MoD tenders expected for new homes with Sale & Lease

  13. Slide 13: Momart: Fine art storage facilities, Leyton East London

    Momart : Fine art storage facilities, Leyton East London 13

  14. Slide 14: Momart: Year ended 31 March 2019

    Momart : Year ended 31 March 2019  Overall revenue lower by 2.9% at £20.6m (2018: £21.2m)  Exhibition / Museum revenue down 6.5% with fewer blockbuster UK shows. More focus on outgoing loans with less outsourcing and increased utilisation of Momart in-house services. Revenue £11.0m (2018 £11.8m) -

  15. Slide 15: Momart: Trading Summary

    Momart : Trading Summary Revenue 2019 2018 Change £ 000’s £ 000’s % Museums & Public Exhibitions 11,003 11,770 -6.5 Gallery Services 7,539 7,249 4.0 Storage 2,065 2,203 -6.3 Total Revenue 20,607 21,222 -2.9 Operating Profit 1,730 1,071 61.5 HP & Bank Interest (161) (34) 373.5 Pre Tax Profit 1,569 1,

  16. Slide 16: Momart: Leyton Units now 81% full – 19k sq ft to let

    Momart : Leyton Units now 81% full – 19k sq ft to let 16

  17. Slide 17: Gosport Ferry (PHFC)

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  18. Slide 18: Gosport Ferry (PHFC) – Trading P&L

    Gosport Ferry (PHFC) – Trading P&L Revenues 2019 2018 Change £ million £ million % Ferry fares 4.15 4.14 0.3 Other revenue 0.22 0.21 2.4 Total Revenue 4.37 4.35 0.4 Operating Profit 1.08 1.18 -8.1 Interest received 0.01 0.01 9.1 Boat mortgage loan interest (0.08) (0.10) -16.8 Pontoon lease finance -

  19. Slide 19: Gosport Ferry: Year ended 31 March 2019

    Gosport Ferry : Year ended 31 March 2019  Ferry revenues ahead by 0.4% at £4.37m (2018: £4.35m).  Fare rises averaging 3% in June 2018.  Adult Return fares £3.60 (June 2017: £3.50) ( £3.70 from June 2019).  10 Trip tickets from £1.60 per adult trip (2017-18: £1.55) (£1.65 from June 2019).  Prom

  20. Slide 20: Gosport Ferry (PHFC)

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  21. Slide 21: FIH: Strategy

    FIH : Strategy Group:  Focus on maximising opportunities from existing group operations. FIC:  Invest in and maintain strength of core business.  Expand rental portfolio and construction arm.  Utilise established partnerships to bid for government infrastructure and oil related projects.  Expan

  22. Slide 22: Outlook - June 2019

    Outlook - June 2019  FIC:  Record FBS order book and increase in FIC rental portfolio will provide boost in FY 2019-20.  More limited illex squid catch April / May 2019 but no serious impact.  Tenders from Premier Oil for Sea Lion on-shore services expected in H2 2019.  Premier seeking UK govt

  23. Slide 23: Appendices

    Appendices Cash Flow, Balance Sheet, Net Borrowings & Liquidity.

  24. Slide 24: Cash flow - for the year ended 31 March 2019

    Cash flow - for the year ended 31 March Cash Flow 2019 2018 £’000 £’000 Operating profit 4,377 3,633 Depreciation and amortisation 1,437 1,692 Provision for share based payments 69 37 Takeover costs paid - (165) Tax paid (560) (475) Increase in working capital (2,553) (573) Fall in HP debtors & cash

  25. Slide 25: Balance sheet

    Balance sheet All figs £ ‘000’s 31 March 31 2019 March 2018 Tangible Fixed Assets 38,664 18,845 Investment properties at net book value 5,239 4,045 Goodwill & Intangibles 11,766 11,832 Deferred tax asset & HP due after 1 year 1,652 1,608 Total non current assets 57,321 36,330 Working Capital - Net 4

  26. Slide 26: Borrowings, Cash & Liquidity

    Borrowings, Cash & Liquidity 31-Mar 31-Mar All figs £ ‘000’s 2019 2018 Bank Loans* (12,814) (3,329) HP on Momart Trucks (248) (173) Total borrowings & HP (13,062) (3,502) Net (debt) / cash 6,184 17,018 Net (debt) / cash excl 50 year (6,878) 13,516 Pontoon lease Long term Pontoon Finance Lease (4,731

  27. Slide 27: FIH group plc

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FIH group — FY2019 Earnings Presentation on 6ix