Slide 1: Full Year Results: Year Ended 31 March 2022
Full Year Results: Year Ended 31 March 2022 Chief Executive : Stuart Munro
Slide 2: Trading Overview
Trading Overview 2022 2021 Change FIH group plc £’m £’m £’m Turnover 40.3 32.6 7.7 Underlying operating profit 3.1 1.0 2.1 Interest payable on bank loans (0.4) (0.5) 0.1 Lease finance & pensions charges (0.4) (0.4) - Financing costs (0.8) (0.9) 0.1 Underlying profit before tax 2.3 0.1 2.2 Restructur
Slide 3: Group Highlights
Group Highlights • Revenue increased by 24% to £40.3m (2021: £32.6m). • Underlying pre-tax profit of £2.3m (2021: £0.1m) despite government support reducing to £0.5m (2021: £1.8m). • Profit underpinned by net cash flow from operating activities of £5.1m. • Consistent performance in FIC despite secon
Slide 4: Split by Business
Split by Business: 2022 2021 Change FIH group plc £’m £’m £’m FIC 21.6 20.9 0.7 PHFC 3.1 1.4 1.7 Momart 15.6 10.3 5.3 Turnover 40.3 32.6 7.7 FIC 1.8 1.8 - PHFC (0.1) (1.2) 1.1 Momart 0.6 (0.5) 1.1 Underlying profit before tax 2.3 0.1 2.2 Restructuring costs (0.3) 0.1 (0.4) Profit before tax 2.0 0.2
Slide 5: Falkland Islands Company (FIC)
Falkland Islands Company (FIC) 5
Slide 6: FIC Trading Overview
FIC Trading Overview 2022 2021 Change FIC £’m £’m £’m Retail 9.7 9.7 - Falklands 4x4 2.8 2.8 - FBS (housing and construction) 5.8 5.3 0.5 Support services 2.5 2.3 0.2 Property rental 0.8 0.8 - Total revenue 21.6 20.9 0.7 Underlying operating profit 1.9 1.9 - Defined benefit pension - finance expense
Slide 7: FIC Trading Overview
FIC Trading Overview • Total revenue of £21.6m (2021: £20.9m) up 3.3%. • FBS revenue up £0.5m driven by road and drainage works for FIG. • Support Services revenue up £0.2m due mainly to increased shipping agency work following vessels being allowed back into Stanley Harbour. • Retail sales of £9.7m
Slide 8: Momart
Moved by Art
Slide 9: Momart: Trading Overview
Momart : Trading Overview 2022 2021 Change Momart £’m £’m £’m Museum Exhibitions 7.4 4.5 2.9 Gallery Services 5.8 3.4 2.4 Storage 2.4 2.4 - Total revenue 15.6 10.3 5.3 Underlying operating profit 1.0 - 1.0 Finance expense (0.4) (0.5) 0.1 Underlying profit / (loss) before tax 0.6 (0.5) 1.1 9
Slide 10: Momart Trading Overview
Momart Trading Overview • Revenue of £15.6m increased by 52% on prior year. • Significant improvements in Museum Exhibitions and Gallery Services. • Consistent level of storage income and healthy utilisation of space. • Lifting of Covid restrictions improved activity levels by allowing: • Planning o
Slide 11: Gosport Ferry
, ) Gosport Ferry Photgraph by Stefan Vintner
Slide 12: Gosport Ferry: Trading Overview
Gosport Ferry : Trading Overview 2022 2021 Change Gosport Ferry £’m £’m £’m Total revenue 3.1 1.4 1.7 Underlying operating profit / (loss) 0.2 (0.9) 1.1 Finance expense (0.3) (0.3) - Underlying loss before tax (0.1) (1.2) 1.1 12
Slide 13: Gosport Ferry Trading Overview
Gosport Ferry Trading Overview • 99.9% service reliability maintained. • Passenger numbers more than doubled to 1.7m. • Steady growth over the year reaching 80% of pre-pandemic levels over the autumn. • Dipped in December following Government advice to work from home • Back to 76% of pre-pandemic le
Slide 14: Trading Outlook and Strategy
Trading Outlook and Strategy
Slide 15: Trading Outlook
Trading Outlook • Resilient profits at FIC should benefit from: • Expected return of tourists to the Falkland Islands. • Strong order book. • Potential opportunities for further work for the Falkland Islands Government and the MOD. • Further improvement in activity levels in Momart and Gosport Ferry
Slide 16: Strategy
Strategy • Build current businesses back to and beyond pre-COVID position. • Good progress but more to do. • Focus on control of costs and mitigating the impact of inflation. • Invest in developing existing businesses. • Capitalise on Government and MOD work and maximise use of land assets in the Fa
Slide 17: Appendices
Appendices Cash Flow, Balance Sheet, Net Borrowings & Liquidity
Slide 18: Cash flow - for the year ended 31 March
Cash flow - for the year ended 31 March 2022 2021 FIH group plc £’m £’m Underlying profit before tax 2.3 0.1 Depreciation and amortisation 2.4 2.3 Net interest 0.8 0.9 Underlying EBITDA 5.5 3.3 Non-trading, cash items - (0.4) Increase in hire purchase debtors (0.1) - Increase in working capital - 1.
Slide 19: Balance sheet
Balance sheet 2022 2021 FIH group plc £'m £'m Tangible fixed assets 39.1 40.3 Investment properties at net book value 8.2 7.1 Goodwill & intangibles 4.2 4.2 Deferred tax, joint venture & hire purchase >1 year 1.7 1.7 Derivative financial instruments 0.6 - Total non current assets 53.8 53.3 Working c
Slide 20: Borrowings, Cash & Liquidity
Borrowings, Cash & Liquidity 2022 2021 FIH group plc £'m £'m Bank loans due within 1 year (1.0) (2.8) Bank loans due after 1 year (13.2) (17.3) Total bank borrowings * (14.2) (20.1) Cash 9.6 14.6 Net bank borrowings (4.6) (5.5) Lease liabilities due within 1 year ** (0.6) (0.6) Lease liabilities due
Slide 21: FIH group plc
y 3 FIH group plc