Slide 1: Investor Presentation – Interim results
Investor Presentation Interim results Date: 30 June 2020
Slide 2: Introductions
Introductions Helene Roberts – CEO Helene has extensive knowledge of sustainable materials technology, global sales, marketing and innovation and people leadership. She has a degree in Materials Engineering and a PhD in Polymer Engineering. Helene’s career started with M&S, initially as a materials
Slide 3: Overview
Overview Who are we? Vision and strategy • Custom manufacturer of rigid plastic and paperboard • Aim to generate sales in excess of £50 million by 2024 packaging • Target operating profit 6-8%* • Manufacturing plants in UK and Poland (split ~50:50) • This will be achieved through a combination of or
Slide 4: 2020 Interim - Financial highlights
2020 Interim - Financial highlights Operating Revenue Gross margin profit* up 5% up to 23.6% to £17.9m up 100% to £1.6m (2019 H1: £17.1m) (2019 H1: 19.7%) (2019 H1: £0.8m) Profit before Net debt Interim tax down to dividends up to £1.1m £5.6m total 5.5p (2019 H1: £0.3m) (31 December 2019: £6.9m) (20
Slide 5: 2020 Interim - Operational highlights
2020 Interim - Operational highlights Safety All sites have continued to trade safely throughout the period New Successfully installed 6 new production lines in the UK to increase equipment the efficiency and capacity of the operation Capacity Refurbishment of a manufacturing building in Kirkby-in-A
Slide 6: Business strategy
Results and Shared Success Through Recognition Transformational Leadership \ Sustainability (2) Manufacturing / Logistics and Pledge and ) Engineering Roadmap Innovation Key environmental and ff Driving continuous social initiatives that improvement in underpin all that we our operations and doin th
Slide 7: Pension Fund
Pension Fund Defined benefit pension plan • Closed to new entrants in 1997 • Assets £66m at end of 2019 • IAS 19 surplus of £10.5m (at 31 Dec 2019) • Escrow account has £3.1m - £2.7m loaned to Company • Intention to buy-out when market conditions allow • Triennial actuarial valuation due as at 5 Apr
Slide 8: Surplus Property – Increase cash reserves for reinvestment
Surplus Property – Increase cash reserves for reinvestment Surplus properties Book value £4m (valued end of 2008) - estimated market value £10m+ Current gross rental income £0.4m per annum Development sites Walton Works (8 acres) advanced discussions with interested party progress expected this year
Slide 9: Outlook
Outlook Market Expect continued headwinds in the market, relating to COVID-19, headwinds Brexit & economic recession Uncertainty Uncertainty around our future growth rate until we see how our creates customers respond – with uncertainty comes opportunity, we are opportunity determined to maximise on
Slide 10: Appendix – Income Statement
Appendix – Income Statement Six months Six months Year to £'000 to 30.06.20 to 30.06.19 31.12.19 Revenue 17,860 17,085 35,085 Cost of sales (13,648) (13,721) (27,593) Gross profit 4,212 3,364 7,492 Operating costs (2,633) (2,576) (4,971) Operating profit before amortisation of intangible assets 1,57
Slide 11: Appendix – Balance sheet
Appendix – Balance sheet £'000 30.06.20 30.06.19 31.12.19 Non-current assets Goodwill 1,175 1,215 1,144 Other intangible assets 3,301 4,261 3,616 Property, plant and equipment 19,893 19,222 18,338 Deferred tax asset 1,001 895 937 25,370 25,593 24,035 Current assets Inventories 3,287 3,485 2,765 Trad
Slide 12: Appendix – Cash Flow
Appendix – Cash Flow Six months Six months Year to £'000 to 30.06.20 to 30.06.19 31.12.19 Operating cash flow 2,646 1,790 4,644 Corporation tax paid (285) (95) (127) Interest paid (63) (104) (205) Working capital movement 1,429 (353) 207 Cash generated by operating activities 3,727 1,238 4,519 Net c
Slide 13: Appendix – Significant Shareholders
Appendix – Significant Shareholders Shareholder Total shares % held C W G Robinson 1,212,601 7.3% S J Robinson 708,385 4.3% R B Hartley 654,191 3.9% R A Shemwell 598,791 3.6% S C Shemwell 534,091 3.2% S E A Hardy 525,191 3.2% H G Shaw 515,191 3.1% • ~70% historical family shareholdings (c. 120) • Di
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