Slide 1: Mpac Group plc 2022 Full Year Results
Mpac Group plc 2022 Full Year Results March 2023 Smart thinking, innovative solutions We create packaging and automation ecosystems that enhance manufacturing to help businesses adapt and grow
Slide 2: Introduction and Agenda
Introduction Agenda Mpac Group plc is an international company 04 Overview listed on the London Stock Exchange, with a 07 Strategy and business model long and proud history of delivering innovation 10 Mpac Cube case study and excellence on a global basis. 11 Nestle case packer case study 12 Clean en
Slide 3: Welcome
Welcome. Introduction “Mpac, as a team, once again demonstrated agility to implement mitigations to deliver a second half recovery, faced with increased macro-economic uncertainty and unprecedented volatility in the global supply chain which impacted both the lead time of customers’ order Tony Steel
Slide 4: 2022 full year summary
Financial Highlights Overview 2022 full year summary Order intake > Strong second half recovery £83.8m > Implemented cost saving measures and maximized benefits from common business systems to (2021: £117.9m) mitigate impact of supply chain disruption Revenue £97.7m > Regional Service strategy drivi
Slide 5: Automation Ecosystems
Automation Ecosystems Whole Line WHOLE LINE, WHOLE LIFE, WHOLE PLANET Mpac's offer to customers has been shaped by delivering against these three pillars. The result is ‘Automation Ecosystems’ Using limitless ingenuity to align global manufacturing > Global whole-line integration > Streamlining proc
Slide 6: Who we are and what we do
Who we are and what we do Overview 2022 Sales by Sector (%) Operations and sectors Clean Energy Food and Mpac Group plc is a global engineering and 11% Beverage service provider of full line packaging and £97.7m 47% automation solutions in the essential growth Healthcare (2021:£94.3m) 31% Revenue se
Slide 7: Strategy: Business model
“We channel limitless ingenuity to Strategy: create and optimise whole line manufacturing ecosystems. With Business model many parts, in many countries, our world-class productivity helps our clients achieve more with less.” Consult Early customer engagement and buy-in using Mpac’s extensive know ho
Slide 8: Strategy: Addressable growth markets
Strategy: Addressable growth markets Product category Solutions Market value CAGR Drivers > Personal Health care > Contact Lens / point of use drug Premiumisation Recycling $47.0bn delivery Packaging Machinery > Beverage * 5% > Cereals > Frozen foods > Tissues Increasing income Health Technologies >
Slide 9: Strategy: Goals and priorities 2022 update
Strategy: Goals and priorities 2022 update 2022 progress Looking ahead Products One Mpac Global Innovation New customer relationships Cross selling of Switchback and Key account management and Develop and augment clean Going for developed in EMEA and Americas Langen product ranges product line devel
Slide 10: Strategy Case Study: Tattooed Chef
“In our tireless search for a global automation partner that met our challenging requirements, Strategy Case Study no other premium manufacturer stood out as clearly as Mpac Group.” Tattooed Chef Gaspare Guarrasi Chief Operating Officer Mpac were selected by Tattooed Chef, a leading plant-based food
Slide 11: Strategy: Case study Mpac Academy
“Our people are at the heart of Mpac, and the Mpac Academy ensures the next generation of Strategy: Case study leaders have the skills to succeed.” Tony Steels CEO Mpac Academy Program Overview > Dedicated mentors for each participant > Inspirational speakers > Site visit to Mississauga and UK The M
Slide 12: Strategy: Case study Healthcare customer
“Mpac designs, manufactures and Strategy: Case study supports automation solutions needed to bring life-saving products to market.” Healthcare customer Mpac was selected by a leading Healthcare customer who simplifies and improves diabetes management around the world, as the preferred supplier for m
Slide 13: Sustainability vision
Sustainability vision Our end-to-end capabilities help environmentally focused Helping businesses grow globally while businesses meet their ESG targets and our evolving embracing sustainability innovative solutions offer our customers opportunities to > Next-generation manufacturing built for the fu
Slide 14: Financial review quote on working capital
“Investment in working capital to manage the impact of the supply chain crisis on the Group was successful in securing revised project build timeframes and is expected to largely unwind in the first half of 2023.” Will Wilkins Group FD 14 Mpac Group plc 2022 Full Year Results
Slide 15: Financial review: 2022 full year highlights
Financial review: 2022 full year highlights £83.8m £97.7m 25.0% £3.9m Order intake Revenue Gross profit margin Underlying operating profit -28.9% (2021: £117.9m) +3.6% (2021: £94.3m) -6.6% (2021: 30.6%) -55.6% (2021: £8.8m) £3.5m £0.2m £12.2m 13.3p Underlying profit before tax Statutory profit befor
Slide 16: Financial review: Group income statement
Financial review: Group income statement For the year to 31 December 2022 2022 2021 (£m) (£m) Change Commentary Revenue 97.7 94.3 3.6% > OE revenue growth driven by the EMEA region – mainly from the Clean Energy sector – Original Equipment 74.6 74.1 0.7% – Services 23.1 20.2 14.4% > Service revenue
Slide 17: Financial review: Balance sheet
Financial review: Balance sheet For the year to 31 December 2022 2022 2021 Change (£m) (£m) Commentary Intangible Assets 25.4 25.3 0% > Reduction in tangible fixed assets relates primarily to Tangible fixed assets, including leased items 9.8 10.6 -8% the depreciation charge. There were no material U
Slide 18: Financial review: 2022 full year cash bridge and working capital
Financial review: 2022 full year cash bridge and working capital (£m) For the year to 31 December 2022 Commentary Q4 2021 included significant ramp up in order intake on account project payments, the timing of which have a material impact on reported working capital movements £20m borrowing facility
Slide 19: Outlook
Outlook • Started 2023 in line with expectations • Strong and diverse opening order book provides good coverage over 2023 forecast revenue • Macro economic uncertainty and key component supply chain continue to bring challenges • Strategic initiatives to widen customer base, targeting new key accoun
Slide 20: Appendices
Appendices 20 Mpac Group plc 2022 Full Year Results
Slide 21: Appendices: Income Statement
Appendices: Income Statement > Revenue increase of 3.6% over 2021 2022 2021 £m £m > Non underlying items of £3.9m include: Revenue 97.7 94.3 • Acquisition costs £0.3m Underlying operating profit* 3.9 8.8 • Amortisation £1.6m Non-underlying operating loss (3.9) (0.5) • Pension admin costs £1.4m Opera
Slide 22: Appendices: Segmental information
Appendices: Segmental information £74.6m £23.1m £97.7m Total OE sales Total service sales Total sales +0.7% (2021: £74.1m) +14.4% (2021: £20.2m) +3.6% (2021: £94.3m) +0.7% 20.2 23.1 -16.6% 74.1 9.9 53.4 11.9 +40.4% 74.6 9.7 40.9 9.3 +72.1% 17.4 27.8 1.5 1 5.9 3.3 Americas Americas EMEA EMEA APAC APA
Slide 23: Appendices: Cash flows
Appendices: Cash flows > Cash flows from operating activities in 2022 include: Dec 2022 Dec 2021 £m £m • £17.7m working capital increase Cash flows from operating activities (14.0) 0.4 • £2.1m of pension payments Cash flows from investing activities (3.2) (0.3) • £0.9m of reorganisation & tax paymen
Slide 24: Appendices: Working capital
Appendices: Working capital > Overall change in working capital reflects the significant impact Dec 2022 Dec 2021 £m £m of the global supply chain crisis in 2022, this has led to increased project build times and the prevention of achieving Increase in inventories (3.7) (2.2) contracted billing mile
Slide 25: Appendices: Balance sheet
Appendices: Balance sheet > Goodwill of £13.2m (Lambert £5.7m : Switchback £7.5m) Dec 2022 Dec 2021 £m £m > UK pension scheme surplus remained stable in the face of the Intangible assets 25.4 25.3 exceptional volatility in the year, with the shift in interest and discount rates reducing liabilities
Slide 26: 2022 Pension scheme
2022 Pension scheme UK Pension Scheme – IAS19 surplus (£m) UK Pension Scheme UK scheme 450.0 > Accounting surplus £31.5m (2021: £35.7m) > Scheme surplus remained stable in the face of the exceptional 400.0 volatility in the year, the shift in interest and discount rates reducing 350.0 liabilities by
Slide 27: Our machines are installed in global blue chips including:
Our machines are installed in global blue chips including: 27 Mpac Group plc 2022 Full Year Results
Slide 28: Mpac Group plc contact details
Mpac Group plc Station Estate Station Road Tadcaster North Yorkshire LS24 9SG Tel: +44 (0)2476 421100 Email: ho@mpac-group.com mpac-group.com We create packaging and automation ecosystems that enhance manufacturing to help businesses adapt and grow