Van Elle Holdings Plc · LSE:VANL
Van Elle — H1 FY2023 Earnings Presentation
15 slides from Van Elle's earnings presentation, July 2023
Slide 1: Total Foundation Solutions - Interim Results 31 October 2022
TOTAL FOUNDATION SOLUTIONS. VAN ELLE HOLDINGS PLC INTERIM RESULTS 31 OCTOBER 2022
Slide 2: Presenters: Chief Executive Officer and Chief Financial Officer
Mark cutler| Chief executive Officer Graeme Campbell | Chief Financial Officer 2 VAN ELLE HOLDINGS PLC INTERIM RESULTS 31 OCTOBER 2022
Slide 3: Agenda
Agenda THE RESULTS Overview UK’S LARGEST GEOTECHNICAL Financial review CURRENT TRADING AND outlook ENGINEERING CONTRACTOR 3 VAN ELLE HOLDINGS PLC INTERIM RESULTS 31 OCTOBER 2022
Slide 4: Results Overview
RESULTS Overview • Record half year revenue with operating profit significantly ahead of the prior year • Housing and General Piling divisions delivered significant growth with strong demand experienced across 3 core end markets • Rail revenues continued to increase with delivery under major electri
Slide 5: Group income statement
Group income statement H1 H1 • Record revenues reported with total revenue up 35% on the prior FY2023 FY2022 period £m £m • Strong demand across several end markets resulting in all divisions Revenue 80.8 60.1 operating at high activity levels Gross profit 20.6 17.1 25.5% 28.5% • Raw material and la
Slide 6: General Piling
General Piling H1 H1 FY2023 FY2022 £m £m Revenue 29.3 18.1 Operating profit 2.3 0.9 • Infrastructure and general construction markets have shown good growth resulting in high activity levels • The division secured and delivered several major projects in the period using the Group’s rotary, CFA, prec
Slide 7: Specialist Piling & Rail
Specialist Piling & Rail H1 H1 FY2023 FY2022 £m £m Revenue 24.8 22.1 Operating profit 1.1 1.6 • Growth in revenues as a result of expansion of operational capacity with new rigs and additional site teams • Appointment to the piling framework for the TransPennine Route Upgrade (TRU) programme with wo
Slide 8: Ground Engineering Services
Ground Engineering Services H1 H1 FY2023 FY2022 £m £m Revenue 26.6 19.8 Operating profit 2.5 1.2 • Strong demand in the housebuilding market with the Housing division operating at capacity throughout the period • Geographical expansion with a greater number of contracts won and delivered in the Sout
Slide 9: Balance Sheet
Balance SHEET 31 Oct 30 Apr 31 Oct • Increasing fixed assets with investments in rigs to 2022 2022 2021 support growth areas £m £m £m • Working capital increase due to higher activity Fixed assets (including intangible assets) 44.7 43.4 42.8 levels Net working capital 12.4 8.1 9.3 • Net funds exclud
Slide 10: Net Funds
NET FUNDS 31 OCT 30 APR 31 OCT 2022 2022 2021 • £3.0m of the asset backed lending facility £m £m £m drawn to support working capital growth and Bank loans - - (0.2) capital investment Asset backed lending facility (3.0) - - • £1.5m of additional hire purchase finance HP lease liabilities (1.9) (1.1)
Slide 11: Cash flow
Cash flow Higher activity levels requiring investment in Asset backed working capital lending facility and new hire purchase financing to support working capital growth Investment in rig and capital fleet to expand investment Reinstatement of capacity in dividend. 1p per growth areas share paid in O
Slide 12: Current Trading and Outlook
Current Trading and Outlook • Trading continues in H2 in line with management expectations • Core markets continue to have a positive outlook despite current macro economic impacts • Notwithstanding timing uncertainties, growth in the highways, rail and power sectors is expected to more than compens
Slide 13: Statistics
Statistics H1 2023 H1 2022 FY 2022 Financial measures Revenue (£m) 80.8 60.1 124.9 Gross profit % 25.5% 28.5% 27.3% Overheads % (underlying) 21.2% 24.9% 24.1% Capital expenditure (£’m) 3.5 2.0 4.9 Order book (£’m) 49.0 34.5 39.0 Operational measures Number of rigs 124 118 122 Average rig utilisation
Slide 14: Q&A
Q&A 14 VAN ELLE HOLDINGS PLC INTERIM RESULTS 31 OCTOBER 2022
Slide 15: Disclaimer
Disclaimer This presentation has been prepared by or on behalf of Van Elle Holdings plc (“Van Elle”). The information set out in this presentation is By attending the presentation to which this document relates and/or by accepting this document you will be taken to have represented, not intended to