Chesterfield Special Cylinders Holdings Plc · LSE:CSC
Chesterfield Special Cylinders — Pressure Technologies — H1 FY2024 Earnings Presentation
23 slides from Chesterfield Special Cylinders's earnings presentation, Jun 25, 2024
Slide 1: Investor Presentation FY24 Interim Results
Investor Presentation FY24 Interim Results Chris Walters, Chief Executive Steve Hammell, CFO 25 June ‘24 1
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Pressure Technologies plc (the “Company“ or “Pressure Technologies”) solely in connection with providing information on the Company and to certain institutional and professional investors in the United Kingdom. This presentation does not constitute o
Slide 3: Agenda
Agenda • Group Highlights • Group Financial Results • CSC Division - Highlights • PMC Division - Highlights • Shareholder Value Focus • Outlook • Contact Us • About Us 3
Slide 4: Group Highlights
Group Highlights • Resilient market conditions during the first half of FY24 with new defence contract placements and continued growth in the oil and gas market against the backdrop of more stable economic conditions • Group revenue in H1 FY24 of £15.0 million (2023: £13.8 million) up 9% • Gross pro
Slide 5: Group Financial Results - Profit & Loss
Group Financial Results - Profit & Loss H1 FY24 H1 FY23 FY 23 £m £m £m Revenue 15.0 13.8 32.0 Chesterfield Special Cylinders 6.5 8.9 20.7 Precision Machined Components 8.5 4.9 11.3 Gross profit 3.2 3.7 8.9 Adjusted operating (loss)/profit (0.7) (0.5) 0.5 Chesterfield Special Cylinders (0.2) 0.8 3.1
Slide 6: Group Financial Results - Balance Sheet & Net Debt
Group Financial Results - Balance Sheet & Net Debt • Loss after Tax in H1 FY24 of £1.2m after H1 24 FY23 H1 23 Depreciation (£0.8m), Exceptionals (£0.2m) £m £m £m and Interest Charges (£0.2m) Intangible Assets - - - • Net Debt increased from £2.4m to £3.3m due Tangible fixed assets 9.7 9.5 10.1 to E
Slide 7: CSC Division - Highlights (1 of 2)
CSC Division - Highlights (1 of 2) • CSC revenue in H1 FY24 of £6.5 million (2023: £8.8 million) down 26%, a disappointing performance • Driven by operational factors including a major machinery breakdown in October 2023 that was remedied in December 2023 • Defence revenue of £5.5 million (2023: £7.
Slide 8: CSC Division - Highlights (2 of 2)
CSC Division - Highlights (2 of 2) • CSC order intake of £10.3 million in H1 FY24 (2023: £20.9 million, including major UK naval order of £18.2 million) • Current order book of £13.6 million at May 2024 (May 2023: £18.4 million), providing strong revenue cover for the remainder of FY24 • Operational
Slide 9: PMC Division - Highlights
PMC Division - Highlights • We have seen improved conditions in the oil and gas market and much improved operational performance from the division • PMC revenue in H1 FY24 of £8.5 million (2023: £4.9 million) up 73% supporting Adjusted EBITDA of £0.8 million (2023: £0.2 million) • PMC order intake i
Slide 10: Shareholder Value Focus
Shareholder Value Focus • Focused on delivery of shareholder value against the backdrop of improving market conditions • Well positioned as a trusted, world-leading manufacturer serving growing, safety-critical markets • Improving operational performance in capacity and efficiency • Prioritising the
Slide 11: CSC - Long-term opportunities in UK & global defence markets
CSC - Long-term opportunities in UK & global defence markets 2022 2050 • New build revenue U.K. opportunity of £100m- 2022 2030 £150m over next 15 years France 2022 2042 U.K. • Major programmes include: 2022 Columbia 2042 U.S. • AUKUS £32m 2028 SSNAUKUS 2048 • France £24m AUKUS • US £19m 2026 Triomp
Slide 12: CSC - Increasingly exciting outlook for hydrogen
CSC - Increasingly exciting outlook for hydrogen UK & EUROPEAN MOBILITY PROJECTS (BUS, MEDIUM/HEAVY DUTY TRUCK, LOGISTICS, TRAIN) • Hydrogen refuelling station (HRS) manufacturers are increasing output to meet growing demand for mobility projects in the UK, Europe, Australia and Americas. 2025 2030
Slide 13: Outlook
Outlook • During FY24, CSC expects to pass the peak of activity on current high-value defence contract milestones and will seek to re-balance its revenue profile across global defence programmes and the hydrogen energy market, with each of these markets presenting significant opportunities over the
Slide 14: Contact Us
Contact Us Pressure Technologies plc | LinkedIn 0333 015 0710 www.pressuretechnologies.com PressureTechnologies@houston.co.uk 14
Slide 15: About Us
About Us AL Pressure | “4T Technologies
Slide 16: Our Company Values
Our Company Values We put We innovate & We work We deliver to the people first create the future together highest standard 16
Slide 17: Introduction to Pressure Technologies
Introduction to Pressure Technologies Our Purpose Our Vision Our Purpose is to advance safety Our Vision is to build a Company and reliability in demanding that is globally recognised within its markets as the leading environments through technology, provider of pressure containment high quality eng
Slide 18: Our Group
Our Group We are leaders in the design and manufacture of safety-critical components and systems serving global supply chains in defence, oil and gas, industrial and hydrogen energy markets [\\\\ chesterfieta Precision Machined Components (PMC) Martract Roota (0 l-met + Established in 1897 + Safety-
Slide 19: Chesterfield Special Cylinders
Chesterfield Special Cylinders 19
Slide 20: What makes us unique?
What makes us unique? 125 years in Trusted by One stop shop the making our customers We design, manufacture and maintain world-leading Decades of design, manufacturing Very strong presence in the bespoke pressure gas and supply to worldwide markets hyrdrogen market in Europe containment solutions an
Slide 21: PT Group revenue 2021 £25.3M
1.Chesterfield Special Cylinders and Pressure Technologies Head Office Employees 125 Property Meadowhall Road, Sheffield Specialisms High pressure gas containment cylinders and in-situ inspection and 2. Roota Engineering recertification PT Group Employees 36 revenue 2021 Property Specialisms Rotherh
Slide 22: Fuelling hydrogen storage for over 80 years
Fuelling hydrogen storage for over 80 years Engaged with the world’s leading hydrogen Proven track ● sector players record for the ● Provided Type 1 pressure vessels for many HRSs, cylinders/tubes for commercial vehicles, delivery of trains and small marine vessels many hydrogen ● In excess of 20 pr
Slide 23: Our ground & transportable end-end H2 gas storage solutions
Our ground & transportable end-end H2 gas storage solutions 23
Pressure Technologies — H1 FY2024 Earnings Presentation on 6ix