Christie Group plc · LSE:CTG
Christie — H1 2022 Earnings Presentation
28 slides from Christie's earnings presentation, 2022
Slide 1: Interim Results Presentation
Interim Results Presentation For Six Months Ended 30th June 2022 David Rugg Dan Prickett Simon Hawkins Chairman & Chief Executive Chief Operating Officer Group Finance Director 1
Slide 2: Disclaimer
Disclaimer The information in this document is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. It is the responsibility of any person publishing or communicating the contents
Slide 3: 2022 First Half Headlines
2022 First Half Headlines David Rugg Chairman & Chief Executive 3
Slide 4: 2022 First Half Headlines
2022 First Half Headlines Pleasing 1st half performance with profitability increasing by 26% to £2.3m. Strong PFS performance with robust demand across all sectors • Revenues up by £5.1m (18%) to £33.7m (H1 2021: £28.6m) • Operating profit increased by 26% to £2.3m (H1 2021: £1.8m) • Strong PFS perf
Slide 5: An Introduction to Christie Group
An Introduction to Christie Group David Rugg Chairman and Chief Executive 5
Slide 6: About Us
About Us A leader in the provision of professional and financial services to the hospitality, leisure, healthcare, medical, childcare and education and retail sectors • Christie Group offers an extensive portfolio of professional services for the hospitality, leisure, healthcare, medical, childcare
Slide 7: Our Businesses
Our Businesses Complementary specialist services classified into two divisions 7 2022 Interim Results Presentation
Slide 8: Our Services
Our Services Providing joined-up solutions throughout the client life cycle The Christie Group has been able to Investment advice distinguish itself and gain market share by developing a range of demand services for our clients. The range of services provided by our businesses are designed to provid
Slide 9: Our Areas of Expertise
Our Areas of Expertise We focus on a section of areas covering a wide range of property-based businesses in Hospitality, Leisure, Healthcare, Retail, Medical and Childcare & Education sectors Childcare & Hotels Public Houses Restaurants Leisure Healthcare Retail Medical Education Investment advice •
Slide 10: Group Strategy
Group Strategy We aim to be the recognised knowledge leader and pre-eminent advisor in our sectors • We partner with our clients throughout their business life cycle to optimise and enhance value • We exist to help our clients buy, operate, develop and sell their businesses • We do this through supp
Slide 11: Business Review
Business Review Dan Prickett Chief Operating Officer 11
Slide 12: Professional & Financial Services
Professional & Financial Services Resurgent agency and advisory activity of 2021 has been consolidated in an encouraging first-half performance • C&Co have enjoyed another vibrant period of transactional activity • That activity has, again, been prevalent across a number of sectors • Particularly st
Slide 13: Professional & Financial Services
Professional & Financial Services Positive H1 for our financial services operations as lending appetite and demand remain robust • Good growth in commercial mortgage lending in H1 v 2021 • Strengthened corporate debt advisory team in Care • Success of Christie & Co’s 2020 sectorisation has been refl
Slide 14: Professional & Financial Services
Professional & Financial Services Buoyant demand for Pinders allied with further improvements in efficiency • Strong growth in appraisal income compared to H1 2021 • That demand combined with quality of service and reputation has allowed for even stronger increase in average fee levels • First half
Slide 15: Stock & Inventory Systems & Services
Stock & Inventory Systems & Services Post-pandemic recovery of our hospitality stocktaking business has gathered momentum after challenging start to year • Profitable H2 2021 was followed by impact of Omicron variant which created disruption that flowed into a subdued Q1 performance • As those restr
Slide 16: Stock & Inventory Systems & Services
Stock & Inventory Systems & Services 3 out of 5 operations now trading profitably within Orridge • UK Retail H1 stocktaking revenues up 13% year on year with further revenue growth the key objective • Trials with a number of prospective clients have been undertaken in the first half • Margins and se
Slide 17: Stock & Inventory Systems & Services
Stock & Inventory Systems & Services SaaS business Vennersys continues to progress • After spike in % of online ticket sales during Covid, we are now seeing consumers return to purchasing on-the-day at attractions, but with an expected permanence to increased online purchasing • Revenues will contin
Slide 18: Financial Review
Financial Review Simon Hawkins Group Finance Director 18
Slide 19: Revenue
Revenue Half year revenue increased by 18% (£5.1m) to £33.7m (H1 2021: £28.6m) 2022 H1 2021 H1 Movement £'000 £'000 £'000 % Professional & Financial Services (PFS) 22,141 20,569 1,572 8% Stock & Inventory Systems & Services (SISS) 11,512 8,018 3,494 44% Total 33,653 28,587 5,066 18% • PFS division i
Slide 20: Revenue by sector and division
Revenue by sector and division Balance of revenue by division returned to more normalised levels PFS (66% v 72% PY) v the increase in SISS (34% v28% PY). This is principally reflective of the recovery of hospitality within the stock-taking business 2022 2022 2021 2021 • Retail includes retail, forec
Slide 21: 2018 – 2022 HY revenue by division
2018 – 2022 HY revenue by division PFS revenues are ahead of 2018 – 2019 levels. Strong growth in SISS compared to 2021, however still opportunity to grow to get back to pre pandemic levels 2022 £22,141 £11,512 2021 £20,569 £8,018 2020 £11,437 £7,407 2019 £21,293 £16,847 2018 £21,585 £16,819 £0 £5,0
Slide 22: Operating result by half years
Operating result by half years Illustrates the impact of Covid-19 and subsequent recovery since H2 2020. 1st HY 2022 is the strongest performance in this 5 year period. 2021. 2nd HY of 2019 includes a £1.5m profit on sale & leaseback of a property Operating profit £7,000 £6,000 £5.8m £5.2m £5,000 £4
Slide 23: Cash & net debt
Cash & net debt Strong cash & cash equivalents as at 30 June of £8.6m. Movement Movement 30-Jun-22 31-Dec-21 30-Jun-21 June 22 v June 22 v Dec 21 June 21 £'000 £'000 £'000 £'000 £'000 Cash & cash equivalent 8,565 8,167 9,785 398 (1,220) Bank overdrafts (2,387) - (1,593) (2,387) (794) Total cash 6,17
Slide 24: Outlook
Outlook David Rugg Chairman & Chief Executive 24
Slide 25: Summary & Outlook
Summary & Outlook Robust 1st half year performance and anticipate a successful full year • H1 results reflect the continued recovery which began in Q3 2020 • Sale of Four Seasons Healthcare portfolio of 111 homes launched • Robust demand for our services across all our sectors • Strong transactional
Slide 26: Appendix (I) – PLC Board
Appendix (I) – PLC Board David Rugg – Chairman & Chief Executive David is Chair and Chief Executive of Christie Group plc which is the holding company for the Group’s seven trading businesses. David has been responsible for the identification and integration of our principal business acquisitions an
Slide 27: Appendix (I) – PLC Board
Appendix (I) – PLC Board Andrew Doyle – Non- executive Director Andrew chairs the Nomination Committee and is also a member of the Audit Committee and Remuneration Committees. Andrew is an accomplished executive with international experience in fundraising, operations, P&L oversight, multi-channel s
Slide 28: Appendix (II) – Shareholdings
Appendix (II) – Shareholdings Issued share capital 26,526,729 ordinary 2p shares Major shareholders Philip Gwyn 27.93% David Rugg (Chairman & Chief Executive) 4.98%* Mr J P Rugg 6.00% Lord Lee of Trafford 4.26% Hwfa Gwyn 3.87% Katie Gwyn 3.87% Christina Bretten 3.82% Anna Ross 3.87% Andrew Muir 3.18