Chesterfield Special Cylinders Holdings Plc · LSE:CSC
Chesterfield Special Cylinders — H1 FY2026 Earnings Presentation
15 slides from Chesterfield Special Cylinders's earnings presentation, May 20, 2026
Slide 1: FY26 Interim Results
FY26 Interim Results Chris Walters, Chief Executive Sally Millen, Director of Finance Chris Webster, Chief Operating Officer 20 May 2026 1
Slide 2: Disclaimer
Disclaimer The content of this document (the “Presentation”) has not been reviewed, authorised or otherwise approved by the UK Financial Conduct Authority (FCA) or any other regulatory body. Reliance on the Presentation for the purpose of engaging in any investment activity may expose an individual
Slide 3: Highlights
Highlights ● First-half trading in line with our expectations ● Good strategic progress and robust outlook in defence ● UK naval Integrity Management postponed into FY27 ● UK HAR project delays, any contract wins too late for FY26 ● Full-year performance expected at similar level to FY25 3
Slide 4: Agenda
Agenda ● FY26 interim financial results ○ Revenue by sector ○ P&L ○ Balance sheet ○ Cash ● Strategic progress ○ Defence ○ Lifecycle services ○ Hydrogen ● Summary & outlook 4
Slide 5: Interim FY26 financial results
Interim FY26 financial results Revenue Gross profit £6.4m £2.1m (2025: £5.4m) (2025: £1.4m) Adjusted EBITDA* loss Loss before tax £0.6m £1.1m (2025: £1.3m loss) (2025: £2.5m loss) Operating cash outflow** Cash balance Adjusted EBITDA loss and loss before tax are after central costs of £0.4m (2025: £0.
Slide 6: Interim FY26 revenue by sector
Interim FY26 revenue by sector Total revenue (all sectors) £6.4m (2025: £5.4m) Defence Hydrogen £5.0m £0.9m (2025: £4.4m) (2025: £0.7m) Industrial Offshore services Lifecycle services (all sectors) £3.0m (2025: £3.2m) £0.4m £0.1m In-situ Integrity Management £1.3m (2025: £2.1m) (2025: £0.2m) (2025:
Slide 7: Interim P&L, revenue growth, controlled costs
Interim P&L, revenue growth, controlled costs H1 FY26 H1 FY25 FY25 £m £m £m Revenue 6.4 5.4 16.6 Gross profit 2.1 1.4 6.4 Adjusted EBITDA (0.6) (1.3) 0.8 Chesterfield Special Cylinders (0.2) (0.9) 1.6 Central costs (0.4) (0.4) (0.8) Depreciation (0.4) (0.4) (0.8) Exceptional items (0.0) (0.7) (0.8) Op
Slide 8: Interim balance sheet, post-close lease renewal
Interim balance sheet, post-close lease renewal H1 FY26 H1 FY25 FY25 £m £m £m Tangible assets 6.3 6.6 6.4 Tangible fixed assets 6.2 6.4 6.2 Right of use assets (ROUA) 0.1 0.2 0.2 Net working capital 2.5 0.8 2.4 Tax provisions 0.3 0.1 0.2 Cash balance 1.1 1.9 2.1 Finance leases & ROUA liabilities (0.5
Slide 9: Cash balance, bridge from September 2025
Cash balance, bridge from September 2025 9
Slide 10: Strategic progress
Strategic progress ● Defence ● Lifecycle services ● Hydrogen 10
Slide 11: Defence - growth from overseas naval contracts
Defence - growth from overseas naval contracts FY26 progress FY28 target Total defence Overseas defence revenue revenue Double £5.0m £1.7m high-value overseas (2025: £4.4m, up 14%) (2025: £1.2m, up 42%) defence revenue ● Revenue reflects the delivery of submarine and surface ship contract milestones
Slide 12: Lifecycle services - first overseas naval contract award
Lifecycle services - first overseas naval contract award FY26 progress FY28 target In-situ Integrity In-factory lifecycle Management revenue services revenue 30% £1.3m £1.7m of total revenue from (2025: £2.1m) (2025: £1.1m) lifecycle services ● UK naval Integrity Management deployments expected in FY
Slide 13: Hydrogen - uncertainty remains around UK HAR rollout
Hydrogen - uncertainty remains around UK HAR rollout FY26 progress FY28 target Total hydrogen Newbuild hydrogen Grow hydrogen sales to revenue revenue £0.9m £0.3m 30% (2025: £0.7m, up 29%) (2025: £nil) of total revenue ● Total first-half revenue reflects in-factory lifecycle services ● Continued dela
Slide 14: Summary & outlook
Summary & outlook ● Full-year performance expected at similar level to FY25 ● Uncertain UK hydrogen project rollout, FY26 orders possible ● Strong progress continues with overseas naval customers ● Robust defence order book and pipeline underpin outlook 14
Slide 15: FY26 Interim Results Q&A
[NII Chesterfield FY26 Interim Results Q&A
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