Slide 1: Smart thinking, innovative solutions
Mpac Group plc Annual Report and Accounts 2023 Smart thinking, innovative solutions We create faster, more efficient automation and packaging systems
Slide 2: Agenda
Agenda 3 About Mpac 12 Financials 17 Ambition & Strategy 21 Summary & Outlook 23 Appendices 2 Mpac Group plc 2023 Full Year Results
Slide 3: About Mpac
About Mpac 3 Mpac Group plc 2023 Full Year Results
Slide 4: Who we are and what we do
Who we are and what we do Since joining the Group, I have said on many occasions that Mpac is The Group delivered on its defined by Mpac people. I have expectations to report record order been impressed by the capability intake, a 17% revenue increase and and dedication of Mpac people to a doubling
Slide 5: Mpac: creating & servicing superior automation and packaging machines globally
Mpac: creating & servicing superior automation and packaging machines globally Tadcaster Sales by Sector (%) (UK) Wijchen Mississauga 215 people (NL) (CA) 6,500 m2 213 people 111 people 4,700 m2 Food & Beverage 4,500 m2 40% Cleveland Singapore Healthcare (US) (SG) £114.2m 36% 46 people 14 people (20
Slide 6: Mpac: A business model which wins and retains customers
Mpac: A business model which wins and retains customers “We channel limitless ingenuity to create and optimise whole line manufacturing ecosystems. With many parts, in many countries, our world-class productivity helps our clients achieve more with less.” Consult Early customer engagement and buy-in
Slide 7: Mpac: operating in highly attractive markets with significant growth opportunities
Mpac: operating in highly attractive markets with significant growth opportunities Attractive Market Growth Opportunities Product category Solutions Market value Huge Significant opportunities addressable for growth market $49.7bn* Packaging Machinery > Personal healthcare > Contact lens > Point of
Slide 8: Mpac: has an attractive investment proposition to achieve a 5 year growth strategy
Mpac: has an attractive investment proposition to achieve a 5 year growth strategy Growth opportunities High quality earnings > F&B and Healthcare markets offer compelling growth opportunities > Strong growth in high margin recurring service business > Exciting opportunities in Clean Energy market >
Slide 9: Mpac: Successfully broadening our strategic key accounts
Mpac: Successfully broadening our strategic key accounts 78 OE orders won with 78 different customers >37% By value, >37% OE orders won with new customers £12m New customers included £12m of orders with 7 new strategic accounts 9 Mpac Group plc 2023 Full Year Results
Slide 10: Case study: New strategic key account
Case study: New strategic key account c.40,000 Global personnel c.30m Products sold daily Significant new client win in 2023 68 Alisio case packer Countries operating Global blue chip business, headquartered in the UK > Revenues of £14.6bn across three key sectors: £14.6bn hygiene, health and nutrit
Slide 11: Case study: Technical bandwidth 2023
Case study: Technical bandwidth 2023 Tadcaster (UK) H1 2023 H2 2023 FY 2023 At Mpac, we attract and retain our highly skilled, technical Technical Staff 97 118 118 workforce by fostering an environment of continuous Technical Hours 52,000 76,000 128,000 innovation, where creativity meets opportunity
Slide 12: 2023 results
2023 results 12 Mpac Group plc 2023 Full Year Results
Slide 13: Financial review: 2023 full year highlights
Financial review: 2023 full year highlights £118.5m £114.2m £72.5m 27.7% Order intake Revenue Order book Gross profit margin +41.4% (2022: £83.8m) +16.9% (2022: £97.7m) +7.9% (2022: £67.2m) +2.7% (2022: 25.0%) £7.1m 26.2p £2.1m £13.2m Underlying profit before tax Underlying EPS Net Cash Working Capi
Slide 14: Financial review: Group Income Statement (£m)
Financial review: Group Income Statement (£m) For the period to 31 December 2023 OE revenue (£m) Service revenue (£m) 82.4 31.8 74.1 74.6 69.4 64.1 23.1 19.4 19.6 20.2 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 31.12.2023 31.12.2022 (£m) (£m) Underlying Profit Before Tax 7.1 3.5 Restructuring
Slide 15: Financial review: Balance sheet
Financial review: Balance sheet For the period to 31 December 2023 Commentary 31.12.2023 31.12.2022 (£m) (£m) Change > Non-current assets include £24.0m of Intangible Non-current assets 67.9 68.0 0% assets, £10.8m of Tangible fixed assets, £32.2m of Pension assets and a £0.9m Deferred tax asset Inve
Slide 16: Financial review: 2023 full year cash bridge (£m)
Financial review: 2023 full year cash bridge (£m) For the period to 31 December 2023 Commentary > 2023 delivered a significant increase in order intake and machine deliveries, the timing of which had a positive impact on working capital movements > £20m borrowing facility entered into in July 2022 c
Slide 17: Ambition and Strategy
Ambition and Strategy 17 Mpac Group plc 2023 Full Year Results
Slide 18: Mpac: Five Year Ambition
Mpac: Five Year Ambition Double Revenue Acquisitive Clean Energy >10% annual >10% Operating Operational People Growth Opportunity Organic Growth Returns Excellence Operational High quality, Fuller line Scale-up Retain and excellence, and Double right-first-time offering broaden customer service tech
Slide 19: Mpac: progress on Group strategy 2023
Mpac: progress on Group strategy 2023 Going for growth Outstanding customer service > 41% increase in order intake > Significant expansion of field service capacity in the Americas > 7 new global blue chip customers relationships in target sectors > 38% growth in Service revenue, now 28% of Group re
Slide 20: Case study: Clean energy
Case study: Clean energy During 2023, Mpac supported both FREYR and Ilika in 2024 delivering several key milestones. 2023 October Automated production 2023 Interim milestone of expected June automatic electrode in H1 2024 casting with solvent 2023 slurry at the CQP facility Mpac and Freyr begin Marc
Slide 21: Summary & Outlook
Summary & Outlook 21 Mpac Group plc 2023 Full Year Results
Slide 22: Summary 2023 and Outlook
Summary 2023 and Outlook 2023 highlights > Strong financial performance, returning the Group to revenue and profit growth, and positive net cash > Good progress broadening the Group customer base, including new global strategic accounts with potential for future orders over many years > Significant
Slide 23: Appendices
Appendices 23 Mpac Group plc 2023 Full Year Results
Slide 24: Financial review: Group income statement
Financial review: Group income statement For the year to 31 December 2023 2023 2022 (£m) (£m) Change Commentary Revenue 114.2 97.7 16.9% > OE revenue growth driven by the Healthcare sector across the EMEA & Americas regions – Original Equipment 82.4 74.6 10.5% > Service revenue grew in all regions,
Slide 25: Financial review: Group Balance Sheet (£m)
Financial review: Group Balance Sheet (£m) For the year to 31 December 2023 Inventory (£m) Working Capital (£m) 80.0 70.0 67.9 68 64.0 62.2 61.7 60.0 11.1 10.2 16.9 9.6 13.2 40.0 6.3 9.6 4.3 20.0 15.1 12.2 HY22 FY22 HY23 FY23 HY22 FY22 HY23 FY23 - Net pension asset (£m) Net Current Assets (£m) -20.0
Slide 26: 2023 Pension scheme
2023 Pension scheme UK Pension Scheme – IAS19 surplus UK scheme (£m) 450.0 > Accounting surplus £32.2m (2022: £31.5m) 400.0 > Scheme surplus remained stable in the face of the continuing volatility in 2023, with the increase driven by increasing discount rates, partially offset by increasing 350.0 i
Slide 27: Appendices: Summary Share Register
Appendices: Summary Share Register For the year to 31 December 2023 31 December 2023 Schroder Investment Management 3,600,000 Hargreaves Lansdown, stockbrokers (EO) 2,026,611 Interactive Investor (EO) 1,942,498 Oury Family 1,364,370 Tellworth Investments 1,151,210 Individuals 747,607 Charles Stanley
Slide 28: We create faster, more efficient automated packaging systems
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 faster, more efficient automated packaging systems