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Slide 2: Chairman's Statement
CHAIRMAN'S STATEMENT Introduction A significant amount of work and progress in shaping the customer inventory headwinds communicated throughout the The Board strives to maintain a progressive dividend policy company for future growth has been achieved in the last year, year. Additionally, with the a
Slide 3: Chairman's Statement continued: Outlook
CHAIRMAN'S STATEMENT continued Outlook Our base strategy is to yield sustainable long-term growth and although at the revenue line these results support this, clearly the level of profitability this year does not. External factors, including current market conditions and the normalising of elevated
Slide 4: Operational and Financial Review
OPERATIONAL AND FINANCIAL REVIEW Introduction FY24 was a resilient and strategically pivotal year for CML, Nevertheless, it is important to note that CML remains a key The integration of the MwT business into the Group has marked by the acquisition of Microwave Technology Inc (MwT) partner to its cu
Slide 5: Operational and Financial Review continued
OPERATIONAL AND FINANCIAL REVIEW continued Early customer adoption has started and a programme of Our semiconductor solutions for IIoT include modem ICs, with The sales, marketing and customer support teams have each product enhancements to widen the available market further is and without embedded
Slide 6: Operational and Financial Review continued
OPERATIONAL AND FINANCIAL REVIEW continued Distribution and administration Multi-year high levels of R&D focused on markets expansion The longer-term ambition remains unchanged, to drive Distribution and administration expenses increased to coupled with the recent enlargement of the product range si
Slide 7: Operational and Financial Review continued
OPERATIONAL AND FINANCIAL REVIEW continued Earnings per share Pension scheme Basic earnings per share for the year equated to 13.00p. After The Group currently has a retirement benefit obligation in adjusting for the prior year exceptional sale of land, this respect of an historic defined benefit pe
Slide 8: Consolidated income statement for the year ended 31 March 2024
Consolidated income statement for the year ended 31 March 2024 2024 2023 Before Before exceptional Exceptional Exceptional Exceptional Total items items items items Total Notes £’000 £’000 £’000 £’000 £’000 £’000 Revenue 1,2 22,893 - 22,893 20,643 - 20,643 Cost of sales (6,683) - (6,683) (5,032) - (
Slide 9: Consolidated statement of total comprehensive income
Consolidated statement of total comprehensive income for the year ended 31 March 2024 2024 2024 2023 2023 £’000 £’000 £’000 £’000 Profit for the year 2,060 4,810 Other comprehensive income/(expense): Items that will not be reclassified subsequently to profit or loss: Re-measurement of defined benefi
Slide 10: Consolidated statement of financial position
Consolidated statement of financial position as at 31 March 2024 2024 2024 2023 2023 £’000 £’000 £’000 £’000 Assets Non‑current assets Goodwill 14,449 7,429 Other intangible assets 3,350 984 Development costs 15,150 13,801 Property, plant and equipment 5,655 5,249 Right-of-use assets 813 1,022 Defer
Slide 11: Consolidated statement of financial position continued
Consolidated statement of financial position continued as at 31 March 2024 2024 2024 2023 2023 £’000 £’000 £’000 £’000 Capital and reserves attributable to equity owners of the parent Share capital 825 796 Share premium 2,327 2,462 Capital redemption reserve 8,372 8,372 Other reserve 3,073 - Treasur
Slide 12: Consolidated cash flow statement
Consolidated cash flow statement for the year ended 31 March 2024 2024 2023 £’000 £’000 Operating activities Profit for the year before taxation 2,515 5,216 Adjustments for: Foreign exchange movement (140) - Depreciation – on property, plant and equipment 520 367 Depreciation – on right-of-use asset
Slide 13: Consolidated cash flow statement continued
Consolidated cash flow statement continued for the year ended 31 March 2024 2024 2023 £’000 £’000 Investing activities Proceeds from sale of fixed assets - 2,500 Purchase of property, plant and equipment (1,524) (932) Investment in development costs (3,541) (4,455) (Investment) /repayment in fixed t
Slide 14: Consolidated statement of changes in equity
Consolidated statement of changes in equity for the year ended 31 March 2024 Share- Foreign Share Share Redemption Other Treasury based exchange Retained capital premium reserve Reserve shares payments reserves earnings Total £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 At 31 March 2022 865
Slide 15: Consolidated statement of changes in equity continued
Consolidated statement of changes in equity continued for the year ended 31 March 2024 Share- Foreign Share Share Redemption Other Treasury based exchange Retained capital premium reserve reserve shares payments reserves earnings Total £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 £’000 Profit for
Slide 16: Notes to the financial statements: Segmental analysis
Notes to the financial statements For the year ended 31 March 2024 1 Segmental analysis Reported segments and their results in accordance with IFRS 8, are based on internal management reporting information that is regularly reviewed by the chief operating decision maker (C. A. Gurry). The measuremen
Slide 17: Notes: Revenue, Dividend, Income tax
Notes to the financial statements continued For the year ended 31 March 2024 4 Income tax expense 2 Revenue The Directors consider that tax will be payable at varying rates according to the country of incorporation of a subsidiary and have provided on that basis. The geographical classification of b
Slide 18: Notes: Earnings per share
Notes to the financial statements continued For the year ended 31 March 2024 5 Earnings per share 2024 2023 Earnings per share for profit from continuing operations attributable to the ordinary equity holders of the Company: Basic earnings per share 13.00p 30.29p Diluted earnings per share 12.86p 29
Slide 19: Notes: Adjusted EBITDA and cash
Notes to the financial statements continued For the year ended 31 March 2024 6 Adjusted EBITDA Adjusted earnings before interest, tax, depreciation and amortisation (‘Adjusted EBITDA’) is defined as profit from operations before all interest, tax, depreciation and amortisation charges, exceptional i
Slide 20: Notes: Principal risks and uncertainties
Notes to the financial statements continued For the year ended 31 March 2024 8 Principal risks and uncertainties Key risks of a financial nature Foreign exchange The Group’s earnings are linked to the US Dollar, a decline in this currency will have a direct effect on both transactional and translati
Slide 21: Notes: Key risks of a non-financial nature
Notes to the financial statements continued For the year ended 31 March 2024 Key risks of a non-financial nature Customer product demand The Group operates in a highly competitive global market that is evolving continually. The Group’s ability to respond to many competitive factors including, but no
Slide 22: Notes: Acquisition of Microwave Technology Inc
Notes to the financial statements continued For the year ended 31 March 2024 9 Acquisition of Microwave Technology Inc The provisional fair values of assets acquired, and liabilities assumed at the date of acquisition are as follows: Following the announcement on 17 January 2023 that a definitive ag
Slide 23: Notes: General and post balance sheet events
Notes to the financial statements continued. For the year ended 31 March 2024 12 General Net cash outflow arising on acquisition: £’000 These Condensed Consolidated Financial Statements have been prepared in accordance with UK adopted International Accounting Standards and are in conformity with the
Slide 24: CML Microsystems Plc
CML Microsystems Plc Oval Park, Langford Maldon, Essex CM9 6WG T; +44 (0)1621 875500 F: +44 (0)1621 875606 group@cmimicrople.com www.cmimicropic.com