Gooch & Housego Plc · LSE:GHH
Gooch & Housego — H1 2021 Earnings Presentation
13 slides from Gooch & Housego's earnings presentation, Jun 1, 2021
Slide 1: Interim results – half year ended 31 March 2021
Interim results – half year ended 31 March 2021 CEO Mark Webster/CFO Chris Jewell
Slide 2: Key Highlights - Sustained Recovery, Profitable Growth
KEY HIGHLIGHTS - SUSTAINED RECOVERY, PROFITABLE GROWTH Revenue growth of 1.8% compared with the same period last year, or 4.9% at constant currency. Sustained recovery in industrial laser markets, building on previously reported semiconductor growth. Demand for hi-reliability fibre couplers an
Slide 3: Financial Headlines – Summary Income Statement
FINANCIAL HEADLINES – SUMMARY INCOME STATEMENT Period Ended 31 March 2021 2020 Change £m £m Revenue growth of 1.8% yoy or 4.9% at constant currency. Sustained recovery in industrial lasers and Revenue 58.5 57.5 1.8% semiconductors. Strong life science growth. Partially offset by lower commercial
Slide 4: Financial Headlines - Cashflow
FINANCIAL HEADLINES - CASHFLOW Period Ended 31 March 2021 2020 £3.4m reduction in working capital since September £m £m 2020, contributing to £9.2m from operating activities. Net cash flow from operating activities 9.2 7.5 Final instalment of the ITL acquisition earn-out of Cash flow from invest
Slide 5: Industrial
INDUSTRIAL Financials (45% of revenue) HY21 HY20 Reported growth Revenue £26.6m £26.5m 0.1% Adjusted operating £2.9m £0.6m 435.2% profit % margin 11.1% 2.1% 900bp Overall revenues to our Industrial markets grew by 3.6%, compared to H1 2020, on a constant currency basis. Industrial lasers recover
Slide 6: Aerospace & Defence
AEROSPACE & DEFENCE Financials (32% of revenue) HY21 HY20 Reported growth Revenue £18.4m £18.7m (1.2)% Adjusted operating £0.2m £0.3m (33.7%) profit % margin 1.0% 1.6% (60bp) Revenue growth of 2.6% compared to H1 2020, on a constant currency basis. US order book remains strong and UK Precision O
Slide 7: Life Sciences/Biophotonics
LIFE SCIENCES/BIOPHOTONICS Financials (23% of revenue) HY21 HY20 Reported growth Revenue £13.5m £12.2m 9.9% Adjusted operating £2.5m £2.4m 4.3% profit % margin 18.9% 19.9% (100)bp • Revenue grew 11.3% compared to H1 2020, on a constant currency basis. • Medical diagnostic demand remained at a high l
Slide 8: Operations - Streamlining
OPERATIONS - STREAMLINING Fremont is becoming our global design authority and lead for the Group’s AO technological roadmap. Outsourcing of manufacturing of a large proportion of the AO product from our ILM facility to a contract manufacturer in Asia is well advanced. Ilminster established as
Slide 9: Strategy – remains diversification and moving up the value chain
STRATEGY – remains diversification and moving up the value chain Diversify • Aim to establish ‘critical mass’ in Life Sciences and further strengthen our position in A&D, through investment in R&D and strategic acquisitions. A&D represents 32% of H1 FY2021 revenue and Life Sciences 23%. • Trends in
Slide 10: Key Messages and Outlook
KEY MESSAGES AND OUTLOOK Trading in the first half of the financial year reflected generally improving end markets, particularly industrial and medical lasers. Despite the pandemic the Group’s restructuring programmes are on track to be substantially complete by financial year end and deliver fu
Slide 11: Appendices
APPENDICES
Slide 12: R&D Enabling New Applications
R&D ENABLING NEW APPLICATIONS Aerospace & Industrial & Bio- Space Sensing Defence Telecoms photonics Amplifiers for Next-gen Fibre-Q Photonic devices Multi-band imaging Acousto-optic satellite to satellite for security & wind for cardiovascular systems for deflectors for and satellite to sensing Opt
Slide 13: Investor Timetable
INVESTOR TIMETABLE 7 October 2021 – Full Year Trading Update 30 November 2021 – Preliminary Announcement INTERIM RESULTS PRESENTATION – H1 2021 PAGE 13