Slide 1: Preparing for Growth
PREPARING FOR GROWTH Carclo plc Half Year Results to 30 September 2021 Investor Presentation 23/24 November 2021
Slide 2: Nick Sanders and Phil White
Nick Sanders Phil White Executive Chairman Chief Financial Officer Carclo Half Year Results Investor Presentation 23/24 November 2021 2
Slide 3: Agenda
Agenda ▪ Overview ▪ Financial Results ▪ Summary and Outlook Carclo Half Year Results Investor Presentation 23/24 November 2021 3
Slide 4: Group H1 Overview
Group H1 Overview Revenue ▪ Strong trading momentum and execution delivered significant growth in both £58.7m revenues and underlying operating margins, ahead of expectations H1 2021: 2 £50.0m ▪ Sales growth of 17.5%, led by 19.8% growth in CTP Underlying operating ▪ Underlying operating profit more
Slide 5: Divisional Overview
Divisional Overview ▪ CTP ▪ Continuing to win new business in medical and diagnostics sector ▪ Tooling order intake strong ▪ Strong performance despite operational and economic headwinds ▪ Shortage of labour ▪ Increased raw material and energy prices ▪ Increasing logistics cost and lead times ▪ Miti
Slide 6: Financial Results for the Half Year ended 30 September 2021
Phil White Chief Financial Officer Financial Results for the Half Year ended 30 September 2021
Slide 7: Profit Performance
Profit Performance Profit improvement ahead of expectations despite increased post-Covid supply chain headwinds H1 2022 H1 2021 £m £m Revenue 58.7 50.0 ▪ Revenue up 17.5% by £8.7m despite COVID-19 Underlying1 operating profit 3.7 1.5 ▪ Underlying operating profit up 141% ▪ Underlying eps of 2.5p (H1
Slide 8: Underlying operating profit bridge
Underlying operating profit bridge £m ▪ Underlying profit up by £2.2m to £3.7m (CTP up £1.6m, central costs reduced by £0.9m, Aerospace down £0.3m) Carclo Half Year Results Investor Presentation 23/24 November 2021 8
Slide 9: Cash and Balance Sheet Highlights
Cash and Balance Sheet Highlights 30 Sep 2021 v 30 Sep 2020 Strong balance sheet rebuild from greatly reduced pension deficit and retained profit H1 2022 H1 2021 ▪ £0.6m net cash flow from op. activities (H1 2021: £m £m £0.5m outflow) ▪ Net debt excluding lease liabilities down £2.8m to Net cash fro
Slide 10: Group Net Debt H1 movement
Group Net Debt H1 movement (£0.8m increase from £27.6m to £28.4m) ▪ Net debt increased in H1 by £0.8m to £28.4m. £9.7m of net debt reductions arose from: ▪ £6.9m underlying ebitda, £2.1m US Covid loan forgiven, and £0.7m discontinued business ▪ £10.4m of debt increases arose from: ▪ £3.3m working ca
Slide 11: Pensions (IAS19) H1 movement
Pensions (IAS19) H1 movement ▪ H1 2022 reduction of £3.9m from enhanced contributions and higher asset returns ▪ No change since 31 Mar ‘21 on key discount rate and mortality assumptions, await 2021 triennial valuation outcome ▪ New initiatives introduced to provide enhanced member benefits and redu
Slide 12: CTP - Divisional Operating Performance
CTP - Divisional Operating Performance Carclo Technical Plastics – 6 Months to Sept 2021 CTP – Performance Summary Revenue and Underlying Op. Profit £m ▪ Strong 19.8% revenue growth on new business 60.0 56.6 ▪ Product sales up 15.6% to £47.5m 47.2 ▪ Tooling sales up 48.2% to £9.1m 50.0 ▪ Tooling sal
Slide 13: Aerospace - Divisional Operating Performance
Aerospace - Divisional Operating Performance Aerospace – 6 Months to September 2021 Aerospace – Performance Summary Revenue and Underlying Op. Profit £m ▪ Aerospace was hardest hit by Covid as a sector 3.0 2.7 ▪ £0.6m lower sales and £0.3m lower profit, but set against a challenging comparator which
Slide 14: Summary and Outlook
Summary and Outlook • Good performance in H1 despite post-Covid operational and economic headwinds • Headwinds expected to last throughout second half, but mitigating actions in place • Full year underlying operating profit anticipated to be slightly ahead of expectations, before one-off benefits •
Slide 15: Disclaimer
Disclaimer This presentation may include certain forward-looking statements, beliefs or opinions, including statements with respect to Carclo plc’s business, financial condition and results of operations. These forward-looking statements can be identified by the use of forward-looking terminology, i