Billington Holdings Plc · LSE:BILN
Billington — FY2023 Earnings Presentation
39 slides from Billington's earnings presentation, April 2024
Slide 1: Results for the 12 months ended 31 December 2023
Results for the 12 Presentation months title here ended 31Subtitle December 2023 and author here Date April here 2024
Slide 2: Presentation Team
2 Presentation Team Dove Valley Park, Derby Mark Smith Chief Executive Officer Mark has an in-depth knowledge of the construction industry with over 35 years’ experience, driving for growth and profit in competitive markets. Mark joined Billington as COO in June 2014 and became CEO in January 2015.
Slide 3: Executive Summary
3 Executive Summary City Square, Leeds “Record Group Performance in 2023” • Billington is a leading UK structural steel and construction safety solutions specialist. • Turnover increased 53.0% in the year to £132.5 million. • Record Profit Before Tax (PBT) of £13.4 million. • Operating profit margin
Slide 4: Divisional Breakdown
4 Divisional Breakdown “Diverse Group offering” 2023 Revenue Breakdown 6% 2% 3% 5% Structural Steel Safety Solutions 2% 82% Billington Structures Easi-Edge Site Safety Solutions Marshall Steel Stairs Hoard-it Shafton Steel Services Specialist Protective Coatings Presentation title here Subtitle and
Slide 5: Corporate
5 Corporate London (AIM) Share Price Ordinary Shares in issue (No.) Market Cap. (GBP, millions) Major Shareholders – 31 December 2023 BILN 470.00p 12,934,327 60.79 Gutenga Investments PCC Ltd 34.4% as of 12/04/2024 Close Brothers 11.6% Otus Capital Management 7.9% GPIM 5.1% Ocorian Trustees (Jersey)
Slide 6: Divisional Highlights – Billington Structures Ltd
6 Divisional Highlights – Billington Structures Ltd Panattoni Park MSCP, Avonmouth “Large, multi-sector projects” Project: LON Data Centres Project: Panattoni Park MSCP Project: SmartParc Sector: Data Sector: Infrastructure Sector: Industrial Client: ISG Ltd Client: ISG Ltd Client: TSL Projects Ltd
Slide 7: Divisional Highlights – Peter Marshall Steel Stairs Ltd
7 Divisional Highlights – Peter Marshall Steel Stairs Ltd Eastbrook Studios, Dagenham “Record output in 2023” Project: JLR South Apron Project: Eastbrook Studios Project: Skelton Grange EfW Sector: Manufacturing Sector: Leisure Sector: Power Generation Client: Billington Structures Ltd Client: Volke
Slide 8: Divisional Highlights – Easi-Edge Ltd
8 Divisional Highlights – Easi-Edge Ltd Circle Square, Manchester “Market leader in edge protection systems” Project: Blackpool Council Project: Magna Park Project: Circle Square Offices Sector: Distribution Sector: Commercial Sector: Commercial Client: Vinci Construction Ltd Client: Billington Stru
Slide 9: Divisional Highlights – Hoard-it Ltd
9 Divisional Highlights – Hoard-it Ltd St Gabriel’s Student Accommodation, Manchester “Established as the hoarding supplier of choice” Project: Vincent Wyles Project: Baker Hicks Dalry Project: Winsford Masterplan Sector: Residential Sector: Manufacturing Sector: Retail Client: Wates Construction Lt
Slide 10: Divisional Highlights – Brand-it
10 Divisional Highlights – Brand-it United Students, Leeds “Continued expansion in 2023” Project: Unite Students Project: Radcliffe Hub Project: Edinburgh University (Leeds) Sector: Commercial Sector: Education / Residential Sector: Education / Residential Client: Vinci Construction Ltd Client: Grah
Slide 11: Divisional Highlights – Shafton Steel Services
11 Divisional Highlights – Shafton Steel Services Countersinking “Further capacity expansion planned” Process: Large Plate Profiling Process: 95mm Thick Steel Process: Class 3 Fittings Client: ADEY Steel Ltd Plate Profile Cutting Client: Newbridge Engineering Client: S&E Engineering Ltd Ltd Process:
Slide 12: Divisional Highlights – Specialist Protective Coatings
12 Divisional Highlights – Specialist Protective Coatings Gas Pipe Blasting and Coating “Increased demand for intumescent paint treatments on structural steelwork” Project: Traps & Handling Project: Pipe Work Project: Surge Vessels Frames Sector: Power Generation Sector: Water Industry Sector: Oil /
Slide 13: Financial Highlights
13 Financial Highlights LON Data Centre, Slough “Strong asset backed balance sheet underpins future strategy” • Record Group performance. • Dividend declared of 33 pence per share - covered 2.56 times underlying earnings. • Operating profit margin of 10.0%. • Record orderbook level. • Strong cash ge
Slide 14: Financial Highlights – in Numbers
14 Financial Highlights – in Numbers Circle Square, Manchester Revenue £132.5m (2022: Cash £86.6m) Operating Balance Profit £22.1m £13.2m (2022: (2022: £5.9m) £11.6m) Operating Profit Debt Free Record Margin 10.0% (2022: Revenue and 6.8%) Profit Performance Net Basic EPS Pension 84.4p, an Surplus in
Slide 15: Income Statement
15 Income Statement “10.0% Operating profit margin” Year to Year to £’000 31 December 31 December 2023 2022 Revenue 132,495 86,614 Total costs (excluding depreciation) 117,034 78,659 EBITDA 15,461 7,955 Depreciation 2,215 2,044 Group operating profit 13,246 5,911 Net finance income / (expense) 142 (
Slide 16: Continued Capital Investment
16 Continued Capital Investment New Saw & Drill Line at Yate “Continued capital investment programme” 2023 Capital Investment – Plant, equipment & machinery £m New Valiant Saw and Drill Line (Yate) 1.15 Vehicles 0.42 Hoard-it and Easi-Edge hire stock 0.86 Plant and Machinery 0.49 Total 2.92 2 years
Slide 17: Net Cash Movement 2023
17 Net Cash Movement 2023 Magna Park, Lutterworth “Positive cash generation with substantial net cash balance” Presentation title here Subtitle and author here Date here
Slide 18: The Wider Steel Market
18 The Wider Steel Market LON Data Centre, Slough “Robust global steel supply” • Government support for the transition to Electric Arc Furnace (EAF) steel production in the UK. • Steel price softening noted in 2023 with more stable pricing anticipated during 2024. • UK demand in 2023 remained consis
Slide 19: Forward Order Book
19 Forward Order Book “Record order book” £m - Order Book Forward Order Book Presentation title here Subtitle Dec-20 and authorJun-21 Mar-21 here Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Date here
Slide 20: Our ESG commitments – the future is now
20 Our ESG commitments – the future is now Environmental Social Governance • Billington Structures accredited as Carbon Neutral in • Support the communities in which the companies • We welcomed a new independent Non-Executive the year. operate by taking an active involvement in Director, Lyndsey Sco
Slide 21: Strategy – Five P's
21 Strategy – Five P’s Presentation title here Subtitle and author here Date here
Slide 22: Long Term Growth
22 Long Term Growth DRIVING LONG TERM GROWTH ORGANIC INORGANIC Internal Enhancements Commercial Focus Acquisitions and Diversification • Continued focus on margin improvement and driving • Active identification and targeting of projects • Identification of complementary efficiencies: within the EU.
Slide 23: Summary – Outlook & Prospects
23 Summary – Outlook & Prospects Circle Square, Manchester • Record orderbook spanning through 2024 and 2025. • Power generation and some infrastructure sectors are forecast continued growth. • Potential for further large projects. • Raw material input prices have stabilised. • Further major capital
Slide 24: Any Questions? Appendix
AnyPresentation Questions? title here Subtitle and author here Appendix Date here
Slide 25: Statement of Financial Position
25 Statement of Financial Position “Strong asset backed Balance Sheet” £’000 31 December 2023 31 December 2022 Non-Current Assets 27,814 21,902 Current Assets 53,782 38,774 Total Assets 81,596 60,676 Current Liabilities (29,116) (22,506) Non-Current Liabilities (4,642) (3,823) Total Liabilities (33,
Slide 26: Cash Flow
26 Cash Flow “Excellent cash generation with £22.1m gross cash balance” Year to 31 Year to 31 £’000 December December 2023 2022 Profit after tax 10,325 4,734 Net cash flow from operating activities 15,989 6,606 Net cash flow from investing activities (2,674) (4,572) Net cash from financing activitie
Slide 27: Market Sectors
27 Market Sectors “Increased market share in a consistent market” Tonnes of Constructional Steelwork by Sector 1,000 Brexit uncertainty 900 800 700 Tonnes ('000's) 600 500 400 300 200 Covid-19 100 - 2013 Presentation 2014 2015 title 2016 here 2017 2018 2019 Year 2020 2021 2022 2023 2024 (proj) 2025
Slide 28: ESG – Environmental for 2023
28 ESG – Environmental for 2023 “Billington Structures accredited Carbon Neutral” • Further transition to hybrid and electric vehicles. • HVO into operational plant planned. • Consideration of solar panel / wind electricity generation. • Green energy tariffs for new energy contracts. • LED lighting
Slide 29: Steel Manufacture – Raw Materials Trends
29 Steel Manufacture – Raw Materials Trends “Steel prices have softened during 2023” Presentation title here Subtitle and author here Date here Source I British Steel I March 2024
Slide 30: Steel Manufacture – Energy Trend
30 Date here P/THERM - GBP 0 50 100 150 200 250 350 400 300 01/2021 02/2021 03/2021 04/2021 05/2021 Subtitle and author here 06/2021 07/2021 08/2021 Presentation title here “Stability has returned to energy markets in 2023” 09/2021 10/2021 11/2021 Steel Manufacture – Energy Trend 12/2021 01/2022 02/
Slide 31: Awards Success
31 Awards Success Plot B7, New Bailey NOMA, 4 Angel Square Skelton Grange EfW 2024 Structural Steel Design Awards 2024 Structural Steel Design Awards 2024 Tekla Awards Presentation title here Subtitle and author here Date here
Slide 32: Board of Directors
32 Board of Directors Plot B7 New Bailey, Salford Ian Lawson Mark Smith Trevor Taylor Non-Executive Chairman Chief Executive Officer Chief Financial Officer Presentation title Stephen Wardell hereOspelt Alexander Lyndsey Scott Non-Executive Director Non-Executive Director Non-Executive Director Subt
Slide 33: Projects
Presentation title here Projects Subtitle and author here Date here
Slide 34: Presentation title here
34 New Cold, Corby NOMA, Manchester Presentation title here Subtitle and author here Date here All England Lawn Tennis Club, Wimbledon LON Data Centre, Slough
Slide 35: Presentation title here
35 B7 New Bailey, Salford Sandwell Aquatics, Sandwell Presentation title here Subtitle and author here Date here DIRFT III, Daventry Newhurst EfW, Leicestershire
Slide 36: Presentation title here
36 Thorpe Park, Leeds Dove Valley Park, Foston Presentation title here Subtitle and author here Date here Circle Square, Manchester Westfield Energy Facility, Fife
Slide 37: Contacts
37 Contacts Billington Holdings Plc Cavendish Capital Markets Ltd IFC Advisory Limited Mark Smith, Chief Executive Officer Ed Frisby | Charlie Beeson | Tim Metcalfe | Graham Herring | Trevor Taylor, Chief Financial Officer Andrew Burdis Zach Cohen Tel: 01226 340666 Tel: 020 7220 0500 Tel: 020 3934 6
Slide 38: Disclaimer
38 Disclaimer The content of this promotion has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000. Reliance on this promotion for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all
Slide 39: +44 Presentation title here www.billington-holdings.plc.uk
+44Presentation (0) 1226 340666 title here www.billington-holdings.plc.uk Subtitle and author here Date here