Alumasc Group Plc · LSE:ALU
Alumasc — The Alumasc Group — H1 2016 Earnings Presentation
20 slides from Alumasc's earnings presentation, February 2016
Slide 1: The Alumasc Group plc Interim Results to December 2015
The Alumasc Group plc Interim Results to 31 December 2015 1
Slide 2: Contents
Contents Overview Strategic Development Financial Review Business Review Order Books & Outlook Paul Hooper Chief Executive Andrew Magson Finance Director Levolux Ltd – Citylabs (Former Royal Eye Hospital), Manchester 2
Slide 3: Overview
Overview Alumasc’s fourth consecutive first half year of earnings growth: • Underlying PBT from continuing operations up 8% to £4.0m (2014 : £3.7m) • Underlying EPS from continuing operations up 10% to 8.9p (2014 : 8.1p) • Basic EPS up 15% to 7.6p (2014 : 6.6p) • Improved results driven by further p
Slide 4: Contents
Contents Overview Strategic Development Financial Review Business Review Order Books & Outlook Paul Hooper Chief Executive Andrew Magson Finance Director Rainwater & Drainage – Alumasc Skyline Coping – Queensland Road, London 4
Slide 5: Strategic Development
Strategic Development • The group’s strategy for future growth is to position Alumasc as: A focused supplier of premium building products and solutions, particularly those which add value in conserving and managing the scarce resources of energy and water in the built environment • There are numerou
Slide 6: Alumasc's Business Model for Continued Profitable Growth
Alumasc’s Business Model for Continued Profitable Growth • Our strategic positioning, initiatives and investments in people and innovation should enable continued outperformance of the UK construction market • We see further opportunities to leverage this growth into improved profitability: − Manage
Slide 7: Contents
Contents Overview Strategic Development Financial Review Business Review Order Books & Outlook Paul Hooper Chief Executive Andrew Magson Alumasc Water Management Solutions – Modular 120 Finance Director 7
Slide 8: Income Statement Summary (£m) 6 months to 31 December
Income Statement Summary (£m) 6 months to 31 December Change 2015 2014 % Continuing Operations:* Revenue 43.5 45.2 -4 Underlying Operating Profit 4.1 4.0 +4 Interest on borrowings (0.1) (0.3) Underlying PBT 4.0 3.7 +8 IAS19 pension costs (0.7) (0.7) Brand amortisation (0.1) (0.1) Discontinued Operat
Slide 9: Segmental Analysis of Results: Continuing Operations
Segmental Analysis of Results : Continuing Operations 6 months to 31 December 2015 2014 2015 2014 Underlying Underlying Underlying Operating Operating Operating Margin Revenue Profit(1) Revenue Profit(1) % % £m £m £m £m Solar Shading & Screening 7.7 0.5 8.2 0.4 6.1 4.7 Roofing & Walling 18.4 1.7 20.
Slide 10: Cash Flow Summary (£m)
Cash Flow Summary (£m) - 6 months to 31 December 2015 2014 Change EBITDA - continuing operations 4.6 4.5 0.1 Change in working capital (0.7) (1.9) 1.2 Operating cash flow 3.9 2.6 1.3 Capital expenditure (0.7) (0.6) (0.1) Pension funding (1.7) (1.5) (0.2) Interest (0.1) (0.2) 0.1 Tax (0.4) (0.5) 0.1
Slide 11: Balance Sheet Summary (£m)
Balance Sheet Summary (£m) 31 Dec 2015 30 June 2015 31 Dec 2014 Tangible fixed assets 5.3 7.5 7.4 Intangible fixed assets 19.3 19.3 19.3 Working capital 6.8 6.8 8.8 Other net liabilities (1.6) (1.8) (2.2) Capital invested (continuing operations) 29.8 31.8 33.3 Current assets available for sale (H1 2
Slide 12: Contents
Contents Overview Strategic Development Financial Review Business Review Order Books & Outlook Paul Hooper Chief Executive Andrew Magson Finance Director Rainclear Systems – Cast Iron Rainwater – Lydiard House & Park, Swindon 12
Slide 13: Energy Management
Energy Management Solar Shading & Screening Roofing & Walling • Order intake over the last 12 months of £23m compared • Strong performance by historical standards, roofing with revenue in the same period of £15.4m business has recovered back to sustainable profit in last 3 years • Substantial increa
Slide 14: Water Management, House Building & Ancillary
Water Management, House Building & Ancillary Water Management Housebuilding & Ancillary • Strong divisional revenue and profit growth • Another record first half performance from Timloc • Benefited from the introduction of the Alumasc Water • Growing demand for house building products Management Sol
Slide 15: Contents
Contents Overview Strategic Development Financial Review Business Review Order Books & Outlook Paul Hooper Chief Executive Andrew Magson Finance Director Alumasc Façades – Alumasc Ventilated System – Bellevue Terrace, Bristol 15
Slide 16: Order Book Development (£m)
Order Book Development (£m) 16
Slide 17: Anticipated Order Book Realisation Into Revenue (£m)
Anticipated Order Book Realisation Into Revenue (£m) • Most of the order book increase relates to Levolux projects which are expected to convert into revenues after 30 June 2016 17
Slide 18: Outlook
Outlook • With the group expected to benefit from its normal seasonal trading bias in favour of the second half of the financial year, the Board’s previous expectations for the group’s full year performance remain unchanged • More broadly, against a background of further UK growth in demand for prem
Slide 19: Why Alumasc is Outperforming the UK Construction Market
Appendix Why Alumasc is Outperforming the UK Construction Market • Strong strategic positioning in sustainable building product niches − particularly energy and water management • Consistent revenue investment of approaching £1m pa in: − high quality managerial, sales and commercial resources − inno
Slide 20: The Alumasc Group plc Interim Results to December 2015
The Alumasc Group plc Interim Results to 31 December 2015 20