Grafton Group Plc · LSE:GFTU
Grafton — H1 2021 Earnings Presentation
7 slides from Grafton's earnings presentation, Jul 8, 2021
Slide 1: Trading Update for Six Months Ended 30 June 2021
Building Progress Together Grafton Group plc Trading Update for Six Months Ended 30 June 2021 8 July 2021
Slide 2: Introduction
Introduction • The last week has been one of the most significant in Grafton’s history • Completion of acquisition of IKH in Finland • Sale of GB traditional merchanting • Consistent with our strategy • Underlines our disciplined approach to use of capital • Completes our planned disposals • Grafton
Slide 3: Sale of GB traditional merchanting
Sale of GB traditional merchanting • Enterprise value of £520m plus freeholds retained with a market value of £25m • 2020 revenue £828.8m (2019: £1.02bn) and 2020 adjusted operating profit £18.8m (2019: £33.3m) • Lease liability of £77m as at 31 Dec 2020 • Disposal will complete before the end of Q1
Slide 4: Completed Acquisition of IKH
Completed Acquisition of IKH • One of Finland’s largest workwear, PPE, tools, spare parts and accessories technical wholesalers and distributors • Experienced management team • Consideration payable was €199.3m on a cash and debt free basis • Funded entirely from existing cash resources • Year ended
Slide 5: Trading update
Trading update Total Revenue Average Daily Like-for-Like Constant Currency Revenue Growth Sterling Sterling Segment Period from 1 January to 30 June Period from 1 January to 30 June 2021 vs 2020 2021 vs 2019 2021 vs 2020 2021 vs 2019 Distribution - UK (Continuing Operations) 63.5% 16.7% 64.9% 20.0%
Slide 6: Full Year Outlook and Summary
Full Year Outlook and Summary • Strong trading in the first half with revenue in May and June ahead of expectations • Ongoing supply chain challenges around product availability and price inflation • Group adjusted operating profit for the year in continuing operations upgraded to circa. £240 millio
Slide 7: Questions
Questions July 2021 Update