Slide 1: Half year results to 31 January 2018
Volution Group plc Half year results to 31 January 2018 Excellence in ventilation
Slide 2: Introduction
Introduction Excellence in ventilation Volution Group plc is a leading supplier of ventilation products to the residential and commercial construction markets in the UK, the Nordics and Central Europe. >>Introduction to Volution >>Highlights >>Financial Review >>Business update and outlook >>Q&A Ron
Slide 3: Volution Group plc Snapshot
Volution Group plc Snapshot Brands Excelling in both the residential Ventilation Group 88.5% of Group revenue and commercial markets. The Ventilation Group consists of thirteen key brands: We operate through two segments: >> In the UK: Vent-Axia, Manrose, Breathing Buildings, >> Ventilation Group, w
Slide 4: Our Locations
Our Locations UK and Ireland Ten locations Seven brands We aim for our products to enhance our customers’ experience of ventilation by reducing energy consumption, improving air quality and design and making them easier to use. Total locations Central Europe Four locations 20 Four brands Locations N
Slide 5: Our Strategy
Our Strategy Further progress with revenue growth of 11.6% and adjusted EPS up 8.3% Three strategic pillars Organic growth in our Growth through a Development of OEM core markets disciplined and value‑adding (Torin-Sifan) range acquisition strategy and customer base >> 5.1% organic revenue growth at
Slide 6: 2018 Half Year Highlights
2018 Half Year Highlights Revenue £m Adjusted operating profit £m Adjusted operating profit margin % £98.7m £18.3m 18.5% 98.7 18.3 22.5 21.7 21.7 88.5 17.1 15.2 19.4 18.5 14.0 70.1 13.1 64.3 58.2 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 >> Revenue growth in the peri
Slide 7: 2018 Half Year Highlights continued
2018 Half Year Highlights continued Adjusted EPS p Adjusted operating cash flow £m Net debt £m 7.1p £11.8m £34.9m 7.1 16.4 40.6 6.5 36.1 37.0 34.9 5.7 5.0 11.6 11.8 11.4 11.8 4.6 21.4 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 Jan-16 Jul-16 Jan-17 Jul-17 Jan-18 >> Improved adjusted EPS growth
Slide 8: Financial Review
Financial Review Ian Dew – CFO Half year results to 31 January 2018
Slide 9: Financial Highlights
Financial Highlights Half year results to 31 January 2018 Six months to Six months to Key highlights 31 January 31 January Movement >> Revenue growth of 11.6% (10.3% at constant 2018 2017 Movement % currency). Organic growth of 6.3% (5.1% cc). Revenue (£m) 98.7 88.5 10.2 11.6% >> Growth in adjusted
Slide 10: Income Statement Summary
Income Statement Summary Half year results to 31 January 2018 Six months to Six months to >> Revenue growth of 11.6% (+£10.2 million) (10.3% at cc). 31 January 31 January Movement Movement >> Revenue growth would have been £1.1 million lower 2018 2017 £m % at cc. Revenue (£m) 98.7 88.5 10.2 11.6% >>
Slide 11: Adjusted Profit Before Tax Reconciled to Reported Profit Before Tax
Adjusted Profit Before Tax Reconciled to Reported Profit Before Tax Half year results to 31 January 2018 Six months to Six months to Adjustments: 31 January 31 January >> Exceptional items: 2018 2017 Movement £m £m £m >> Acquisition related costs of £0.3 million (H1 2017: £0.6 million) and factory r
Slide 12: Consolidated Statement of Financial Position Summary
Consolidated Statement of Financial Position Summary Half year results to 31 January 2018 31 January 31 July >> Non-current assets decreased by £7.9 million in the period 2018 2017 mainly as a consequence of depreciation and amortisation. £m £m >> Working capital increased temporarily, from very low
Slide 13: Cash Flow Summary and Net Debt Bridge
Cash Flow Summary and Net Debt Bridge Half year results to 31 January 2018 Six months to Six months to >> Net debt decreased by £5.7 million from £40.6 million 31 January 31 January since 31 January 2017. 2018 2017 £m £m >> On 15 December 2017, the Group refinanced its bank debt to provide more capa
Slide 14: Business update and outlook
Business update and outlook Ronnie George – CEO
Slide 15: Growth by Market Sector
Growth by Market Sector H1 2018 H1 2018 H1 2017 Growth Growth (cc) £m £m (cc) £m % % Ventilation Group revenue 87.4 86.4 77.7 12.4% 11.2% OEM (Torin-Sifan) revenue 11.3 11.2 10.8 5.5% 4.2% Volution Group revenue 98.7 97.6 88.5 11.6% 10.3% Revenue growth Revenue £m Volution Group revenue grew by 11.6
Slide 16: Market Sector Review: UK
Market Sector Review: UK % of Volution Group Total Organic Inorganic Total revenue H1 2018 H1 2018 H1 2017 growth growth (cc) growth (cc) growth (cc) £m £m (cc) £m % % % % UK Ventilation Group revenue 53.5 53.4 48.9 9.3% 5.3% 3.8% 9.1% UK Residential New Build revenue 11.0 11.0 10.2 7.6% 7.6% 0.0% 7
Slide 17: Market Sector Review: Nordics
Market Sector Review: Nordics % of Volution Group Total Organic Inorganic Total revenue H1 2018 H1 2018 H1 2017 growth growth (cc) growth (cc) growth (cc) £m £m (cc) £m % % % % Nordics revenue 19.6 19.2 15.5 27.0% 6.4% 17.9% 24.3% 19.9% Nordics >> Sales in the Nordics sector increased by £4.1 millio
Slide 18: Market Sector Review: Central Europe
Market Sector Review: Central Europe % of Volution Group Total Organic Inorganic Total revenue H1 2018 H1 2018 H1 2017 growth growth (cc) growth (cc) growth (cc) £m £m (cc) £m % % % % Central Europe revenue 14.3 13.8 13.3 7.1% 3.6% 0.0% 3.6% 14.5% Central Europe >> Organic growth of 3.6% (cc). Belgi
Slide 19: Market Sector Review: OEM (Torin-Sifan)
Market Sector Review: OEM (Torin-Sifan) % of Volution Group Total Organic Inorganic Total revenue H1 2018 H1 2018 H1 2017 growth growth (cc) growth (cc) growth (cc) £m £m (cc) £m % % % % 11.5% OEM (Torin-Sifan) revenue 11.3 11.2 10.8 5.5% 4.2% 0.0% 4.2% OEM (Torin-Sifan) >> Revenue was £11.3 million
Slide 20: Volution Group plc – Operations update
Volution Group plc – Operations update >> Factory rationalisation: >> Investment in both the central procurement and innovation >> Whilst the overall project will complete on time by the end teams aimed at accelerating new product development and of July 2018, there have been some commissioning issu
Slide 21: Summary and Outlook
Summary and Outlook >> Revenue growth of 11.6% (10.3% cc). UK and Ireland >> Good organic growth of 5.1% cc. >> Ongoing investment in new product development and cost down initiatives are going well with a number of new projects having been added recently. >> Factory rationalisation and capacity exp
Slide 22: Thank you
Thank you Q8A evolution
Slide 23: Disclaimer
Disclaimer This document may contain forward-looking statements which are made in good faith and are based on current expectations or beliefs, as well as assumptions about future events. You can sometimes, but not always, identify these statements by the use of a date in the future or such words as
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Slide 25: Post Period Event – Acquisition of Simx
Post Period Event – Acquisition of Simx >> On 19 March 2018 Volution Group plc purchased Simx Limited in New Zealand. >> Simx is the market leading residential ventilation products supplier in New Zealand with channel access enabling us to place other Group products in this market. >> The considerat