Slide 1: Preliminary Results for the Year Ended 31 March 2018
. Lea aw ACCSYS DOUBLING OF CAPACITY hs ON TRACK TO MEET STRONG DEMAND PRELIMINARY RESULTS FOR THE YEAR ENDED 31 MARCH 2018
Slide 2: Disclaimer
ACCSYS DISCLAIMER The purpose of this document is to provide general information about Accsys Technologies PLC ("Accsys") and its operations solely to the addressee, By accepting this document the recipient agrees to keep confidential at all times information contained in it or made available in con
Slide 3: Context - Material Choice
[cioeA CONTEXT- MATERIAL C CHOICE Demand is growing for sustainable alternatives to to man-made and fossil-based materials from every sector of manufacturing, reflecting the desire to live more sustainably Demand for our environmentally-friendly products continues to grow With Accoya® and Tricoya®,
Slide 4: Walled Garden Nursery, UK - Accoya Greenhouses
WALLED GARDEN NURSERY, UK - ACCOYA® GREENHOUSES
Slide 5: Major Capacity Expansion and Strategic Progress
ACCSYS MAJOR CAPACITY EXPANSION AND STRATEGIC PROGRESS Tricoya® plant in Hull - Construction remains on track for completion around mid-2019 * Tricoya® licensing activity - Continued strong sales of Tricoya® panels - 26% increase - Agreement of Tricoya® user licence with FINSA - Medite existing user
Slide 6: Major Capacity Expansion and Strategic Progress
MAJOR CAPACITY EXPANSION AND STRATEGIC PROGRESS ¢ Accoya® plant in Arnhem - Plant expansion complete - Operational from June - Increase in capacity by 50% to 60,000m2 ¢ Strong demand continues for Accoya® - Repeat business - €xpected to generate significant increase in sales and margins accoyaQ tric
Slide 7: Financial Highlights
ACCSYS FINANCIAL HIGHLIGHTS Total revenue increased 8%, Accoya® revenue up by 11% witha 15% increase in H2 * Accoya® sales volume up 7% to 42,676m? with 15% increase in H2 * Accoya® gross margin improved to 24% in H2 following price increases ¢ Underlying EBITDA improved to a €0.7m loss in H2 compar
Slide 8: Barangaroo House, AUS - Accoya Cladding
BARANGAROO HOUSE, AUS - ACCOYA® CLADDING ACCSYS
Slide 9: Financial Overview
ACCSYS FINANCIAL OVERVIEW Yea to) Mar 2018 | ear 037 Mar 2017 Underlying Statutory Underlying Statutory Total Group Revenue €60.9m €60.9m €56.5m €56.5m Gross Profit €13.6m €13.6m €14.4m €14.4m EBITDA (€3.5m) (€5.7m) (€1.5m) (€1.2m) Loss before tax (€8.8m) (€10.4m) (€4.5m) (€4.5m) Year-end cash balan
Slide 10: Segmental Analysis
SEGMENTAL ANALYSIS €'000 €'000 €'000 €'000 €'000 Total revenue 60,711 60,911 Gross profit 13,441 200 - - 13,641 EBITDA 4,296 (3,019) (5,423) (1,505) (5,651) Underlying EBITDA 4,644 (2,256) (4,537) (1,350) (3,499) €'000 €'000 €'000 €'000 €'000 Total revenue 56,499 56,529 Gross profit 14,324 30 - - 14
Slide 11: Revenue
ACCSYS REVENUE Group revenue up 8% to €60.9m ¢ Group licensing income down from €1.9m to €0.2m * Accoya® revenue up 11% to €56.3m « Accoya® sales volume up 7% YOY to 42,676m? with15% increase in H2 - UK &lreland: level at 11,994m2 - Rhodia Acetow: +11% to 9,464m3 - Americas: +43% to 5,494m? - Benelu
Slide 12: Accoya Manufacturing Margin
ACCSYS ACCOYA" MANUFACTURING MARGIN Accoya® manufacturing gross profit up 6% to €13.1m (2017: €12.4m) ¢ Gross margin of 22% (2017 : 23%) One-off loss on low grade wood Increased cost of raw materials Additional maintenance stop linked to expansion Offset by price increase ¢ Benefit of 30% gross marg
Slide 13: Balance Sheet
ACCSYS BALANCE SHEET SS a €'000 €'000 Non-current assets 71,488 32,520 Current assets 63,505 61,268 Current liabilities (21,414) (14,599) Net current assets 42,091 46,669 Non-current liabilities (40,084) (22,718) Net assets 73,495 56,471 accoyaQ tricoyc © Accsys Technologies, 2018 13
Slide 14: Cash Flow
ACCSYS CASH FLOW PS a €'000 €'000 Cash flow from operating activities before changes in (4,548) (1,189) working capital Net cash used by operating activities before tax (1,756) (1,710) Tax paid (2,013) (745) Net cash absorbed by operating activities (3,769) (2,455) Net cash used in investing activit
Slide 15: Sleeve House, USA - Accoya Cladding
SLEEVE HOUSE, USA - ACCOYA® CLADDING © Acc eo iaere : S 2018 tees Image: © Delta Millworks
Slide 16: Accoya Plant - Arnhem, NL
ACC SYS ACCOYA® PLANT - ARNHEM, NL .) ) -_ ET 7, = c ir © Accsys Technologies, 2018 a, 16 sae tricoya >
Slide 17: Accoya Plant - Arnhem, NL
ACCSYS ACCOYA® PLANT - ARNHEM, NL | « Expansion complete - né new Giareboulses distribution centre, maintenance workshops, offices and R&D laboratory 1 Third reactor expected to produce first batches this month Increase capacity. by 50% to in excess of 60,000m? Ramp-up of production volumes over the
Slide 18: Tricoya Plant - Hull, UK
ACCSYS R ‘fl TRICOYA® PLANT - HULL, UK LD a : : Substantial progress with the construction * Construction of key structures progressing well - 90% of key equipment orders placed ¢ Building an operational team of approx. 30 staff ¢ On track for completion around mid calendar year 2019 * Two licence a
Slide 19: House of Heroes, SWE - Medite Tricoya Extreme Decorative Screens
a HOUSE OF HEROES, SWE -MEDITE® TRICOYA® EXTREME DECORATIVE SCREENS AeceN> iv ks ‘ | af i ras oe Mae wet <j ak = aceayal tricoya® |
Slide 20: Outlook
ACCSYS OUTLOOK Additional capacity - meet pent up and growing demand for Accoya® and Tricoya® ¢ Sales volumes expected to grow significantly in this financial year ¢ Start-up of the Hull Tricoya® plant around mid-2019 will provide further capacity to meet demand for Tricoya® and release Accoya® capa
Slide 21: Pompejus Tower, Accoya Cladding, Steps & Walkways
, a POMPEJUS TOWER, " COYA® CLADDING, STEPS & WALKWAYS. i h \ ’ ACCSYS | Vell ear
Slide 22: Contact Us
ACCSYS www.accsyspic.com Teewnacoates: Fre CONTACT US Accsys Accsys Accsys Brettenham House Building GE 5000 Quorum Drive 19 Lancaster Place Westervoortsedijk 73 #620 Dallas London WC2E 7EN 6827 AV Arnhem Texas 75254 United Kingdom The Netherlands USA The information contained within this document h