Sutton Harbour Group Plc · LSE:SUH
Sutton Harbour — H1 2016/17 Earnings Presentation
13 slides from Sutton Harbour's earnings presentation, December 2016
Slide 1: Interim results for six-month period ended 30 September 2016
Marine Operations and Waterfront Destination Specialist Interim results for six-month period ended 30 September 2016 December 2016 Graham Miller – Chairman Jason Schofield – Chief Executive Natasha Gadsdon – Finance Director
Slide 2: Sutton Harbour Holdings plc Key facts
Sutton Harbour Holdings plc Key facts • Marine Operations and Waterfront Net Asset Value H1 Revenue Destination Specialist £40.025m £3.633m - 543 berths in two marina locations - Plymouth Fisheries (2nd largest in England) - 391 public car park spaces - 144,533 sq ft of commercial investment H1 Adj.
Slide 3: First Half Year 2016/17 Financial Highlights
First Half Year 2016/17 Financial Highlights Financial Highlights 30 Sept 2016 30 Sept 2015 (Loss)/Profit before tax £0.038m £1.261m Profit before tax (excluding £0.232m £0.249m revaluation, impairments) 30 Sept 2016 31 Mar 2016 Net Assets £40.025m £40.869m Net Asset Value per share 41.6p 42.4p Net
Slide 4: Company strategy overview: Current priorities
Company strategy overview Current priorities • Strategic Review of Options - Ongoing process to identify options for best shareholder outcome • Realisation of development inventory - Preparation of comprehensive evidence base to prove benefits of alternative use of former airport site, ready for Exa
Slide 5: Interim results: Income statement
Interim results Income statement • Revenue Summary Income Statement 30 Sep 30 Sep 2016 2015 - Stable revenue performance £000 £000 • Impairment Revenue 3,633 3,674 - Relates to adoption of external JLL Cost of sales (2,120) (2,209) valuation of King Point Marina. Previously Impairment (553) - record
Slide 6: Interim results: Balance sheet
Interim results Balance sheet • Non current assets 30 Sept 30 Sept 31 March 2016 2015 2016 - Incorporating JLL valuation as at 30 £000 £000 £000 September 2016 Non-current assets 45,613 47,271 46,645 • Inventories Current assets - Primarily development land - Inventories 20,389 20,012 20,097 invento
Slide 7: Interim results: Cash position and banking
Interim results Cash position and banking • Highlights Net debt movement Lease Net Bank Total 6m to 30 Sept 2016 Financing Debt - Normal H1 trading cash cycle, as Opening net debt (£0.4m) (£21.8m) (£22.2m) marina fees received H2 Movement £0.1m (£0.6m) (£0.5m) • Banking Facility - £25.0m facility to
Slide 8: Interim results: Segmental performance
Interim results Segmental performance • Overall Revenue 30 Sept 30 Sept 2016 2015 - Stable performance, +3% growth in core £000 £000 trading gross profit Real Estate 808 778 • Real Estate Car Parking 296 279 - Reduced occupancy to 87.0%, but benefits Regeneration - - of recent new lettings coming th
Slide 9: Property and regeneration: The investment portfolio
Property and regeneration The investment portfolio • General Investment Portfolio at 30 Sept 31 March valuation £000 2016 2016 - General improvement reflecting recent lettings, lease terms and occupier North Quay House 3,300 3,425 covenant Barbican Market estate 3,825 3,825 • North Quay House Lockye
Slide 10: Property and regeneration: The owner-occupied portfolio
Property and regeneration The owner-occupied portfolio • Sutton Harbour Marina Owner occupied portfolio 30 Sept 31 Mar at valuation £000 2016 2016 ₋ Slower marina trading and valuation sentiment is reflected in -7% downgrade Owner Occupied Portfolio – at valuation • King Point Marina Marina at Sutto
Slide 11: Property and regeneration: Current project inventory
Property and regeneration Current project inventory • Sites around Sutton Harbour Project inventory 30 Sept 31 Mar 2016 2016 - ‘The Boardwalk’ site at Sutton Harbour £000 £000 has planning consent. Works to procure Sites around Sutton 8,184 8,104 marine statutory consents underway Harbour ₋ Sugar Ho
Slide 12: Summary
Summary • Debt Reduction - Focus on realisation of key inventory sites to reduce debt • Development Opportunities - Representations to secure planning allocations on development sites • Growth from core activities - Targeted infrastructure improvements and new marketing initiatives • Strategic Revie
Slide 13: Contact us
Contact us at: Tin Quay House, Sutton Harbour, Plymouth PL4 0RA Tel: 01752 204186 www.sutton-harbour.co.uk - Interim Presentation - 30 September 2016 13 -
Sutton Harbour Group — H1 2016/17 Earnings Presentation on 6ix