Slide 1: Full Year Results: Year Ended 31 March 2023
Full Year Results: Year Ended 31 March 2023 Chief Executive : Stuart Munro Chief Financial Officer : Reuben Shamu
Slide 2: Group Highlights
Group Highlights • Revenue increased by 31% to £52.7m (2022: £40.3m). • Underlying pre-tax profit increased by 39% to £3.2m (2022: £2.3m). • Net cash flow from operating activities up 47% to £7.5m. • Strong balance sheet with cash up £3.2m to £12.8m (2022: £9.6m) and net debt improving by £4.1 milli
Slide 3: Trading Overview
Trading Overview 2023 2022 Change FIH group plc £’m £’m £’m Turnover 52.7 40.3 12.4 Underlying operating profit 4.0 3.1 0.9 Interest payable on bank loans (0.4) (0.4) - Lease finance & pensions charges (0.4) (0.4) - Underlying Financing costs (0.8) (0.8) - Underlying profit before tax 3.2 2.3 0.9 No
Slide 4: Split by Business
Split by Business: 2023 2022 Change FIH group plc £’m £’m £’m FIC 29.4 21.6 7.8 PHFC 3.8 3.1 0.7 Momart 19.5 15.6 3.9 Turnover 52.7 40.3 12.4 FIC 1.9 1.8 0.1 PHFC 0.3 (0.1) 0.4 Momart 1.0 0.6 0.4 Underlying profit before tax 3.2 2.3 0.9 Non-trading items* 0.8 0.4 0.4 Profit before tax * 4.0 2.7 1.3
Slide 5: Falkland Islands Company (FIC)
Falkland Islands Company (FIC) 5
Slide 6: FIC Trading Overview
ty} FIC Trading Overview = 2028 2022 Change £'m £'m £'m Retail 9.9 97 0.2 Falklands 4x4 3.1 2.8 0.3 FBS (housing and construction) 12.1 5.8 6.3 Support services 3.3 2.5 0.8 Property rental 1.0 0.8 0.2 Total revenue 29.4 21.6 7.8 Underlying operating profit 2 1.9 0.1 Defined benefit pension - finance
Slide 7: FIC Trading Overview
FIC Trading Overview • Total revenue of £29.4m up 36% (2022: £21.6m ). • FBS up £6.3m driven by £17.3m housing contract for FIG and MOD. • Support Services up £0.8m due mainly to Penguin Travel due to arrival of tourists. • Retail sales slightly ahead of prior year with strong tourist sales offsetti
Slide 8: Momart
ry Momart
Slide 9: Momart: Trading Overview
Momart : Trading Overview 2023 2022 Change Momart £’m £’m £’m Museum Exhibitions 9.5 7.4 2.1 Gallery Services 7.3 5.8 1.5 Storage 2.7 2.4 0.3 Total revenue 19.5 15.6 3.9 Underlying operating profit 1.4 1.0 0.4 Finance expense (0.4) (0.4) - Underlying profit before tax 1.0 0.6 0.4 9
Slide 10: Momart Trading Overview
Momart Trading Overview • Revenue of £19.5m increased by 25% with improvements across all sectors. • Strong growth in Museum Exhibitions which is still recovering from Covid-19. • Significant progress in Gallery Services from both existing and new clients. • Improvement in Storage driven by improved
Slide 11: Gosport Ferry
Gosport Ferry 11
Slide 12: Gosport Ferry: Trading Overview
Gosport Ferry : Trading Overview 12
Slide 13: Gosport Ferry Trading Overview
Gosport Ferry Trading Overview • 99.8% service reliability. • Passenger numbers increased by 15% to 2.0m. • Overall passenger volume for the year at 80% of pre-pandemic levels (2022: 70%). • Revenue increased by 23% to £3.8m including inflation-mitigating fare rises. • Underlying pre-tax profit of £
Slide 14: Trading Outlook and Strategy
Trading Outlook and Strategy
Slide 15: Trading Outlook
Trading Outlook • FIC • Return of tourism to the Falkland islands should continue to boost direct and indirect revenues which mitigates the challenges of the global economic crisis. • A strong order book in FBS and potential for new contracts with MOD and FIG bodes well for the future. • Momart • Th
Slide 16: Strategy
Strategy • Build current businesses back to and beyond pre-COVID position. • Improved results demonstrate progress. • More to be done • Invest in developing existing businesses. • Capitalise on Government and MOD work and maximise use of land assets in the Falkland Islands. • Monitor potential oppor
Slide 17: Appendices
Appendices Cash Flow, Balance Sheet, Net Borrowings & Liquidity, Non-trading items
Slide 18: Cash flow - for the year ended 31 March
Cash flow - for the year ended 31 March 2023 2022 FIH group plc £’m £’m Underlying profit before tax 3.2 2.3 Depreciation and amortisation 2.6 2.4 Gain on disposal of fixed asset (0.3) - Net interest 0.8 0.8 Underlying EBITDA 6.3 5.5 Non-trading, cash items (0.1) - Movement in hire purchase debtors
Slide 19: Balance sheet
Balance sheet 2023 2022 2021 FIH group plc £'m £'m £'m Tangible fixed assets 38.7 39.1 40.3 Investment properties at net book value 7.9 8.2 7.1 Goodwill & intangibles 4.4 4.2 4.2 Deferred tax, joint venture & hire purchase > 1 year 1.4 1.7 1.7 Derivative financial instruments 1.6 0.6 - Total non cur
Slide 20: Borrowings, Cash & Liquidity
Borrowings, Cash & Liquidity 2023 2022 Change FIH group plc £'m £'m £'m Bank loans due within 1 year (1.0) (1.0) - Bank loans due after 1 year (12.3) (13.2) 0.9 Total bank borrowings * (13.3) (14.2) 0.9 Cash 12.8 9.6 3.2 Net debt (0.5) (4.6) 4.1 Lease liabilities due within 1 year (0.6) (0.6) 0.0 Le
Slide 21: Non-trading items
Non-trading items 2023 2022* Change Non-trading items £’m £’m £’m Movement in fair value of non-effective portion of 0.9 0.7 0.2 derivative financial instruments Restructuring costs (0.1) (0.3) 0.2 Total 0.8 0.4 0.4 * Prior year amounts relating to profit before tax were restated following a reasses