22 slides from Chesterfield Special Cylinders's earnings presentation, Jan 30, 2024
Slide 1: Investor Presentation FY23 Final Results
Investor Presentation FY23 Final Results Chris Walters, Chief Executive Steve Hammell, CFO 30 Jan ‘24 1
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Pressure Technologies plc (the “Company“ or “Pressure Technologies”) solely in connection with providing information on the Company and to certain institutional and professional investors in the United Kingdom. This presentation does not constitute o
Slide 3: Agenda
Agenda • Group Highlights • Group Financial Results • CSC Division - Highlights • PMC Division - Highlights • Shareholder Value Focus • CSC - Defence & Hydrogen • Outlook 3
Slide 4: Group Highlights
Group Highlights • FY23 has been a year of significant progress for the Group with market conditions and order intake improving considerably, facilitating a return to profitability in both divisions • Group revenue in FY23 of £32.0m (FY22: £24.9m) up 29% • Gross profit of £8.9m at 28% margin (FY22:
Slide 5: Group Financial Results - Profit & Loss
Group Financial Results - Profit & Loss FY23 FY22 H1 FY23 £m £m £m Revenue 32.0 24.9 13.8 Chesterfield Special Cylinders 20.7 17.6 8.8 Precision Machined Components 11.3 7.3 4.9 Gross Profit 8.9 5.3 3.7 Adjusted EBITDA 2.1 (0.9) 0.3 Chesterfield Special Cylinders 3.9 1.1 1.1 Precision Machined Compo
Slide 6: Group Financial Results - Balance Sheet & Net Debt
Group Financial Results - Balance Sheet & Net Debt FY23 FY22 H1 23 • Loss after tax in FY23 of £0.7m £m £m £m • Equity issue in Dec ‘22 raised £2.1m (net) Tangible Fixed Assets 9.5 10.3 10.1 • Net Assets increased by £1.5m in the year Right of Use Assets (“ROUA”) 0.8 0.9 0.9 • Net Debt reduced from
Slide 7: CSC Division - Highlights
CSC Division - Highlights • Revenue in FY23 of £20.7m (FY22: £17.6m) up 18% • Driven by defence contracts in the second half underpinning improved gross margins • Defence revenue of £17.2m (FY22: £13.5m) reflecting strong order book and new contract placements for UK and overseas new build programme
Slide 8: CSC Division - Highlights
CSC Division - Highlights • EBITDA of £3.9m (FY22: £1.1m) at 19% margin (FY22: 6%) • Order intake strengthened in FY23 to £24.6m (FY22: £15.7m) • Order book of £11.0m at Dec ‘23 (Dec ‘22: £7.0m), providing good visibility into FY24 • Enquiry levels for Integrity Management services increased sharply
Slide 9: PMC Division - Highlights
PMC Division - Highlights • Strong recovery in oil and gas markets in FY23 • Major customers continue to report increased activity levels in FY24 • Revenue in FY23 of £11.3m (FY22: £7.3m) up 55%, supporting a return to EBITDA profit of £0.1m (FY22: loss of £0.3m) • Order intake strengthened signific
Slide 10: Shareholder Value Focus
Shareholder Value Focus • Focused on delivery of shareholder value against the backdrop of improving market conditions • Well positioned as a trusted, world-leading manufacturer serving growing, safety-critical markets • Improving operational performance in capacity and efficiency • Prioritising the
Slide 11: CSC - Long-term opportunities in UK & global defence markets
CSC - Long-term opportunities in UK & global defence markets 2022 2050 • New build revenue U.K. opportunity of £100m- 2022 2030 £150m over next 15 years France 2022 2042 U.K. • Major programmes include: 2022 Columbia 2042 U.S. • AUKUS £32m 2028 SSNAUKUS 2048 • France £24m AUKUS • US £19m 2026 Triomp
Slide 12: CSC - Increasingly exciting outlook for hydrogen
CSC - Increasingly exciting outlook for hydrogen UK & EUROPEAN MOBILITY PROJECTS (BUS, MEDIUM/HEAVY DUTY TRUCK, LOGISTICS, TRAIN) • Hydrogen refuelling station (HRS) manufacturers are increasing output to meet growing demand for mobility projects in the UK, Europe, Australia and Americas. 2025 2030
Slide 13: Outlook
Outlook • During FY24, CSC expects to pass the peak of activity on current high-value defence contract milestones and will seek to rebalance its revenue profile across global defence programmes and the hydrogen energy market, with each of these markets presenting significant opportunities over the m
Slide 14: About Us
About Us AL Pressure | “4T Technologies
Slide 15: Our Company Values
Our Company Values We put We innovate & We work We deliver to the people first create the future together highest standard 15
Slide 16: Introduction to Pressure Technologies
Introduction to Pressure Technologies Our Purpose Our Vision Our Purpose is to advance safety Our Vision is to build a Company and reliability in demanding that is globally recognised within its markets as the leading environments through technology, provider of pressure containment high quality eng
Slide 17: Our Group
Our Group We are leaders in the design and manufacture of safety-critical components and systems serving global supply chains in defence, oil and gas, industrial and hydrogen energy markets [\\\\ chesterfieta Precision Machined Components (PMC) Martract Roota ( al-met + Established in 1897 + Safety-
Slide 18: Chesterfield Special Cylinders
Chesterfield Special Cylinders 18
Slide 19: What makes us unique?
What makes us unique? 125 years in Trusted by One stop shop the making our customers We design, manufacture and maintain world-leading Decades of design, manufacturing Very strong presence in the bespoke pressure gas and supply to worldwide markets hydrogen market in Europe and containment solutions
Slide 20: Group Revenue FY23 £32m
1.Chesterfield Special Cylinders and Pressure Technologies Head Office Employees 125 Property Meadowhall Road, Sheffield Specialisms High pressure gas containment cylinders and in-situ inspection and 2. Roota Engineering recertification Group Revenue Employees 36 FY23 Property Specialisms Rotherham
Slide 21: Fuelling hydrogen storage for over 80 years
Fuelling hydrogen storage for over 80 years Engaged with the world’s leading hydrogen Proven track ● sector players record for the ● Provided Type 1 pressure vessels for many HRSs, cylinders/tubes for commercial vehicles, delivery of trains and small marine vessels many hydrogen ● In excess of 20 pr
Slide 22: Our ground & transportable end-end H2 gas storage solutions
Our ground & transportable end-end H2 gas storage solutions 22