13 slides from Chesterfield Special Cylinders's earnings presentation, Dec 3, 2013
Slide 1: Preliminary Results Presentation
Preliminary Results Presentation Year Ended 28 September 2013 Presented by John Hayward, CEO, and James Lister, FD
Slide 2: Highlights
Highlights Delivering results Revenue £34.4 million +13% Operating profit £2.9 million +63% Operating cash flow £3.0 million +£1.1 million EPS (basic) 19.4p +73% Dividend 7.8p +4% Growth led by Cylinder and Engineered Products divisions Breakthrough for Alternative Energy as CBG wins major orders fo
Slide 3: A balanced group
A balanced group Engineered Products Cylinders Alternative Energy Revenue £16.0m +13% Revenue £17.3m +6% Revenue £1.1m up £0.9m Op profit £1.6m +60% Op profit £3.6m +56% Op loss £0.5m unchanged Designing products and services to satisfy specific customer needs in: Oil and Gas Defence Industrial Gase
Slide 4: Sales increased by 13%
Sales increased by 13% 34.4 £m 30.4 0.9 1.1 0.6 2.1 0.2 1.6 Delivery of one Alternative Energy biogas upgrader No major ground Growth driven by (none in the Recovery in storage projects the sub-sea tree corresponding deepwater oil rig and lower trailer market at Al-Met period) and drillship market a
Slide 5: Operating profit increased by 63%
Operating profit increased by 63% 2012 2013 £m £m £m Cylinders 2.3 3.6 0.2 Engineered Products 1.0 1.6 0.6 0.6 Alternative Energy (0.5) (0.5) Acquisition evaluation 1.3 and amortisation costs (0.2) (0.4) Unallocated central costs (0.8) (1.4) 2.9 Operating profit 1.8 2.9 1.8 5
Slide 6: Strong balance sheet
Strong balance sheet 29 Sep 28 Sep 2012 2013 £m £m Intangible assets 3.4 3.2 Fixed assets 4.7 4.8 Inventories 6.9 7.2 Receivables 7.4 8.9 Payables (8.3) (9.8) Working capital 6.0 6.3 Tax provisions (0.7) (0.8) Net funds 2.7 4.0 Net assets 16.1 17.5 6
Slide 7: Operating cash flow £3.0 million
Operating cash flow £3.0 million £m Operating cash flow £3.0m (2012: £1.9m) 0.2 Increased 0.8 working capital to 2013 support 0.6 closing increased Capital net expenditure 0.2 funds activity 4.0 Tax paid 0.9 Acquisition evaluation 2013 costs opening net Dividends funds paid Group EBITDA 4.0 2.7 7
Slide 8: Summary results
Summary results 29 Sep 28 Sep 2012 2013 Sales (£m) 30.4 34.4 +13% Operating profit (£m) 1.8 2.9 +63% PBT (£m) 1.8 2.9 +62% EPS basic (pence) 11.2 19.4p +73% EPS adjusted (pence) 12.5 22.6p +81% Dividend (pence) 7.5 7.8p +4% Operating cash flow (£m) 1.9 3.0 Net funds (£m) 2.7 4.0 8
Slide 9: Oil and gas market driving Cylinders
Oil and gas market driving Cylinders Revenue £17.3 million +6% Operating profit £3.6 million +56% Strong demand for deep water oil & gas platforms Orders ahead of same period last year Price reductions conceded for 2014 to maintain market share Continued growth of in-situ re-test also leading to add
Slide 10: ……. and Engineered Products
……. and Engineered Products Revenue £16.0 million +13% Operating profit £1.6 million +60% Strong sales and profit growth at Al-Met Record sales arising from increased demand in the deep water oil and gas market Major customers reporting record order books Focus on On Time In Full (OTIF) taking marke
Slide 11: Breakthrough in Alternative Energy
Breakthrough in Alternative Energy Revenue £1.1 million +0.9 million Operating loss £0.5 million No change Second upgrader project, Stockport, delivered in October 2012 Two orders received for delivery in 2014 - value £4.6 million Strong pipeline with blue chip customers gives possibility of additio
Slide 12: Outlook
Outlook Great markets Continued growth in oil and gas market High added value opportunities in defence Alternative energy set for rapid growth Great products Strong demand for core products Development programme of next generation products Development of high added value services Great business Dive
Slide 13: Disclaimer
Disclaimer This presentation has been prepared by Pressure Technologies plc (the "Company“ or “Pressure Technology”) 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 or