Alumasc Group Plc · LSE:ALU
Alumasc — The Alumasc Group — H1 2016/17 Earnings Presentation
20 slides from Alumasc's earnings presentation, February 2017
Slide 1: Interim Results to 31 December 2016
The Alumasc Group plc Interim Results to 31 December 2016
Slide 2: Contents
Contents 01 02 Overview Strategic Development 03 04 Financial Review Operational Review 05 Outlook Paul Hooper Chief Executive Alumasc Facades – Park Road Flats, West Lothian Andrew Magson Finance Director
Slide 3: Overview
01 Overview Levolux – St George’s Island
Slide 4: Overview
Overview Alumasc’s fifth consecutive first half year of earnings growth Order books of £27.6m continue to be at close to record levels ● Group revenues up by 17% to £50.7m (2015 : £43.5m) – UK revenues up by 9% vs UK construction market growth of 1% – Export revenues almost doubled to £7.5m – Underl
Slide 5: Strategic Development
02 Strategic Development Levolux – European Space Agency, Harwell
Slide 6: Strategic Development
Strategic Development We are seeking to accelerate profitable growth through continued revenue outperformance and focus on margin improvement: 1. Revenue growth ahead of market growth − UK construction market outperformance through strategic positioning of the business (energy & water management, be
Slide 7: Financial Review
03 Financial Review Timloc Building Products – Eaves Vent Pack
Slide 8: Income Statement Summary (£m)
Income Statement Summary (£m) 6 months to 31 December 2016 2015 Change £m £m % Revenue 50.7 43.5 +17 Gross Profit 15.8 14.6 +9 Underlying Operating Profit 4.1 4.1 - Interest on borrowings - (0.1) Underlying PBT 4.1 4.0 +2 IAS19 pension costs / brand amortisation* (0.5) (0.6) PBT 3.6 3.4 +6 Underlyin
Slide 9: Cash Flow Summary (£m)
Cash Flow Summary (£m) 6 months to 31 December 2016 2015 Change £m £m £m EBITDA 4.8 4.6 0.2 Underlying change in working capital (3.5) (1.4) (2.1) Short-term changes in working capital on large construction contracts (1.0) 0.7 (1.7) Operating cash flow 0.3 3.9 (3.6) Capital expenditure (0.5) (0.7) 0
Slide 10: Balance Sheet Summary (£m)
Balance Sheet Summary (£m) at 31 December 31 Dec 2016 30 June 2016 31 Dec 2015 £m £m £m Property, plant & equipment 5.2 5.3 5.3 Intangible assets 18.9 19.1 19.3 Working capital 8.0 4.0 6.8 Other net liabilities (1.6) (1.8) (1.6) Capital invested 30.5 26.6 29.8 Discontinued operation: Dyson Diecastin
Slide 11: Segmental Analysis of Results
Segmental Analysis of Results 6 months to 31 December Underlying Underlying Operating Operating Underlying Revenue Profit (1) Revenue Profit (1) Operating Margin 2016 2016 2015 2015 2016 2015 £m £m £m £m % % Solar Shading & Screening 11.1 0.6 7.6 0.5 5.7 6.1 Roofing & Walling 20.9 1.6 18.4 1.7 7.8 9
Slide 12: Operational Review
04 Operational Review Rainclear – Aluminium Rainwater System
Slide 13: Solar Shading & Screening
Solar Shading & Screening Nature of business Growth drivers Opportunities • Bespoke louvres and blinds to shade/screen buildings • Energy management/building regulations • Further international development and penetration and provide unique architectural features • Increasing demand for bespoke arch
Slide 14: Roofing & Walling
Roofing & Walling Nature of business Growth drivers Opportunities • Premium waterproofing systems for flat roofs (inc. Green • Water and energy management • Roofing – market share via new products/sales coverage & Blu roofs) • Off-site construction • Roofing – cross-selling including “Rain to Drain”
Slide 15: Water Management
Water Management Nature of business Growth drivers Opportunities • Metal rainwater drainage systems • Water and flood management • New products and range expansion • Civil and building drainage systems • Bespoke solutions/manufacturing capability • Inter-group synergies (“Rain to Drain”) • Engineere
Slide 16: Housebuilding & Ancillary Products
Housebuilding & Ancillary Products Nature of business Growth drivers Opportunities • Premium housebuilding products (e.g. ventilation • UK house building demand • Market share gain through expanded range of products products, cavity wall products, access panels, loft doors, • Product range extension
Slide 17: Outlook
05 Outlook Alumasc Water Management Solutions – Duke Street, London W1
Slide 18: Order Book Development by Operating Segment (£m)
Order Book Development by Operating Segment (£m) Close to record building product order books 18 www.alumasc.co.uk
Slide 19: Outlook
Outlook H2 2016/17: • The majority of the order book relates to construction contracts at Levolux mainly due to complete in 2016/17, which we expect will benefit H2 profit recognition & margin • Elsewhere we expect the group’s positive trading momentum to continue in H2 • Therefore the Board’s expec
Slide 20: Thank you
Thank you www.alumasc.co.uk