Slide 1: Mpac Group plc 2024 Half Year Results
Mpac Group plc 2024 Half Year Results September 2024 Smart thinking, innovative solutions We create faster, more efficient automation and packaging systems
Slide 2: Agenda
Agenda 3 About Mpac 11 Financials 16 Ambition & Strategy 21 Summary & Outlook 23 Appendices 2 Mpac Group plc 2024 Half Year Results
Slide 3: About Mpac
About Mpac 3 Mpac Group plc 2024 Half Year Results
Slide 4: Who we are and what we do
Who we are and what we do The Group is on track to deliver on The sound foundations and its full year forecast. Half year momentum established in 2023 highlights include a 14% revenue have continued into H1 2024 and I increase resulting in an additional am pleased to be able to report £3m of pre-tax
Slide 5: Mpac: Creating & servicing superior automation and packaging machines globally
Mpac: Creating & servicing superior automation and packaging machines globally Tadcaster H1 2024 Sales by Sector (%) (UK) Wijchen Mississauga 215 people (NL) (CA) 6,500 m2 213 people 118 people 4,700 m2 Food & Beverage 4,500 m2 36% Cleveland Singapore Healthcare (US) (SG) £60.0m 31% 50 people 14 peo
Slide 6: Mpac: A business model which wins and retains customers
Mpac: A business model which wins and retains customers “We channel limitless ingenuity to create and optimise whole line manufacturing ecosystems. With many parts, in many countries, our world-class productivity helps our clients achieve more with less.” Consult Early customer engagement and buy-in
Slide 7: Mpac: Operating in highly attractive markets with significant growth opportunities
Mpac: Operating in highly attractive markets with significant growth opportunities Attractive Market Growth Opportunities Product category Solutions Market value Huge Significant opportunities addressable for growth market > Personal healthcare Packaging Machinery > Contact lens $49.7bn* > Point of
Slide 8: Mpac: An attractive investment proposition
Mpac: An attractive investment proposition to achieve a 5 year growth strategy Growth opportunities High quality earnings > F&B and Healthcare markets offer compelling growth opportunities > Sustained growth in high margin recurring service business > Exciting opportunities in Clean Energy market >
Slide 9: Mpac: Successfully broadening our strategic key accounts
Mpac: Successfully broadening our strategic key accounts 58 OE orders won with 28 different customers >30% By value, >30% OE orders won with new customers £10.7m New customers included orders from 4 new strategic accounts 9 Mpac Group plc 2023 Full Year Results
Slide 10: Case study: Unilever
“Unilever trusted Mpac to provide a proven solution around their ever Case study: Unilever expanding stick pack production in their Jefferson City, MO facility. We collaborated collectively with Unilever and their engineering firm to provide Unilever approached Mpac for a flexible a best in class so
Slide 11: H1 2024 results
H1 2024 results 11 Mpac Group plc 2024 Half Year Results
Slide 12: Financial review: 2024 half year highlights
Financial review: 2024 half year highlights £59.7m £71.4m £60.0m 28.2% Order intake Order book Revenue Gross profit margin -4.3% (H1 2023: £62.4m) -1.5% (FY 2023: £72.5m) +13.6% (H1 2023: £52.8m) +4.3% (H1 2023: 23.9%) £4.0m 15.2p 18.1% £22.4m Underlying profit before tax Underlying EPS Return on Ca
Slide 13: Financial review: Group income statement (£m)
Financial review: Group income statement (£m) For the period to 30 June 2024 OE revenue (£m) Service revenue (£m) 31.8 82.4 74.1 74.6 64.1 23.1 16.5 44.9 19.6 20.2 34.8 40.1 37.0 12.3 9.9 10.0 44.6 15.3 15.4 39.8 37.5 34.0 27.1 9.7 10.2 10.8 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 H1 H2 30
Slide 14: Financial review: Balance sheet
Financial review: Balance sheet For the period to 30 June 2024 Commentary 30.06.2024 31.12.2023 (£m) (£m) Change > Non-current assets include £23.3m of Intangible Non-current assets 68.1 67.9 0.3% assets, £10.9m of Tangible fixed assets, £33.0m of Pension assets and a £0.9m Deferred tax asset Invent
Slide 15: Financial review: 2024 half year cash bridge (£m)
Financial review: 2024 half year cash bridge (£m) For the period to 30 June 2024 Commentary > 2024 delivered greater productivity and revenue than in 2023, along with a slight reduction in order intake, the timing of which resulted in an increase in working capital movements > £20m borrowing facilit
Slide 16: Ambition and Strategy
Ambition and Strategy 16 Mpac Group plc 2024 Half Year Results
Slide 17: Mpac: Five year ambition (2023-2027)
Mpac: Five year ambition (2023-2027) Double Revenue Acquisitive Clean Energy >10% annual >10% Operating Operational People Growth Opportunity Organic Growth Returns Excellence Scale-up Excellent customer High quality, Fuller line Retain and Double right-first-time offering broaden service securing t
Slide 18: Mpac: Progress on Group strategy 2024
Mpac: Progress on Group strategy 2024 Going for growth Outstanding customer service > Good progress building on the customer relationships developed > Consistent Service revenue performance, now 26% of Group last year revenue > 4 new and consolidated key customer relationships in target > Soft relau
Slide 19: Case study: Langen OSTRO
“Introducing the Langen OSTRO. The system is enabled with our Case study: Langen OSTRO Intelligent Machine Interface and Cube Connect digital platform to support high productivity and represents the perfect balance of OSTRO is a continuous motion cartoner advanced functionality and practical design.
Slide 20: Case study: Cube Connect
Case study: Cube Connect Downtime reasons Automatic machine notifications when problems occur or milestones are hit. Machine reports on the root cause of downtime allowing the user to address issues and improve performance Overall equipment Sustainability effectiveness monitoring Maximise our machin
Slide 21: Summary & Outlook
Summary & Outlook 21 Mpac Group plc 2024 Half Year Results
Slide 22: Summary 2024 and outlook
Summary 2024 and outlook 2024 half year highlights > Strong financial performance, with underlying profit before tax significantly above the prior half year > Improving gross and operating margins > Strong revenue growth, supported by the opening OE order book and H1 2024 order intake > Good progres
Slide 23: Appendices
Appendices 23 Mpac Group plc 2024 Half Year Results
Slide 24: Financial review: Group income statement
Financial review: Group income statement For the period to 30 June 2024 H1 2024 H1 2023 (£m) (£m) Change Commentary Revenue 60.0 52.8 13.6% > OE revenue growth driven by the Consumer Goods (Other) sector across the EMEA & Americas regions – Original Equipment 44.6 37.5 18.9% > Service revenue was br
Slide 25: Financial review: Group balance sheet (£m)
Financial review: Group balance sheet (£m) For the period to 30 June 2024 Inventory (£m) Working Capital (£m) 80.0 70.2 70.0 68.5 68.1 67.9 64.0 60.0 11.1 11.6 10.2 22.4 9.6 16.9 40.0 13.2 9.6 20.0 15.8 15.1 FY22 HY23 FY23 HY24 FY22 HY23 FY23 HY24 - Net pension asset (£m) Net Current Assets (£m) -20
Slide 26: 2024 pension scheme
2024 pension scheme UK Pension Scheme – IAS19 surplus UK scheme (£m) 450.0 > Accounting surplus £33.0m (FY 2023: £32.2m) 400.0 > Scheme surplus remained stable in 2024, reflecting the scheme’s derisking, with the company contributions driving the modest increase in the surplus 350.0 300.0 > Liabilit
Slide 27: Appendices: Summary share register
Appendices: Summary share register For the period to 30 June 2024 30 June 2024 Schroder Investment Management 3,580,000 Hargreaves Lansdown, stockbrokers (EO) 2,188,362 Interactive Investor (EO) 2,148,918 Oury Family 1,082,000 Barclays Smart Investor (EO) 741,654 Charles Stanley 738,062 AJ Bell, Sto
Slide 28: We create faster, more efficient automated packaging systems
Mpac Group plc Station Estate Station Road Tadcaster North Yorkshire LS24 9SG Tel: +44 (0)2476 421100 Email: ho@mpac-group.com mpac-group.com We create faster, more efficient automated packaging systems