Btg Consulting Plc · LSE:BTG
Btg Consulting — Begbies Traynor Group — H1 2022/23 Earnings Presentation
22 slides from Btg Consulting's earnings presentation, December 2022
Slide 1: Half year results presentation
Half year results presentation Ric Traynor – Executive Chairman Nick Taylor – Group Finance Director December 2022
Slide 2: Disclaimer
Disclaimer The information contained in this document (the “Presentation”) has been prepared by, and is the sole responsibility of, Begbies Traynor Group plc (the “Company”) and is for information purposes only. This Presentation has not been approved by an authorised person in accordance with Secti
Slide 3: A leading professional services consultancy
A leading professional services consultancy 2
Slide 4: Highlights - strong first half performance and confidence in full year outlook
Highlights - strong first half performance and confidence in full year outlook REVENUE • Double digit revenue and profit growth in both divisions £58.5m (+12%) (2021: £52.3m) • Building on consistent track record of growth ADJUSTED PROFIT BEFORE TAX • Continuing growth in business recovery and finan
Slide 5: Finance review
Finance review O Begbies Traynor Group
Slide 6: Financial highlights
Financial highlights 6 months to 6 months to 12 months to £m Oct 2022 Oct 2021 Apr 2022 Revenue 58.5 52.3 110.0 Adjusted EBITDA 11.9 11.1 24.0 Operating profit (before amortisation and transaction costs) 9.5 8.4 18.6 Operating margin 16.2% 16.0% 16.9% Adjusted profit before tax 9.0 8.0 17.8 Adjusted
Slide 7: Double digit growth from both divisions (1)
Double digit growth from both divisions (1) Revenue (£m) Operating profit (£m) 2022 2021 growth 2022 2021 growth Business recovery and financial advisory 42.4 38.7 10% 10.7 9.7 10% Property advisory and transactional services 16.1 13.6 18% 2.8 2.4 17% Shared and central costs - - - (4.0) (3.6) 10% T
Slide 8: Double digit growth from both divisions (2)
Double digit growth from both divisions (2) Revenue (£m) Operating profit (£m) 2022 2021 growth 2022 2021 growth Business recovery and financial advisory 42.4 38.7 10% 10.7 9.7 10% Property advisory and transactional services 16.1 13.6 18% 2.8 2.4 17% Shared and central costs - - - (4.0) (3.6) 10% T
Slide 9: Robust financial position maintained
Robust financial position maintained 6 months to 6 months to 12 months to £m Oct 2022 Oct 2021 Apr 2022 Adjusted EBITDA 11.9 11.1 24.0 Working capital (4.8) (3.5) (1.3) Cash from operating activities 7.1 7.6 22.7 Accelerated tax payment – previously guided change in due dates (1.0) - - Other payment
Slide 10: Full year outlook – confident of delivering market expectations
Full year outlook – confident of delivering market expectations • Business recovery - increased activity levels in largest service line • Order book increased by 15% to £33.9m in the six months • Higher level of enquiries and increasing economic headwinds • Confident of delivering growth through sec
Slide 11: Strategic and operating review
Strategic and operating review 10
Slide 12: Continuing momentum in recovery and restructuring
Continuing momentum in recovery and restructuring • Market leading insolvency practice • 14% share of overall market* – ranked first nationally • 10% share of administration market* – ranked second nationally • 92 appointment takers compared to 65 in 2020 * by volume • Well-positioned to deliver fur
Slide 13: UK insolvencies continue to increase
UK insolvencies continue to increase • Number of corporate insolvencies* increased to 20,731 in 12 months to 30 September 2022 • Reflects removal of Government support measures post-pandemic • 23% higher than comparable pre-pandemic period (2019: 16,836, 2020: 13,781, 2021: 12,492) • Increase largel
Slide 14: Further development of advisory services
Further development of advisory services • Advisory services of finance broking and corporate finance complement insolvency business • Finance broking - commercial and residential real estate, asset finance • Corporate finance - buy-side, sell-side and fundraising projects • Synergy of client base a
Slide 15: Resilient income streams drive strong property performance
Resilient income streams drive strong property performance • Professional services team performed well with good level of instructions • Provide real estate valuation services • Good book principally for lenders • Bad book for lenders and IPs, can also lead to transactional workflow • Activity level
Slide 16: Outlook
Outlook O Begbies Traynor Group 15
Slide 17: Outlook: well-positioned in a deteriorating economic environment
Outlook: well-positioned in a deteriorating economic environment • Confident of delivering on market expectations in current year • Group well-positioned in a deteriorating economic environment • 80% of income from insolvency and defensive activities • Strong balance sheet underpins continued invest
Slide 18: Strong track record of sustained growth
Strong track record of sustained growth 19 17
Slide 19: Questions
Questions O Begbies Traynor Group 18
Slide 20: Appendix
Appendix O Begbies Traynor Group 19
Slide 21: H2 analysts metrics
H2 analysts metrics • Profit expectations for the full year unchanged • H2 flow through of FY23 acquisitions: revenue £1.4m and costs £1.0m • Continued growth in insolvency income in H2 giving second half weighting to divisional income • Property expectations unchanged for full year - anticipate rev
Slide 22: Offices across the UK
Offices across the UK. www.begbies-traynorgroup.com Begbies Traynor Group plc; registered in England No: 5120043, registered office: 340 Deansgate, Manchester, M3 4LY, a member of the Begbies Traynor Group; Specialist Professional Services.
Begbies Traynor Group — H1 2022/23 Earnings Presentation on 6ix