17 slides from Chesterfield Special Cylinders's earnings presentation, Jun 15, 2021
Slide 1: Interim Results 2021
Interim Results 2021 Chris Walters, Chief Executive | James Locking, CFO
Slide 2: Disclaimer
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - INTERIM RESULTS 2021 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 i
Slide 3: Group Highlights
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - INTERIM RESULTS 2021 Group Highlights INTERIM RESULTS ■ Overall Group revenue of £14.5 million (2020: £13.9 million) and adjusted operating profit* of £1.1 million * Adjusted operating profit is (2020: £0.1 million adjusted operating loss) operating pr
Slide 4: Group Financial Results
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - INTERIM RESULTS 2021 Group Financial Results Revenue 4% increase Gross profit £14.5m £4.7m (2020: £13.9m) (2020: £4.0m) Adjusted operating profit* Profit before taxation £1.1m £0.2m (2020: £0.1m adjusted (2020: £1.5m loss before operating loss) taxation
Slide 5: Summary Profit & Loss
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - INTERIM RESULTS 2021 Summary Profit & Loss H121 H120 FY20 Revenue (£m) 14.5 13.9 25.4 Adjusted operating profit for the period reflects the revenue mix in Precision Machined Components Division 3.2 7.6 14.2 CSC and weak PMC operational performance in th
Slide 6: Summary Balance Sheet
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - INTERIM RESULTS 2021 Summary Balance Sheet H121 FY20 H120 Strategic investment in facilities £m £m £m and equipment at CSC and maintenance expenditure at PMC Goodwill & Intangible Assets 0.2 0.3 15.2 continued in the period, with additions matching d
Slide 7: Net Cash/(Debt) - leverage considerably reduced
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - INTERIM RESULTS 2021 Net Cash/(Debt) - leverage considerably reduced Net cash/(debt) £m Cash and Cash 8.6 Equivalents Bank Borrowings (4.8) Net operating cash flow Asset finance leases (2.8) Right of use asset leases (0.8) Net cash - 3 April 2021 0.2
Slide 8: Banking facilities
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - INTERIM RESULTS 2021 Banking facilities REVISED BANK FACILITY - MARCH 2021 ■ Facility: ○ £7.0 million to Sep 2021 (reduced on property disposals) ○ £6.0 million to Nov 2022 (end of facility term) ■ Financial covenant tests: ○ Leverage: Net Debt to Ad
Slide 9: Chesterfield Special Cylinders - Financial Results
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - INTERIM RESULTS 2021 Chesterfield Special Cylinders - Financial Results Revenue 80% up Gross profit £11.3m £4.6m (2020: £6.3m) (2020: £2.1m) Adjusted operating Gross profit margin profit* £3.0m 41% (2020: £0.4m) (2020: 33%) Return on revenue Headcount at
Slide 10: Chesterfield Special Cylinders
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - INTERIM RESULTS 2021 Chesterfield Special Cylinders Good performance in the first half across defence, industrial (including nuclear) and hydrogen energy markets. Extended Covid-19 restrictions, project delays and late material deliveries have affected
Slide 11: Hydrogen storage solutions for a growing customer base
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - INTERIM RESULTS 2021 Hydrogen storage solutions for a growing customer base New orders and customers are being realised, as we see proof of concept projects replaced by more standardised solutions for car, bus and mixed-use Hydrogen Refuelling Statio
Slide 12: Hydrogen market opportunities are developing as expected
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - INTERIM RESULTS 2021 Hydrogen market opportunities are developing as expected Hydrogen refuelling stations (HRS) will be commissioned at an increasing rate, especially across heavy duty applications. Projects supporting decarbonisation of industrial
Slide 13: CSC investment for growth in European HRS market is on plan
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - INTERIM RESULTS 2021 CSC investment for growth in European HRS market is on plan Investment in people and production facilities at the Sheffield site has commenced in line with plans set out during the December 2020 fundraise. This will significantly in
Slide 14: Precision Machined Components - Financial Results
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - INTERIM RESULTS 2021 Precision Machined Components - Financial Results Revenue 58% down Gross profit £3.2m £0.1m (2020: £7.6m) (2020: £1.9m) Adjusted operating loss* Gross profit margin £1.0m 3% (2020: £0.3m adjusted (2020: 25%) operating profit) Return
Slide 15: Precision Machined Components
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - INTERIM RESULTS 2021 Precision Machined Components We are encouraged by recent order intake levels, new customer acquisitions and pipeline development, alongside new strategic supply agreements, but we remain cautious regarding the pace of recovery i
Slide 16: Summary & Outlook
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - INTERIM RESULTS 2021 Summary & Outlook ■ The Group's strategy remains focused on the continued development and growth of both divisions and the Board is pleased with the progress being made ■ Strong performance in the first half of the year was driven
Slide 17: Keep up to date with our news
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - INTERIM RESULTS 2021 Keep up to date with our news Please join us on LinkedIn https://www.linkedin.com/company/17971399/ And keep up to date with news from around the Group http://www.pressuretechnologies.com/news Contact us PressureTechnologies@hous