Airea Plc · LSE:AIEA
Airea — Shareholder Meeting (May 2024)
23 slides from Airea's shareholder meeting presentation, May 8, 2024
Slide 1: 70th AGM
70th AGM UK design-led specialist flooring company 8 May 2024
Slide 2: Chairman's statement
Chairman’s statement osaka® UK design-led specialist flooring company 2
Slide 3: Experienced Board of Directors
Experienced Board of Directors Martin Toogood Médéric Payne Conleth Campbell Tanya Ashton Independent Non-Executive Chief Executive Officer Chief Financial Officer Independent Non-Executive Chairman Director Martin joined the Group as an Médéric joined the Group on 25 Conleth joined the Group on 2 T
Slide 4: Business update
Business update Médéric Payne CEO osaka® UK design-led specialist flooring company 4
Slide 5: Key highlights for year ended December 2023
Key highlights for year ended 31 December 2023 Sales growth of 14.1% driven by volume and improved mix Record Burmatex® sales of £21.1m, growth in all key markets Operating profit before valuation gain increased by 9.2% to £1.8m £5.0m investment in facility to substantially increase capacity
Slide 6: Financial overview
Financial overview Conleth Campbell CFO osaka® UK design-led specialist flooring company 6
Slide 7: Financial highlights
Financial highlights Group revenue Operating profit before valuation gain Profit before tax £21.1m £1.8m £1.4m 14.1% 9.2% 0.0% Cash and cash equivalents Net cash Full-year dividend £5.8m £3.4m 0.55p 0.0% 21.4% 10.0% UK design-led specialist flooring company 7
Slide 8: A record sales performance for Burmatex
A record sales performance for Burmatex ® £m 2023 2022 % Change • Sales up 14.1%, record level for Burmatex® Sales 21.1 18.5 14.1 • Sales growth across all key markets Operating costs (19.8) (17.1) 15.8 • Growth driven by increase in demand for the Other operating income 0.5 0.3 66.7 more sustainabl
Slide 9: Cash flow – continued investment in business
Cash flow – continued investment in business £’000 2023 2022 EBITDA 2,550 2,250 Working capital (186) (143) • Continued investment in the business • Solar panels installed at cost of £0.8m Net capital expenditure (1,166) (235) • Ongoing investment in facility Operating cash flow 1,198 1,872 • Workin
Slide 10: Financing
Financing £m 2023 2022 Cash and cash equivalents 5.8 5.8 Coronavirus Business Interruption Loan (1.4) (1.9) Business loan (0.5) (0.7) Leased liabilities (0.5) (0.4) Net cash 3.4 2.8 • CBILS final payment May 2026 • Business loan final payment June 2026 • Uncommitted overdraft facility of £1.0m • Pen
Slide 11: Business overview and strategy
Business overview and strategy Médéric Payne CEO arctic ® UK design-led specialist flooring company 11
Slide 12: An introduction to our market leading brand
An introduction to our market leading brand British-made ISO 9001 Quality Broad customer flooring solutions Management and base including to create ISO 14001 architects, sustainable value Environmental specifiers and globally Management contractors systems - one of the UK’s leading designers and Eco
Slide 13: Sustainability principles - embedded across our business
Sustainability principles - embedded across our business We are committed to helping deliver a sustainable future because we believe that what we do matters. To help us deliver on this commitment, we have developed , our sustainability principles. Carbon Neutral Products Our Sustainability Principle
Slide 14: Competitive advantage – building a platform for success
Competitive advantage – building a platform for success Continued investment in innovation and new product development Strong working relationships with customers New channels of B2B being developed Unparalleled service reputation in market Long established brand In-house manufacturing w
Slide 15: Product development – innovative and sustainable solutions
Product development – innovative and sustainable solutions Aligning to the sustainability principles enables us to meet the needs of our customers. The development of new product ranges and the refresh of existing ranges is pivotal to our success. First carbon-neutral range product Worked closely wi
Slide 16: Driving transformational change
Driving transformational change Strategic review of entire product range Key product ranges refreshed Lead time to market reduced by five months Launch of carbon neutral products Refresh of low carbon products ISO14001 accreditation Shortlisted for three prestigious sustainability awar
Slide 17: Update on new investment
Update on new investment £5.0m investment in manufacturing facility underway Scheduled for completion in Q1 2025 Delivering significant increase in capacity Automation of certain processes using the latest cutting-edge Artificial Intelligence imagery and inspection technology Further enhan
Slide 18: Summary
Summary Established brand in a stable marketplace with high barriers to entry due to in-house manufacture, low-cost base and high service proposition Launch of sustainability principles eco2matters in 2022 to help drive the Group’s vision for the future Innovative and sustainably designed prod
Slide 19: Questions
Questions www.aireaplc.co.uk UK design-led specialist flooring company 19
Slide 20: Formal business
Formal business dapple® UK design-led specialist flooring company 20
Slide 21: Thank you for attending
Thank you for attending www.aireaplc.co.uk UK design-led specialist flooring company 21
Slide 22: Disclaimer
Disclaimer For the purposes of this document, the presentation that follows (the "Presentation") shall mean and include the slides that follow, any oral briefing provided by Airea plc (the "Company") in connection with these slides, any question and answer session that follows that oral presentation
Slide 23: www.aireaplc.co.uk
www.aireaplc.co.uk UK design-led specialist flooring company 23