Christie Group plc · LSE:CTG
Christie — H1 2023 Earnings Presentation
21 slides from Christie's earnings presentation, 2023
Slide 1: Results Presentation – H1 FY23
RESULTS PRESENTATION – H1 FY23 A leader in the provision of professional and financial services to the hospitality, leisure, healthcare, medical, childcare and education and retail sectors, operating in the UK and Europe. We aim to be the recognized knowledge leader and pre-eminent advisor in our se
Slide 2: Introductions
INTRODUCTIONS Dan Prickett – Chief Executive Officer Simon Hawkins – Group Finance Director Dan is the Chief Executive Officer of Christie Group plc which is the Simon is responsible for financial and company accounting matters. holding company for the Group’s seven trading businesses. Dan joined Si
Slide 3: Group Headlines – H1 2023
GROUP HEADLINES – H1 2023 • Revenues down by 1.6% to £33.1m (2022: £33.7m), principally due to a decline in transactional volumes in our agency business • Operating loss of £1.4m (2022: £2.3m profit), as previously indicated • Employee costs up 8.0% to £25.2m (2022: £23.3m) and other operating expen
Slide 4: About Us
ABOUT US A leader in the provision of professional and financial services to the hospitality, leisure, healthcare, medical, childcare and education and retail sectors • Christie Group offers an extensive portfolio of professional services for the hospitality, leisure, healthcare, medical, childcare
Slide 5: Our Businesses
OUR BUSINESSES Complementary specialist services classified into two divisions CHRISTIEGROUP.COM 5
Slide 6: Our Services & Strategy
OUR SERVICES & STRATEGY We partner with our clients throughout their business life cycle to optimise and enhance value We exist to help our clients buy, operate, develop and sell their businesses We do this through supplying a range of demand services and joined-up solutions that they require, with
Slide 7: Our Areas of Expertise
OUR AREAS OF EXPERTISE We focus on a section of areas covering a wide range of property-based businesses in Hospitality, Leisure, Healthcare, Retail, Medical and Childcare & Education sectors Retail Medical Childcare & Hotels Public Houses Restaurants Leisure Healthcare Education Luxury hotels F
Slide 8: Our Opportunities & Aspirations
OUR OPPORTUNITIES & ASPIRATIONS • Existing access to a UK market of 250,000 small business • Return SISS division to profit through growth in all brands • In Europe we have ambitions to develop beyond a single- • Hospitality stock audit business remains below sector hospitality focus pre-pandemic si
Slide 9: PFS Division – H1 2023 Review
PFS DIVISION – H1 2023 REVIEW • Within Christie & Co, UK transactional brokerage fee income was down by 15% on H1 2022 levels • Team have remained busy on a number of portfolio assignments which have now seen exchanges occurring in H2 • Pipelines have recovered to levels similar to a year earlier an
Slide 10: SISS Division – H1 2023 Review
SISS DIVISION – H1 2023 REVIEW • Hospitality stocktaking business, Venners, has continued its positive post-Covid recovery and remains the UK’s largest hospitality stocktaker with nationwide coverage • Strong demand for its services with high levels of successful new business quotes • Improved recru
Slide 11: 2018 – 2023 Revenue by Division
2018 – 2023 REVENUE BY DIVISION PFS revenues 8% lower. Strong growth in SISS division but still recovery & further opportunities to go in order to get back to pre-pandemic levels CHRISTIEGROUP.COM 11
Slide 12: Operating Result by Half Year
OPERATING RESULT BY HALF YEAR 2023 impacted by the reduction & elongation in transactional volumes during H1 2023. Group anticipates an improved performance in H2 in line with traditional second-half weighting Operating profit/(loss) £7,000 £5.8m £6,000 £5.5m £5.2m £5,000 £4.1m 74% £4,000 65% 58% £3
Slide 13: Cash & Net Funds
CASH & NET FUNDS Movement June 23 v • Cash position at 30 June of £2.9m with 30-Jun-23 30-Jun-22 June 22 positive net funds of £1.9m £'000 £'000 £'000 • Repaid £1.0m CLBILS term loan during Cash & cash equivalent 3,646 8,565 (4,919) period & this CLBILS loan taken out in June 2020 now fully repaid.
Slide 14: Current Trading & Future Outlook
CURRENT TRADING & FUTURE OUTLOOK • We anticipate an improvement in transactional volumes by the end of Q3 and into Q4 based on current levels of activity and our pipelines of instructed work • Potential for some scheduled 2023 transactions to move into 2024, but exchanges on a number of portfolio as
Slide 15: Appendices
APPENDICES
Slide 16: Appendix 1 – Interim Dividend
APPENDIX 1 – INTERIM DIVIDEND CHRISTIEGROUP.COM 16
Slide 17: Appendix 2 - The Board
APPENDIX 2 - THE BOARD Simon Herrick– Interim Independent Non-executive Chairman Simon is Interim Independent Non-Executive Chairman. He chairs the Audit Committee and is also a member of the Nomination and Remuneration Committees. Simon has over 30 years’ experience in senior finance roles in multi
Slide 18: Appendix 3 - Major Shareholders
APPENDIX 3 - MAJOR SHAREHOLDERS Issued share capital 26,526,729 ordinary 2p shares Major shareholders Philip Gwyn 27.93% Mrs T C Rugg 4.76% Mr J P Rugg 6.00% Lord Lee of Trafford 4.80% Hwfa Gwyn 3.87% Katie Gwyn 3.87% Christina Bretten 3.82% Anna Ross 3.87% Andrew Muir 3.18% Shares not in public han
Slide 19: Appendix 4 - Consolidated Interim Income Statement
APPENDIX 4 - CONSOLIDATED INTERIM INCOME STATEMENT CHRISTIEGROUP.COM 19
Slide 20: Appendix 5 - Consolidated Interim Statement of Financial Position
APPENDIX 5 - CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION CHRISTIEGROUP.COM 20
Slide 21: Appendix 6 - Consolidated Interim Statement of Cashflows
APPENDIX 6 - CONSOLIDATED INTERIM STATEMENT OF CASHFLOWS CHRISTIEGROUP.COM 21