Slide 1: Full Year Results: Year Ended 31 March 2024
Full Year Results: Year Ended 31 March 2024 Chief Executive : Stuart Munro Chief Financial Officer : Reuben Shamu
Slide 2: Group Highlights
Group Highlights • Revenue broadly in line with prior year at £52.5m (2023: £52.7m). • Underlying pre-tax profit increased by £0.2m to £3.4m (2023: £3.2m). • Cash balance down to £9.7m (2023: 12.8m) reflecting working capital timing differences and increased dividends. • Underlying earnings per shar
Slide 3: Trading Overview
Trading Overview 2024 2023 Change FIH Group Plc £'m £'m £'m Turnover 52.5 52.7 (0.2) Underlying operating Profit 4.0 4.0 0.0 Net interest payable on bank loans (0.3) (0.4) 0.1 Lease finance & pension charges (0.3) (0.4) 0.1 Financing costs (0.6) (0.8) 0.2 Underlying profit before tax 3.4 3.2 0.2 Non
Slide 4: Split by Business
Split by Business: 2024 2023 Change FIH group plc £’m £’m £’m Turnover FIC 29.0 29.4 (0.4) PHFC 4.2 3.8 0.4 Momart 19.3 19.5 (0.2) Group Turnover 52.5 52.7 (0.2) Underlying Profit before tax FIC 1.8 1.9 (0.1) PHFC 0.6 0.3 0.3 Momart 1.0 1.0 0.0 Underlying profit before tax 3.4 3.2 0.2 Non-trading it
Slide 5: Falkland Islands Company (FIC)
Falkland Islands Company (FIC) 5
Slide 6: FIC Trading Overview
FIC Trading Overview 2024 2023 Change FIC £’m £’m £’m Retail 10.7 9.9 0.8 Falklands 4x4 2.7 3.1 (0.4) FBS (construction) 11.0 12.1 (1.1) Other Services 3.6 3.3 0.3 Property Rental 1.0 1.0 0.0 Total FIC Revenue 29.0 29.4 (0.4) Underlying operating profit 1.7 2.0 (0.3) Finance expense 0.0 (0.1) 0.1 Un
Slide 7: FIC Trading Overview
FIC Trading Overview • Total revenue of £29.0m down £0.4m (2023: £29.4m ). • FBS down £1.1m with a number of tender opportunities delayed. • Falkland 4x4 down £0.4m - less units sold due to difficulties experienced in sourcing. • Retail sales £0.8m ahead of prior year with strong tourist sales. • Su
Slide 8: Momart
Momart 8
Slide 9: Momart: Trading Overview
Momart : Trading Overview 2024 2023 Change Momart £’m £’m £’m Museums & Exhibitions 9.1 9.5 (0.4) Commercial Galleries and Auction Houses 7.4 7.3 0.1 Art Storage 2.8 2.7 0.1 Total Revenue 19.3 19.5 (0.2) Underlying operating profit 1.4 1.4 0.0 Finance expense (0.4) (0.4) 0.0 Underlying profit before
Slide 10: Momart Trading Overview
Momart Trading Overview • Market continues to be impacted by global economic uncertainty • Art buyers returning to more established artists. • Sellers needing to be more pragmatic about price expectations. • Squeeze on public finances reducing funding to institutions. • Revenue of £19.3m down £0.2m
Slide 11: Gosport Ferry
Gosport Ferry 11
Slide 12: Gosport Ferry: Trading Overview
Gosport Ferry : Trading Overview 2024 2023 Change PHFC £’m £’m £’m Cruising and Other income 74 100.0% Total Ferry Revenue 4.2 3.8 0.4 Underlying operating profit 0.9 0.6 0.3 Finance expense (0.2) (0.3) 0.1 Underlying profit/(loss) before tax 0.7 0.3 0.4 12
Slide 13: Gosport Ferry Trading Overview
Gosport Ferry Trading Overview • 99.5% service reliability. • Passenger numbers marginally ahead of prior year at 2.0m. • Revenue increased by 10.5% to £4.2m. • Underlying pre-tax profit of £0.7m (2023 £0.3m) reflecting: • Inflationary fare rises. • Careful management of costs. 13
Slide 14: Trading Outlook and Strategy
Trading Outlook and Strategy
Slide 15: Trading Outlook
Trading Outlook • FIC • Demand for accommodation remains strong, with a shortage of suitable housing units for both local residents and contractors on upcoming projects and potential new business ventures. • This provides FIC with opportunities to grow by securing additional infrastructure projects,
Slide 16: Strategy
Strategy • Build current businesses back to and beyond pre-COVID position. • Underlying pre-tax profit slightly ahead of last year. • More to be done. • Invest in developing existing businesses. • Capitalise on Government and MOD work and maximise use of land assets in the Falkland Islands. • Monito
Slide 17: Appendices
Appendices Cash Flow, Balance Sheet, Net Borrowings & Liquidity, Non-trading items
Slide 18: Cash flow - for the year ended 31 March
Cash flow - for the year ended 31 March 2024 2023 FIH group plc £’m £’m Underlying profit before tax 3.4 3.2 Depreciation and amortisation 2.6 2.6 Gain on disposal of fixed asset - (0.3) Net interest 0.6 0.8 Underlying EBITDA 6.6 6.3 Non-trading, cash items (0.4) (0.1) Movement in hire purchase debt
Slide 19: Balance sheet
Balance sheet 2024 2023 FIH group plc £'m £'m Tangible fixed assets 38.7 38.7 Investment properties at net book value 7.7 7.9 Goodwill & intangibles 4.4 4.4 Deferred tax, joint venture & hire purchase > 1 year 1.2 1.4 Derivative financial instruments 1.3 1.6 Total non current assets 53.4 54.0 Workin
Slide 20: Borrowings, Cash & Liquidity
Borrowings, Cash & Liquidity 2024 2023 Change FIH group plc £'m £'m £'m Bank loans due within 1 year (1.0) (1.0) 0.0 Bank loans due after 1 year (11.4) (12.3) 0.9 Total bank borrowings * (12.4) (13.3) 0.9 Cash 9.7 12.8 (3.1) Net debt (2.7) (0.5) (2.2) Lease liabilities due within 1 year (0.6) (0.6)