20 slides from Chesterfield Special Cylinders's earnings presentation, Jan 18, 2022
Slide 1: Full Year Results 2021
Full Year Results 2021 Chris Walters, Chief Executive | James Locking, Chief Financial Officer
Slide 2: Disclaimer
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR 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
Slide 3: Group Highlights
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 Group Highlights Good progress continued, results in line with market expectations, resilience through prolonged challenge of oil and gas market conditions and disruptive backdrop of Covid-19 RESULTS * Adjusted operating loss ■
Slide 4: Group Financial Results
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 Group Financial Results Revenue Gross profit £25.3m £6.7m (2020: £25.4m) (2020: £5.3m) Adjusted operating loss* Loss before taxation £0.7m £4.2m (2020: £2.4m adjusted (2020: £20.0m loss before operating loss) taxation) Operating
Slide 5: Summary Profit & Loss
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 Summary Profit & Loss FY21 FY20 Revenue (£m) 25.3 25.4 Strong performance in CSC from defence, industrial, nuclear and Chesterfield Special Cylinders Division 18.9 11.2 hydrogen contracts offset weakness in PMC results Precision
Slide 6: Summary Balance Sheet
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 Summary Balance Sheet FY21 FY20 £m £m Intangible Assets 0.1 0.3 Strategic investment in facilities and equipment at CSC and Tangible fixed assets 12.1 13.8 maintenance expenditure at PMC took place in the period, with Right of U
Slide 7: Net Debt - leverage significantly reduced
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 Net Debt - leverage significantly reduced PRES: Full Year Results to 2 October 2021 7
Slide 8: Banking facility amendment and extension
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 Banking facility amendment and extension AMENDED IN OCTOBER 2021 ■ Facility: ○ £4.0 million ○ Extended from November 2022 to June 2023 ■ Financial covenants to June 2022: ○ Liquidity test: Positive cash ○ Capital Expenditure Li
Slide 9: Chesterfield Special Cylinders - Financial Results
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 Chesterfield Special Cylinders - Financial Results Revenue up 69% Gross profit doubled £18.9m £6.1m (2020: £11.2m) (2020: £2.9m) Adjusted operating Gross profit margin profit* increased by 6ppt £2.8m 32% (2020: £0.1m adjusted (2020
Slide 10: Chesterfield Special Cylinders
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 Chesterfield Special Cylinders Strong performance from defence, industrial, nuclear and hydrogen contracts FY21 PERFORMANCE & STRATEGIC PROGRESS ■ Defence contract revenues more than doubled to £11.1 million (2020: £5.1 million)
Slide 11: Strong defence order book and outlook
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 Strong defence order book and outlook Defence order book and contract pipeline remain strong, providing good visibility of naval new construction and refit programmes going into FY22 MAJOR UK AND OVERSEAS NAVAL SURFACE SHIP AND
Slide 12: Well positioned for total service in hydrogen storage
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 Well positioned for total service in hydrogen storage Market leading position is built upon over 100 years experience in the design, manufacturing and inspection of safety-critical high-pressure systems RESPECTED KNOWLEDGE IN D
Slide 13: Hydrogen success in FY21 - customers adopting CSC solutions
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 Hydrogen success in FY21 - customers adopting CSC solutions New orders and customers are being realised, as we see proof of concept projects replaced by more standardised solutions for bus, truck and mixed-use hydrogen refuelli
Slide 14: Momentum and focus on growth in exciting hydrogen market
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 Momentum and focus on growth in exciting hydrogen market Hydrogen refuelling stations (HRS) will be commissioned at an increasing rate for medium and heavy duty applications and in logistics. Phase 1 focus to secure strong posi
Slide 15: CSC investment for growth in European HRS market on plan
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 CSC investment for growth in European HRS market 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 inc
Slide 16: Precision Machined Components - Financial Results
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 Precision Machined Components - Financial Results Revenue 55% down Gross profit £6.4m £0.7m (2020: £14.2m) (2020: £2.5m) Adjusted operating loss* Gross profit margin £1.6m 11% (2020: £0.7m (2020: 18%) adjusted operating loss) Ret
Slide 17: Precision Machined Components
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR 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
Slide 18: Summary
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 Summary The Group is well positioned to take advantage of a strong defence order book, exciting growth opportunities in hydrogen energy and the prospect of steadily improving oil and gas market conditions ■ Our strategy remains
Slide 19: Major Shareholders at 31 December 2021
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 Major Shareholders at 31 December 2021 Name of Shareholder No. of Shares Holding Schroder Investment Management 8,137,304 26.19% Harwood Capital 4,295,394 13.83% Premier Miton Group 2,578,747 8.30% James Sharp 1,684,745 5.42% G
Slide 20: Follow our news and contact us
PRESSURE TECHNOLOGIES PLC INVESTOR PRESENTATION - FULL YEAR RESULTS 2021 Follow our news and contact us Please follow us on LinkedIn https://www.linkedin.com/company/17971399/ Email us PressureTechnologies@houston.co.uk PRES: Full Year Results to 2 October 2021 20