Northern Bear Plc · LSE:NTBR
Northern Bear — Investor Presentation (July 2025)
24 slides from Northern Bear's investor presentation, Jul 15, 2025
Slide 1: Northern Bear Plc Investor Presentation
Northern Bear Plc Investor presentation 15 July 2025
Slide 2: Presenters
Presenters John Davies Julian Davis 2 2
Slide 3: A welcome from the CEO
A welcome from the CEO Highlights Welcome Financial Performance Strategic and operational update 3
Slide 4: The Group
Introduction The Group Northern Bear plc is an AIM quoted specialist building services provider serving the support services sector. Northern Bear plc The Group comprises ten businesses in Northern England covering roofing, materials handling, and specialist building services. Roofing Materials Hand
Slide 5: Operational Highlights
Highlights Operational x Transitional year with new Exec team in place x Raised the aspirations of our businesses x Clearer messaging from Group x Increased governance and strategic support x Worked closely to focus on areas of opportunity x Market stable but only targeted growth opportunities x Fir
Slide 6: Financial Highlights
Highlights Financial £78.1m £24.6% £3.8m £6.0m 19.3p £2.5m1 * Stated prior to the impact of amortisation and provisions for closure costs relating to H Peel & Sons Limited 1. Net of bank loan of £1.5m in 2025 (£3.2m in 2024). 6
Slide 7: Financial Performance
Financial Performance 7 7
Slide 8: 5 year performance
Financial performance 5 year performance Group revenue (£m) 12.2% Adjusted operating profit* (£m) 28.4% CAGR CAGR £3.8m £78.1m £69.7m £68.7m £2.9m £61.1m £2.6m £2.6m £49.2m £1.4m 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Gross margin (%) 7.4% Adjusted operating margin* (%) 2.1% Change over C
Slide 9: Group Income Statement
Financial performance Group Income Statement Growth 2025 2024 • Group revenue increased 13.7% to £78.1m. % £m £m Revenue 13.7% 78.1 68.7 • Gross margin increased by 1.5% to 24.6%. Gross profit 21.1% 19.2 15.9 • Net operating expenses increased by £2.4m to Gross margin 24.6% 23.1% £15.8m Net operatin
Slide 10: Operating profit bridge
Financial performance Operating profit bridge 766 • Corporate – Reduction in overheads. • Roofing – Showed strong growth driven by 631 3,385 introduction of PV services and volume increases (784) with house builders, local councils and housing associations. 225 18 97 • Material Handling – Consistent
Slide 11: Building Services
Financial performance Building Services Operating margin increase offset revenue reduction Revenue Operating profit Background • Revenue – Overall small reduction in revenue where 32,477 32,369 2,301 reduction in revenues in contracting businesses have -0.3% 69.6% been offset by the growth at Isoler
Slide 12: Balance sheet
Financial performance Balance sheet Mar-25 Mar-24 Key points to note are: £000 £000 • Intangible assets are goodwill and other Goodwill and intangible assets 15,384 15,394 intangibles created through acquisitions. Property, plant and equipment - hire fleet 3,973 3,665 • PPE is mostly motor vehicles
Slide 13: Cash generation
Financial performance Cash generation • Cash from operations – Significant 7,732 cash generated in the year through strong trading performance and good (333) working capital management. (298) • Capital expenditure – Ongoing investment in fleet in the Materials (1,459) Handling business. • Loan repay
Slide 14: Returns to shareholders
Financial performance Returns to shareholders Sep 23 dividend Dec 23 1 2 4p Ordinary Return to Shareholders 1p Special Share buyback £836,000 £3,100,0001 Sep 24 dividend Sep 25 dividend 3 4 2p Ordinary Proposed £275,000 2.5p Ordinary 1p Special 1. Funded by £3.5 million loan from Virgin Money plc £4
Slide 15: Strategic and Operational Update
Strategic and Operational Update 15 15
Slide 16: Key Group strategic drivers
Strategic and operational update Key Group strategic drivers x Recognise and reward success with our people x Invest for growth x Improved communication to businesses x Focus on cash generation x Public / private client balance x Improve the quality of the opportunity x Up-value our offering 16 16
Slide 17: Building services
Strategic and operational update Building services Divisions Emerging trends Strategy Focus areas • Client's funding - target • Raise profile – Arcas rebrand and market focus in the public sector and blue-chip year. private clients. • Carbon reduction offering for education and health • Growth - aff
Slide 18: Isoler
Strategic and operational update Isoler Divisions Emerging trends Strategy Focus areas Increased Regulatory Drivers • Building Safety Compliance – we have engaged a full including: compliance team allowing delivery from design to • Building Safety Act – handover, increasing the value of our offer. i
Slide 19: Roofing
Strategic and operational update Roofing Divisions Emerging trends Strategy Focus areas • Strong pipeline of new build • Solar PV Roofing Solutions - Design and installation of homes and retrofitting integrated PV roofing systems for new builds and retrofits programs across housing increasing value
Slide 20: Materials Handling
Strategic and operational update Materials Handling Divisions Emerging trends Strategy Focus areas • Shift toward electric- • Compliance-Leveraged Leasing - Lease package offering powered fleets driven by with fully compliant maintenance and buyback options sustainability and provided. operational e
Slide 21: Inorganic strategic priorities
Strategic and operational update Inorganic strategic priorities Established business Resilient Companies with well-established business Businesses showing resilience to the models and market positions in the North challenges of labour/materials cost of England, supporting social housing, inflation,
Slide 22: Key points
Summary and outlook Key points • Overall trading performance has been good, with the key features being: • Growth in both revenue and margin; • All divisions delivering operating profit growth from prior year; • Diversified customers and sectors; • Strong cash generation from trading; and • Accelera
Slide 23: ions
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Slide 24: Disclaimer
Disclaimer The information contained in this document Please note that any indication of past performance This Presentation is governed by and shall be construed All opinions expressed in this presentation are subject to (“Presentation”) is directed at (i) members or creditors should not be relied u