Van Elle Holdings Plc · LSE:VANL
Van Elle — FY2022 Earnings Presentation
17 slides from Van Elle's earnings presentation, August 2022
Slide 1: Total Foundation Solutions - Full Year Results 30 April 2022
TOTAL FOUNDATION SOLUTIONS. VAN ELLE HOLDINGS PLC FULL YEAR RESULTS 30 APRIL 2022
Slide 2: Presenters: Chief Executive Officer and Chief Financial Officer
Mark cutler| Chief executive Officer Graeme Campbell | Chief Financial Officer 2 VAN ELLE HOLDINGS PLC FULL YEAR RESULTS 30 APRIL 2022
Slide 3: Agenda
Agenda RESULTS Overview Financial review Strategy and outlook 3 VAN ELLE HOLDINGS PLC FULL YEAR RESULTS 30 APRIL 2022
Slide 4: Results Overview
RESULTS Overview • Record activity levels and revenues delivered in the year • 48% revenue growth to £124.9m (41% growth after adjusting for the impact of the acquisition of ScrewFast) • Strong growth across all divisions, with several important strategic contract/framework appointments: – Appointed
Slide 5: Group income statement
Group income statement 2022 2021 • Record revenues delivered following post-pandemic market £m £m recovery Revenue 124.9 84.4 Gross profit 34.1 22.0 • Revenue growth in all divisions – 41% after adjusting for the 27.3% 26.1% impact of the acquisition of ScrewFast EBITDA 9.8 4.2 • Gross margin % impr
Slide 6: General Piling
General Piling 2022 2021 £m £m Revenue 39.0 27.3 Operating profit 1.8 0.3 • 43% revenue growth including several larger projects • Successful delivery of projects in London, utilising deep CFA technical capability and expertise • Gross margins impacted by supply chain challenges, particularly due to
Slide 7: Specialist Piling & Rail
Specialist Piling & Rail 2022 2021 £m £m Revenue 45.8 29.3 Operating profit 3.0 1.0 • 56% revenue growth (30% growth after adjusting for the impact of the ScrewFast acquisition) • Expanded offering to include sheet piling (with a major flood protection scheme on the A40 completed in the year) and ra
Slide 8: Ground Engineering Services
Ground Engineering Services 2022 2021 £m £m Revenue 40.0 27.6 Operating profit 2.1 0.2 • Revenue growth of 45%, with very high levels of activity from housebuilders throughout the year • Steady improvement in operational efficiencies within the price- competitive residential sector • Margins impacte
Slide 9: Balance Sheet
Balance SHEET 2022 2021 £m £m • Capital investment in plant and equipment of £4.9m Fixed assets (including intangible assets) 43.4 42.8 in the year Net working capital 8.1 6.9 • Working capital increase due to the significant Net (debt)/funds 0.1 (1.7) increase in activity levels, particularly in H2
Slide 10: Net Funds
NET FUNDS 2022 2021 £m £m Lease liabilities: £m Bank loans - (0.8) Lease liabilities at 30 April 2021 9.4 Lease liabilities (6.9) (9.4) Hire purchase principal debt repaid (2.9) Total borrowings (6.9) (10.2) IFRS 16 lease repayments (0.7) Cash and cash equivalents 7.0 8.5 New IFRS 16 vehicle lease l
Slide 11: Cash flow
Cash flow Significant increase in Q4 8 new rigs acquired in the year. Increased revenues resulted in investment after 2 higher closing working years of low capex capital during the pandemic Continued reduction of hire purchase debt and ScrewFast loan repayment 11 VAN ELLE HOLDINGS PLC FULL YEAR RESU
Slide 12: Strategic Progress - Highlights
STRATEGIC PROGRESS - HIGHLIGHTS • Further improvement in employee engagement scores from our annual employee survey • Full review of employee remuneration and benefits, with improvement to terms targeted at employee engagement and retention • Doubling of internal training days delivered, compared to
Slide 13: Current Trading and Outlook
Current Trading and Outlook • Strong momentum in H2 has continued into the first quarter of FY23 • All divisions continuing to operate at high activity levels • Supply chain challenges remain a concern, although product availability is showing some signs of improving • Input cost inflation (includin
Slide 14: Confident in achieving our medium term financial targets by FY2025
CONFIDENT IN ACHIEVING OUR medium term financial targets by fy2025 Medium term financial targets Opportunities • Positive market conditions in all sectors, especially infrastructure and housing • Diversified capabilities (e.g. ScrewFast, sheet piling, ground improvement, minor civils) creating large
Slide 15: Statistics
Statistics 2022 2021 Financial measures Revenue (£m) 124.9 84.4 Gross profit % 27.3% 26.1% Overheads % (underlying) 24.1% 27.4% Capital expenditure (£’m) 4.9 2.1 Order book (£’m) 39.0 23.5 Operational measures Number of rigs 122 115 Average rig utilisation %* 65% 51% Average rig utilisation % (excl.
Slide 16: Q&A
Q&A 16 VAN ELLE HOLDINGS PLC FULL YEAR RESULTS 30 APRIL 2022
Slide 17: Disclaimer
Disclaimer This presentation has been prepared by or on behalf of Van Elle Holdings plc (“Van Elle”). The information set out in this presentation is By attending the presentation to which this document relates and/or by accepting this document you will be taken to have represented, not intended to