Chesterfield Special Cylinders Holdings Plc · LSE:CSC
Chesterfield Special Cylinders — FY2025 Earnings Presentation
30 slides from Chesterfield Special Cylinders's earnings presentation, Dec 18, 2025
Slide 1: FY25 Full-Year Results
FY25 Full-Year Results Investor Presentation Chris Walters, Chief Executive Sally Millen, Director of Finance Chris Webster, Chief Operating Officer 18 December 2025
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Chesterfield Special Cylinders Holdings plc (the “Company“ or “Chesterfield Special Cylinders Holdings”) solely in connection with providing information on the Company and to certain institutional and professional investors in the United Kingdom. This
Slide 3: Strong growth, strategic progress
Strong growth, strategic progress ● Significant revenue growth, return to Adjusted EBITDA profit ● Clear focus, strengthened balance sheet, net cash position ● Strong defence market, growth in overseas naval contracts ● Strategically significant UK hydrogen newbuild contract ● Record Integrity Manageme
Slide 4: Contents
Contents ● Financial results ● Strategy ○ FY28 targets ○ Market sectors ○ FY25 progress ● FY26 outlook ● Summary ● Q&A
Slide 5: Financial highlights
Financial highlights Revenue Gross profit* £16.6m £6.4m (2024: £14.8m) (2024: £4.9m) Adjusted EBITDA** profit Loss before taxation £0.8m £0.8m (2024: £0.9m loss) (2024: £2.7m loss) Continuing operations include CSC and central costs of £0.8m (2024: £1.7m) Operating cash inflow*** Cash balance**** Cent
Slide 6: FY25 revenue by market sector
FY25 revenue by market sector Total revenue (all sectors) £16.6m (2024: £14.8m) Defence Hydrogen £12.8m £2.6m (2024: £11.1m) (2024: £1.7m) Industrial Offshore services Lifecycle services (all sectors) £7.1m (2024: £4.8m) £0.5m £0.7m In-situ Integrity Management £4.8m (2024: £2.4m) (2024: £1.6m) (202
Slide 7: Return to Adjusted EBITDA profit, reduced central cost
Return to Adjusted EBITDA profit, reduced central cost Profit & loss FY25 FY24* £m £m Revenue 16.6 14.8 Gross profit 6.4 4.9 Adjusted EBITDA 0.8 (0.9) Chesterfield Special Cylinders 1.6 0.8 Central costs (0.8) (1.7) Depreciation (0.8) (0.8) Exceptional items (0.8) (0.7) Operating loss (0.7) (2.4) Loss a
Slide 8: Strengthened balance sheet, clear focus
Strengthened balance sheet, clear focus Balance sheet FY25 FY24 £m £m Tangible Assets 6.4 6.8 Tangible fixed assets 6.2 6.5 Right of use assets (ROUA) 0.2 0.3 Net Working Capital 2.4 1.8 Assets held for sale (PMC) - 3.9 Tax Provisions 0.2 0.1 Net cash / (borrowings) 2.1 (0.9) Cash 2.1 0.1 Term loan -
Slide 9: Cash balance £2.1m, working capital flexibility
Cash balance £2.1m, working capital flexibility 9
Slide 10: Strategy
Strategy • FY28 targets • Market sectors • FY25 progress ○ Defence ○ Hydrogen ○ Lifecycle services ○ Operational performance
Slide 11: Clear strategic focus
Clear strategic focus Deliver value for our shareholders, customers and other stakeholders as a leading supplier of gas storage and transportation systems and services in demanding, safety-critical environments Defence Hydrogen Trusted supplier of mission-critical systems to navies World-leading rep
Slide 12: Strong ambition for FY28
Strong ambition for FY28 Clear mid-term targets to underpin value creation for shareholders FY28 targets Grow hydrogen sales to * Deliver revenue Double >£30m high-value overseas 30% defence revenue to £6m of total revenue Adjusted EBITDA margin * Double 30% Integrity Management of revenue from life
Slide 13: Defence
[NII Chesterfield Defence
Slide 14: Key supplier to navies worldwide
Key supplier to navies worldwide Trusted supplier of mission-critical systems via defence prime contractors to NATO navies worldwide, supporting newbuild and refit programmes over the long term Long-term supplier navies worldwide defence prime contractors Supporting 25 + 14 14
Slide 15: Long-term outlook for UK & overseas defence market
Long-term outlook for UK & overseas defence market Strong defence spending commitments and geopolitical climate underpin long-term naval newbuild programme visibility to 2040, with qualified revenue opportunity of c.£125m 15 15
Slide 16: Hydrogen
NII Chesterfield Hydrogen
Slide 17: Key role to play in emerging hydrogen economy
Key role to play in emerging hydrogen economy World-leading reputation and over 100 years experience in the design, manufacture and lifecycle support of safety-critical high-pressure hydrogen storage systems ● Established market for industrial bulk gas storage and transport ● Growing market for indu
Slide 18: Exciting outlook for hydrogen in the UK
Exciting outlook for hydrogen in the UK Well positioned in the growing UK hydrogen market, where government commitment remains strong to decarbonisation across transport, power and industrial applications HAR1 Projects (Approved) ● Commitment confirmed to UK Hydrogen Allocation Rounds (HAR) HAR2 Proj
Slide 19: FY25 progress
[NII Chesterfield FY25 progress
Slide 20: Defence - strong growth from overseas naval contracts
Defence - strong growth from overseas naval contracts FY25 progress FY28 target Overseas defence Overseas defence revenue order intake Double £4.9m £8.3m high-value overseas (2024: £3.1m, up 58%) (2024: £4.9m, up 69%) defence revenue to £6m ● Overseas naval contracts secured, initial milestones deli
Slide 21: Hydrogen - first large-scale UK newbuild contract
Hydrogen - first large-scale UK newbuild contract FY25 progress FY28 target Hydrogen Hydrogen Grow hydrogen sales to revenue order intake £2.6m £3.2m 30% (2024: £1.7m, up 53%) (2024: £1.5m, >double) of total revenue (c.£9m) ● Record revenue performance and order intake for hydrogen ● First large-scal
Slide 22: Lifecycle services - ramp up UK Integrity Management
Lifecycle services - ramp up UK Integrity Management FY25 progress FY28 target Integrity Management Integrity Management revenue order intake Double £4.8m £5.2m Integrity Management (2024: £2.4m, double) (2024: £2.5m, >double) revenue to c.£5m ● Record Integrity Management revenue from UK naval depl
Slide 23: Operational performance
NII Chesterfield Operational performance
Slide 24: Operational performance - strategy for growth
Operational performance - strategy for growth Operational Accelerate performance flow Equipment Systematic change performance Back to basics Skills and Competency 2022 2025 2028 24
Slide 25: Operational performance - progress made to FY25
Operational performance - progress made to FY25 Back to basics Systematic change Accelerate performance 2022 2025 2028 Improved service Apprenticeship Sustainable levels scheme standards Stabilised Increased performance capacity Robust training process 25 25
Slide 26: Operational performance - accelerating towards FY28
Operational performance - accelerating towards FY28 2025 Accelerate performance 2028 Structured, data-driven multi-functional improvement process Industry 4.0 strategy for data collation, product tracking and process performance Process measurement to drive quality & efficiency improvement Meadowhall
Slide 27: FY26 outlook
[NII Chesterfield FY26 outlook
Slide 28: Confident outlook for revenue and earnings growth in FY26
FY26 outlook Confident outlook for revenue and earnings growth in FY26 Defence Hydrogen ● Overseas contracts expected in Q1 2026 ● Major UK HAR1 contract expected Q1 2026 ● First UK SSN-A (AUKUS) contract in 2026 ● First UK HAR2 contract expected in 2026 ● Progress US Navy supplier qualification ● Typ
Slide 29: Summary
Summary ● Significantly improved financial performance ● Strategic progress towards 2028 targets ● Confidence in the outlook for FY26 ● Exciting prospects over the medium to long term 29
Slide 30: FY25 Full-Year Results Q&A
[NII Chesterfield FY25 Full-Year Results Q&A
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