Robinson Plc · LSE:RBN
Robinson — Shareholder Meeting (June 2023)
31 slides from Robinson's shareholder meeting presentation, Jun 22, 2023
Slide 1: Annual general meeting 2023
Annual general meeting 2023 ROBINSON
Slide 2: Disclaimer
Disclaimer ‘The information contained in these slides and any accompanying verbal presentation as well as any question and answer sessions (together, the "Presentation") have not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 ("FSMA"). Relianc
Slide 3: Board team
Board team | co eB, 4 Alan Raleigh - Non-executive Chairman Sara Halton ior Independent Director Guy Robinson - Non-executive Director Helene Roberts - Chief Executive Mike Cusick - Finance Director
Slide 4: Agenda
Agenda * Notice of meeting * Resolutions — Alan Raleigh * Independent Auditor’s Report — Alistair Wesson * Business overview — Alan Raleigh Resolutions * Our year in review « AGM trading statement . To receive the report of the Directors and the audited . Strategy and execution — Helene Roberts fina
Slide 5: Alistair Wesson - Mazars Audit Partner
Alistair Wesson - Mazars Audit Partner
Slide 6: Independent Auditor's report
Independent Auditor’s report Opinion “We have audited the financial statements of Robinson PLC (the ‘parent Company’) and its subsidiaries (the “Group’) for the year ended 31 December 2022 which comprise group income statement, the group statement of comprehensive income, the group and company state
Slide 7: Business overview
BUSINESS OVervieLW Alan Raleigh - Chairman
Slide 8: The challenging market conditions continued throughout 2022
* The challenging market conditions continued throughout 2022 * Gross margin was maintained despite further cost inflation and lower sales volumes in the underlying business * Consolidated UK Plastics operations onto one site in Kirkoy-in-Ashfield and sold one surplus property in Chesterfield * Won
Slide 9: AGM trading statement
AGM trading statement CEO announcement Dr Helene Roberts has informed the Board of her intention to step down as CEO to take up a new opportunity. We would like to thank Helene for her enormous contribution during her time with Robinson. The Board will now initiate a search process to recruit a new
Slide 10: AGM trading statement (continued)
AGM trading statement (continued) Property As previously announced, the Group completed on the sale of a surplus property in Chesterfield on 30 May 2023. Consideration of £0.7m was received in cash and these monies were used by the Company to reduce bank debt. Subject to the necessary planning appro
Slide 11: AGM trading statement (continued)
AGM trading statement (continued) Outlook We expect the substantial macroeconomic uncertainty and volatility experienced since the beginning of 2021 to continue throughout 2023. We are seeing more new business activity with our existing and potential customers, which provides opportunities for addit
Slide 12: Strategy and execution
Strategy ano eXxeCUTION Q
Slide 13: Total revenue bridge 2021 to 2022
+11.8% +8.9% £50.5m £46.0m -9.5% -1.2% Total revenue +10.0% 2021 Price Volume Currency Acquisition* 2022
Slide 14: Customer First Sustainable Growth
Customer First Sustainable Growth
Slide 15: | EXPRESS
15 | EXPRESS Prices cold roche ote hgh ale shce 96a apts proc. INFLATION 70 MILLIONS 4 COPE? bea
Slide 16: Sales Growth Improved Profitability
Recycled polypropylene Sales Growth Improved Profitability mainly used for closures • • • •
Slide 17: Three key initiatives in 2023
Three key initiatives in 2023 * Major Unilever project in Denmark - new capacity with large investment Sales growth * Glass to PET bottle/jar conversion in the UK - existing capacity * Ouun label opportunities in Poland for discount channels in Western Europe Organisation * Created one European busi
Slide 18: Mike Cusick — Finance Director
Mike Cusick — Finance Director 18
Slide 19: Sales, gross margin, operating profit and net debt 2018-2022
Sales (£m) Gross Margin % Gross Profit (£m) 25.0 23.0 1,895 2,000 21.4 1,776 8.6 8.8 20.0 7.5 7.8 17.9 17.0 17.3 1,500 11.9 35.1 37.2 7.8 32.8 1,405 5.9 15.0 1,315 1,137 1,000 10.0 500 5.0 0.0 0 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 = Schela Plast Adj. Operating
Slide 20: Net debt £3.9m lower
£13.1m £19m total facilities available Guaranteed amount due to owners of 1.4 £9.2m Schela Plast West End & Goytside Mill 0.9 4.9 + Stanton Hill 2.3 2.7 2.5 New terms with customers and suppliers 3.5 Net debt £3.9m lower 2021 Operating Working Property Net Deferred Dividends Interest, tax 2022 cashf
Slide 21: Pension fund
Pension fund Defined benefit pension plan Buy-in contract signed 6 Dec 2022, and full buy-out expected by the end of 2023 Any surplus remaining after buy-out will be used to augment members pensions Pension Escrow Account has £3.2m - £2.7m of which loaned to Company Now increased probability the esc
Slide 22: Surplus property
Surolus oroeerty Guy Robinson - Non-executive Director
Slide 23: Surplus property
Surplus property Increase cash reserves for reinvestment Surplus properties * Remaining book value £2.8m at 31 December 2022 * Market value £7.4m (valued by Innes England as at November 2022) * Current gross rental income £0.3m per annum * Expect further sales in the next 12 months - subject to plan
Slide 24: Helene Roberts – CEO
Helene Roberts – CEO 24
Slide 25: Summary and outlook
Summary and outlook Full year 2022 Continued challenging conditions - price inflation, volatile demand Improved profits over 2021 Consolidated UK plastics operations and achieved a surplus property sale Agreed buy-in and future buy-out of pension scheme liabilities in November 2023 Outlook 25 Sales
Slide 26: Alan Raleigh - Chairman
Alan Raleigh - Chairman 26
Slide 27: Any Questions?
O&A Any Questions?
Slide 28: Resolutions
Resolutions Alan Raleigh - Chairman
Slide 29: Resolutions
Resolutions 1. To receive the report of the Directors and the audited financial statements for the year ended 31 December 2022 2. To declare a final dividend of 3.09 per ordinary share 3. To re-elect Sara Halton as a Director of the company 4. To re-elect Helene Roberts as a Director of the company
Slide 30: Thank you for attending
Thank you for attending * Any further questions to agm@robinsonpackaging.com 30
Slide 31: Together since 1839