19 slides from Chesterfield Special Cylinders's shareholder meeting presentation, 2018
Slide 1: 2018 AGM Presentation
2018 AGM Presentation Pressure Technologies plc
Slide 2: Agenda
Agenda ● 11.00am Formalities ● 11.30am Oil and gas market conditions, Alan Wilson, Chairman ● 11.45am Group overview, John Hayward, CEO and Joanna Allen, CFO ● 12.00pm Questions ● 12.30pm Lunch and tours of Chesterfield Special Cylinders ● 2.00pm Close 2
Slide 3: Ordinary Resolutions
Ordinary Resolutions Resolution 1 To receive and adopt the accounts together with the reports of the directors and auditors for the period ended 30 September 2017. Resolution 2 To approve the Directors’ Remuneration report for the period ended 30 September 2017. Resolution 3 To reappoint Philip Camm
Slide 4: Ordinary Resolutions
Ordinary Resolutions Resolution 4 To reappoint Grant Thornton UK LLP as auditors of the Company to hold office from the conclusion of this Annual General Meeting until the conclusion of the next Annual General Meeting and to authorise the directors to fix their remuneration. Resolution 5 To give the
Slide 5: Special Resolutions
Special Resolutions Resolution 6 The Company is generally and unconditionally authorised for the purposes of Section 116 of the Act to make market purchases, as defined in Section 693(2) of the Act, of ordinary shares in the capital of the Company up to an aggregate of 2,787,415 ordinary shares (bei
Slide 6: Special Resolutions
Special Resolutions Resolution 7 To give the directors of the Company, subject to the passing of resolution 5, the power to allot equity securities (within the meaning of section 560 of the Act) wholly for cash pursuant to the authority conferred by resolution 5 as if section 561(1) of the Act did n
Slide 7: Oil and gas market conditions
Oil and gas market conditions Alan Wilson, Non-Executive Chairman
Slide 8: Agenda
Agenda • What happened in 2017? • Outlook & challenges for 2018… 8
Slide 9: What happened in 2017?
What happened in 2017? ● Global GDP increased to 3.0%; China and India lead the way ~6.5% ● Global oil demand grew by 1.6% - some 82% of that from non-OECD nations ● OPEC oil production cuts totalled 1.8 mmbbl/day… and achieved 129% conformity! ● Oil hit a three-year high of ~$65/bbl in December ● O
Slide 10: What happened in 2017?
What happened in 2017? ● Around 35-40% of the global offshore drilling fleet remained idle ● Some 18% of global drilling fleet demolished, or removed: 2014-17 ● Offshore rig day rates stabilised - $470-$170k/d - UDWSSDR ● US crude oil stockpiles declined steadily ● UK offshore average operating cost
Slide 11: Outlook for 2018...
Outlook for 2018... ● Global GDP forecast continues upward trend to 3.1% - over half the world’s economies likely to grow ● Global oil demand growth expected to slow to 1.3% as prices increase ● Chinese & Indian oil demand accounts for about 50% of global demand growth – 3% and 7% respectively ● The
Slide 12: Industry challenges for 2018...
Industry challenges for 2018... If the past is anything to go by… ● Waiting for a bus… ● As the pace quickens: ○ Inventories depleted – speed wins prizes ○ Human resources - numbers ○ Competence – experience ○ Capacity constraints ○ Cash for growth ○ Raw materials ○ Supply chain strain ● Profitable
Slide 13: Group Overview
Group Overview John Hayward, Chief Executive Officer Joanna Allen, Chief Financial Officer
Slide 14: Financial highlights
Pressure Technologies plc Investor presentation 2017 Financial highlights Revenue up 7.3% to Operating Profit* Operating cash inflow*** £38.4m £1.1m £1.0m (2016: £35.8m) (2016: loss £(0.4)m) (2016: £5.1m) Acquisition of Martract Ltd Revenue per employee up 27% to Return on Revenue £3.6m £161k** 2.9%
Slide 15: Operational highlights
Pressure Technologies plc Investor presentation 2017 Operational highlights Oil and gas market improvement Cylinders profitability Restructuring PMC order intake more Underpinned by defence Alternative Energy consistent with strong market and industrial gases restructured and broke even second-half
Slide 16: Outlook
& Pressure “JF Technologies Specialist engineerinc xcellence ¢ Organic growth * Fu tion of Martract * Unique solut 1gement services * World leade neering heritage « Highly skille sity and ingenuity * Close collal omers ° Creation of PMC braric! = ‘stment in peoples Investment in ystems ° Substantial
Slide 17: Recent share issue improves ability to support organic growth
Pressure Technologies plc Investor presentation 2017 The recent share issue improves the Group’s ability to support large-scale organic growth, and with no immediate major capital expenditure required the Group is in good shape ● Increasing confidence in the oil and gas market is driving growth in P
Slide 18: Keep up to date with our news
Pressure Technologies plc Investor presentation 2017 Keep up to date with our news Please join us on LinkedIn https://www.linkedin.com/company/17971399/ And keep up to date with news from around the Group http://www.pressuretechnologies.com/news 18
Slide 19: Disclaimer
Pressure Technologies plc Investor presentation 2017 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 investors in the Un