Slide 1: Growing to Plan
GROWING TO PLAN Carclo plc Full Year Results for the year ended 31 March 2022 Investor Presentation 5 & 6 July 2022
Slide 2: Nick Sanders and Phil White
Nick Sanders Phil White Executive Chair Chief Financial Officer Carclo Full Year Results Investor Presentation 5 & 6 July 2022 2
Slide 3: Agenda
Agenda Overview Strategy Financial Overview Summary and Outlook Carclo Full Year Results Investor Presentation 5 & 6 July 2022 3
Slide 4: Group Performance Overview
Group Performance Overview FY22 Revenue Divisional EBITDA* £15.9m 4.7 0.9 CTP CTP Aero Aero 123.9 15.0 Strong growth in revenues (19.5%) and EBITDA* (21.3%) despite global economic headwinds CTP revenue up by (20.9%), Aerospace down by (7.8%) but orders exceeding sales and growing into FY23 EB
Slide 5: CTP Revenue
CTP CTP Progression £m 1.9% CTP Sales by Market 120.0 20.0 1.3% 10.2% 100.0 15.0 80.0 Revenue 13.9% EBITDA 60.0 10.0 72.7% 40.0 5.0 20.0 - - Medical / Diagnostics Electronics 2019 2020 2021 2022 Optics Automotive Manufacturing Revenue Tooling Revenue Other EBITDA Strong demand continuing in chosen
Slide 6: Aerospace Revenue
Aerospace Aero Progression £m 8.0 2.5 6.0 2.0 Revenue 1.5 EBITDA 4.0 1.0 2.0 0.5 - - 2019 2020 2021 2022 Revenue EBITDA Remained profitable and cash generative throughout pandemic Strong order intake in H2 FY2022 continuing into FY2023 Investing in growth More business development resources
Slide 7: Pension Deficit
Pension Deficit IAS 19 Progression 166.3 172.8 167.4 155.8 £m 49.1 37.6 37.3 26.0 2019 2020 2021 2022 Fair value of scheme assets Net liability for defined benefit obligations Overall £11.3m reduction. Key changes: £15.2m actuarial assumption gains, mainly increased liability discount rates from
Slide 8: Strategy
Strategy CTP Focus on organic growth with existing blue-chip customers on a global rather than national basis Continue to invest in CapEx and strengthening management ROCE focused operational improvements Optimising and then expanding manufacturing base to grow with our customers Aerospace
Slide 9: Phil White, Chief Financial Officer
Phil White Chief Financial Officer Financial Results for the full year ended 31 March 2022 Carclo Full Year Investor Presentation 5 & 6 July 2022
Slide 10: Financial Overview: Income Statement
Financial Overview: Income Statement Group revenue up £21.0m to £128.6m CTP growth from manufacturing £10.6m and tooling £10.8m Manufacturing growth includes high input cost inflation pass through Aero revenue down £0.4m, but orders exceed sales (longer term pipeline) Underlying operating
Slide 11: Financial Overview – Other KPIs
Financial Overview – Other KPIs Basic & diluted uEPS up 29% to 3.1p on uPAT of £2.3m (2021: £1.7m) Basic & diluted statutory EPS 7.9p (2021: 10.1p) on PAT of £5.8m (after US COVID grant £2.1m, exceptional gains £0.7m, discontinued business gain £0.7m) ROCE up 1.2% to 7.8% (underlying opera
Slide 12: CTP Division Operating Performance
CTP Division Operating Performance CTP – Performance Summary H2 v H1 CTP H1:H2 Split 80,000 9,000 Manufacturing revenue up £3.8m to £51.3m (H1 £47.5m) 70,000 8,000 Predominantly pass through of inflation costs to sales 60,000 7,000 6,000 Tooling revenue up £7.0m to £16.1m (H1 £9.1m) 50,000 Rev
Slide 13: Aerospace Division Operating Performance
Aerospace Division Operating Performance Aero H1:H2 Split Aerospace – Performance Summary H2 v H1 3,000 600 Aerospace EBITDA increase of 46% from £0.37m to £0.54m 2,500 500 Revenue rising by 25% to £2.6m H2 against £2.1m H1 Order intake continually trending to exceed sales from H2 2,000 400
Slide 14: Consolidated Income Statement
Consolidated Income Statement Consolidated income statement for the year ended 31 March 2022 £000 2021 £000 KPI Movements Summary Continuing operations: Revenue 128,576 107,564 Revenue up 19.5% YOY Operating profit up 25.9% YOY Underlying operating profit 6,096 4,840 COVID-related US government
Slide 15: Group Net Debt YOY movement
Group Net Debt YOY movement Net debt bridge £m Net debt up £4.8m to £32.4m Working capital outflows £3.6m mainly comprises £4.2m inventory increase, protecting post-COVID supply chain uncertainties Pension contributions £2.7m are net of £3.9m gross contributions, including additional £0.4m agr
Slide 16: Consolidated Financial Position
Consolidated Financial Position Net Assets By Type - £000 2022 2021 £4.9m fixed asset movement comprises excess CapEx over PPE & intangibles 69,944 65,066 depreciation/amortisation of £2.8m plus £2.1m FX gain in valuation Inventories 16,987 12,821 £4.2m inventory increase due to protect post-COV
Slide 17: Consolidated Cash Flows – includes discontinued operations
Consolidated Cash Flows – includes discontinued operations Consolidated statement of cash flows for the year ended 31 March 2022 £000 2021 £000 Main cash movements in year: £4.5m drop in cash generated from operations mainly: Cash generated from operations 6,780 11,202 2022 £3.7m working capit
Slide 18: Summary and Outlook
Summary and Outlook • Good progress although economic and operating challenges relating to growth and supply chain issues depressed margins in the second half • Margin pressure is expected to continue into H1 2023. • However price increases applied across the Group early in H1 2023 • Customer demand
Slide 19: Disclaimer
Disclaimer This presentation may include certain forward-looking statements, beliefs or opinions, including statements with respect to Carclo plc’s business, financial condition and results of operations. These forward-looking statements can be identified by the use of forward-looking terminology, i