Robinson plc · LSE:RBN
Robinson — Shareholder Meeting (May 2022)
32 slides from Robinson's shareholder meeting presentation, May 26, 2022
Slide 1: Annual general meeting 2022
Annual general meeting 2022 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 and Resolutions
Agenda Notice of meeting Resolutions — Alan Raleigh Independent Auditor’s Report - Alistair Wesson Business overview — Alan Raleigh * Our year in review +« AGM trading statement Strategy and execution — Helene Roberts * Strategic framework + Sustainability pledge update * Risk and uncertainty * Sche
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 2021 which comprise group income statement, the group statement of comprehensive income, the group and company stat
Slide 7: Business overview
BUSINESS OVervieLW Alan Raleigh - Chairman
Slide 8: 2021 year in review
* Very difficult market conditions created exceptional challenges for the business in 2021 * Margin came under severe pressure and profit was substantially lower than historical levels * Comprehensive plan being implemented to address cost base * Strong progress on sustainability and key customer fo
Slide 9: AGM trading statement
AGM trading statement Current trading “Group sales in the first four months of the year are 22% ahead of the same period in 2021, 6% higher excluding the impact of the Schela Plast business in both periods. After adjusting for price changes and foreign exchange, sales volumes in the underlying busin
Slide 10: AGM trading statement (continued)
AGM trading statement (continued) Property As previously announced, the Group has completed on the sale of two properties in the period. The first was a sale of surplus land and buildings in Chesterfield on 31 March 2022, with consideration of £975,000. The second an operational property in Sutton-i
Slide 11: AGM trading statement (continued)
AGM trading statement (continued) Net debt Following the two property sales during the period, net debt* has reduced to £8.9m at 30 April 2022 (31 December 2021: £13.1m). Deferred consideration of £2.3m is payable to the former owners of Schela Plast before the end of June 2022. Outlook The substant
Slide 12: Strategy and execution
Strategy ano eXxeCUTION Q
Slide 13: 2021 performance
2021 performance * Rolling Covid-19 lockdouwns affected demand * Customers shut down lines due to their own labour and raw material shortages 5% below + UK ramp-up in demand for seasonal packaging later than normal 2020 * Customer New Product Development activity lower than normal, they focused on c
Slide 14: Acquisition - Schela Plast A/S
Acquisition - Schela Plast A/S Completed February 2021 Specialist in the design and manufacture of plastic blow moulded containers in Denmark Complementary market sectors to those served by Robinson and expands geographic reach Morten Jeppesen continuing to lead the company as Managing Director Oper
Slide 15: Customer First, Sustainable Growth, Thriving People
Customer First Sustainable Growth Thriving People
Slide 16: Recycled plastics: rPE, rPET, rPP
rPE – polyethylene rPET – polyester rPP – polypropylene Mainly used for bottles Mainly used for clear bottles Mainly used for closures • • • •
Slide 17: Measuring performance
Measuring performance @® Lost time accidents per 100 employees 2021 | 1.00 (Goal = 0.00) 2020 2.37 2019 2.10 2018 0.65 @ Waste to landfill 2021 ma 4% (Goal = 0%) 2020 20% 2019 18% 2018 12% 17 @ 2021 2020 2019 2018 2020 2019 2018 Post-consumer recycled content 3% All products 1% 0% 8% Excluding PP fo
Slide 18: Risk management
Risk management * A) Acquisition performance - failure to perform could reduce business earnings and value ACTION: Detailed integration plan developed and executed @ static risk @ increased cisk * C) Raw material supply and input prices - disruption may cause inability to meet sales demand, inflatio
Slide 19: Three key initiatives
Three key initiatives Denmark * New equipment to re-pelletise scrap material from production recycled * Increases existing re-erocessing capacity material * Certification to sell own post-production waste as recycled material UK site * Sold Stanton Hill factory, relocating production to Kirkoy-in-As
Slide 20: Mike Cusick - Finance Director
Mike Cusick — Finance Director 20
Slide 21: Sales, gross margin, operating costs, profit and net debt
Sales (£m) Gross Margin % Operating costs (£m) 25.0 23.0 2,000 21.4 1,776 5.9 19.4 0.6 37.2 7.8 20.0 35.1 17.9 17.0 1,500 5.0 32.8 4.5 4.4 29.8 15.0 1,405 1,302 1,315 1,137 1,000 10.0 500 5.0 0.0 0 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 Adj. Operating Profit* (£m)
Slide 22: Pension fund
Pension fund Defined benefit pension plan Closed to new entrants in 1997 Assets £69m at end of 2021 (2020: £67m) Triennial actuarial valuation completed as at 5 April 2020: « After rolling forward to 30 Oct 2020, surplus of 4% (2017: 2%) Trustees and Company agreed the Company continues to benefit f
Slide 23: Surplus property
Surolus oroeerty Guy Robinson - Property Director
Slide 24: Surplus property
Surplus property Increase cash reserves for reinvestment Surplus properties * Current book value £3.4m (valued end of 2008) * Current gross rental income £0.4m per annum * Agreed to sell, subject to contract, 8 acres of Boythorpe for gross value marginally in excess of £2.4m (book value <£0.8m) Deve
Slide 25: Helene Roberts - CEO
Helene Roberts – CEO 25
Slide 26: Summary and outlook
Summary and outlook Full year 2021 * Very challenging conditions in 2021 - Covid-19, price inflation, demand * Sourced scarce material to continue servicing our customers * Advanced our health and safety programme * Modest restructuring programme launched in November, £0.2m of exceptional costs will
Slide 27: Alan Raleigh - Chairman
Alan Raleigh - Chairman 27
Slide 28: Any Questions?
O&A Any Questions?
Slide 29: Resolutions
Resolutions Alan Raleigh - Chairman
Slide 30: Resolutions
Resolutions 1. To receive the report of the Directors and the audited financial statements for the year ended 31 December 2021 2. To declare a final dividend of 3.09 per ordinary share 3. To re-elect Guy Robinson as a Director of the company 4. To re-elect Mike Cusick as a Director of the company 5.
Slide 31: Thank you for attending
Thank you for attending * Plans for investor event to be held in October, similar to last year * Any further questions to agm@robinsonpackaging.com 31
Slide 32: Together since 1839