Dialight plc · LSE:DIA
Dialight — The Roxboro Group — H1 2005 Earnings Presentation
13 slides from Dialight's earnings presentation, Sep 12, 2005
Slide 1: The Roxboro Group PLC Interim Results 6 Months to 30th June 2005
The Roxboro Group PLC Interim Results 6 Months to 30th June 2005 12 September 2005
Slide 2: Headlines
the roxboro group plc headlines y Solartron sold through two transactions y Aggregate consideration of over £70m (with adjustments) y Plan to return £46.6m to shareholders (over £110m returned since 2000) y Name of company to be changed to Dialight plc y Focussed strategy on applied LED technology y
Slide 3: Financial Review
Financial Review interim results 2005
Slide 4: UK GAAP profit and loss account
the roxboro group plc UK GAAP profit and loss account 6 months ended 30 June 2005 £m 30 June 2005 30 June 2004 sales profit sales profit Dialight 25.8 2.4 28.2 2.3 Solartron 32.7 2.9 31.0 3.3 58.5 5.3 59.2 5.6 Central (1.1) (1.2) Profit before goodwill and taxation 4.2 4.4 Operating Margins: ● Diali
Slide 5: UK GAAP profit and loss account (cont'd)
the roxboro group plc U K G A A P p r o f i t a n d l o s s a c c o u n t (c o n t d.) 6 months ended 30 June 2005 £m 30 June 2005 30 June 2004 Profit before goodwill and taxation 4.2 4.4 Goodwill (0.5) (0.5) 3.7 3.9 Taxation (1.6) (1.6) 2.1 2.3 Underlying taxation rate 37.7% 36.1% UK GAAP EPS ● Bas
Slide 6: Summarised cashflows
the roxboro group plc summarised cashflows £m 2005 2004 y Operating Profit 4.2 4.4 – Depreciation 1.2 1.4 – Working capital (2.3) 1.8 – Provisions (0.1) 0.4 y Operating Cash Flow 3.0 8.0 – Capital Expenditure (1.4) (0.7) – Taxation (1.3) (1.4) y Free Cash Flow 0.3 5.9 interim results 2005
Slide 7: Movement in cash
the roxboro group plc movement in cash £m 2005 2004 y Free Cash Flow 0.3 5.9 – Dividends (2.3) (2.1) – B Share redemptions (0.1) (0.1) – Ordinary share issues - 0.1 y Net Cash (Outflow)/Inflow (2.1) 3.8 – Opening Net Cash 6.8 2.0 – Translation 0.5 - y Closing Net Cash 5.2 5.8 interim results 2005
Slide 8: Pro forma profit on disposals (UK GAAP)
the roxboro group plc p r o f o r m a p r o f i t o n d i s p o s a l s (U K G A A P) £m Gross Net Pro forma Pro forma Historic Proceeds Proceeds Net Profit P/E EBITDA Sales Assets Mobrey 26.0 20.5 18.1 2.4 - - - Solartron 42.1 33.1 9.8 23.3 - - - 68.1 53.6 27.9 25.7 15.5x 8.6x 1.1x Notes: 1. Additi
Slide 9: Utilisation of disposal proceeds
the roxboro group plc Utilisation of disposal proceeds £m Gross proceeds* 68.1 Expenses (5.5) Tax (9.0) (14.5) 53.6 Pension funding (7.0) 46.6 ‘C’ Share 86p (26.7)** Special dividend 64p (19.9)** (46.6) - * Excludes adjustments interim results ** Fully diluted basis 2005
Slide 10: IFRS implemented as at 1 January 2005
the roxboro group plc y IFRS implemented as at 01 January 2005 – One year’s comparative date y Overall impact limited to a few key areas: – Pensions – Development costs – Discontinued operations – Goodwill – Employee share options (future periods) interim results 2005
Slide 11: Balance sheet as at 30 June 2005
the roxboro group plc y Balance sheet as at 30 June 2005 – reduction in net assets of £4.6m y 2004 IFRS operating profit before goodwill – increased by £2.7m interim results 2005
Slide 12: Profit for 6 months ended 30 June 2005
the roxboro group plc profit for 6 months ended 30 June 2005 £m Operating profit – continuing operations UK GAAP 2.4 IFRS adjustments - pensions 0.2 - development costs 0.1 Central (1.1) Rounding (0.1) IFRS reported 1.5 Net finance cost – continuing operations UK GAAP - IFRS adjustments - pensions (
Slide 13: The Roxboro Group PLC Interim Results 6 Months to 30th June 2005
The Roxboro Group PLC Interim Results 6 Months to 30th June 2005 12 September 2005 interim results 2005