Slide 1: Full Year Results: Year ended 31 March 2020
Full Year Results: Year ended 31 March 2020 Chairman: Robin Williams Chief Executive : John Foster 23 June 2020
Slide 2: Results Overview: Year ended 31 March 2020
Results Overview : Year ended 31 March 2020 Underlying pre tax profits £3.7m, down 3.9% (2019: £3.9m) FIC: Profits up 37% to £2.1m (2019 : £1.5m) – Increased housebuilding & expanded rental portfolio. Momart: PBT down 35% at £1.0m (2019 £1.6m) due to weakness in global commercial art market an
Slide 3: FIH Group: Impact of Covid-19
FIH Group : Impact of Covid -19 Short Term - Hit of £0.25m to profits in y/e 31 March 2020 PHFC : Ferry passenger volumes fell sharply from mid March creating losses in final month ( £0.15m hit to profit ) Momart : Cancellation of international art movements from late February ( £0.1m hit) F
Slide 4: FIH March 2020 Results: Trading Overview
FIH March 2020 Results : Trading Overview FIC: FIC revenue up 23% to £21.7m (2019: £17.6m) Operating profit + 37% at £2.1m (2019: £1.6m). Strong growth in FBS house sales tripling prior year revenue to £5.0m. First FIG contract for 18 houses 63% complete at 31 March with further expansion post
Slide 5: Trading Overview: Year ended 31 March 2020
Trading Overview : Year ended 31 March 2020 FIH group plc 2020 2019 Change £’000 £’000 % Group Revenue 44,600 42,528 4.9 Underlying trading profit 4,565 4,377 4.3 FIC Pension scheme financing costs (65) (72) -9.7 Lease interest ( 2020 per IFRS 16) (340) (235) 44.7 Net Bank interest payable (451) (21
Slide 6: Split by Business: Year ended 31 March 2020
Split by Business : Year ended 31 March 2020 FIH group plc 2020 2019 Change £’000 £’000 % Revenue FIC 21,671 17,554 23.5 PHFC 4,125 4,367 -5.5 Momart 18,804 20,607 -8.7 Total Revenue 44,600 42,528 4.9 Underlying Pre-tax profit FIC 2,057 1,505 36.7 PHFC 635 784 -19.0 Momart 1,017 1,569 -32.2 Underlyi
Slide 7: Falkland Islands Company (FIC)
Falkland Islands Company (FIC) 7
Slide 8: FIC: Trading overview
FIC : Trading overview Year ended 31 March 2020 2019 Change £ million £ million % Revenue Retail 10.02 9.72 3.1 Falklands 4x4 3.18 3.05 4.3 FBS (construction) 5.01 1.53 224.8 Freight & Port services 0.75 0.78 -4.2 Support Services 2.04 2.00 1.9 Property Rental 0.67 0.47 43.3 Total FIC revenue 21.67
Slide 9: FIC Overview: Year ended 31 March 2020
FIC Overview : Year ended 31 March 2020 Revenue ahead by 23.4% at £21.7m (2019: £17.6m) to record levels PBT +37% at £2.1m (2019: £1.6m). Retail - Overall sales +3.1% to £10.0m. Small increase in overall contribution. West Store sales + 3.8%. Strong foodhall sales but competitive pressure re
Slide 10: FIC – New rental properties completed during year
FIC – New rental properties completed during year 10
Slide 11: FIC Overview continued: Year ended 31 March 2020
FIC Overview continued: Year ended 31 March 2020 3rd party freight & Port Services – down 4.2% at £0.75m Support Services - Revenues + 1.9% to £2.04m. Mixed performance but contribution up 5% vs prior year Fishing Agency – weaker illex squid catch in April / May 2019 . Penguin Travel reven
Slide 12: FIC – FIG Contract – New build by FBS
FIC – FIG Contract – New build by FBS 12
Slide 13: FIC: Outlook June 2020
FIC : Outlook June 2020 Core domestic business stable. Residential rental portfolio to be grown further FBS activity maintained plus new tender opportunities with FIG / MoD Further income from specialist civils team and road construction etc Coronavirus expected to severely restrict cruise
Slide 14: Momart: Fine art storage facilities, Leyton East London
Momart : Fine art storage facilities, Leyton East London 14
Slide 15: Momart: Trading Summary
Momart : Trading Summary Revenue 2020 2019 Change £ 000’s £ 000’s % Museums & Public Exhibitions 10,772 11,003 -2.1 Gallery Services 5,848 7,539 -22.4 Storage 2,184 2,065 5.8 Total Revenue 18,804 20,607 -8.7 Operating Profit 1,469 1,730 -15.1 Bank & Lease Interest (452) (161) 180.7 Pre Tax Profit 1,
Slide 16: Momart: Year ended 31 March 2020
Momart : Year ended 31 March 2020 Overall revenue lower by 15.1% ( -£1.8m) at £18.8m (2019: £20.6m) Exhibition / Museum revenue down 2.1% to £10.8m (2019: £11.0m), But UK market share maintained for large exhibitions. GS Revenues – down £1.7m (-22.4%) to £5.9m. Weak global commercial art m
Slide 17: Momart: Leyton Units now 87% full – 13k sq ft to let
Momart : Leyton Units now 87% full – 13k sq ft to let 17
Slide 18: Momart – Current Trading and Outlook
Momart – Current Trading and Outlook Lock- down and social distancing has led to temporary closure of galleries , museums and cancellation of all major art fairs. Storage income maintained but loss of all normal art handling revenue in Q1 Decline in revenue has led to losses despite govt furlo
Slide 19: Gosport Ferry (PHFC)
Kk Gosport Ferry (PHFC) Portchester Portsmouth Pontoon Gosport x ¥ ‘ } re Fratton Portsmouth Avierstoke Southsea Spinnaker Tower
Slide 20: Gosport Ferry (PHFC) – Trading P&L
Gosport Ferry (PHFC) – Trading P&L Revenues 2020 2019 Change £ million £ million % Ferry fares 3.93 4.15 -5.1 Other revenue 0.20 0.22 -13.0 Total Revenue 4.13 4.37 -5.5 Operating Profit 0.98 1.08 -9.9 Net Bank interest (0.07) (0.07) -8.3 Pontoon lease finance interest (0.27) (0.23) 21.2 Profit befor
Slide 21: Gosport Ferry: Year ended 31 March 2020
Gosport Ferry : Year ended 31 March 2020 Ferry revenues fell by 5.5%, to £4.13m (2019: £4.37m). Passenger volumes hit hard in March by early impact of COVID-19 More than 50% of overall revenue reduction in year was due to coronavirus lock- down. Fare rises averaged 3% in June 2019. Adult R
Slide 22: Gosport Ferry – Current Trading and Outlook
Gosport Ferry – Current Trading and Outlook Lock-down had dramatic effect on passenger traffic from mid March 2020 Volumes down 90% in April – only essential workers travelling 50% of workforce furloughed and 20% pay cuts accepted by all ferry personnel. Heavy Q1 losses despite cost saving m
Slide 23: Gosport Ferry (PHFC)
Tate www.gosportferry.co.uk }
Slide 24: Outlook - June 2020
Outlook - June 2020 FIC: FIC remains profitable - domestic demand has been substantially unaffected by COVID-19 Reduction in tourist numbers expected to dampen normal uplift in activity in austral summer. Momart : Currently loss making Gradual re-opening of art market commenced from earl
Slide 25: FIH: Strategy
FIH : Strategy Short term focus on mitigating impact of COVID-19 in UK, preserving cash resources and essential fabric of UK operations. FIC: Maintain strength of core services in Stanley. Expand low risk property rental portfolio and construction arm. Opportunities from government & MoD infra
Slide 26: Appendices
Appendices Cash Flow, Balance Sheet, Net Borrowings & Liquidity.
Slide 27: Cash flow - for the year ended 31 March
Cash flow - for the year ended 31 March Cash Flow 2020 2019 £’000 £’000 Operating profit 4,565 4,377 Depreciation and amortisation * ( 2020 per IFRS 16 ) 2,063 1,437 Provision for share based payments 97 69 Tax paid (659) (560) Increase in working capital (1,444) (2,470) Fall in HP debtors & cash in
Slide 28: Balance sheet at 31 March
Balance sheet at 31 March All figs £ ‘000’s 2020 2019 Tangible Fixed Assets 41,712 38,664 Investment properties at net book value 6,458 5,239 Goodwill & Intangibles 4,246 11,766 Deferred tax asset & HP receivable after 1 year 1,543 1,652 Total non current assets 53,959 57,321 Working Capital - Net 5
Slide 29: Borrowings, Cash & Liquidity
Borrowings, Cash & Liquidity 31-Mar 31-Mar All figs £ ‘000’s 2020 2019 Bank Loans (15,734) (12,814) Property leases ( 2020 under IFRS 16)* (1,889) - HP on Momart Trucks (691) (248) Total borrowings & HP (18,314) (13,062) Cash balances 9,108 6,184 Net (debt) / cash excl. Pontoon lease (9,206) (6,878)
Slide 30: FIH group plc
y S FIH group plc