Business
LPA : 2022 Annual Report and Accounts
LPA : 2022 Annual Report and
About this update from Lpa Group Plc
STRATEGIC REPORT | CHAIRMAN'S STATEMENT LPA GROUP PLC Annual Report & Accounts 2022 ANNUAL REPORT & ACCOUNTS 2022 1 LPA Group Plc Manufacturing the future LPA GROUP Is a market leading designer, manufacturer and supplier of high reliability LED lighting, electronic and electromechanical systems, and a distributor of engineered components Employs approximately 140 people at three locations in the UK Is focused on rail, aviation, defence, infrastructure and industrial markets Has developed a successful export capability and global distribution network. Around a third of turnover is exported to over 50 countries Is known for innovating cost-effective engineering solutions in hostile and challenging applications, to improve product reliability, reduce maintenance and life cycle costs Supplies to a wide range of leading organisations including Alstom, Avanti, BAA, BAE Systems, CAF, Compin, CRRC, Downer EDI, First Group, Grammer, Heathrow Airport, Hitachi, ITW GSE, Kinki Sharyo, Knorr Bremse, Leonardo, Omer, Shanghai Pudong Airport, Siemens, SNCF, Stadler, Spirit Aerospace, Taiwan Rolling Stock Company, Transport for London, Unipart Rail and Wabtec 2 ANNUAL REPORT & ACCOUNTS 2022 Financial & Operational Highlights For the Year ended 30 September 2022 2022 2021 £000 £000 Order Entry 19,689 23,163 Order Book 27,762 27,350 Revenue 19,325 18,265 Underlying Operating (Loss) * (226) (274) Share Based Payments & Exceptional Items 1,310 (74) Profit/(Loss) before Tax 1,074 (387) Basic Earnings/(Loss) Per Share 8.99p (0.17)p Gearing ** 3.5% 11.9% Operating Profit/(Loss) before Share Based Payments and Exceptional Items ** Net Debt as a % of Total Equity Through the year to 30 September 2022, the year included the following highlights and operational developments: Record year for our new LED tube product with significant orders from UK and worldwide customers. This is an important step as we approach the September 2023 ban across the EU on the sale of old technology fluorescent tubes. Excellent year for new Plane Power range of products with customers now including - Heathrow, Shanghai, Beijing, Copenhagen, Melbourne, Auckland, Stockholm and Schiphol airports. Appointment of first employee outside of the UK in support of growth plans for the DACH region. This is an essential resource in support of some of the biggest rolling stock customers in the world. Continued growth of distribution network to support growth plans for both our electronic / lighting, and electromechanical business divisions. Successful delivery of the Viaggio Nightjet / ÖBB project, which is the most technically advanced intelligent lighting system ever undertaken by the Group. This is a flagship platform for the customer with further follow-on orders expected. ANNUAL REPORT & ACCOUNTS 2022 1 Contents FINANCIAL & OPERATIONAL HIGHLIGHTS 1 STRATEGIC REPORT 5 Chairman's Statement 5 Business Model and Strategy 8 Environmental, Social and Governance 10 Chief Executive Officer's Review 12 Financial Review 14 Principal Risks and Uncertainties 18 Key Performance Indicators 20 BOARD REPORTS 21 Audit Committee Report 22 Remuneration Report 23 Corporate Governance Report 26 Directors' Report 33 COMPANY INFORMATION 37 GROUP FINANCIAL STATEMENTS 41 Independent Auditor's Report to the Members of LPA Group plc 42 Consolidated Income Statement 50 Consolidated Statement of Comprehensive Income 51 Consolidated Balance Sheet 52 Consolidated Statement of Changes in Equity 53 Consolidated Cash Flow Statement 54 Notes to the Financial Statements 56 COMPANY FINANCIAL STATEMENTS 89 Company Balance Sheet 90 Company Statement of Changes in Equity 91 Company Notes to the Financial Statements 92 OTHER INFORMATION 99 NOTICE OF MEETING 102 FORM OF PROXY 107 ANNUAL REPORT & ACCOUNTS 2022 3 This is an excerpt of the original content. To continue reading it, access the original document here .