Business
NWF : Full Year Results 2021
NWF : Full Year Results
About this update from Nwf Group Plc
NWF Group plc Final results to May 2021 Groupoverview Leadershipteam Anexperienced andcapableteam Richard Whiting Chris Belsham Chief Executive Group Finance Director Key skills Experience Key skills • Strategy and leadership Joined in 2007. Previously group finance director • Finance • Sales and marketing of Heywood Williams Group plc, after joining as • Mergers and acquisitions • Operations business development director from Brand-Rex • Strategy • Finance Ltd, where he was managing director • Mergers and acquisitions of the datacom division. NWFGROUPPLC 2 FINAL RESULTS TO MAY 2021 Experience Joined as Group Finance Director in 2017. Previously an equity partner and head of corporate finance at Irwin Mitchell LLP having joined the business in 2014 from KPMG Corporate Finance. Qualified as a Chartered Accountant with PwC in 1999. Groupoverview NWFGROUPPLC 3 Keyhighlights FINAL RESULTS TO MAY 2021 NWFisaspecialist distributorof fuel, food and feed acrosstheUK Summary Strong track record of delivering increased shareholder returns Group operates in large stable markets Strong cash generation with dividend growth Clear growth strategy Fuels Supplying fuel to commercial and domestic customers across the UK Third largest oil distributor in the UK 695 million litres delivered in 2021 Road diesel, gas oil, heating oil and petrol 25 depots across the UK 146 tankers delivering fuel 127,000 customers both commercial and domestic Five acquisitions since 2019 in a fragmented market Food The leading North West ambient grocery consolidator Boughey Distribution is a leading consolidator of ambient grocery products Over 1 million ft 2 of modern, racked warehousing in Cheshire 135,000 pallet spaces 117 trucks and 305 trailers Over 200 contracted ambient grocery customers Feeds Delivering nutritional advice and feed to ruminant farmers across the UK Second largest national ruminant feed supplier - feeds one in six dairy cows Feed mills in Cumbria, Cheshire and Devon 575,000 tonnes sold in 2021 4,550 farming customers 40 trucks and 18 trailers Principally dairy, also beef and sheep Groupoverview NWFGROUPPLC 4 Resultssummary FINAL RESULTS TO MAY 2021 Strongresultsaheadof pre-pandemic market expectations Revenue Headline operating profit 1 Headline profit before tax 1 £675.6m £12.9m £11.9m -1.7% -9.8% -9.8% 21 21 21 £675.6m £12.9m £11.9m 20 20 20 £687.5m £14.3m £13.2m 19 19 19 £671.3m £10.2m £9.7m Headline earnings per share 1 Net debt Dividend per share 20.4p £5.7m 7.2p -5.1% EBITDA ratio: 0.3x +4.3% 21 21 21 20.4p £5.7m 7.2p 20 20 20 21.5p £12.3m 6.9p 19 19 19 15.8p £10.4m 6.6p 1 Stated before exceptional items, amortisation of acquired intangibles and the net finance cost of the Group's defined benefit pension scheme and the tax effect thereon where relevant. The calculation of headline earnings excludes the exceptional impact of remeasuring deferred tax balances. Headline EPS for the year ended 31 May 2020 has been re-presented on a like-for-like basis. Fuels Operatinghighlights Outperformance Traded ahead of expectations supported by our commercial strategy, a cold winter and extended home working Successful deployment of strategy to increase gas oil share of commercial business Managed volatile and generally increasing oil costs over the period with Brent Crude moving from $38 per barrel to over $70 a barrel at year end Prior year benefitted from a significant fall in the oil price Launched NWF Priority Club with an App for tank monitoring and auto top-up Invested as planned in skills and capability to support future development Acquisitions integrated and performing strongly: Acquisition pipeline building Revenue Operating profit Volume (litres) £447.8m £9.3m 695m -4.8% -15.5% +4.5% 21 447.8 21 9.3 21 695 20 470.2 20 11.0 20 665 19 443.0 19 5.6 19 552 NWFGROUPPLC 5 FINAL RESULTS TO MAY 2021 This is an excerpt of the original content. To continue reading it, access the original document here .