Fih Group Plc · LSE:FIH

Fih — FY2017 Earnings Presentation

30 slides from Fih's earnings presentation, June 2017

  1. Slide 1: Full Year Results: Year ended 31 March 2017

    Full Year Results: Year ended 31 March 2017 Chief Executive : John Foster

  2. Slide 2: Overview: Year ended 31 March 2017

    Overview : Year ended 31 March 2017  Underlying pre tax profits £2.4m (2016: £3.1m) – 22% as expected  FIC: As expected profits returned to normal levels (£1.16m) post oil exploration in 2016  Momart: underlying PBTa +55% (£0.7m) - new warehouse open Mar 17  PHFC: Contribution 4% ahead of prior

  3. Slide 3: FIH March 2017 Results: Trading Overview

    FIH March 2017 Results : Trading Overview  FIC: Return to more normal trading pattern following rig’s departure – Retail , 4x4 and high margin rental income sharply down. Overheads reduced by £0.3m . Growth at FBS house building and in Penguin Travel but overall PBTa down 40% at £1.16m (2016 £1.94m

  4. Slide 4: Trading Overview: Year ended 31 March 2017

    Trading Overview : Year ended 31 March 2017 FIH group plc 2017 2016 Change +/- £’000 £’000 Group Revenue 40,494 38,996 3.8% Operating profit 2,805 3,307 -15.2% Group share of SAtCO JV 24 200 -88.0% Trading Profit 2,829 3,507 -19.3% FIC Pension scheme financing costs -88 -90 -2.2% Pontoon lease inter

  5. Slide 5: Split by Business

    Split by Business : Year ended 31 March 2017 FIH group plc 2017 2016 Change +/- £’000 £’000 Revenue FIC 17,828 18,495 -3.6% PHFC 4,286 4,244 1.0% Momart 18,380 16,257 13.1% Total Revenue 40,494 38,996 3.8% Underlying Pre-tax profit FIC 1,159 1,937 -40.2% PHFC 713 684 4.2% Momart 709 457 55.1% Momart

  6. Slide 6: Falkland Islands Company (FIC)

    Falkland Islands Company (FIC) 6

  7. Slide 7: FIC Overview: Year ended 31 March 2017

    FIC Overview : Year ended 31 March 2017  FIC Revenue down 3.6% to £17.8m (2016: £18.5m) (H2 – 12.6% vs oil boost in 2016)  Overall retail sales down -5.5% at £9.14m ( -8.3% in H2),with added pressure on margins due to 33% Chandlery expansion  West Store sales -6.2%. Gift Shop - 12.7%  Home-Care

  8. Slide 8: FIC: Trading overview

    FIC : Trading overview Year ended 31 March 2017 2016 Change £ million £ million % Revenue Retail 9.14 9.66 -5.5 Falklands 4x4 3.02 3.93 -23.0 FBS (construction) 2.68 1.81 48.5 Freight & Port services 0.93 0.90 3.8 Support Services 1.63 1.63 -0.7 Property Rental 0.42 0.57 -25.0 Total FIC revenue 17.8

  9. Slide 9: FIC: Redeveloped Crozier Place

    FIC : Redeveloped Crozier Place 9

  10. Slide 10: FIC: New Container & Freight Yard

    FIC: New Container & Freight Yard 10

  11. Slide 11: FIC: Outlook

    FIC : Outlook  Chandlery expansion in Nov 2016 will impact West Store sales in H1  Improved illex squid catch in 2017  Break even cost Sea Lion now $45bbl – Premier Oil finalising Field Development Plan in 2017 – actively seeking Farm-in partner.  Ongoing renewal of MPA infrastructure providing

  12. Slide 12: Momart: Expanded storage space at Leyton, East London

    Momart : Expanded storage space at Leyton, East London 12

  13. Slide 13: Momart: 4th Plinth – Trafalgar Square

    Momart : 4th Plinth – Trafalgar Square Fourth Plinth 2016, Really Good by David Shrigley. Photo courtesy of Greater London Authority ©Gautier Deblonde 13

  14. Slide 14: Momart: Sales Analysis Year ended 31 March 2017

    Momart : Sales Analysis Year ended 31 March 2017 Momart – year ended 31 March 2017 2016 Variance Variance £ 000’s £ 000’s £ 000’s % Revenue Exhibitions 10,056 8,390 1,666 19.9% Gallery Services 6,294 5,822 472 8.1% Storage 2,030 2,045 -15 -0.8% Total Revenue 18,380 16,257 2,123 13.1% Revenue from Ov

  15. Slide 15: Momart: Year ended 31 March 2017

    Momart : Year ended 31 March 2017  Revenue up 13.1% to £18.38m (2016: £16.26m)  Record level of Exhibition / Museum revenue £10.06m (2016 £8.39m)+20%  Notable recent exhibitions: “Abstract Expressionism” at the Royal Academy, “Sunken Cities” at the British Museum, “Painters Paintings” and Caravag

  16. Slide 16: Momart: Trading Summary

    Momart : Trading Summary Momart - Year ended 31 March 2017 2017 2016 Change £ 000’s £ 000’s % Museums & Public Exhibitions 10,056 8,390 19.9% Gallery Services 6,294 5,822 8.1% Storage 2,030 2,045 -0.8% Total Revenue 18,380 16,257 13.1% LfL Operating Profit 723 460 57.2% Start up Loss on new warehous

  17. Slide 17: Momart: Increased focus on commercial art market

    Momart : Increased focus on commercial art market 17

  18. Slide 18: Gosport Ferry (PHFC)

    ¥ 3} Gosport Ferry ( PHFC ) HMS Warrior Old Portsmouth Blue Reef Aquarium, National Museum of 17 mites 4 MINUTES tay Y

  19. Slide 19: Gosport Ferry (PHFC) – Trading P&L

    Gosport Ferry ( PHFC ) – Trading P&L Revenues 2017 2016 Change £ million £ million % Ferry fares 4.13 4.09 0.8% Other revenue 0.16 0.15 -5.9% Total Revenue 4.29 4.24 1.0% Operating Profit 1.06 1.03 2.9% Boat mortgage loan interest (0.12) (0.12) Pontoon lease finance interest (0.23) (0.23) -0.9% Prof

  20. Slide 20: Gosport Ferry: Year ended 31 March 2017

    Gosport Ferry : Year ended 31 March 2017  Ferry revenues ahead by 1% at £4.29m ( 2016: £4.24m)  Fare rises averaging 3% in June 2016  Adult Return fares £3.40 (2015-6: £3.30) ( £3.50 from June 2017 )  Promotional fares to boost demand (Bikes Go Free / Family Saver tickets, Park & Float )  Passe

  21. Slide 21: Gosport Ferry (PHFC)

    Gosport ds ~~ Portsmouth 21

  22. Slide 22: FIH: Strategy

    FIH : Strategy Group:  Continuing search for strategic, added value acquisitions  Leverage cash flow to increase scale & critical mass FIC:  Focus on increased efficiency & cash generation pending development of oil / expansion of tourism Momart :  Secure returns from expanded storage – leverage

  23. Slide 23: Outlook - June 2017

    Outlook - June 2017  FIC:  Impact of competitor expansion in H1 will be drag on West Store  But steady local demand gives solid trading backdrop at new base levels  Some stimulus from FIG capital projects post Nov 2017 election  Momart :  Newly opened storage facilities – initial drag on profi

  24. Slide 24: Appendices

    Appendices Cash Flow, Balance sheet, Net borrowings & liquidity, Acquisition Criteria.

  25. Slide 25: Cash flow - for the year ended 31 March

    Cash flow - for the year ended 31 March Cash Flow 2017 2016 £’000 £’000 Operating profit 2,805 3,307 Depreciation and amortisation 1,451 1,459 Provision for share based payments 15 61 Takeover costs paid -365 0 Tax paid -336 -324 (Increase) / decrease in working capital -1,101 507 Restructuring cost

  26. Slide 26: Balance sheet

    Balance sheet All figs £ ‘000’s 31 March 31 March 2017 2016 Tangible Fixed Assets 20,147 19,930 Investment properties at net book value 3,723 3,632 Goodwill & Intangibles 11,846 12,037 Deferred tax asset & HP due after 1 year 1,780 1,578 Total non current assets 37,496 37,177 Working Capital - Net 1

  27. Slide 27: Borrowings, Cash & Liquidity

    Borrowings, Cash & Liquidity All figs £ ‘000’s 31 March 31 March 2017 2016 Bank Loans* (3,828) (3,264) HP on Momart Trucks (214) (309) Total borrowings & HP (4,042) (3,573) Free Cash 15,079 14,037 Net cash excl 50 year Pontoon lease 11,037 10,464 Long term Pontoon Finance Lease (4,797) (4,828) Total

  28. Slide 28: Acquisition Criteria 2017

    Acquisition Criteria 2017  Direct synergies with its existing operations desirable but not essential  Sectors of interest:  Support services (incl. fine art services & storage)  Transport & Specialist logistics  Also :  Industrial services / B2B services / general  Oil services  Consumer ser

  29. Slide 29: Acquisition Criteria 2017 cont.

    Acquisition Criteria 2017 cont.  Location: UK possibly with European / N American links  Key attributes of target businesses include:  Scalable  High added value services in B2B or consumer markets  High barriers to entry  Well established market presence  Pricing power within their markets f

  30. Slide 30: FIH group plc

    y 3 FIH group plc

FIH group — FY2017 Earnings Presentation on 6ix