Fevara Plc · LSE:FVA
Fevara — Carr's Group — FY2016 Earnings Presentation
19 slides from Fevara's earnings presentation, November 2016
Slide 1: Preliminary Results Presentation
Preliminary Results Presentation November 2016 1
Slide 2: The Agenda
THE AGENDA 1. Introduction | Tim Davies, CEO 2. Financial Results | Neil Austin, Group FD 3. Group Strategic Vision | Tim Davies, CEO 4. Divisional Review 5. Summary 6. Q&A 2 2
Slide 3: Results Overview
RESULTS OVERVIEW Revenue decreased 4.9% to £314.9m (2015: £331.3m) Continuing operations EBITDA increased 6.6% to £16.5m (2015: £15.5m*) Operating profit increased 5.6% to £12.8m (2015: £12.1m*) Pre-tax profit increased 2.8% to £14.1m (2015: £13.7m) Basic EPS increased 7% to 10.7p (2015: 1
Slide 4: Financial Review: Segmental Analysis
FINANCIAL REVIEW: Segmental Analysis 2016 (£m) 2015 (£m) % Change Segmental revenue (continuing operations): Agriculture 284.8 297.8 -4.4 Engineering 30.1 33.5 -10.2 Total revenue 314.9 331.3 -4.9 EBITDA (continuing operations) 16.5 15.5 +6.6 Segmental operating profit (continuing operations): Agric
Slide 5: Financial Review: Balance Sheet
FINANCIAL REVIEW: Balance Sheet At 3 September 2016 At 29 August 2015 % Change £m £m Fixed assets 62.8 83.9 -25.2 Net working capital 40.9 40.7 +0.5 Assets employed 103.7 124.6 -16.8 Pension surplus 0.3 1.8 Net cash / (debt) 8.1 (24.4) Tax provisions (2.0) (3.0) Net assets 110.1 99.0 +11.2 Gearing -
Slide 6: Financial Review: Cash Flow
FINANCIAL REVIEW: Cash Flow 2016 2015 Change Expiry Facility Utilised £m £m % £m 2016 £m EBITDA (continuing operations) 16.5 15.5 +6.6 Working capital facilities 12 month rolling 40.5 18.2 Working capital changes (8.5) (4.1) +107.3 (UK) /2019 Net interest (0.5) (0.5) Working capital facilities 12 mo
Slide 7: Group Strategic Vision
GROUP STRATEGIC VISION To be recognised as a truly international business at the forefront of technology and innovation Strategic Objectives 1. Build value by focusing on markets with growth potential 2. Grow our international footprint 3. Differentiate through innovation and technology 4. Lead in o
Slide 8: UK Agriculture
UK AGRICULTURE PERFORMANCE INVESTMENT STRATEGY OUTLOOK • Compound feed • Retail store • Lead in dairy nutrition • Challenging market volumes: 2.1% development place increase in tonnes o £3.0m investment • Strengthen current sold against a national over last 3 years geographical position • Milk price
Slide 9: Feedblocks International
FEEDBLOCKS INTERNATIONAL PERFORMANCE INVESTMENT RESEARCH GROWTH • Global feedblock sales • Silver Springs, • During the year, 16 • Fill existing expanded up 6% Nevada, USA trials were underway capacity investment ($4m) across the UK, • USA sales growth: commissioned and Europe, North America • New b
Slide 10: USA Feedblock Operations
USA FEEDBLOCK OPERATIONS • Strategic location of feedblock plants near cattle populations • Newer feed block plants, Nevada 3, Iowa 5 and Tennessee 4 • 1 AFS, Belle Fourche, Cattle and Calves Inventory South Dakota • 2 AFS, Poteau, Oklahoma • 3 AFS, Silver Springs, Nevada • 4 Gold-Bar Feed 1 Supplem
Slide 11: Engineering
ENGINEERING PERFORMANCE • Overall divisional operating profit down 4.9% 31% • Revenue from nuclear contracts 69% of total revenues up from 62% last year • Contract delays impacted current year performance 69% • Strengthened management teams Nuclear Oil & Gas/Other 11 11
Slide 12: Engineering: UK Manufacturing and Remote Handling
ENGINEERING UK MANUFACTURING REMOTE HANDLING • Won the Sellafield Vessels and Tanks Category • Performing well in line with expectations Management Framework contract £48 million • Relationship with Sellafield continues to be strong • Oil and Gas market still adversely affected by low oil price • Co
Slide 13: Engineering: Staber and Outlook
ENGINEERING STABER OUTLOOK • Long term strategic partner supplying parts for remote • Strong in the medium term handling business • Ongoing USA opportunities in the nuclear market • Designed and developed specialised IP of strategic importance • Synergies across the Engineering division with joint b
Slide 14: Summary
SUMMARY • Resilient performance against a challenging market backdrop • Outstanding performance by the feedblock business • Strong performance in UK retail driven by investment • UK agricultural market conditions stabilising • Continuing evidence of recovery in the UK nuclear industry • Disposal of
Slide 15: Questions & Answers
QUESTIONS & ANSWERS FOCUSING ON GROWTH MARKETS WORLDWIDE
Slide 16: The Appendices
THE APPENDICES 1. The Group | An Overview 2. Geographic Footprint 16 16
Slide 17: The Group: An Overview
THE GROUP AN OVERVIEW International business focused on two sectors: agriculture and engineering AGRICULTURE ENGINEERING • Manufacture of molasses-based branded • A remote handling business designing feedblocks for farm animals in the UK, and manufacturing bespoke manipulators Germany and USA e.g. C
Slide 18: Geographic Footprint
GEOGRAPHIC FOOTPRINT INTERNATIONAL DISTRIBUTION AGRICULTURE ENGINEERING WK cons EUROPEAN DISTRIBUTION EUROPEAN DISTRIBUTION ¢ 3 ict @HEAD OFFICE @ENGINEERING — @ AGRICULTURE Carrs [Br ~ Group pic |
Slide 19: Carr's Group plc contact details
Carr’s Group plc, Old Croft, Stanwix, Carlisle, Cumbria, UK CA3 9BA Telephone: +44 (0) 1228 554600 Email: [email protected] 19 19 www.carrsgroup.com