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FULL YEAR RESULTS – Melrose Resources Plc

Melrose Resources Plc · Mar 1, 2015 · 26 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. FULL YEAR RESULTS – Melrose Resources Plc – slide 1
    Buy Improve Sell Strictly private and confidential Melrose Industries PLC Full Year Results Twelve months to 31 December 2014 March 2015
  2. FULL YEAR RESULTS – Melrose Resources Plc – slide 2
    Contents Sections 1 Highlights 2 Summary financial results 3 Summary of operating divisions 4 Brush 5 Elster 6 Questions 7 Appendix Buy Improve Sell 2
  3. FULL YEAR RESULTS – Melrose Resources Plc – slide 3
    Buy Improve Sell Highlights 3
  4. FULL YEAR RESULTS – Melrose Resources Plc – slide 4
    1 Highlights in 2014 Headline2 profit before tax of 213 million, up 21% (11% at actual currency) and headline 2 proforma earnings per share3 of 15.3p Elster profits up by two thirds (circa 80 million) in the two full years of…
  5. FULL YEAR RESULTS – Melrose Resources Plc – slide 5
    Buy Improve Sell Summary financial results Income performance 5
  6. FULL YEAR RESULTS – Melrose Resources Plc – slide 6
    Income Statement FY 2014 headline growth2 Group m FY 2014 Growth Elster Growth Brush Growth FY 2014 statutory format Revenue 1,377.5 flat 1,050.2 +1% 327.3 -3% Continuing operations Headline operating profit 246.0 +11% 205.5 +14% 65.4…
  7. FULL YEAR RESULTS – Melrose Resources Plc – slide 7
    Revenue growth FY 2014 headline growth2 Group m FY 2014 Growth Elster Growth Brush Growth Revenue growth2 by division compared to 12 months ago Revenue Revenue 1,377.5 1,377.5 flat flat 1,050.2 1,050.2 +1% +1% 327.3 327.3 -3% -3%…
  8. FULL YEAR RESULTS – Melrose Resources Plc – slide 8
    Order intake FY 2014 headline growth2 Group m FY 2014 Growth Elster Growth Brush Growth Order intake growth2 Revenue 1,377.5 flat 1,050.2 +1% 327.3 -3% compared to 12 months ago Headline operating profit 246.0 +11% 205.5 +14% 65.4 -7%…
  9. FULL YEAR RESULTS – Melrose Resources Plc – slide 9
    Revenue and order intake half year trends FY 2014 headline growth2 Group m FY 2014 Growth Elster Growth Brush Growth Revenue growth2 half year trends compared to 12 months ago Revenue Revenue 1,377.5 1,377.5 flat flat 1,050.2 1,050.2…
  10. FULL YEAR RESULTS – Melrose Resources Plc – slide 10
    Headline operating margin 1 FY 2014 headline growth2 Group m FY 2014 Growth Elster Growth Brush Growth Headline1 operating margin Revenue 1,377.5 flat 1,050.2 +1% 327.3 -3% Headline operating profit 246.0 +11% 205.5 +14% 65.4 -7%…
  11. FULL YEAR RESULTS – Melrose Resources Plc – slide 11
    Foreign exchange impact on 2014 results FY 2014 headline growth2 Group m FY 2014 Growth Elster Growth Brush Growth Currency impact on the Group results year on year Revenue 1,377.5 flat 1,050.2 +1% 327.3 -3% Headline operating Headline…
  12. FULL YEAR RESULTS – Melrose Resources Plc – slide 12
    Foreign exchange sensitivities ongoing into 2015 FY 2014 headline growth2 Group m FY 2014 Growth Elster Growth Brush Growth Translation impact on the full year profit of a 10 cent strengthening of US or Euro Revenue 1,377.5 flat 1,050.2…
  13. FULL YEAR RESULTS – Melrose Resources Plc – slide 13
    Diluted earnings per share (EPS) FY 2014 headline growth2 Group m FY 2014 Growth Elster Growth Brush Growth Headline1 diluted EPS calculations - 2014 Revenue 1,377.5 flat 1,050.2 +1% 327.3 -3% Headline operating profit 246.0 +11% 205.5…
  14. FULL YEAR RESULTS – Melrose Resources Plc – slide 14
    Buy Improve Sell Summary financial results Cash performance 14
  15. FULL YEAR RESULTS – Melrose Resources Plc – slide 15
    Profit conversion to cash and capital investment Cash generated from trading (after all costs including tax) Group m FY 2014 Elster Brush FY 2014 headline EBITDA2 conversion to cash (pre-capex) Headline operating profit 246.0 205.5…
  16. FULL YEAR RESULTS – Melrose Resources Plc – slide 16
    Buy Improve Sell Summary financial results Balance Sheet 16
  17. FULL YEAR RESULTS – Melrose Resources Plc – slide 17
    Balance Sheet leverage , pensions, working capital 3 Balance Sheet 31 Dec 31 Dec m 2014 2013 Leverage3 Fixed assets, intangible assets and goodwill 2,604.9 2,853.2 1.8x 2.5x Net Net working capital working capital 106.4 106.4…
  18. FULL YEAR RESULTS – Melrose Resources Plc – slide 18
    Balance Sheet pensions and retirement benefits Balance Sheet 31 Dec 31 Dec m 2014 2013 Fixed assets, intangible assets and goodwill 2,604.9 2,853.2 Net working capital 106.4 126.9 Pensions andretirement Pensions and…
  19. FULL YEAR RESULTS – Melrose Resources Plc – slide 19
    Buy Improve Sell Summary of operating divisions Brush Revenue by end market Elster 5 4 3 2 1 Energy 84% 2 Oil & Gas 3% 3 Industrials 1% 4 Water 11% 5 Other 1% 1 19
  20. FULL YEAR RESULTS – Melrose Resources Plc – slide 20
    24% of Melrose1 Brush 24% of Melrose1 World number one independent supplier of turbogenerators www.brush.eu 20 1. Based on FY 2014 revenue for all continuing businesses
  21. FULL YEAR RESULTS – Melrose Resources Plc – slide 21
    Brush Brush headline results Brush m FY 2014 Growth3 Revenue 327.3 -3% Headline EBITDA 71.7 -5% Headline EBITDA margin % 21.9% -0.5ppts Headline operating profit 65.4 -7% Headline operating margin % 20.0% -0.8ppts Order intake…
  22. FULL YEAR RESULTS – Melrose Resources Plc – slide 22
    76% of Melrose1 Elster 65% of Elster1 Best-in-class products and solutions for 50% of Melrose1 Gas measurement, regulation and the safe control and application of gases www.elster.com/en/gas 21% of Elster1 Meeting the…
  23. FULL YEAR RESULTS – Melrose Resources Plc – slide 23
    Gas Electricity Water Elster Elster headline results Elster4 Gas Electricity Water m FY 2014 Growth3 FY 2014 Growth3 FY 2014 Growth3 FY 2014 Growth3 Revenue 1,050.2 +1% 687.0 +6% 215.7 -4% 147.5 -12% Headline EBITDA 230.1 +12% 176.8…
  24. FULL YEAR RESULTS – Melrose Resources Plc – slide 24
    Buy Improve Sell Questions 24
  25. FULL YEAR RESULTS – Melrose Resources Plc – slide 25
    Buy Improve Sell Appendix 25
  26. FULL YEAR RESULTS – Melrose Resources Plc – slide 26
    Appendix Foreign exchange forward looking Movements Currency movement impact 2014 average rate IMS announcement rate to current spot rate to current spot rate US 10 cent = 4.3m 11 cent = 4.7m 2 cent = 0.9m Euro 10 cent = 8.6m…

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