Autins : Presentation of Interim Results to 31 March 2023

Autins Group - Interim Results Presentation

Six months ended 31 March 2023

Agenda

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Financials

Operational Highlights and Markets

Investing for Future Profitable Growth

Summary and Outlook

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01 Financials

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Financial Highlights

Key Financials	H1 FY23	H1 FY22	H2 FY22 £m
£m	£m
Revenue	10.8	9.4	9.4
Gross Profit	3.1	2.4	1.9
Gross margin %	28.2%	25.1%	19.9%
EBITDA (IFRS16)	0.4	(0.4)	(0.8)
Loss before taxation	(0.9)	(1.4)	(2.2)
Taxation (inc R&D tax credit)	0.0	0.0	0.3
Loss after taxation	(0.9)	(1.4)	(1.9)
Net Operating Cash	0.4	(0.4)	(0.2)
Cash and cash equivalents	1.3	2.8	1.8
Net Debt (IFRS16)*	(2.4)	(1.0)	(2.0)
Cash Headroom	3.5	5.2	3.7
EPS	(1.65)p	(2.83)p	(3.00)p

H1 23 v H1 22

£m/pence

1.4

0.7

3.1

0.8

0.5

0.0

0.5

0.7

(1.5)

(1.4)

(1.7)

1.18p

• Revenue Increased 15.4% YoY
• Gross Margin% improved Pricing, Materials &Costs

• Coupled, with further overhead restructuring…… EBITDA improved accordingly

• OWC - further optimisation - Bank cash increased since Q1
• Post Period end: Further improvements planned

*Net debt is stated prior to IFRS16 adjustments.

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Cashflow H1 FY23

Statutory Cash Flow	£k	Subtotal
H1 FY23
Operating activities	360
Debtors	(1,250)
Creditors	577
Inventory	670	357
Capex	(157)	(157)
Lease Liabilities IFRS 16	(385)
Finance Costs	(323)	(708)
	(508)	(508)

• Pricing, margins and restructuring actions delivered fast to impact H1 cashflow and bank position.
• £0.7m targeted action to improve stock and release some of the (pandemic) safety buffers….
• £0.6m Creditors increase, in line with growth and revenues
• £1.2m absorption into Debtors, but this arises from sales increase
• Capital Debt repayments were deferred for the period based on lender agreements.
• CapEx continues - key machine investment in Germany to support growing sales, with better unit cost

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