CML Microsystems Plc

Annual Report and Accounts FY21

Strategic report

Directors' report

Financial statements

Other information

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About us

We develop mixed-signal, RF and microwave semiconductors for global communications markets.

The first choice semiconductor partner to technology innovators,

Vision

together transforming how

the world communicates.

Strategic report

Financial statements

Other information

Financial highlights

01

Operational highlights

01

At a glance

02

Chairman's statement

04

Market opportunity

08

Business model and strategy

10

Key performance indicators and risks

12

Group Managing Director's review

14

Environment, social and governance 18 Directors' report

Board of Directors

24

Senior management team

26

Corporate governance

27

Directors' remuneration report

29

Directors' report

35

Statement of Directors' responsibilities 39

Independent auditor's report

40

Consolidated income statement

46

Consolidated statement of

total comprehensive income

47

Consolidated statement

of financial position

48

Consolidated and Company

cash flow statements

49

Consolidated statement

of changes in equity

50

Company statement of

financial position

51

Company statement of

changes in equity

52

Notes to the financial statements

53

Explanatory letter from

the Chairman

89

Notice of Annual

General Meeting

93

Five‑year record

99

Shareholder information

100

Glossary

IBC

Advisors

IBC

Strategic report

Directors' report

Financial statements

Other information

Financial highlights

12.50

0.01

4.81

2.73

Revenue

Pre-tax profit1

Basic earnings per share

Adjusted EBITDA2

(£m)

- continuing operations

for profit from continuing

(£m)

(£m)

operations attributable to

the ordinary equity holders

of the Company

(p)

(17)%

(99)%

(40)%

(39)%

2020: 15.00

2020: 1.17

2020: 8.02

2020: 4.50

53.45 31.91 22.77 141.13

Shareholders' equity

Net cash

Pre-tax profit1

Basic earnings per share

(£m)

(£m)

- continuing and

for profit attributable

discontinued operations

to the ordinary equity

(£m)

holders of the Company

(p)

+26%

+276%

+1599%

+1472%

2020: 42.39

2020: 8.48

2020: 1.34

2020: 8.98

  1. Change in research and development estimates, see accounting policies note r.
  2. For definition and reconciliation see note 12.

Operational highlights

  • Sale of Storage division for US$49m in cash.
  • Expanded customer engagements through enhanced strategy.
  • Launch of SμRF product range for microwave/millimetre wave applications.
  • Returned over £10m to shareholders via share buyback, dividends and return of capital.
  • Record net cash of £32m at year end.
  • Proposed move to AIM market listing.

CML Microsystems Plc | Annual Report and Accounts FY21

01

At a glance

The Company has long held an outstanding reputation for the quality of its engineering and development teams, supported by a clear strategy, depth of management and strong routes to market.

Cambridge, UK

Essex, UK

Somerset, UK

North Carolina, USA

Group operations

This map is illustrative, but not fully definitive, of our locations. For a full list of our locations please visit our website at cmlmicroplc.com

Wuxi,China

Shanghai, China

Singapore

Key stats

Established

3

Employees

Engineers

worldwide

1968

>40%

147

Design facilities

2021 revenue split by region

40%

47%

13%

Far East

Europe

Americas

02

CML Microsystems Plc | Annual Report and Accounts FY21

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Disclaimer

CML Microsystems plc published this content on 02 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 July 2021 09:21:01 UTC.