Severfield Full Year Results - 26 March 2022
Full Year Results
26 March 2022
Severfield Full Year Results - 26 March 2022
Alan Dunsmore
Chief Executive Officer
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Severfield Full Year Results - 26 March 2022
A compelling investment case
Exciting growth prospects
- Aligned to sectors with strong growth potential in UK and Europe
- Significant opportunity to grow profits in India
Built on a platform of operational excellence
- Continued momentum from operational improvement initiatives
- Well invested business with >£50m CAPEX over last eight years
All underpinned by a strong
focus on sustainability
- Internal roadmap to net zero by 2040
- Top UK construction business in FT climate change listing
Resilient business
through economic cycles
- Sector, geographical and client diversity
- Good earnings visibility from record order book and strong pipeline
Delivering strong returns,
cash generation and progressive dividend
- Five year average ROCE >15%
- Typically convert >85% of profits into cash
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Severfield Full Year Results - 26 March 2022
Resilient profit performance
PBT £m
30
28.6 | |
27.1 | |
25 | 24.7 |
24.3
23.5
20 | 19.8 |
Six year CAGR 13%
15
13.2
10
Brexit, COVID-19, and inflationary pressures
2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
- Combined profits of over £160m in the last 7 years
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Severfield Full Year Results - 26 March 2022
Headlines
- Revenue up 11% to £403.6m
- Underlying profit before tax up 11% to £27.1m - demonstrates our resilience in challenging market conditions
- Net debt of £18.4m - reflects normalisation of working capital, inflation and higher steel purchases
- Record UK and Europe order book of £486m - good earnings visibility through 2023
- Return to profitability for India - group share of profit of £0.8m
- Strong and growing India order book of £158m
- Underlying basic EPS up 12% at 7.2p per share
- Total dividend up 7% to 3.1p per share
- Expectations for 2023 are unchanged despite current inflationary pressures
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Severfield plc published this content on 16 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 June 2022 12:13:01 UTC.