Resultados del año completo
19 de marzo de 2024
OBJETIVO: MPAC
grupo mpac plc
("Mpac", "la Compañía" o "el Grupo")
Full Year Results for the 12 months to 31 December 2023
FY23 in line with market expectations and positive outlook for FY24
Mpac Group, the global packaging and automation solutions Group, today announces its results for the 12 months to 31 December 2023 ("FY23").
The Group has delivered a strong trading performance for FY23 in line with market expectations, with significantly increased revenue and profit, aided by the normalisation of margins throughout the year and record order intake.
Aspectos financieros más destacados
£ 'm | FY23 | FY22 | Cambios |
Ingesta de pedidos | 118.5 | 83.8 | + 41% |
Libro de pedidos de cierre | 72.5 | 67.2 | + 8% |
Los ingresos totales | 114.2 | 97.7 | + 17% |
- Service revenue | 31.8 | 23.1 | + 38% |
- Original Equipment revenue | 82.4 | 74.6 | + 10% |
Beneficio legal antes de impuestos | 4.7 | 0.2 | |
Ganancias / (pérdidas) básicas por acción | 13.1p | (2.2) p | |
Beneficio subyacente * antes de impuestos | 7.1 | 3.5 | + 103% |
Ganancias subyacentes* por acción | 26.2p | 13.3p | + 97% |
Efectivo neto / (deuda) | 2.1 | (4.7) |
*Non-underlying items include pension costs, acquisition-related items and reorganisation costs
Aspectos destacados operativos y estratégicos
· Strong financial performance, aided by the normalisation of margins through 2023, returning the Group to revenue and profit growth, and positive net cash.
· Good progress broadening the Group customer base - 37% of Original Equipment orders won came from new customers, including new global strategic accounts with potential for future orders over many years.
· Significant growth in Services, now representing 28% of Group revenue, increased from 24% prior year.
· Leadership team strengthened, with new Managing Director appointments in the UK and US, new Operations, Supply Chain and Service Directors in the Americas, and new Group appointments in HR and Global Strategic Accounts.
· Integration of the Switchback business completed, with the deployment of Group ERP system in the US.
· Clean Energy sector continues to develop well, commissioning the Freyr Customer Qualification Plant in Norway, starting pre-engineering work for Freyr's Giga America and for Ilika's SiSTEM pilot line in the UK.
· New five-year product roadmap launched, setting out the Group's priorities for innovation to deliver future growth.
Perspectivas y comercio actual
· The Group has started 2024 positively and trading is in line with expectations.
· Order intake is encouraging, and we have a healthy and diverse pipeline of prospects which means we are well positioned for the year ahead.
Adam Holland, director ejecutivo, comentó:
"I am delighted to present my first full year report as Chief Executive of Mpac Group plc, announcing performance in line with expectations. In 2023, the Group built momentum, reporting a substantial increase in revenue and profit in H2 2023 over the first half of the year. Since joining the Group, I have said on many occasions that Mpac is defined by Mpac people. I have been impressed by the capability and dedication of Mpac people to serve our customers and to deliver on our commitments. It is due to their hard work and expertise that we can report record levels of order intake in 2023 and to start 2024 with a strong and diverse order book providing good coverage of future revenues."
grupo mpac plc Adam Holanda, director ejecutivo Will Wilkins, director financiero del grupo | Tel: + 44 (0) 24 7642 1100 |
Shore Capital (Asesor designado y Broker) Asesor Patrick castillo Ian Sexton Corretaje henry willcocks
| Tel: + 44 (0) 20 7408 4050
|
liberum (Articulación Broker) Edward Mansfield Will King Anake Singh
hudson sandler nick lyon Nick Moore | Tel: + 44 (0) 20 3100 2000
Tel: + 44 (0) 20 7796 4133 |
REVISIÓN DE FUNCIONAMIENTO
adam holanda
Introducción
In my first full year with Mpac, and as Chief Executive since May 2023, my focus has been on our customers, our people and our strategy.
Meeting with new and existing customers, the impact that Mpac can have on production in our customers' facilities is immediately apparent. Our equipment sits at the heart of our customers' operations, assembling and packaging the products that their businesses produce. From the smallest business introducing automation for the first time, to the largest multinational blue chip corporation rolling out the latest factory expansion, Mpac's performance is critical to the value that our customers create. Our expertise, depth of understanding and customer insight is what sets us apart. Our focus on our customers in 2023 resulted in an uptick in Service performance, an increase in new equipment opportunities and record levels of order intake, providing the Group with a solid pipeline and a strong and diverse order book going into 2024.
During 2023 I visited each of the Mpac operating sites and was fortunate enough to spend time with very nearly every member of the global team. As a project-based business, our people are critical to our success. From our most recent apprentices to our most experienced colleagues, the dedication and focus that our people bring to Mpac is outstanding. It is particularly encouraging to see engineering hours increasing through the year as we bring new people into the Group, complete training, and deploy them to project activities. These activities, along with the actions that drive employee engagement and retention, have been essential in supporting the growth delivered in 2023, and setting the path for future years.
As part of my onboarding with the Group, and with the support of the Board, this year we also critically assessed the Group's strategy. The strategy has delivered growth since 2016 and continues to provide a solid foundation for future growth today. In 2022 the Group was impacted by short-term operational issues which affected semiconductor supply chains globally, but performance in 2023 has demonstrated that the Group's fundamentals are sound. Maintaining a clear and stable strategy helps our teams to focus on what is important, finding new ways to deliver on firm objectives. In 2023 we saw an acceleration in growth, as we started to implement new ways of delivering strategic change, focusing on accessing the opportunities in the attractive markets in which we operate.
Operationally, the Group delivered a strong performance in 2023, growing Original Equipment ("OE") and Service order intake and revenue whilst improving margins, and making good progress with the unwinding of working capital. Mpac operates in large, resilient markets and has a significant opportunity to increase market share. By remaining focused on executing the long-term strategy of developing order intake growth, improving margins through the development of our Service business, and increased operational efficiencies, the Group will continue to deliver profitable growth.
The scale of the opportunity with our customers in attractive growth markets is clear. The Board and I are excited about the next growth phase for the Group, and we remain well placed to deliver on our long-term strategy.
Actualización estratégica
Under our stable Group strategy, we have adopted an updated set of strategic initiatives, linked to a new five-year financial plan under which we seek to deliver double digit annual growth from the Group's existing businesses and achieve a sustainable double digit return on sales. A key element of our growth strategy is to focus on extending our customer base with new global blue chip key accounts and in 2023 Mpac was successful in securing orders from several of the newly targeted global customers, thereby providing a strong platform for future growth. These blue chip customers chose Mpac due to the quality of our engineered solutions, our ability to provide flexible automation and packaging solutions and our global support infrastructure.
Our strategy remains focused on our core markets, but with a broadening customer base, an extended product portfolio and a well-executed Service offering.
Our updated strategy focuses on the following five pillars to drive growth:
Going for Growth - Offering customers automation and packaging solutions in our target markets, growing our capacity to support customers and supporting the development of our commercial team with a new programme: Sales Excellence.
Outstanding Customer Service - Deployment of new business tools to support our Service teams, thereby growing our global field service capacity. We provide our customers with a comprehensive portfolio of service products to ensure they maximise their return on investment.
Excelencia Operacional - Focusing on project execution, including project management, engineering, operations and supply chain processes, supported by integrated resource planning to drive shorter project lead times and on-time-in-full delivery.
Innovación - A comprehensive programme to extend our product, including packaging technology and further development of our battery cell assembly capabilities.
Gente - Increasing employee engagement, talent acquisition, development and retention.
Yendo por el crecimiento
Our ambition is to broadly double revenue from our existing businesses over our five-year strategic planning period. Our addressable end market is substantial, resilient to wider macro-economic cycles and growing. The Group's objective is to deliver sustainable growth in our key end markets, capturing market share by increasing the number of touch points with our customers and the amount of time that we spend with them. In response to these objectives, we have increased the size of our commercial team and appointed additional experienced senior leaders. Furthermore, in 2023 we invested extensively in brand awareness and marketing, exhibiting at the flagship Interpack (Europe) and Pack Expo (US) trade shows and launching our first SEO programme to drive online presence. In 2024 we will continue to expand our commercial teams and introduce a comprehensive sales excellence programme to optimise our prospect pipeline and conversion rate.
Our opportunity in Clean Energy remains a focus for the Group. In July 2021, the Group signed a contract with FREYR Battery ("FREYR"), a developer of clean, next-generation battery cell production capacity, incorporating 24M Technologies (''24M'') battery platform technology, for the supply of casting and unit cell assembly equipment to the battery cell production line at FREYR's Customer Qualification Plant in Norway. The equipment supplied by Mpac will support FREYR in achieving its ambitious plans for a more sustainable future through semi-solid lithium-ion technology. Mpac brings production equipment, services and know-how in the automation of production processes, applied in this project to industrialise the battery cell production. In June 2023, we were awarded a pre-engineering order to begin work to scope the requirements for Gigafactory production lines for FREYR. In October 2023 we were also awarded an engineering contract for Ilika plc, to support their work on scaling up solid-state lithium-ion technology, further cementing our position in the Clean Energy sector. The Group continues to work closely and collaboratively with FREYR, 24M, Ilika and others in the development of battery cell production capability.
Excelente Servicio al Cliente
We have made excellent progress in growing our Service business, supported by expanding the field service and technical resources located in the regions where our customers operate. Our goal remains to generate a sustainable 30% of Group revenue from these services and we are well on track to meet this target after a very strong 2023. We will continue to help our customers meet their operational needs by developing the experience and capacity of our Service team, aided by the deployment of Service business tools to both enhance our customers' experience and to provide business intelligence. The development of digital service products with advanced engineering, information management, connected services and machine insights underpins our offering and ensures that our customers can fully embrace Industry 4.0.
Excelencia Operacional
Our strategic objective remains consistent: building an increasingly flexible organisation which can respond with agility to our customers' needs, leveraging our global resources. Our global ERP and business systems blueprint, already implemented in our facilities in the Netherlands, Canada and the UK, was successfully rolled out to our facility in the US in H1 2023 and provides the Group with a single, fully flexible, operating model. The updated strategic plan for operational excellence will now focus on project execution, with programmes for our project managers, engineering, and operations teams. The goal is to further leverage our resources to reduce lead times and maximise utilisation between the facilities.
Innovation
In 2023 we made significant progress in the development of our battery cell assembly capabilities and introduced to the market the concept of our first top load robotic cartoner, which will provide Mpac with access to a significant additional market segment. The next phase of our innovation roadmap will complete this launch, followed by a comprehensive and ambitious programme to extend our cartoning and end of line product offering.
Personas
Our employees are critical to the success of our Group. In 2023 we elevated our focus on people with the appointment of a senior HR leader, furthering our attention on development, talent acquisition, retention, and engagement. During 2023 we also added HR managerial bandwidth, and are proud to have completed the second year of our Mpac Leadership Academy. The 17 graduates from two cohorts of Mpac Academy now extend the pool of future leaders available to the Group.
Ambiental, Social y Gobernanza
We are fully committed to improving our Environmental, Social & Governance (''ESG'') performance in all areas, meeting our own needs without compromising the ability of future generations to meet theirs. Sustainability is also increasingly important to our customers. Our engineered automation and packaging solutions provide customers with sustainable and environmentally sound equipment that support the global megatrends of reduction in packaging, particularly single-use plastics, reducing waste and energy use, and increasing overall equipment effectiveness. Our end-to-end capabilities help our customers to achieve their sustainability goals.
Our approach to our people and the communities in which we operate as well as governance considerations, will be set out in our 2023 ESG report to be published in the first half of 2024.
Estrategia de adquisición y actualización
The Board continues to seek out and evaluate potential acquisition opportunities. Our focus is to identify businesses that will enhance our customer proposition in automation and packaging solutions by extending our product range and our access to a broader range of customers in our key market sectors. The Company will provide updates on acquisitions when appropriate to do so.
Outlook
Full year 2023 order intake was the highest ever for Mpac and the Group built momentum throughout 2023, reporting a substantial increase in revenue and profitability over the prior year. This momentum has continued into 2024, with trading in line with expectations. The Group ended the year in a net cash position, aided by working capital improvements which are expected to continue in FY24. Our balance sheet remains healthy and provides us with the ability to invest in the Group for growth.
We have an expanding order book and prospect pipeline from our existing and target blue chip customers and an exciting new product development roadmap to launch in the coming years. Under our new strategic and five-year plans we are seeking to deliver OE and Service growth at improved margins, doubling revenue from our existing businesses by the end of the strategic period. The Board believes the Group's long-term prospects are strong and that the Group is well positioned to meet its strategic objectives.
adam holanda
Director
REVISIÓN FINANCIERA
Wilkins
Ingresos y funcionamiento dE TRATAMIENTOS
Group revenue of £114.2m (2022: £97.7m) represents an increase of 17% compared to the previous year. OE revenue increased by 10% to £82.4m (2022: £74.6m), underpinned largely by growth in EMEA and Asia. Services revenue grew by 38% to £31.8m (2022: £23.1m), driven predominantly by growth in the Americas and EMEA, assisted by the first service projects in the Clean Energy sector. The rate of revenue growth in all regions benefited from the reduction in supply chain lead times and more consistent supplies of key electronic components.
Overall order intake for the Group grew by 41% to £118.5m (2022: £83.8m), due primarily to the reversal of prior deferrals in customer investment decision making in the light of a more positive global economic outlook. We made good progress with the closing 2023 order book which increased to £72.5m (2022: £67.2m). The value of the closing order book continues to provide good coverage over the forecast 2024 revenue. We remain vigilant to project execution risk and the operational efficiency of the business.
As anticipated, revenue and profit before tax in H2 2023 were substantially above H1 2023, aided by the normalisation of margins through 2023 with full year underlying operating profit of £7.8m (2022: £3.9m), a 100% increase on 2022 and in line with market guidance.
Underlying profit before tax for the year of £7.1m (2022: £3.5m), net of third party interest charges of £0.7m (2022: £0.4m), was 103% up on 2022 and in line with revised market guidance.
The extension of project build times in 2022 was partially reversed during 2023, leading to lower working capital and significantly improved cash generation during the year.
Individual OE contracts, and to a lesser extent the Service contracts, can be sizeable. Accordingly, a few significant orders can have a disproportionate impact on the growth rates seen in individual sectors and regions from year to year.
Equipo original
OE order intake of £86.3m (2022: £57.2m) was 51% above the prior year due to customer orders being delayed from 2022 and the growing confidence in the markets we serve. OE revenues of £82.4m (2022: £74.6m) were 10% ahead of the prior year.
OE revenue generated in the Americas region was level with the prior year at £40.8m (2022: £40.9m).
In EMEA, OE revenue in the year was £34.0m (2022: £27.8m), a growth of 22% due primarily to a recovery in the performance of our traditional markets of Healthcare, Food and Beverages offsetting the lower revenue from Clean Energy. OE revenue in Asia was £7.6m (2022: £5.9m).
Service
Order intake for the Service division was 21% above 2022 at £32.2m (2022: £26.6m). Service revenue of £31.8m (2022: £23.1m) was 38% above the prior year.
Service revenue in the Americas showed strong growth at £15.9m compared to £11.9m in 2022, with the increase being driven largely by the healthcare and food & beverage sectors. EMEA revenue in the year was £13.8m compared to £9.7m in 2022, driven by the commencement of service for the Clean Energy sector and an appealing product proposal in the key markets of Healthcare and Food & Beverage. Asia revenue in the year was £2.1m compared to £1.5m in 2022.
Resultados de OPERACION
El beneficio bruto fue de 31.6 millones de libras esterlinas (2022: 24.4 millones de libras esterlinas) y los costes subyacentes de venta, distribución y administración fueron de 23.8 millones de libras esterlinas (2022: 20.5 millones de libras esterlinas).
Underlying operating profit was £7.8m (2022: £3.9m). Underlying profit after tax was £5.3m (2022: £2.7m) and statutory profit for the year was £2.7m (2022: loss of £0.4m).
Non-underlying items merit separate presentation in the consolidated income statement to allow a better understanding of the Group's financial performance, by facilitating comparisons with prior periods and assessments of trends in financial performance. Pension costs, acquisition-related items, reorganisation costs and property transactions are considered non-underlying items as they are not representative of the core trading activities of the Group and are not included in the underlying profit before tax measure reviewed by key stakeholders.
Net financing income was £0.8m (2022: £0.2m). Tax on underlying profit before tax was £1.8m (2022: £0.8m). The tax charge on the Group's profit before tax was £2.0m (2022: £0.6m).
Reconciliation of underlying profit antes tax to profit before tax
2023 | 2023 | 2022 | 2022 | |
£ m | £ m | £ m | £ m | |
Beneficio subyacente antes de impuestos |
| 7.1 | 3.5 | |
Elementos no subyacentes Régimen de pensiones de prestaciones definidas: otros costes e intereses |
0.4 |
|
(0.8) | |
Costo de adquisición | - |
| (0.3) | |
Costos de reorganización | (1.2) |
| (0.6) | |
Amortización de activos intangibles adquiridos | (1.6) |
| (1.6) | |
Total de elementos no subyacentes |
| (2.4) | (3.3) | |
Beneficio antes de impuestos |
| 4.7 | 0.2 |
Dividendos
Habiendo considerado las oportunidades de inversión en el crecimiento del Grupo, el Directorio ha decidido que no es apropiado pagar un dividendo complementario. No se pagó ningún dividendo a cuenta en 2023. El Directorio considerará los futuros pagos de dividendos en el contexto de futuras oportunidades de crecimiento y cuando el Directorio considere prudente hacerlo.
Actividades de caja, tesorería y financiación
Cash at the end of the year was £11.0m (2022: £4.2m) with £8.0m of borrowings drawn at both the 2023 and 2022 year ends. Net cash inflow before reorganisation was £13.1m (2022: outflow of £12.8m) after a decrease in working capital of £4.7m (2022: outflow of £17.7m) and defined benefit pension payments of £2.3m (2022: £2.1m). Reorganisation costs of £0.8m (2022: £0.8m) were paid in the year. Net taxation payments were £1.1m (2022: £0.4m). Capital expenditure on property, plant and equipment was £1.1m (2022: £1.0m), and capitalised product development expenditure was £1.5m (2022: £1.4m). Net current assets at the end of the year were £15.1m (2022: £12.2m) and net assets at the year end were £64.0m (2022: £62.2m).
The Group entered into a three-year funding agreement with HSBC in 2022, which provides the Group with a £20.0m revolving credit facility (''Facility'') to support future growth. The Facility also provides several other opportunities to proactively manage the Group's cash and ensure that the Group is well placed to react to opportunities, both organic and acquisition related, as they arise. The Group utilised £8.0m of the Facility in the year.
There were no significant changes during 2023 in the financial risks, principally currency risks and interest rate movements, to which the business is exposed, and the Group treasury policy has remained unchanged. The Group does not trade in financial instruments and enters into derivatives (mainly forward foreign exchange contracts) solely for the purpose of minimising currency exposures on sales or purchases in currencies other than the functional currencies of its various operations.
Capital de explotación
The global supply chain issues experienced in 2022 began to ease in early 2023, though supply chain lead times remain extended compared to earlier years, with the consequent extension of the Group's working capital cycle. The improvements in supply chain management led to £4.7m of cash being generated from working capital movements in the year, compared to a £17.7m outflow of funds into working capital in 2022. Further improvements in working capital levels are anticipated throughout 2024.
Esquema de pensiones
The Group is responsible for defined benefit pension schemes in the UK and the US, in which there are no active members.
La valoración según la NIC 19 de los activos y pasivos del esquema del Reino Unido se realizó el 31 de diciembre de 2023 y se basó en la información utilizada para el trabajo de valoración de la financiación al 30 de junio de 2021, actualizada para reflejar tanto las condiciones al final del año 2023 como los requisitos específicos. de la NIC 19. Los planes de beneficios definidos de EE. UU. más pequeños se valoraron al 31 de diciembre de 2023, utilizando datos actuariales al 1 de enero de 2023, actualizados para las condiciones existentes al final del año. De acuerdo con la NIC 19, el Grupo ha optado por reconocer todas las ganancias y pérdidas actuariales fuera del estado de resultados.
The IAS 19 valuation of the UK scheme resulted in a net surplus at the end of the year of £32.2m (2022: £31.5m) which is included within the Group's assets. The value of the scheme's assets at 31 December 2023 was £309.0m (2022: £311.2m) and the value of the scheme's liabilities was £276.8m (2022: £279.7m). Despite the continuing volatility in financial markets around the world in 2023, the scheme's protection strategies, notably its use of Liability Driven Investments, ensured that the surplus was protected.
Las valoraciones de la NIC 19 de los planes de pensiones de EE. UU. mostraron un déficit neto agregado de 1.8 millones de libras esterlinas (2022: 2.1 millones de libras esterlinas) con activos totales de 7.7 millones de libras esterlinas (2022: 8.1 millones de libras esterlinas).
During the year the Company made payments to the UK defined benefit scheme of £2.0m (2022: £2.0m).
The UK scheme's triennial valuation as at 30 June 2021 reported a deficit of £28.4m. The contributions are £2.0m per year, increasing at 2.1% per year, with a recovery period of four years and six months. The scheme deficit on a triennial valuation basis had reduced ahead of this projection at 31 December 2023.
Equidad
Group equity at 31 December 2023 was £64.0m (2022: £62.2m). The movement arises mainly from the profit for the year of £2.7m, a net actuarial loss in respect of the Group's defined benefit pension schemes of £1.7m and changes in the fair value of cash flow hedges of £0.8m; all figures are stated net of tax where applicable.
Wilkins
Director de Finanzas del Grupo
CUENTA DE RESULTADOS CONSOLIDADA
2023 | 2022 | |||||||
Note |
Subyacente £ m |
No subyacente (nota 3) £ m |
Total £ m |
Subyacente £ m |
No subyacente (nota 3) £ m
|
Total £ m | ||
Ingresos
El costo de ventas
|
2 |
114.2
(82.6)
|
-
-
|
114.2
(82.6)
|
97.7
(73.3)
|
-
-
|
97.7
(73.3)
| |
Beneficio bruto
Gastos de distribución Gastos administrativos Otros gastos operacionales
| 31.6
(8.8) (14.6) (0.4)
| -
- (3.9) -
| 31.6
(8.8) (18.5) (0.4)
| 24.4
(8.1) (11.9) (0.5)
| -
- (3.9) -
| 24.4
(8.1) (15.8) (0.5)
| ||
Beneficio operativo
| 2, 3 | 7.8
| (3.9)
| 3.9
| 3.9
| (3.9)
| -
| |
Ingresos financieros Gastos financieros
| - (0.7)
| 1.5 -
| 1.5 (0.7)
| - (0.4)
| 0.6 -
| 0.6 (0.4)
| ||
Financiamiento (gasto) / ingreso neto |
(0.7) |
1.5 |
0.8 |
(0.4) |
0.6 |
0.2 | ||
Beneficio antes de impuestos
Taxation
|
| 7.1
(1.8)
| (2.4)
(0.2)
| 4.7
(2.0)
| 3.5
(0.8)
| (3.3)
0.2
| 0.2
(0.6)
| |
Beneficio del período | 5.3 | (2.6) | 2.7 | 2.7 | (3.1) | (0.4) | ||
Utilidad / (pérdida) por acción ordinaria | ||||||||
Basic
Diluido | 5
5
|
|
| 13.1p
13.1p
| (2.2) p
(2.2) p |
DECLARACIÓN CONSOLIDADA DE INGRESO COMPRENSIVO
2023 £ m
|
2022 £ m
| ||||
Beneficio del período
| 2.7 | (0.4) | |||
Otros ingresos / (gastos) integrales |
| ||||
Partidas que no se reclasificarán a resultados Pérdidas actuariales
Impuesto sobre elementos que no se reclasificarán a resultados
|
|
(1.7)
- |
(5.0)
1.3 | ||
| (1.7) | (3.7) | |||
Partidas que pueden reclasificarse posteriormente a resultados Movimientos de conversión de moneda que surgen de inversiones netas en moneda extranjera
Porción efectiva de cambios en el valor razonable de las coberturas de flujos de efectivo
Reclasificado a resultados desde reserva de cobertura
|
(0.9)
0.4
1.3 |
2.1
(1.3)
- | |||
| 0.8 | 0.8 | |||
Otros ingresos / (gastos) integrales del período
| (0.9) | (2.9) | |||
Total de ingresos / (gastos) integrales del período
| 1.8 | (3.3) | |||
ESTADO DE CAMBIOS EN PATRIMONIO NETO CONSOLIDADO
Compartir capital £ m |
Compartir producto de más alta calidad. £ m |
Traducción reserva £ m | Capital redención reserva £ m |
Cobertura reserva £ m |
retenido ganancias £ m |
Total equidad £ m | |
Saldo al 1 de enero de 2022 |
5.0 |
26.0 |
0.3 |
3.9 |
(0.5) |
30.7 |
65.4 |
Beneficio del período
Otros (gastos) / ingresos integrales del período
|
-
-
|
-
-
|
-
2.1
|
-
-
|
-
(1.3)
|
(0.4)
(3.7)
|
(0.4)
(2.9)
|
Total (gasto) / ingreso integral del período
Transacciones basadas en acciones liquidadas mediante acciones Compra de acciones propias |
-
-
0.1
|
-
-
-
|
2.1
-
- |
-
-
-
|
(1.3)
-
-
|
(4.1)
0.1
(0.1)
|
(3.3)
0.1
-
|
Total de transacciones con propietarios, registradas directamente en patrimonio
| 0.1
| -
| -
| -
| -
| -
| 0.1
|
Saldo al 31 de diciembre de 2022
| 5.1
| 26.0
| 2.4
| 3.9
| (1.8)
| 26.6
| 62.2
|
Beneficio del período
Otros (gastos) / ingresos integrales del período
|
-
-
|
-
-
|
-
(0.9)
|
-
-
|
-
1.7
|
2.7
(1.7)
|
2.7
(0.9)
|
Total (gasto) / ingreso integral del período
Transacciones basadas en acciones liquidadas mediante acciones Compra de acciones propias |
-
-
-
|
-
-
-
|
(0.9)
-
-
|
-
-
- |
1.7
-
-
|
1.0
-
-
|
1.8
-
-
|
Total de transacciones con propietarios, registradas directamente en patrimonio
| -
| -
| -
| -
| -
| -
| -
|
Saldo al 31 de diciembre de 2023
| 5.1
| 26.0
| 1.5
| 3.9
| (0.1)
| 27.6
| 64.0
|
|
|
ESTADO CONSOLIDADO DE POSICIÓN FINANCIERA
Note | 2023 £ m | 2022 £ m | ||
Activos no corrientes Activos intangibles Propiedad, planta y equipo. Propiedad de inversión Activos por derecho de uso Beneficios para el empleado Activos por impuestos diferidos
|
4
|
24.0 4.1 0.8 5.9 32.2 0.9
|
25.4 4.0 0.8 5.0 31.5 1.3
| |
| 67.9
| 68.0
| ||
Activos circulantes Los inventarios Cuentas comerciales y otras cuentas por cobrar Activos por impuestos corrientes Efectivo y equivalentes de efectivo |
|
11.1 46.8 1.1 11.0 |
9.6 47.3 0.6 4.2 | |
| 70.0 | 61.7 | ||
Pasivo circulante Pasivos por arrendamiento Comerciales y otras cuentas a pagar Pasivos por impuestos corrientes Provisiones Préstamos y empréstitos que devengan intereses
|
|
(1.3) (43.8) (0.9) (0.9) (8.0)
|
(1.4) (39.0) (0.1) (1.0) (8.0) | |
(54.9) | (49.5) | |||
Activos corrientes netos | 15.1 | 12.2 | ||
Activos totales menos pasivos corrientes | 83.0 | 80.2 | ||
Pasivos no corrientes Préstamos y empréstitos que devengan intereses Beneficios para el empleado Pasivos por impuestos diferidos Pasivos por arrendamiento
|
4
|
(0.9) (1.8) (11.4) (4.9)
|
(0.9) (2.1) (11.1) (3.9)
| |
(19.0) | (18.0) | |||
Activos netos | 64.0 | 62.2 | ||
Equidad Capital emitido Compartir premium Reservas Ganancias retenidas |
|
5.1 26.0 3.8 29.1 |
5.1 26.0 2.1 29.0 | |
Equidad total | 64.0 | 62.2 |
ESTADO DE FLUJO DE EFECTIVO CONSOLIDADO
Note | 2023 £ m | 2022 £ m | ||
Actividades de explotaciónBeneficio operativoElementos no subyacentes incluidos en el beneficio operativo AmortizaciónDepreciaciónUtilidad en la venta de propiedad, planta y equipo Otras partidas no monetariasPagos de pensiónMovimientos de capital circulante:- (aumento) / disminución de inventarios- decrease / (increase) in contract assets- disminución/(aumento) en deudores comerciales y otras cuentas por cobrar- (disminución)/aumento de acreedores comerciales y otras cuentas por pagar- (disminución)/aumento de provisiones- (disminución)/aumento de pasivos contractuales
|
3.9 3.9 0.8 2.1 - - (2.3)
(1.7) 1.7 (0.3) 1.8 (0.1) 3.3
|
- 3.9 0.9 2.0 - 0.2 (2.1)
(3.7) (5.9) (6.3) 1.7 0.5 (4.0) | ||
Flujos de efectivo de operaciones continuas antes de la reorganizaciónCostos de adquisición y reorganización pagados |
| 13.1
(0.8)
| (12.8)
(0.8) | |
Flujos de efectivo de las operacionesImpuestos pagados
| 12.3
(1.1)
| (13.6)
(0.4) | ||
flujos de efectivo por actividades operacionales | 11.2 | (14.0) | ||
Actividades de inversiónIngresos por venta de propiedades, planta y equipoGastos de desarrollo capitalizados Adquisición de propiedades, planta y equipoFlujo de efectivo neto en la adquisición / pago de la contraprestación diferida |
|
- (1.5) (1.1) -
|
- (1.4) (1.0) (0.8) | |
Flujos de efectivo utilizados en actividades de inversión
| (2.6)
| (3.2) | ||
Actividades de financiaciónPago interesadoCompra de acciones propiasProducto de préstamosElementos principales de los pagos por arrendamiento
|
(0.7) - - (1.1)
|
(0.3) - 8.0 (1.1) | ||
Flujos de efectivo utilizados en actividades de financiación
| (1.8)
| 6.6 | ||
Aumento / (disminución) neto de efectivo y equivalentes de efectivo Efectivo y equivalentes de efectivo al 1 de enero Efecto de las fluctuaciones del tipo de cambio en el efectivo mantenido
|
|
6.8 4.2 -
|
(10.6) 14.5 0.3 | |
Efectivo y equivalentes de efectivo al 31 de diciembre de 2023 | 11.0
| 4.2 |
NOTAS AL ANUNCIO
1. Información General
The Group's financial statements have been prepared in accordance with UK-adopted International Accounting Standards and with the requirements of the Companies Act 2006. that were effective at 31 December 2023.
La información financiera establecida anteriormente no constituye las cuentas estatutarias de la Compañía para los años terminados el 31 de diciembre de 2023 o 2022. Las cuentas estatutarias para 2022 se han entregado al Registro de Compañías. Los auditores han informado sobre las cuentas estatutarias de 2023 y 2022; sus informes fueron (i) sin reservas, (ii) no incluyeron referencias a ningún asunto sobre el cual los auditores llamaron la atención a modo de énfasis sin calificar sus informes y (iii) no contenían declaraciones bajo la sección 498 (2) o (3) de la Ley de Sociedades de 2006.
2. Segmentos operativos
Información de segmento
| 12 meses hasta el 31 de diciembre de 2023 | 12 meses hasta el 31 de diciembre de 2022 | |||||||
|
|
| OE £ m | Service £ m | Total £ m | OE £ m | Service £ m | Total £ m | |
Ingresos América EMEA Asia-Pacífico |
|
|
40.8 34.0 7.6 |
15.9 13.8 2.1 |
56.7 47.8 9.7 |
40.9 27.8 5.9 |
11.9 9.7 1.5 |
52.8 37.5 7.4 | |
Total |
|
|
82.4 |
31.8 |
114.2 |
74.6 |
23.1 |
97.7 | |
Beneficio bruto |
|
|
|
|
31.6 |
|
|
24.4 | |
Venta, distribución y administración |
|
|
|
| (23.8)
| (20.5)
| |||
Beneficio operativo subyacente
Elementos no subyacentes no asignados incluidos en el beneficio operativo
|
|
|
|
| 7.8
(3.9) | 3.9
(3.9) | |||
Beneficio operativo
Ingresos financieros netos
|
|
|
|
| 3.9
0.8 | -
0.2 | |||
Beneficio antes de impuestos |
|
|
|
|
4.7 |
0.2 | |||
|
|
|
Sector information
Ingresos (by customer sector) | |||||||
| 2023 £ m |
| 2023 % | 2022 £ m | 2022 % | ||
|
|
| |||||
Alimentación y bebidas Healthcare Otro | 45.8 41.6 9.1 17.7 |
| 40 36 8 16 | 45.7 30.1 11.1 10.8 | 47 31 11 11 | ||
| 114.2
|
| 100
| 97.7
| 100
|
La información geográfica
Ingresos (por ubicación del cliente) | |||||||
| 2023 £ m |
| 2023 % | 2022 £ m | 2022 % | ||
|
|
| |||||
UK Europa (excepto Reino Unido) Estados Unidos de America Asia-Pacífico | 18.4 28.4 1.1 49.8 6.8 9.7 |
| 16 25 1 44 6 8 | 9.2 26.7 1.6 45.8 7.0 7.4 | 9 27 2 47 7 8 | ||
| 114.2
|
| 100
| 97.7
| 100
|
3. Elementos no subyacentes
| 2023 £ m
| 2022 £ m
| ||
Costo de adquisición Costos de reorganización Amortización de activos intangibles adquiridos Costos e intereses de administración del plan de pensiones de prestaciones definidas | - (1.2) (1.6) 0.4
| (0.3) (0.6) (1.6) (0.8)
| ||
Gasto no subyacente total antes de impuestos | (2.4) | (3.3) |
4. Beneficios a los empleados
The Group accounts for pensions under IAS 19 Employee benefits.
The most recent formal actuarial valuation of the scheme was carried out as at 30 June 2021 using the projected unit credit method. The market value of the scheme assets at that date was £431.4m and the funding level was 94% of liabilities, which represented a deficit of £28.4m. The principal terms of the deficit funding agreement between the Company and the Fund's Trustees, which is effective until 31 December 2035, but is subject to reassessment every three years are that the Company will continue to pay a sum of £2.0m per annum to the scheme (increasing at 2.1 per cent. per annum) in deficit recovery payments.
The funding agreement focuses the scheme and the company on achieving a funding level which should permit the scheme to achieve risk transfer to an alternative arrangement which the company would not be liable for the performance of. Based on annual tests, once the funding level on a technical provisions basis reaches 103%, contributions will be redirected to an escrow account which can only be used by the scheme to either enable risk transfer or remedy a future deficit arising and would be returned to the company should risk transfer be achieved without the funds being required. Should the funding level reach 110% of technical provisions (including the value of the escrow account), contributions cease.
The deficit recovery period from 30 June 2021 was estimated to be four years and six months, which is scheduled to be formally reassessed following the completion of the actuarial valuation being carried out as at 30 June 2024.
Las valoraciones formales de los planes de beneficios definidos de EE. UU. Se llevaron a cabo al 1 de enero de 2023, y se han aplicado sus supuestos, actualizados para reflejar la experiencia y las condiciones reales al 31 de diciembre de 2023 y modificados según corresponda a los efectos de la NIC 19.
Profit before tax includes charges in respect of the defined benefit pension schemes' administration costs of £1.1m (2022: £1.4m) and a net financing income on pension scheme balances of £1.5m (2022: £0.6m). In respect of the UK scheme, the Group paid deficit recovery contributions of £2.0m (2022: £2.0m). Contributions to the US scheme totalled £0.2m (2022: £0.2m)
Las prestaciones a los empleados incluyen el activo neto de pensiones del plan de pensiones de prestaciones definidas del Reino Unido de 32.2 millones de libras esterlinas (2022: 31.5 millones de libras esterlinas) y el pasivo neto de pensiones de los planes de pensiones de prestaciones definidas de EE. UU. De 1.8 millones de libras esterlinas (2022: 2.1 millones de libras esterlinas), todos cifras antes de impuestos.
5. Beneficio por acción
Basic earnings per ordinary share is based upon the profit for the period of £2.7m (2022: loss of £0.4m) and on a weighted average of 20,474,424 shares in issue during the year (2022: 20,261,505). The weighted average number of shares excludes shares held by the employee trust in respect of the Company's long-term incentive arrangements.
Las ganancias subyacentes por acción ordinaria ascendieron a 26.2 peniques para el año (2022: 13.3 peniques) y se basan en las ganancias subyacentes del período de 5.3 millones de libras esterlinas (2022: 2.7 millones de libras esterlinas), que se calculan sobre las ganancias antes de los elementos no subyacentes.
6. Conciliación del flujo de efectivo neto con el movimiento de fondos netos
| 2023 £ m
| 2022 £ m
| ||
Aumento / (disminución) neto de efectivo y equivalentes de efectivo
| 6.8
| (10.6)
| ||
Cambio en los fondos netos resultante de los flujos de efectivo
Movimientos de traducción
| 6.8
-
| (10.6)
0.3
| ||
Movimiento de fondos netos en el período
Apertura de fondos netos
Movement in interest bearing loans and borrowings
Movimiento en pasivos por arrendamiento
| 6.8
(10.0)
-
(0.9)
| (10.3)
7.6
(8.0)
0.7
| ||
Cierre de fondos netos
| (4.1)
| (10.0)
|
7. Análisis de fondos netos
| 2023 £ m
| 2022 £ m
| ||
Efectivo y equivalentes de efectivo - activo corriente Interest-bearing loans and borrowings - current liabilities Préstamos y empréstitos que devengan intereses - pasivo no corriente Pasivos por arrendamiento | 11.0 (8.0) (0.9) (6.2) | 4.2 (8.0) (0.9) (5.3) | ||
Cierre de fondos netos
| (4.1) | (10.0) |
8. Annual Report and Accounts
Se notificará a los accionistas, alrededor del 31 de marzo de 2024, sobre la disponibilidad del Informe Anual y las Cuentas, junto con el Aviso de la Asamblea General Anual ("AGM") de la Compañía, a través de un anuncio del Servicio de Información Regulatoria. Las copias de los documentos estarán disponibles en el sitio web del Grupo en www.mpac-group.com. Los accionistas que hayan elegido recibir una copia impresa del Informe Anual y las Cuentas, junto con la Notificación de la Junta General, los recibirán poco después. Los detalles de los arreglos para votar en la AGM también se notificarán a los accionistas al mismo tiempo. La AGM se llevará a cabo a las 12 del mediodía del 15 de mayo de 2024 en las oficinas de Hudson Sandler LLP, 25 Charterhouse Square, Londres, EC1M 6AE.
RNS puede usar su dirección IP para confirmar el cumplimiento de los términos y condiciones, para analizar cómo interactúa con la información contenida en esta comunicación y para compartir dicho análisis de forma anónima con otros como parte de nuestros servicios comerciales. Para obtener más información sobre cómo RNS y la Bolsa de Valores de Londres utilizan los datos personales que nos proporciona, consulte nuestra Política de privacidad.