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Investor Presentaiton

STRIX TECHNOLOGY Capital Allocation Prudent Capital Allocation Model with 4 core priorities Operating Cash Flow (£m) 22.3 2021 2020 2019 Investor Presentation | FY2021 Final Results 22.3 31.2 34.4 02 Value Accretive Acquisitions 01 Operating Capital Expenditure Net Capital Expenditure Land & Factory (£m) (£m) 2021 7.1 2020 8.3 2019 9.4 4.7 9.1 6.0 2021 1.6 2.7 2020 2019 1.0 1.0 11.6 Acquisitions Exceptional Costs 3.1 Year-on-year growth demonstrates Strix's continued investment in its manufacturing and development assets to support our strategic growth objectives. Acquisition of LAICA S.p.A in October 2020 for an initial consideration of €11.9m. Highly targeted acquisitions remain an important part of the Group's value creation strategy. Operating Cash Flow Fall in operating cash flow in 2021 predominantly driven by Group's investment in net working capital in the current year. Net working capital movements in FY2021 increased, reflecting a cash outflow of £11.4m compared to prior year, as a result of increased stock holdings at year-end due to forward procurement of commodities to secure future profits, increased debtors in line with an increase in the top line, and also due to VAT receivables, which will be reclaimed in FY 2022/2023. 03 Progressive Dividend Policy Pence per Share 2021 2020 2019 7.70 7.85 Conservative Balance 04 Sheet (£m) 2021 8.35 2020 2019 Net Debt 37.2 26.3 Strix TECHNOLOGY Net Debt/ Adj. EBITDA 51.2 1.3x 1.0x Growth in line with the Group's Adjusted PAT, reiterating the intention to implement a progressive dividend policy that is linked to underlying earnings for the full year. Net debt increased to £51.2m, which equates to a 1.3x trailing twelve months' EBITDA, comparing favourably to the Group's debt covenant of 2.5x. 0.7x 12
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