Investor Presentaiton
STRIX TECHNOLOGY
Investor Presentation | FY2021 Final Results
Financial Highlights
Revenue (£m)
+25.3%
2021
2020
2019
95.3
96.9
Adjusted Gross Profit (1) (£m)
+20.3%
119.4
2021
2020
2019
Revenue increased by 25.3% partly due to the inclusion of LAICA
revenues with the remaining increase realised from organic growth as the
Group continued a steady upward top-line trend in the new normal post-
pandemic.
Adjusted PBT (¹) (£m)
+4.2%
2021
2020
2019
39.4
39.6
Adjusted EBITDA (¹) (£m)
+6.3%
47.4
2021
2020
2019
In addition to the inclusion of LAICA, the increase in gross profits was also
driven by increase in growth and margin in the appliance division.
Net Debt (2) (£m)
+37.6%
32.2
2021
30.9
2020
30.2
2019
40.5
38.1
36.9
Adjusted EBITDA stood at £40.5m, increasing by 6.3%, as result of factors
including the impact of a number of headwinds which continue to persist
including increases in commodity prices, freight cost inflation, supply
chain and adverse foreign exchange rates.
Dividends (Pence per share)
+6.4%
51.2
2021
37.2
2020
26.3
2019
The resilience of the business model, flexible cost base and the inclusion
of LAICA has led to the adjusted profit before tax increase of 4.2% to
£32.2m.
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 and continues to underpin the Group's strong cash generation ability.
7.85
7.70
The Group reiterates its intention to implement a progressive dividend
policy that is linked to underlying earnings for the full year and is
confident in the continued strength of its cash generation.
1
2
Adjusted results exclude exceptional items, which include share-based payment transactions, COVID-19 related costs, and other reorganisation and strategic project costs. Adjusted results are non-GAAP metrics used by management and are not an IFRS disclosure.
Net debt excludes the impact of IFRS 16 lease liabilities, pension liabilities, deferred tax liabilities and earn-out provisions on satisfaction of performance conditions and providing post-combination services. Net debt including earn-out provisions was £58.6m.
8.35
Strix
TECHNOLOGY
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