Melrose Mergers and Acquisitions Presentation Deck
Interim results: Melrose Group highlights
Melrose
Continuing operations
Revenue
Operating profit/(loss)
Profit/(loss) before tax
Diluted earnings per share
Net debt¹, 3
Leverage¹, 3
■
■
I
■
■
I
I
Adjusted¹ results
2022
£m
3,878
171
128
2.2p
1,294
1.8x
Buy
Improve
Sell
2021²
£m
1.
2.
3.
3,719
196
114
1.8p
950
1.3x
Statutory results
2022
£m
First Half Trading Highlights for the Melrose Group
Melrose is trading in line with expectations for the full year
First half results are at the higher end of expectations, helping to de-risk the second half performance required to achieve full year
expectations
3,594
(317)
(358)
(6.3)p
n/a
n/a
2021²
£m
3,431
(156)
(275)
(3.4)p
n/a
The Group recorded an adjusted¹ earnings per share of 2.2 pence, 22% higher than the same period last year. The statutory loss per
share in the Period was 6.3 pence per share (2021: 3.4 pence per share)
n/a
Group net debt¹ at 30 June 2022 was £1,294 million (31 December 2021: £950 million; equivalent to £1,017 million at like-for-like
exchange rates)
The Group selectively increased its investment in working capital in the Period, to support expected growth and address constrained
supply chains. In addition, prior to the Period end, the Group completed £119 million of the £500 million programme to buy back Melrose
shares
Group leverage¹ at 30 June 2022 was 1.8x, or 1.6x if excluding the early buy back of shares before the Period end and prior to Ergotron
proceeds being received in July
Described in the glossary to the 2022 Interim Financial Statements and considered by the Board to be a key measure of performance
Results for the period ended 30 June 2021 have been restated for discontinued operations
Comparatives for Balance Sheet measures are at 31 December 2021
An interim dividend of 0.825 pence per share (2021: 0.75 pence per share) is declared, 10% up on the previous period
The disposal of Ergotron completed post the half year, on 6 July, for total proceeds of £519 million
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