Marshalls plc
2022 Financial Results Review and Outlook
Transformational acquisition, record adjusted results and well positioned for when markets improve
15 March 2023
Agenda
- Highlights
- Financial performance
- Construction market outlook
- Key strategic initiatives
- ESG leadership
- Summary and outlook
- Questions and answers
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Marshalls plc 2022 Financial Results Review and Outlook | 2 |
TRANSFORMATIONAL ACQUISITION, RECORD ADJUSTED RESULTS AND WELL POSITIONED FOR WHEN MARKETS IMPROVE
Highlights
Record adjusted performance following Marley acquisition
Revenue | Adjusted operating profit | Adjusted PBT |
£719.4m | £101.1m | £90.4m |
+22% | +31% | +23% |
Adjusted basic EPS | Proposed full year | Pre-IFRS 16 net debt |
dividend | ||
31.3p | 15.6p | £190.8m |
+7% | +9% |
Note: Results stated after adding back adjusting items totaling £53.2 million; see page 42 for details
Marshalls plc 2022 Financial Results Review and Outlook | 3 |
TRANSFORMATIONAL ACQUISITION, RECORD ADJUSTED RESULTS AND WELL POSITIONED FOR WHEN MARKETS IMPROVE
2022 highlights
Record adjusted financial performance and year of strategic execution
- Acquisition of Marley - market leading pitched roofing manufacturer
- Record revenues and profit for former CPM and Edenhall businesses, driving a record performance from Marshalls Building Products - brick market share now 6 per cent
- 10 out of top 12 UK housebuilders used Marshalls' facing bricks
- Record adjusted earnings per share, despite weak performance in Marshalls Landscape Products
- Dual block plant at St Ives is now being commissioned and manufacturing product - underpins new product development
Marshalls plc 2022 Financial Results Review and Outlook | 4 |
TRANSFORMATIONAL ACQUISITION, RECORD ADJUSTED RESULTS AND WELL POSITIONED FOR WHEN MARKETS IMPROVE
2022 challenges
Significant challenges were navigated during the year
- Double digit consumer price inflation
- Energy prices rising fed into continuous raw material price inflation
- Labour shortages
- Interest rate increases and government turmoil depressed consumer confidence
- Re-prioritisationof consumer spend - domestic landscaping volumes contracted by around one-third
- Reduced exposure to domestic landscaping following recent acquisitions mitigated overall Group impact
- Input price inflation recovered through supply chain, but demand was suppressed as a result
Note: 2022 proforma revenue includes Marley for 12 months
Marshalls plc 2022 Financial Results Review and Outlook | 5 |
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Disclaimer
Marshalls plc published this content on 15 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 March 2023 09:09:09 UTC.