NWF GROUP PLC NWF Group plc
Final results to May 2021
Groupoverview
Leadershipteam
Anexperienced andcapableteam
Richard Whiting | Chris Belsham | |||
Chief Executive | Group Finance Director | |||
Key skills | Experience | Key skills | ||
• | Strategy and leadership | Joined in 2007. Previously group finance director | • | Finance |
• | Sales and marketing | of Heywood Williams Group plc, after joining as | • | Mergers and acquisitions |
• | Operations | business development director from Brand-Rex | • | Strategy |
• | Finance | Ltd, where he was managing director | ||
• | Mergers and acquisitions | of the datacom division. |
NWFGROUPPLC 2
FINAL RESULTS TO MAY 2021
Experience
Joined as Group Finance Director in 2017. Previously an equity partner and head of corporate finance at Irwin Mitchell LLP having joined the business in 2014 from KPMG Corporate Finance. Qualified as a Chartered Accountant with PwC in 1999.
Groupoverview | NWFGROUPPLC | 3 |
Keyhighlights | FINAL RESULTS TO MAY 2021 | |
NWFisaspecialist distributorof fuel, foodandfeedacrosstheUK
Summary
- Strong track record of delivering increased shareholder returns
- Group operates in large stable markets
- Strong cash generation with dividend growth
- Clear growth strategy
Fuels
Supplying fuel to commercial and domestic customers across the UK
-
Third largest oil distributor in the
UK - 695 million litres delivered in 2021
- Road diesel, gas oil, heating oil and petrol
- 25 depots across the UK
- 146 tankers delivering fuel
- 127,000 customers both commercial and domestic
- Five acquisitions since 2019 in a fragmented market
Food
The leading North West ambient grocery consolidator
-
Boughey Distribution is a leading
consolidator of ambient grocery products - Over 1 million ft2 of modern, racked warehousing in Cheshire
- 135,000 pallet spaces
- 117 trucks and 305 trailers
- Over 200 contracted ambient grocery customers
Feeds
Delivering nutritional advice and feed to ruminant farmers across the
UK
- Second largest national ruminant feed supplier - feeds one in six dairy cows
- Feed mills in Cumbria, Cheshire and Devon
- 575,000 tonnes sold in 2021
- 4,550 farming customers
- 40 trucks and 18 trailers
- Principally dairy, also beef and sheep
Groupoverview | NWFGROUPPLC | 4 |
Resultssummary | FINAL RESULTS TO MAY 2021 | |
Strongresultsaheadof pre-pandemic market expectations
RevenueHeadline operating profit1 Headline profit before tax1£675.6m | £12.9m | £11.9m | |||||||||||
-1.7% | -9.8% | -9.8% | |||||||||||
21 | 21 | 21 | |||||||||||
£675.6m | £12.9m | £11.9m | |||||||||||
20 | 20 | 20 | |||||||||||
£687.5m | £14.3m | £13.2m | |||||||||||
19 | 19 | 19 | |||||||||||
£671.3m | £10.2m | £9.7m |
Headline earnings per share1 | Net debt | Dividend per share | ||||||||||||
20.4p | £5.7m | 7.2p | ||||||||||||
-5.1% | EBITDA ratio: 0.3x | +4.3% | ||||||||||||
21 | 21 | 21 | ||||||||||||
20.4p | £5.7m | 7.2p | ||||||||||||
20 | 20 | 20 | ||||||||||||
21.5p | £12.3m | 6.9p | ||||||||||||
19 | 19 | 19 | ||||||||||||
15.8p | £10.4m | 6.6p |
1 Stated before exceptional items, amortisation of acquired intangibles and the net finance cost of the Group's defined benefit pension scheme and the tax effect thereon where relevant. The calculation of headline earnings excludes the exceptional impact of remeasuring deferred tax balances. Headline EPS for the year ended 31 May 2020 has been re-presented on a like-for-like basis.
Fuels
Operatinghighlights
Outperformance
- Traded ahead of expectations supported by our commercial strategy, a cold winter and extended home working
- Successful deployment of strategy to increase gas oil share of commercial business
- Managed volatile and generally increasing oil costs over the period with Brent Crude moving from $38 per barrel to over $70 a barrel at year end
- Prior year benefitted from a significant fall in the oil price
- Launched NWF Priority Club with an App for tank monitoring and auto top-up
- Invested as planned in skills and capability to support future development
- Acquisitions integrated and performing strongly:
- Acquisition pipeline building
RevenueOperating profitVolume (litres)
£447.8m | £9.3m | 695m | ||||||||||||
-4.8% | -15.5% | +4.5% | ||||||||||||
21 | 447.8 | 21 | 9.3 | 21 | 695 | |||||||||
20 | 470.2 | 20 | 11.0 | 20 | 665 | |||||||||
19 | 443.0 | 19 | 5.6 | 19 | 552 |
NWFGROUPPLC 5 FINAL RESULTS TO MAY 2021
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
NWF Group plc published this content on 03 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2021 09:55:15 UTC.
