Autins : Presentation of Interim Results to 31 March 2022

Autins Group - Interim Results Presentation

Six months ending 31 March 2022

Agenda

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Highlights

Financials

Market Activity

Summary

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01 Highlights

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Financial Highlights

• Revenue decreased by 31.5% to £9.39m (H1 21: £13.7m).
• However, H1 22 revenue at £9.4m is only £300k lower than H2 21 at £9.7m
• Auto market impacted by shortage of semi-conductors and Ukraine war. Flooring saw a slow down of home refurbishment post Covid
• Gross margin reduced by 3.4% to 25.1% (H1 21: 28.5%), though marginally better than H2 21
• EBITDA was a loss of £0.35m (H1 21: £1.18m profit), but underlying EBITDA improved in comparison to H2 21 (£0.27m lower but without the benefit of £0.35m of furlough)
• Operating cash net outflow of £0.40m (H1 21: £0.87m inflow)
• Cash and cash equivalents of £2.8m at period end (H1 21: £2.9m)
• Group cash headroom of £5.1m (H1 21: £6.1m)

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Operational Highlights

• OEM's have record levels of unfulfilled orders and our customer base expects to see recovery
• UK auto demand was 8.3% higher in reporting period than H2 21
• German auto sales flat in reporting period compared to H2 21, but post period end running 19% ahead of prior year
• Neptune retail sales are up 10% at £3.28m on H2 21
• Flooring sales were down 30% compared to H2 21 at £1.67m. Sales in the post end period are 25% higher than the H1 average and tracking above £5m pa
• Enquiry pipeline has increased between Jan and Apr by £17m to £31m, £11m of which is for electric vehicle platforms
• 13 office pod companies are now specifying Neptune for their products, 5 of which are now regularly purchasing material from Autins

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