RESTATEMENT OF 2017 RESULTS FOR NEW STRUCTURE

RNS Number : 3030U

Essentra plc

11 July 2018

 

ESSENTRA PLC

RESTATEMENT OF 2017 RESULTS TO REFLECT NEW DIVISIONAL STRUCTURE

Further to the adoption of its new divisional structure with effect from 1 January 2018, Essentra plc today presents its interim results for the six months ended 30 June 2017 (unaudited) and full year results for the 12 months ended 31 December 2017 on a pro forma basis.

The results are provided on a continuing operations basis, excluding Porous Technologies which was divested on 6 March 2017.

Half year results to 30 June 2017 (unaudited):

		Revenue (£m)	Like-for-like revenue growth1		Total revenue growth	Adj. operating profit2 (£m)	Adj. operating margin2
BY DIVISION
Components		120.7	+3.9%		+13.2%	26.3	21.8%
Packaging		184.6	-9.0%		-1.4%	0.7	0.4%
Filters		136.7	-9.4%		+2.9%	16.1	11.8%
Specialist Components		83.5	+8.3%		+18.3%	7.5	9.0%
Elims.3 / central services		(2.9)				(7.5)
Costs allocated to Porous Technologies	n/a					(0.3)
TOTAL GROUP - CONTINUING		522.6	-4.0%		+5.6%	42.8	8.2%

¹ Excludes the impact of acquisitions, disposals and foreign exchange

² Before intangible amortisation and exceptional operating items

³ Eliminations, being intersegment revenue

Full year results to 31 December 2017 (unaudited):

	Revenue (£m)	Like-for-like revenue growth1	Total revenue growth	Adj. operating profit2 (£m)	Adj. operating margin2
BY DIVISION
Components	241.8	+5.9%	+11.0%	53.6	22.2%
Packaging	350.5	-9.1%	-5.4%	(1.8)	n/m
Filters	277.5	-3.4%	+3.1%	34.8	12.5%
Specialist Components	163.6	+6.8%	+11.7%	14.1	8.6%
Elims.3 / central services	(6.1)			(15.8)
Costs allocated to Porous Technologies	n/a			(0.3)
TOTAL GROUP - CONTINUING	1,027.3	-2.0%	+2.9%	84.6	8.2%

¹ Excludes the impact of acquisitions, disposals and foreign exchange

² Before intangible amortisation and exceptional operating items
³ Eliminations, being intersegment revenue

Essentra plc will present its half year results for the six months ended 30 June 2018 on 3 August 2018.

Enquiries

Essentra plc Joanna Speed, Investor Relations Director Lucy Yank, Group Communications Director Tel: [phone]

Tulchan Communications LLP Martin Robinson Toby Bates Guy Bates Tel: [phone]

Notes to Editors

About Essentra plc

Essentra plc is a FTSE 250 company and a leading global provider of essential components and solutions.  Organised into four divisions from the start of 2018 - reflecting the Company's strategic review - Essentra focuses on the light manufacture and distribution of high volume, enabling components which serve customers in a wide variety of end-markets and geographies.

Essentra Components

Essentra Components is a global market leading manufacturer and distributor of plastic injection moulded, vinyl dip moulded and metal items.  Operating in 27 countries worldwide, nine manufacturing facilities and 24 logistics centres serve more than 90,000 customers with a rapid supply of low cost but essential products for a variety of applications in industries such as equipment manufacturing, automotive, fabrication, electronics and construction.

Essentra Packaging

Essentra Packaging is one of only two multi-continental suppliers of a full secondary packaging range to the health and personal care sectors, with 25 facilities across four geographic regions.  The division's innovative products include cartons, leaflets, self-adhesive labels and printed foils used in blister packs, which help customers to meet the rapidly-changing requirements of these end-markets and can also be combined with Essentra's authentication solutions to help the fight against counterfeiting.

Essentra Filters

Essentra Filters is the only global independent cigarette filter supplier.  The nine worldwide locations, including a dedicated Technology Centre supported by three regional development facilities, provide a flexible infrastructure strategically positioned to serve the tobacco sector.  The business supplies a wide range of value-adding high quality innovative filters, packaging solutions to the roll your own segment and analytical laboratory services for ingredient measurement to the industry: Essentra's offering also includes e-cigarette and Heat Not Burn solutions to the rapidly evolving market for Next Generation Products.

Essentra Specialist Components

Essentra Specialist Components comprises the Company's six smaller businesses.  These activities largely have strong positions in the markets in which they operate, although they have little overlap with each other or with Essentra's larger three global divisions.

The Extrusion business is a leading custom profile extruder located in The Netherlands which offers a complete design and production service.  One of the first companies to extrude plastics, Essentra is now one of Europe's most advanced suppliers of co-extrusion and tri-extrusion to all branches of industry.

The Pipe Protection Technologies business specialises in the manufacture of high performance innovative products from commodity resins to engineering-grade thermoplastics and polymer alloys, largely for use in the oil and gas industry.  Locations in four countries, combined with a wide distributor network, serve customers around the world.

The Speciality Tapes business has expertise in coating multiple adhesive systems in numerous technologies, with close to 3,000 tape products available for same-day shipping and predominantly for point of purchase and white goods applications.

The Tear Tapes business is globally recognised as the leading manufacturer and supplier of pressure-sensitive tear tapes, which are largely used in the tobacco, food and drink and specialist packaging sectors. 

The Industrial Supply business provides a wide range of branded hardware supplies to a broad base of industrial customers, largely located in the US Mid-West.

The Security business is a leading European provider of ID card printers, systems and accessories to direct and trade customers.

Headquartered in the United Kingdom, Essentra's global network extends to 33 countries and includes c. 8,000 employees, 50 principal manufacturing facilities, 66 sales & distribution operations and 4 research & development centres. For further information, please visit www.essentraplc.com.

 

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