CMD and Change to Reporting Segmentation

RNS Number : 9818P

TT Electronics PLC

12 June 2015

 



12 June 2015

TT Electronics plc

Capital Markets Day and Change to Reporting Segmentation

Capital Markets Day

TT Electronics ("TT" or the "Group"), a global provider of engineered electronics for performance critical applications, is today hosting a Capital Markets Day for analysts and investors.

Following the strategy review outlined with the preliminary results in March 2015, TT's management team will set out in more detail the Group's strategic priorities and how they expect these to underpin a return to sustainable profitable growth and improving value for shareholders.

Following the publication of our trading update on 12 May, no update on current trading will be provided.

Copies of the slides from the presentations made will be available on the Group's website (www.ttelectronics.com) later today.

Change to Reporting Segmentation

As previously announced, from the start of 2015 TT moved from three to four divisions, splitting Sensing and Control into two clear customer facing segments: Transportation Sensing and Control and Industrial Sensing and Control, to provide greater market focus and accountability. No change has been made to the Advanced Components or Integrated Manufacturing Services divisions.

For the purpose of comparison, the Group is today publishing its segmental results for full year 2014, the first half of 2014 and full year 2013 on the new basis, as shown below:

Income statement information - continuing operations

			2014
£million	Transportation Sensing and control	Industrial Sensing and Control	Advanced Components	Integrated Manufacturing Services	Total
Sales to external customers	230.5	58.8	98.8	136.2	524.3
Segment underlying operating profit	1.4	12.8	9.5	5.5	29.2
Margin	0.6%	21.8%	9.6%	4.0%	5.6%

			H1 2014
£million	Transportation Sensing and control	Industrial Sensing and Control	Advanced Components	Integrated Manufacturing Services	Total
Sales to external customers	118.9	24.7	48.1	69.4	261.1
Segment underlying operating profit	2.3	4.3	3.8	2.7	13.1
Margin	1.9%	17.4%	7.9%	3.9%	5.0%

Income statement information - continuing operations (cont.)

			2013
£million	Transportation Sensing and control	Industrial Sensing and Control	Advanced Components	Integrated Manufacturing Services	Total
Sales to external customers	234.5	50.7	100.4	146.6	532.2
Segment underlying operating profit	8.7	8.8	4.3	9.0	30.8
Margin	3.7%	17.4%	4.3%	6.1%	5.8%

Segment assets and liabilities

	Assets		Liabilities
£million	2014	2013	2014	2013
Transportation Sensing and Control	113.5	126.6	45.6	42.9
Industrial Sensing and Control	81.2	68.1	15.3	15.6
Advanced Components	57.2	51.7	16.3	15.4
Integrated Manufacturing Services	79.4	78.4	29.6	47.2
Segment assets and liabilities	331.3	324.8	106.8	121.1
Pension liability	-	-	12.4	20.5
Unallocated assets and liabilities	46.3	62.8	70.6	42.7
Total assets and liabilities	377.6	387.6	189.8	184.3

	Capital expenditure		Depreciation &  amortisation
£million	2014	2013	2014	2013
Transportation Sensing and Control	21.4	20.3	14.9	13.6
Industrial Sensing and Control	2.3	1.4	1.7	1.5
Advanced Components	7.8	4.5	3.7	3.7
Integrated Manufacturing Services	4.5	3.5	2.0	1.8
Total continuing operations	36.0	29.7	22.3	20.6

For further information please contact:
TT Electronics plc	Tel:  [phone]
Richard Tyson, Chief Executive Officer Mark Hoad, Chief Financial Officer
MHP	Tel:  [phone]
John Olsen / Tim Rowntree / Jamie Ricketts
Notes:  The Group's interim results will be announced on 20 August 2015

 

END

 

 

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