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12 Jun 2015 07:00
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: 01932 825300 |
Richard Tyson, Chief Executive Officer Mark Hoad, Chief Financial Officer | |
MHP | Tel: 020 3128 8100 |
John Olsen / Tim Rowntree / Jamie Ricketts | |
Notes:
The Group's interim results will be announced on 20 August 2015 | |
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