BREEDON GROUP BREEDON GROUP
Interim Report 2017
A STRONG PLATFORM FOR GROWTH
FINANCIAL HIGHLIGHTS
REVENUE
£326.3m30 JUNE 2016: £163.0m +100%
UNDERLYING EBIT*
£35.8m30 JUNE 2016: £22.8m +57%
UNDERLYING BASIC EARNINGS PER SHARE*
1.84p30 JUNE 2016: 1.50p +23%
PROFIT BEFORE TAXATION
£31.2m30 JUNE 2016: £20.9m +50%
NET DEBT
£146.8m30 JUNE 2016: Net Cash £17.6m
* Underlying results are stated before acquisition-related expenses, redundancy and reorganisation costs, property items, amortisation of acquisition intangibles and related tax items. References to an underlying profit measure throughout this Interim Report are defined on this basis.
7.9 million tonnes of aggregates sold (30 June 2016: 4.6 million tonnes)
0.9 million tonnes of asphalt sold (30 June 2016: 0.9 million tonnes)
1.7 million cubic metres of ready-mixed concrete sold (30 June 2016: 0.5 million cubic metres)
HIGHLIGHTS
Strong profit improvement from former Breedon Aggregates business and robust contribution from former Hope Construction Materials ("Hope")
Underlying EBIT margin of 15.8% achieved in former Breedon Aggregates business,
comfortably ahead of our 2020 target of 15%
Further progress on safety improvement: Lost Time Injury Frequency Rate reduced from 1.87 in 2016 to 1.41 at half-year
Net debt reduced to £146.8m (31 December 2016: £159.3m)
Both cement kiln maintenance and upgrade shutdowns completed in first half, on time and to budget
Integration of former Hope operations completed, with planned synergies expected to be fully delivered in 2018, ahead of schedule
Pro Mini Mix acquired; further bolt-on acquisitions in pipeline
Organic development underway in two new quarries in Scotland and County Durham
Remain confident that we will meet 2017 market expectations
Cover photo:
Stephanie Hallows, Laboratory Supervisor, Hope Cement Works
02
BREEDON GROUP
Interim Report 2017
INTRODUCTION
WE ARE THE UK'S LARGEST INDEPENDENT CONSTRUCTION MATERIALS GROUP. OUR OPERATIONS ARE FULLY VERTICALLY INTEGRATED, INCORPORATING THE COUNTRY'S LARGEST CEMENT PLANT, TWO CEMENTITIOUS IMPORT TERMINALS, AROUND 60 QUARRIES, 26 ASPHALT PLANTS, NEARLY 200 READY-MIXED CONCRETE PLANTS AND THREE CONCRETE PRODUCTS PLANTS NATIONWIDE. WE EMPLOY AROUND 2,300 COLLEAGUES AND HAVE MORE THAN 750 MILLION TONNES OF MINERAL RESERVES AND RESOURCES. OUR STRATEGY IS TO CONTINUE GROWING ORGANICALLY AND THROUGH ACQUISITION OF BUSINESSES IN THE UK HEAVYSIDE CONSTRUCTION MATERIALS MARKET.CO NTENTS
02 /FINANCIAL HIGHLIGHTS
03 /INTRODUCTION
04 /BREEDON AT A GLANCE
06 /BUSINESS REVIEW
/CONDENSED CONSOLIDATED INCOME STATEMENT
/ CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
/ CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
/ CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
/ CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
/ NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
20 /ADVISERS AND COMPANY INFORMATION
20 /SHAREHOLDER INFORMATION
Breedon Group reports as three autonomous Divisions, Breedon Northern and Breedon Southern comprise the Group's aggregates, asphalt, ready-mixed concrete, concrete products
and contracting businesses; Hope Cement comprises the Group's cementitious operations.
For more information visit
www.breedongroup.com
03
BREEDON GROUP
Interim Report 2017
BREEDON AT A GLANCE
over
750mtmineral reserves and
resources
around
2,300colleagues
1cement plant
2cementitious import
terminals
8rail-fed
depots
around
60quarries
26asphalt plants
nearly
200ready-mixed
concrete and mortar plants
3concrete products
plants
9regional contract
surfacing hubs
04
BREEDON GROUP
Interim Report 2017
Breedon Group plc published this content on 21 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 21 July 2017 16:44:07 UTC.
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