Mpac Group plc Annual Report and Accounts 2022

Making a difference

We create packaging and automation ecosystems that enhance manufacturing to help businesses adapt and grow

482302 Financial statements Corporate governance Strategic report

Contents

01 Year at a glance

  1. Who we are and what we do
  2. Automation Ecosystems
  3. Chairman's introduction
  4. Strategy: Our mission, sectors and values
  5. Strategy: Business model
  6. Strategy: Goals and priorities
  1. Operating review
  1. Financial review
  1. Principal risks and uncertainties
  1. Section 172 statement
  1. Chairman's corporate governance statement
  1. Board of Directors
  1. Corporate governance report
  1. Audit Committee report
  1. Remuneration and Nomination Committee report
  2. Annual Remuneration report
  1. Remuneration policy
  1. Directors' report
  1. Statement of Directors' responsibilities
  1. Independent Auditor's report
  1. Consolidated income statement
  2. Statement of comprehensive income
  3. Statements of changes in equity
  1. Statements of financial position
  2. Statements of cash flow
  3. Accounting policies
  1. Notes to the accounts
  1. Five-yearrecord
  2. Principal divisions and subsidiaries
  3. Notice of Annual General Meeting
  1. Corporate information

Mpac Group plc is an international company listed on the London Stock Exchange (symbol: MPAC), with a long and proud history of delivering innovation and excellence on a global basis. Our business is focused on the creation of manufacturing solutions that make and package the products millions of people worldwide depend on.

mpac-group.com

Year at a glance

Further good progress on the Group's strategic initiatives

2022 order intake of £83.8m (2021: £117.9m)

Group full year revenue £97.7m (2021: £94.3m)

Underlying profit before tax of £3.5m (2021: £8.6m)

Statutory profit before tax of £0.2m (2021: £8.2m)

Underlying earnings per share of 13.3p (2021: 39.7p)

Basic loss per share of 2.2p (2021: earnings of 39.1p)

ORDER INTAKE

REVENUE

Revenue by sector

£83.8m

£97.7m

Clean Energy

Food and beverage

£45.7m

(2021: £117.9m)

(2021: £94.3m)

£11.1m

Healthcare

UNDERLYING EARNINGS PER SHARE

BASIC LOSS PER SHARE

£30.1m

Other

13.3p

2.2p

Revenue by region

£10.8m

(2021: 39.7p per share)

(2021: Earnings of 39.1p)

Americas

£52.8m

PROFIT BEFORE TAX

NET ASSETS

Asia

£0.2m

£62.2m

£7.4m

Europe, Middle

East & Africa

(2021: £8.2m)

(2021: £65.4m)

£37.5m

Mpac Group plc

Annual Report & Accounts 2022

1

482302 Financial statements Corporate governance Strategic report

Mpac Group plc

Annual Report & Accounts 2022

Who we are and what we do

2

report

We support all brands and all locations with our global operations

Mpac is a provider of full-line product manufacturing and packaging solutions.

We serve customers globally in the essential and growing sectors of healthcare, clean energy, food and beverage, with engineering and services that increase automation, safety, sustainability and cost effectiveness.

We are headquartered in the UK and have strategically located manufacturing and Service locations to provide our customers with local support and a global reach.

We are 'One Mpac', with four connected businesses that trade under the globally respected brand names and product ranges of Lambert, Langen and Switchback. Lambert specialises in full-line solutions for the healthcare and clean energy sectors. Langen and Switchback provide secondary and tertiary packaging solutions for all sectors in which we operate.

Our philosophy is 'Ingenuity without limits'

We provide packaging and automation solutions to fast-moving consumer goods customers, enabling their products to be packaged for distribution to their consumers, ensuring security, quality, sustainability and shelf appeal.

We ensure manufacturing consistency through whole-line integration; from product assembly to primary packaging, cartoning to case packing and palletisation - designed, delivered and supported globally, while protecting the wider ecosystem we all live in.

We don't just build machines however, we create full-line automation ecosystems to develop and optimise manufacturing processes. Our end-to-end capabilities help our customers thrive in a changing world.

The Group leverages its engineering expertise with cutting-edge manufacturing technologies and proven machine design, and supports its customers with world class service support, delivered locally. We are a global organisation and can provide support to customers in any region.

482302 Financial statements Corporate governance Strategic

Our sectors

Healthcare

We help achieve better patient outcomes through advanced products, processes and packaging formats. From contact lenses to wound care products, we've got it covered.

Food and beverage

With extensive experience in dealing with powders to liquids, cereals to confectionary, our packaging machinery covers a wide range of applications.

Clean energy

We are developing battery cell assembly processes based upon 24M technology to provide high speed at a lower unit cost to customers in the sector.

Automation ecosystems

Mpac Group plc

Annual Report & Accounts 2022

WHOLE LINE

WHOLE LIFE

Using limitless ingenuity to align

Maintaining peak overall equipment

global manufacturing

effectiveness for the lifespan of machines

Global whole-line integration

Hands-on global experts providing local support

Streamlining processes and identifying efficiencies

Maintaining peak OEE over machine lifespan

Creating opportunities for new products

Transformational digital services

WHOLE PLANET

Helping businesses grow globally while embracing sustainability

Next-generation manufacturing for the next generation

Building efficient machines to optimise businesses performance and in turn, reduce the impact on the environment

Reducing transportation footprints with remote service assistance and smaller carton sizes

3

WHOLE LINE, WHOLE LIFE, WHOLE PLANET

Mpac's offer to customers has been shaped by delivering against these three pillars. The result is Automation Ecosystems

ONE MPAC

All our products and services operating as 'One Mpac' to deliver Automation Ecosystems

02 Strategic report

Product line specialty

Focus on clean energy and healthcare sector device assembly and automation

Cutting-edge factory automation platforms and transformational technologies

Manufacturing site in EMEA, serving customers in EMEA, Americas and APAC

Exceptional customer service support

Product line specialty

Market leading secondary and end-of-line packaging solutions for food and beverage and healthcare sectors

Flexible engineered modular assemblies to support customers' requirements

Manufacturing sites in EMEA and Americas, serving customers in EMEA, Americas and APAC

Global Service support offering

Product line specialty

Secondary and end-of-line packaging solutions for food and beverage and healthcare sectors

Cartoners, Trayformers, Carton Closers, Case Erectors and Case Packers, and Labelling machines

Manufacturing site in Americas, serving customers in EMEA and Americas

Integrated Group Service supporting customers globally

23 statements Corporate governance

Assembly

Filling &

Primary

Product handling

Cartoning

Tray forming

Case packing

Palletising

Dosing

packaging

and infeed

MPAC CUBE

We've folded the many sides of our automation service and support together to form the 'Mpac Cube'

Propelling production goals through Connectivity, Productivity and Sustainability

48 Financial

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Disclaimer

MPAC Group plc published this content on 06 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 April 2023 17:33:07 UTC.