QM Systems & Thomson Engineering Design

AGM 22nd December 2022

Agenda:

  • QM Systems
    • Reflection 2021/22 FY
    • Continued Effects of Covid Pandemic
    • New Facilities
    • Objectives 2022/23 FY
      • Projects
      • Contract Manufacture
  • Thomson Engineering Design (TED)
    • Reflection on 2021/22 FY
    • New Facilities
    • Objectives for 2022/23 FY
      • Value Streams
      • Contract Manufacturing
      • Bespoke Projects Focus

Innovation in Automation

QM Systems

Reflection on 2021/22 FY

  • A challenging year
    • More severely impacted by Covid-19 than previous FY combined with Russian invasion of Ukraine
      • Delays to project awards
      • Materials shortages causing delay to project deliveries
    • Final result does not reflect true progress
      • Rebalancing projects
      • Expansion into contract manufacturing
      • Moved into new facility
    • Significant cost associated with move to new facility on Hartlebury Trading Estate
      • c£750k outlay to get into the new facility
      • Majority of this self funded
    • Improvement in outlook 4th Quarter of FY
      • Order receipts improved
      • Too late in the FY to make a substantial difference
      • Significant orderbook carryover into 2022/23 FY

QM Systems

Continued Impact of Covid-19 Pandemic

  • Covid-19is still with us
    • Stigma attached to Covid-19
    • Significant increase in other illnesses (lack of immunity or immunity waning)
    • Understandably some trepidation remains with colleagues
  • Covid-19effect is reducing
    • Most colleagues have received vaccination
    • Virus is milder and shorter lived in most cases
    • World is opening up
  • Orderbook and outlook vastly improved
    • Clients appear to be placing orders again without significant delay
    • We have re-aligned our client portfolio significantly during the last 12-18 months
    • Order intake 2022/23 FY to date c £4.3M
    • Short term order pipeline is more buoyant

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Pipehawk plc published this content on 22 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 December 2022 17:53:25 UTC.