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Press Kit

Chemring Group PLC

Chemring is a global business that specialises in the manufacture of high technology products and the provision of services to the aerospace, defence and security markets. Employing approximately 2,700 people worldwide, and with production facilities in four countries, Chemring meets the needs of customers in more than fifty countries. Chemring is now organised under three strategic product segments:  Countermeasures, Sensors & Electronics, and Energetic Systems. Chemring has a diverse portfolio of products that deliver high reliability solutions to protect people, platforms, missions and information against constantly changing threats. Operating in niche markets and with strong investment in research and development, Chemring has the agility to rapidly react to urgent customer needs. 

Results for the year ended 31 October 2016


2016
2015
Continuing operations:

Revenue 477.1m 377.3m
Underlying operating profit £48.5m £34.4m
Underlying profit before tax £34.0m £19.8m
Net debt
£87.6m £154.3m
Underlying earnings per share
10.3p  7.1p**
     
Total operating profit £26.2m £5.5m
Total profit/(loss) before tax
£8.0m £(9.1)m
Total earnings/(loss) per share
2.5p (2.4)p**

** Restated 2015 earnings per share to reflect bonus element of rights issue during the year.

Financial Highlights:

  • Operational and financial performance improved in H2 with strong 40mm volumes and favourable currency impact
  • Cash generation improved with cash flows from operating activities of £76.4 million (2015: £35.4 million), giving cash conversion* of underlying operating profit of 123% (2015: 53%)
  • Net debt reduced to £87.6 million; net debt to EBITDA at 1.15x
  • Continued improvement in safety performance, with LTI rate the lowest on record
  • Continued progress on R&D phases of key US Programs of Record and on F-35
  • Operational Excellence Programme launched to drive further improvements in safety, knowledge sharing, gross margins and cash generation
  • New Group Finance Director appointed post period end
  • Order book at year end of £592.9 million (2015: £569.6 million), of which £368.0 million is currently expected to be recognised as revenue in FY17Board recommending a final dividend of 1.3p per share (2015: nil)

Group Sales Analysis

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