Mpac Group plc

(“Mpac”, “the Company” or “the Group”)

Mpac, the global packaging and automation solutions Group, today announces its results for the 12 months to 31 December 2021

Strong performance in FY21 with results exceeding market expectations and FY22 has started on track

Financial Highlights

• Order intake of £117.9m (2020: £83.9m) contributing to a closing order book of £78.4m (2020: £55.5m)

• Group full year revenue up 13% to £94.3m (2020: £83.7m)

• Increase in operating margins, with underlying operating return on sales 9.3% (2020: 7.8%)

• Underlying profit before tax up 36% to £8.6m (2020: £6.3m)

• Underlying earnings per share of 39.7p (2020: 31.4p)

• Statutory profit before tax of £8.2m (2020: £2.9m)

• Basic earnings per share of 39.1p (2020: 20.8p)

• Cash of £14.5m (2020: £15.5m)

Operational and Strategic Highlights

• Americas region continues to perform well alongside an improving outlook in EMEA, driving a significant increase in the value of the closing order book

• Further progress made in the integration of Mpac Switchback with trading exceeding management expectations

• Mpac USA headquarters and showcase facility opened in Q3 2021

• Regional Service strategy continues to develop through the use of digital solutions with good progress in the Americas

• One Mpac unified business processes strategy reached a milestone with go-live of global ERP systems at UK and Canada sites, achieving early benefits of shared resources

• Development of Mpac Cube offering – a suite of digital products to enhance our customers connectivity, productivity and sustainability

• Contract secured with FREYR Battery, a developer of next-generation battery cell production capacity, for the design and build of a development line

• New 'go to market' proposition underpinned with Group-branded website (mpac-group.com )

Tony Steels, Chief Executive, commented:

“I am pleased to report Mpac made strong progress in the year, delivering significant growth in order intake, order book and a financial performance for 2021 exceeding market expectations.  In the year the Group surpassed the milestone of generating more than £100m of order intake and grew operating margins significantly over the prior year.  The positive first half 2021 performance continued, and the Group ended 2021 with both a strong closing order book and a healthy prospect pipeline, providing an encouraging outlook for 2022. I would like to thank our global team, who excelled in challenging circumstances and who continue to demonstrate agility and customer focus”