Scapa Group plc
Preliminary Results
“Driving profitable growth through strategic and operational execution”
Scapa Group plc (AIM: SCPA), a leading global manufacturer of bonding products and adhesive components for applications in the healthcare and industrial markets, today announces its Preliminary Results for the year ended 31 March 2016.
Financial Highlights
§ Revenue grew 4.5% to £246.7m (2015: £236.0m); 4.1% at constant exchange rates
§ Trading profit* increased 14.5% to £21.3m (2015: £18.6m); 14.5% at constant exchange rates
§ Trading profit* margins further improved to 8.6% (2015: 7.9%)
§ Adjusted earnings per share** increased 16.5% to 10.6p (2015: 9.1p)
§ Basic earnings per share of 4.1p (2015: 6.5p)
§ Final dividend increased to 1.75p (2015: 1.50p)
§ Net debt of £2.6m (2015: £3.4m) after site closure costs and First Water earn-out
Operational Highlights
§ Healthcare revenue increased 26.4% to £93.3m (2015: £73.8m); 19.2% at constant exchange rates
§ Organic growth of 17.9% excluding First Water
§ Healthcare trading profits increased 26.1%; 17.6% growth at constant exchange rates – maintaining margins at 15.0% as it continues to invest for growth
§ US$35m Healthcare acquisition of EuroMed Inc on 23 May 2016; US$2.5mEBITDA on revenue of US$18.0m for the financial year ended 31 December 2015
§ Signed a six-year contract extension with Convatec, a world leading wound therapeutics company
§ New Partner Enabled Development (PED) product launched with Johnson & Johnson
§ Successfully integrated First Water, strengthening innovation and development capabilities
§ Industrial profits grew 7.0%; 16.3% at constant exchange rates, and margins increased to 7.0% (2015: 6.2%) further improving the quality of the business
§ Consolidation of the French sites completed on time and on budget
§ Closure of the Swiss facility on plan and expected to complete in H2 of 2016/17
§ Invested new equipment in Canada and South Korea to support growth in their Construction and Automotive markets