Spirax Group PLC (CHIX:SPXl)
£ 74.65 -0.65 (-0.86%) Market Cap: 5.49 Bil Enterprise Value: 6.31 Bil PE Ratio: 28.63 PB Ratio: 4.74 GF Score: 79/100
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Half Year 2022 Spirax-Sarco Engineering PLC Earnings Call Transcript

Aug 11, 2022 / 08:00AM GMT
Release Date Price: £116.3 (-2.72%)

Key Points

Positve
  • Strong demand growth across all three business segments, with record order books.
  • Successful implementation of price increases to offset inflation and protect margins.
  • Significant sales growth in Watson-Marlow, particularly in the biopharma sector.
  • Acquisition of Vulcanic to strengthen ETS business and expand decarbonization solutions.
  • Continued progress on ESG initiatives, including health and safety investments and reduction in emissions.
Negative
  • Global supply chain challenges impacting availability of key manufacturing components.
  • Suspension of trading with Russia and disposal of Russian operations.
  • Increased capital expenditure leading to lower cash conversion rates.
  • Operating profit margin decreased by 150 basis points due to revenue investments.
  • Ongoing financial underperformance at the Chromalox facility in Soissons, France.
Operator

Good morning, and thank you for standing by. Welcome to the Spirax-Sarco Engineering PLC 2022 Half Year Results Webcast and Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Nicholas Anderson, Group Chief Executive. Please go ahead, sir.

Nicholas J. Anderson
Spirax-Sarco Engineering plc - Group Chief Executive & Executive Director

Good morning, everyone, and welcome to our 2022 Half Year Results Announcement Call. I'm Nicholas Anderson, Group Chief Executive, and I'm joined here by our CFO, Nimesh Patel.

Regarding today's presentation, I will start by sharing the highlights of the first half, and then Nimesh will take you through our financial performance. Later, I will return to cover the operations and outlook for the full year 2022. To finalize, we'll be happy to take questions from the analysts on the call.

Moving to Slide 3. I'd like to start by acknowledging and thanking all my colleagues around

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