Market Sectors - Morgan Advanced Materials

Company Overview
The Morgan Crucible Company plc is a world leader in advanced materials with full year 2011 revenue of £1,101 million (£1,017
million in 2010) and underlying operating profit of £141.5 million (£101.6 million in 2010). Listed on the London Stock Exchange,
the Morgan Crucible Company plc has two Global Divisions; Morgan Engineered Materials and Morgan Ceramics. The Group
employs some 10,000 people around the world with operating sites in 35 countries serving customers in over 100 countries. With
over 150 years experience Morgan Crucible is one of the world leaders in advanced materials technology. The Group strives to
provide efficient, sustainable and innovative solutions to its customers across the globe.
Market Sectors
Transportation
Energy
Security & Defence
Industrial
Petrochemical
FY2011 revenue by destination
1 Europe 34.9%
2 North America 31.4%
3D
ynamic Growth Economies 24.1%
4 RoW 9.6%
Electronics
Healthcare
FY2011 revenue by market
1 Industrial 41%
2 Transportation 17%
3 Security & Defence 11%
4 Electronics 11%
5 Petrochemical 8%
6 Energy 8%
7 Healthcare 4%
Group strategic priorities
-F
ocus on higher growth, higher margin, non-economically cyclical markets
- Be innovative, differentiated and high value-added to our customers
- Be number one or number two in our chosen market segments
- Have a culture of operational excellence and cost efficiency
- Find, keep and develop the right people
Key Events
08 May 2012
Morgan Crucible Annual General Meeting 12:00 BST
24 Jul 2012
Morgan Crucible Half Year Results Announcement 7:00am BST
and Results Presentation 9:30am BST
www.morgancrucible.com
The Morgan Crucible Company plc Registered in England & Wales at Quadrant, 55-57 High Street, Windsor, Berkshire, SL4 1LP UK Company No. 286773
Group financial ambitions by 2013
Three Year Target: Double Group underlying PBT* from £75.7 million to c.£150 million
- Double Group underlying PBT from
£75.7 million in 2010 to c.£150 million
Recovery and
organic growth
in traditional
businesses
- Mid-teen underlying operating
profit margin
Growth in new
markets/products
eg. Clean Energy,
HDD
Selective use of
value accretive
M&A
c.£150M
c.£75.7M
- Improving operating ROCE from
c.25% in 2010 to 35%
Rapid growth
potential in
emerging
markets
Cost of benefits of low
cost manufacturing and
divisional streamlining
2010 Underlying PBT 2013 Underlying PBT
*Underlying PBT is defined as operating profit before amortisation, less net financing costs
Underlying Operating Profit %
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
(2.0)%
(4.0)%
Return on Operating Capital
Employed (ROCE)
12.9%
11.4% 11.8%
33.7%
10.0%
8.2%
7.0%
3.8%
25.4%
2.7%
2.0%
FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011
Revenue
(£m)
2011
2010
Underlying operating profit*
(£m)
Underlying profit before
taxation** (£m)
Total dividend per
share (pence)
141.5
101.6
119.7
75.7
FY2011
2011
2010
1017.1
2011
2010
Underlying earnings per
share*** (pence)
1101.0
2011
2010
FY2010
29.9
18.7
2011
2010
9.25
7.70
* Underlying operating profit is defined as operating profit before amortisation of intangible assets.
** Underlying profit before taxation is defined as operating profit before amortisation of intangible
*** assets less net financing costs.
Underlying earnings per share is defined as basic earnings per share adjusted to exclude
amortisation of intangible assets.
Main Analysts: The Morgan Crucible Company plc is followed by the analysts listed below. Please note that any opinions, estimates or forecasts made by these analysts
are theirs alone and do not represent opinions, forecasts or predictions of The Morgan Crucible Company plc or its management.
Arden Partners
Bank of America Merrill Lynch
Barclays Capital
Citi
Credit Suisse
Goldman Sachs
Investec
David Larkam
Alex Toms
Richard Paige
Mark Fielding
Jonathan Hurn
Adam Pinckard
Chris Dyett
Jefferies
JP Morgan Cazenove
Peel Hunt
Numis
Panmure Gordon
RBC Capital Partners
Andrew Douglas
Glen Liddy
Thomas Rands
Scott Cagehin
Oliver Wynne-James
Andrew Carter
Enquiries concerning our Board of Directors should be directed to our Company Secretarial department. Investor and analyst enquiries should
be directed to the Investor Relations department. Our address, contact telephone and fax numbers and appropriate email addresses are below.
Email for investors - [email protected]
Email for Company Secretarial department - [email protected]
Email for EHS enquiries - [email protected]
Email for media - [email protected]
Email for general - [email protected]
Telephone +44 (0) 1753 837000 - Fax +44 (0) 1753 850872
www.morgancrucible.com
The Morgan Crucible Company plc Registered in England & Wales at Quadrant, 55-57 High Street, Windsor, Berkshire, SL4 1LP UK Company No. 286773