Delivering our strategic growth objectives

Group key strategic objectives

  • Obtain and deliver specification
  • Easy to work with
  • Innovate and optimise products and solutions
  • Improve our cost effectiveness, our efficiency and our flexibility
  • Operate in an environment where safety and people are a key priority

Six corporate pillars

  • Shareholder value
  • Sustainable profitability
  • Relationship building
  • Organic expansion
  • Brand development
  • Effective capital structure and control framework

Our vision

Our vision is to create better places and futures for everyone; socially, environmentally and economically.

Our mission

Our continuing mission is to deliver sustainable growth through a brand that drives customer specification of innovative product solutions for the built environment.

Strategic Priorities

  • Obtain and deliver specification
  • Easy to work with
  • Innovate and optimise products and solutions
  • Improve our cost effectiveness, our efficiency and our flexibility
  • Operate in an environment where society and people are a key priority

Developing strategy

The impact of COVID-19 has presented many challenges, but we remain confident that our strategy is the right one, with built-in flexibility such that the pace of delivery can be adjusted for external uncertainties. We remain committed to the 2025 Strategy as our driver for growth.

Obtain and deliver specification

Secure specifications to create demand for our products and systems to optimise market share
Progress to date

• Building Products seeks to generate demand for its solutions through established partnerships underpinned by design. It also seeks to generate demand from UK house builders

• Roofing Products leverages the breadth of its products range to provide full roof system specifications supported by a 15-year warranty. Viridian Solar provides site layout and solar design services for house builders

• Landscape Products secures pull demand from commercial specifiers at the contract design phase and domestic specifications through the Marshalls Register and investment in visualisation software

Year ended 2023
We will continue to optimise our market share in different product markets, whilst growing our contribution margin. To underpin our strategies, we have developed business unit-specific plans, that include market insight and differentiated value propositions.

Easy to work with

Improve the customer experience by simplifying process and touchpoints, particularly through technology
Progress to date
• Shifting transactions to EDI, ordering apps and dropship

• Migrating Marshalls’ business systems to the cloud whilst simplifying and digitising processes to improve efficiency

• In roofing, a MyAccount digital portal allows channel partners to view live quotes, orders, delivery schedules, project lead times and sales leads

• Rolling out visualisation software and paving installer technology, so customers can better visualise products in domestic and commercial projects

Year ended 2023
We are aiming to improve the customer experience by simplifying processes and touchpoints, particularly utilising digital technologies. The programme will make Marshalls easier to do business with by removing complexity from purchase and enquiry activity. This will be supported by the work we are undertaking with our products and solutions, providing a competitive advantage in the market.

Innovate and optimise products and solutions

New product development (“NPD”) to improve our product mix and generate competitive advantage through innovation, with an emphasis on reducing embodied carbon
Progress to date

• Commercialised ESG credentials – environment performance declarations available for c.80 per cent of Group’s product range

• Dual block plant will manufacture wide range of innovative paving products with lower carbon footprint than imported products

• CarbonCure technology being used to sequester carbon at a concrete brick factory. Rollout of lower cement content mix running to plan

• Viridian Solar has launched its most powerful solar panel and ArcBox, an innovative fire safety enclosure for solar roof systems

Year ended 2023
We will continue to effectively manage our NPD programmes, introducing new and/or improved products and solutions to market. Our focus will be on customer-led innovation, tailored specifically to each business. This will be supported by simplification and optimisation of our range to reduce complexity, complementing our focus on being “easy to do work with”.

Improve our cost effectiveness, our efficiency and our flexibility

To deliver cost base optimisation and flexibility, maximise returns from efficiency and strategic capital expenditure and optimise investment in working capital
Progress to date

• Restructuring removed an annualised c.£11 million from the cost base Options to build more flexibility in labour under discussion

• Capacity reduced but capability exists to increase shift patterns and recommission assets as demand improves

• Capital expenditure plans focus on, efficiency capital expenditure and maintaining existing capital base

• Working capital activity managed with lower output in second half to reduce inventory by around £16 million

Year ended 2023
We will continue to deliver cost optimisation in our business, alongside delivering a more flexible and agile operation. This will give us further leverage on our recoveries, and therefore overall operational efficiency. To help enable this, we will continue to invest in the business, ensuring we focus on maximum returns through efficiency and strategic capital expenditure.

Operate in an environment where safety and people are a key priority

We will continue to ensure the work environment is safe and foster a culture and environment of diversity, equity, respect, inclusion and engagement
Progress to date

• Clear roadmap for keeping colleagues safe with focus on continuous improvement

• EVG provides strong channel for engagement and feedback

• Group-wide employee engagement surveys create priorities for further improvement activities

• Group Code of Conduct refreshed and being rolled out with training

• Continued investment in apprenticeships and learning and development

Year ended 2023
Marshalls continues to foster a culture and environment of diversity, equity, respect and inclusion. During periods of change, these values remain consistent. Our people plans are driven through EVG and Engagement Survey feedback; this ensures the right balance between both business and people needs. To complement our people agenda, we have robust “safety roadmaps”, aligned to the Mineral Products Association’s high impact themes. These drive not only compliance, but improvement.
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