Investment Case

Priorities for capital

Data for year ending 31st December 2020.
Organic growth

Capital investment remains core to strategic growth.

Capex of £30 million planned for 2021.

Delivery over the last 4 years
2017
2018
2019
2020
R&D and NPD
  • Continued focus on R&D and NPD.
  • New product ranges.
  • Digital strategy progressing well - e-trading platform established.
Delivery over the last 4 years
2017
2018
2019
2020
Ordinary dividends

Furlough and deferred VAT monies repaid

Dividend re-instated

Maintaining dividend cover of 2 times earnings over the business cycle

Delivery over the last 4 years
2017
2018
2019
2020
Selective acquisitions

Good pipeline of potential acquisitions

Target selective bolt-on acquistion opportunities in New Build Housing, Water Management, Landscape Protection and Minerals

Delivery over the last 4 years
2017
2018
2019
2020
Supplementary dividends
Supplementary dividends when appropriate. Discretionary and non-recurring.
Delivery over the last 4 years
2017
2018
2019
2020

At a glance

Data for year ending 31st December 2020.

Growth agenda

A strategy driven by organic growth, digital investment and selective acquisitions.
Digital Investment over last 4 years
£12m

Innovation and NPD

We continue to focus oninnovation and new product development, and continue to invest in digital, manufacturing and materials technology capabilities.
 
New product ranges launched in the last 2 years
132

Strong market position

Wide market reach targeting strong growth areas, e.g. New Build Housing, Road and Rail, Infrastructure and Water Management.
CPA growth forecast for 2021 - (2022: 4.9%) (total construction output)
14.0%

Focus on ESG and sustainability

Our sustainability strategy is built on our vision of creating better spaces and fixtures for everyone.
Science Based Target initiatives commitment set
50% reduction
in the Group's total carbon footprint (total CO2e including transport) since 2008

Diversified group

Serving Public Sector, Commercial and Domestic end markets. Wide-ranging mineral reserves with the “Marshalls Stone Standard” quality mark.
Domestic revenue growth in 2020 HY2
9%

Efficient manufacturing network

Well-invested manufacturing plants with continuing emphasis on high-quality maintenance, technology improvements and re investment.
Capital investment planned for 2021
£30m

Strong and efficient balance sheet

Strong balance sheet with low gearing of 26.3 per cent (9.3 per cent on a pre-IFRS 16 basis).
Net debt:EBITDA
1.3 times
(0.6 times on a pre-IFRS 16 basis)

Culture

The Marshalls Way underpins our culture along with our key objective fo doing business responsily. The corporate culture is embedded into our engagement with stakeholders.
Culture
7 Years
Fair Tax Mark accreditation