STRATEGIC REPORT | CHAIRMAN'S STATEMENT
LPA GROUP PLC
Annual Report & Accounts 2022
ANNUAL REPORT & ACCOUNTS 2022 | 1 |
LPA Group Plc
Manufacturing the future
LPA GROUP
Is a market leading designer, manufacturer and supplier of high reliability LED lighting, electronic and electromechanical systems, and a distributor of engineered components
Employs approximately 140 people at three locations in the UK
Is focused on rail, aviation, defence, infrastructure and industrial markets
Has developed a successful export capability and global distribution network. Around a third of turnover is exported to over 50 countries
Is known for innovating cost-effective engineering solutions in hostile and challenging applications, to improve product reliability, reduce maintenance and life cycle costs
Supplies to a wide range of leading organisations including Alstom, Avanti, BAA, BAE Systems, CAF, Compin, CRRC, Downer EDI, First Group, Grammer, Heathrow Airport, Hitachi, ITW GSE, Kinki Sharyo, Knorr Bremse, Leonardo, Omer, Shanghai Pudong Airport, Siemens, SNCF, Stadler, Spirit Aerospace, Taiwan Rolling Stock Company, Transport for London, Unipart Rail and Wabtec
2 | ANNUAL REPORT & ACCOUNTS 2022 |
Financial & Operational Highlights
For the Year ended 30 September 2022
2022 | 2021 | |
£000 | £000 | |
Order Entry | 19,689 | 23,163 |
Order Book | 27,762 | 27,350 |
Revenue | 19,325 | 18,265 |
Underlying Operating (Loss)* | (226) | (274) |
Share Based Payments & Exceptional Items | 1,310 | (74) |
Profit/(Loss) before Tax | 1,074 | (387) |
Basic Earnings/(Loss) Per Share | 8.99p | (0.17)p |
Gearing** | 3.5% | 11.9% |
- Operating Profit/(Loss) before Share Based Payments and Exceptional Items
** Net Debt as a % of Total Equity
Through the year to 30 September 2022, the year included the following highlights and operational developments:
Record year for our new LED tube product with significant orders from UK and worldwide customers. This is an important step as we approach the September 2023 ban across the EU on the sale of old technology fluorescent tubes.
Excellent year for new Plane Power range of products with customers now including - Heathrow, Shanghai, Beijing, Copenhagen, Melbourne, Auckland, Stockholm and Schiphol airports.
Appointment of first employee outside of the UK in support of growth plans for the DACH region. This is an essential resource in support of some of the biggest rolling stock customers in the world.
Continued growth of distribution network to support growth plans for both our electronic / lighting, and electromechanical business divisions.
Successful delivery of the Viaggio Nightjet / ÖBB project, which is the most technically advanced intelligent lighting system ever undertaken by the Group. This is a flagship platform for the customer with further follow-on orders expected.
ANNUAL REPORT & ACCOUNTS 2022 | 1 |
Contents
FINANCIAL & OPERATIONAL HIGHLIGHTS | 1 |
STRATEGIC REPORT | 5 |
Chairman's Statement | 5 |
Business Model and Strategy | 8 |
Environmental, Social and Governance | 10 |
Chief Executive Officer's Review | 12 |
Financial Review | 14 |
Principal Risks and Uncertainties | 18 |
Key Performance Indicators | 20 |
BOARD REPORTS | 21 |
Audit Committee Report | 22 |
Remuneration Report | 23 |
Corporate Governance Report | 26 |
Directors' Report | 33 |
COMPANY INFORMATION | 37 |
GROUP FINANCIAL STATEMENTS | 41 |
Independent Auditor's Report to the Members of LPA Group plc | 42 |
Consolidated Income Statement | 50 |
Consolidated Statement of Comprehensive Income | 51 |
Consolidated Balance Sheet | 52 |
Consolidated Statement of Changes in Equity | 53 |
Consolidated Cash Flow Statement | 54 |
Notes to the Financial Statements | 56 |
COMPANY FINANCIAL STATEMENTS | 89 |
Company Balance Sheet | 90 |
Company Statement of Changes in Equity | 91 |
Company Notes to the Financial Statements | 92 |
OTHER INFORMATION | 99 |
NOTICE OF MEETING | 102 |
FORM OF PROXY | 107 |
ANNUAL REPORT & ACCOUNTS 2022 | 3 |
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LPA Group plc published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2023 08:58:03 UTC.