Flowtech Fluidpower PLC Audited Annual Financial Report FY2022 (5109X)
26 Abril 2023 - 1:01AM
UK Regulatory
TIDMFLO
RNS Number : 5109X
Flowtech Fluidpower PLC
26 April 2023
NEWS RELEASE
Issued on behalf of Flowtech
Fluidpower plc
Immediate Release
Wednesday, 26 April 2023
FLOWTECH FLUIDPOWER PLC
("the Company")
specialist full-service provider of technical fluid power
products and services to industry
PUBLICATION OF THE 2022 AUDITED ANNUAL REPORT
The Company's unaudited preliminary results for the year ended
31 December 2022 were released on 12 April 2023.
Following the completion of the audit by Grant Thornton, today
we publish the 2022 Audited Annual report and financial statements
which reconfirms the underlying EBITDA of GBP11.6m, net assets of
GBP81.3m and net debt of GBP16.0m. The final audited financial
statements include a reclassification of GBP94,000 between the
inventory and debtor balances.
http://www.rns-pdf.londonstockexchange.com/rns/5109X_1-2023-4-26.pdf
A copy of the Annual report will be available on the Company's
website at www.flowtechfluidpower.com . This together with the
Notice of the 2023 Annual General Meeting and Form of Proxy will be
sent to all shareholders by either electronic means or posted to
those who have elected to receive hard copies during May 2023 ahead
of the AGM scheduled to be held in June 2023.
ENQUIRIES :
-----------------------------------------
Flowtech Fluidpower plc
Russell Cash, Chief Financial Officer
& Company Secretary
Tel: +44 (0) 1695 52759
Email: info@flowtechfluidpower.com
Liberum (Nominated adviser and Sole
Broker)
Richard Lindley / Ben Cryer / Will King
Tel: +44 (0) 20 3100 2000
TooleyStreet Communications (IR and
media relations)
Fiona Tooley
Tel: +44 (0) 7785 703523
or email : fiona@tooleystreet.com
ABOUT FLOWTECH FLUIDPOWER PLC
(LSE: AIM symbol FLO)
Founded as Flowtech in 1983, the Flowtech Fluidpower Group is a group
of specialist fluid power businesses. Working in partnership with customers
and suppliers, we deliver essential components, customer solutions and
high-quality servicing support to keep global industry moving. The business
joined the AIM market in 2014. To read more about the Group please visit
www.flowtechfluidpower.com .
Segment: What we do: Locations:
----------------- ------------------------------------------------ ----------------------------
Flowtech
Our focus
Supply of both hydraulic and pneumatic Flowtech
consumables, predominantly through (Skelmersdale, Leicester,
distribution for maintenance and Birmingham)
repair operations across all industry Flowtechnology Benelux
markets but supported by supply agreements (Deventer)
direct to a broad range of original
equipment manufacturers (OEMs)
Channels to market:
E-commerce websites, customer white
label e-commerce websites, 70,000+catalogues,
own and customer trade counters
----------------- ------------------------------------------------ ----------------------------
Fluidpower
Group Solutions Our focus Primary Fluid Power
Supply specialist technical hydraulic Components (Skelmersdale)
components & systems, predominantly Nelson Hi-Power
into OEMs and end-user channels to (Dublin, Cork, Dungannon)
all industry markets, supported by HTL
supply agreements with a broad range (Ludlow)
of manufacturer brands Hydroflex
(Brussels, Rotterdam
Channels to market: and OudBeijerland)
Engineering collaboration through Derek Lane & Co
sales offices providing national (Newton Abbot)
and local coverage. In 2022 enhanced HES Tractec
by new e-commerce capabilities (Gloucester)
----------------- ------------------------------------------------ ----------------------------
Fluidpower
Group Services Our focus
Bespoke design, manufacturing, commissioning, Primary Fluid Power
installation, and servicing of systems Systems
to manufacturers of specialised industrial (Knowsley)
and mobile hydraulic OEMs, and additionally Branch Hydraulic Systems
a wide range of industrial end users. (Gloucester)
Capital project-based revenue. HES Onsite
(Leeds, Gloucester)
Channels to market: Orange County
In-house design and build, combined (Spennymoor)
with on-site installation, servicing Hi Power Transport
and support (Dublin, Cork, Belfast)
----------------- ------------------------------------------------ ----------------------------
All the Group's divisions have overlapping product sets, allowing procurement
synergies to be maximised. The above segments are supported by centralised
back-office teams based at Skelmersdale and Wilmslow sites in the UK.
In total, the business employs 572 people.
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END
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