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Trifast plc Annual Report 2017

Holding the world together

We have been supplying specialised industrial fasteners to OEMs across Europe, USA and Asia for nearly 45 years.

Strategic Report

"Our core strategy remains the same; focused on being a full-service provider from value-add design and manufacture to global supply to our customers."

Mark Belton
Chief Executive Officer

Our governance

"I fundamentally believe that we now have the most competent and committed management teams across the Group that I have ever seen in my many years with the Company."

Malcolm Diamond MBE
Chairman

Our financials

"Another record breaking financial year with strong profitable growth across every region and continual improvements shown in our KPI's."

Clare Foster
Chief Financial Officer

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Invest in our key strengths

Design and application engineering know-how adds value throughout the purchasing cycle

High quality, low cost manufacturing across eight global locations forms the foundation of our industry reputation which is second to none

Reliable distribution and supply solutions around the world that flex to fit our customers’ needs

Continuous investment into quality and operations and supply keeps us one step ahead of our customer’ needs

A strong balance sheet and flexible banking facilities provide the confidence to invest for growth

Progressive dividend policy and creating shareholder value

Financial Highlights
Operational Highlights

Revenue

15.6%

Revenue chart

Underlying profit before tax^†

28.1%

Underlying profit before tax

† Please see the five year history for the GAAP measure

Underlying diluted earnings per share

28.3%

Underlying diluted earnings per share

Diluted earnings per share

22.4%

Return on capital employed

140bps

Dividend per share

25.0%

All regions experienced strong revenue growth at CER ranging from 4.6% in the UK to 12.3% in the US
Gross margin exceeds 30% for the first time in our history
Significant FX tailwinds add £2.4m to underlying profit before tax
Strong cash conversion reduces net debt to £6.4m (normalised £7.6m)
TR España – a base to grow from in one of Europe's most vibrant economies
Capital investment of £2.9m increases our manufacturing capacity and capabilities, with more to follow

Trifast culture

The Trifast Group prides itself on its family culture and this can be felt in every location, no matter where that is in the world

The world of Trifast

We have a reputation as a market leading global engineering, manufacturer and distributor of industrial fastenings and category 'C' components to a wide range of industries and customers.

Chairman's letter

We have dedicated ourselves to blending organic revenue growth with carefully chosen acquisitions under the umbrella of Continuous Improvement within our operational processes and procedures.

Our group business model

We are a 24/7 'full service provider' offering 'end-to-end' support to all our customers. Our success and ongoing growth is based on a unique mix of high quality manufacturing, sourcing know-how and adaptable, reliable global logistics.

Core strategy

Market research indicates that total global demand for fasteners is set to continue to grow.

Investing in people

Our people continue to be the driving force of our business and their length of service, their loyalty, their enthusiasm and their skills and experience form the backbone of our success

Investment driven growth

Growth needs investment, not just in terms of our people, but also via capital expenditure in our warehousing, manufacturing capacity and our digital capabilities.

Continue to add value and differentiate

Our application engineering teams help to differentiate us by bringing fastener solutions to our customers at all stages of the build, from initial design to ongoing manufacture

Acquisitions

A detailed acquisition strategy has been developed to identify key criteria and geographies, which is driving our proactive search for the next acquisition.

Operational efficiencies

As a Group, TR is committed to continuous improvement. We are always looking for ways to make our processes more efficient.

Trifast plc Annual Report 2017

Invest in our key strengths

Revenue

Underlying profit before tax†

Underlying diluted earnings per share

Diluted earnings per share

Return on capital employed

Dividend per share

Trifast culture

The world of Trifast

Chairman's letter

Our group business model

Strategy

Underlying profit before tax^†