Final Results for the year to 31 December 2016

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Strategic priority	2017	Future plans
Going for Growth	• Commercial excellence programme • Regional sales structure • Cross-selling • Key account management	• Full solution selling • Product development roadmap • Key account development
Make Service a Business	• Create services business • Secure installed base • Develop product portfolio • Mobilise sales organisation	• Life cycle ROI proposition • Promote contractual agreements • Maximise revenues and cash generation
Operational Efficiency	• New organisation • Right size operations • Shared services • Supply chain optimisation	• Flexible and responsive organisation & supply chain • Common processes and controls • Optimised shared services • KPIs to support strategy

	2016 £m	2015 £m
Loss for the period	(0.6)	(4.1)
Other comprehensive (expense)/income
Items that will not be reclassified to profit or loss Actuarial (losses)/gains Tax on items that will not be reclassified to profit or loss	(6.3) 2.0	24.6 (6.6)
	(4.3)	18.0
Items that may be reclassified subsequently to profit or loss Currency translation movements arising on foreign currency net investments Effective portion of changes in fair value of cash flow hedges Tax on items that may be reclassified to profit or loss	3.7 0.7 (0.2)	(2.2) (0.1) -
	4.2	(2.3)
Other comprehensive (expense)/income for the period	(0.1)	15.7
Total comprehensive (expense)/income for the period	(0.7)	11.6


	Note	2016 £m	2015 £m
Non-current assets Intangible assets Property, plant and equipment Investment property Employee benefits Deferred tax assets	6	15.2 8.5 0.8 4.6 4.6	14.9 8.0 0.8 10.6 4.2
		33.7	38.5
Current assets Inventories Trade and other receivables Current tax assets Cash and cash equivalents		13.0 24.5 0.2 9.0	15.1 17.9 - 10.4
		46.7	43.4
Current liabilities Bank overdraft Trade and other payables Current tax liabilities Provisions Provisions held within discontinued operations	9	(0.3) (25.9) (0.4) (1.7) -	(0.6) (18.9) (0.5) (1.2) (0.2)
		(28.3)	(21.4)
Net current assets		18.4	22.0
Total assets less current liabilities		52.1	60.5
Non-current liabilities Interest-bearing loans and borrowings Employee benefits Deferred tax liabilities	8 6	(7.9) (6.8) (2.0)	(13.0) (6.6) (4.3)
		(16.7)	(23.9)
Net assets	2	35.4	36.6
Equity Issued capital Share premium Reserves Retained earnings		5.0 26.0 5.9 (1.5)	5.0 26.0 1.7 3.9
Total equity		35.4	36.6

	Note	2016 £m	2015 £m
Operating activities Operating (loss)/profit from continuing operations Non-underlying items included in operating profit Amortisation Depreciation Other non-cash items Pension payments Working capital movements: - decrease in inventories - (increase)/decrease in trade and other receivables - increase/(decrease) in trade and other payables - decrease in provisions		(0.7) 1.8 1.5 1.3 0.2 (2.0) 3.5 (4.2) 5.6 (0.1)	2.9 1.1 1.4 1.2 0.2 (1.9) 2.2 6.4 (8.1) (0.1)
Cash flows from continuing operations before reorganisation Cash used in discontinued operations Reorganisation costs paid	9 3	6.9 (0.2) (0.3)	5.3 (1.2) (0.4)
Cash flows from operations Taxation paid		6.4 (0.2)	3.7 (0.1)
Cash flows from operating activities		6.2	3.6
Investing activities Interest received Proceeds from sale of property, plant and equipment Capitalised development expenditure Acquisition of intellectual property Acquisition of property, plant and equipment Net proceeds on disposal of discontinued operations	9	0.1 0.3 (1.2) - (1.2) -	0.1 0.4 (1.9) (0.2) (1.3) 0.2
Cash flows from investing activities		(2.0)	(2.7)
Financing activities Interest paid Purchase of own shares Net (decrease)/increase against revolving facilities Dividends paid		(0.3) - (5.2) (0.5)	(0.3) (0.1) 1.1 (1.1)
Cash flows from financing activities		(6.0)	(0.4)
Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at 1 January Effect of exchange rate fluctuations on cash held	7	(1.8) 9.8 0.7	0.5 9.8 (0.5)
Cash and cash equivalents at 31 December		8.7	9.8

	Packaging Machinery		Instrumentation & Tobacco Machinery		Total
	2016 £m	2015 £m	2016 £m	2015 £m	2016 £m	2015 £m
Revenue	41.5	51.0	38.6	36.0	80.1	87.0
Underlying segment operating profit Segment non-underlying items	0.7 (0.8)	3.9 -	0.4 (0.1)	0.1 (0.4)	1.1 (0.9)	4.0 (0.4)
Segment operating profit/(loss)	(0.1)	3.9	0.3	(0.3)	0.2	3.6
Unallocated non-underlying items (note 3)					(0.9)	(0.7)
Operating (loss)/profit Net financing expense					(0.7) (0.1)	2.9 (0.9)
(Loss)/profit before tax Taxation					(0.8) 0.2	2.0 (0.3)
(Loss)/profit for the period from continuing operations					(0.6)	1.7
Loss for the period from discontinued operations					-	(5.8)
Loss for the period					(0.6)	(4.1)

Segment assets Segment liabilities	23.2 (18.4)	18.7 (10.4)	30.3 (8.8)	31.9 (10.1)	53.5 (27.2)	50.6 (20.5)
Segment net assets - continuing operations	4.8	8.3	21.5	21.8	26.3	30.1
Unallocated net assets/(liabilities) Net liabilities - discontinued operations					9.1 -	6.7 (0.2)
Total net assets					35.4	36.6

2 March 2017

Molins PLC

Final Results for the year to 31 December 2016

Net current assets

Total assets less current liabilities

Net assets

Operating activities

Operating (loss)/profit from continuing operations

Amortisation

Depreciation

Other non-cash items

Pension payments

Working capital movements:

- decrease in inventories

- (increase)/decrease in trade and other receivables

- increase/(decrease) in trade and other payables

- decrease in provisions

Cash flows from continuing operations before reorganisation

Cash used in discontinued operations

Reorganisation costs paid

Cash flows from operations

Taxation paid

Cash flows from operating activities

Investing activities

Proceeds from sale of property, plant and equipment

Acquisition of intellectual property

Acquisition of property, plant and equipment

Cash flows from investing activities

Financing activities

Interest paid

Purchase of own shares

Net (decrease)/increase against revolving facilities

Dividends paid

Cash flows from financing activities

Companies

UK 100

Latest directors dealings

	Revenue (by location of customer)
Continuing operations	2016 £m	2016 %	2015 £m	2015 %

UK Europe (excl. UK) Africa & Middle East USA Americas (excl. USA) Asia Pacific	5.1 17.3 7.8 20.2 9.3 20.4	6 22 10 25 12 25	6.8 22.2 7.9 22.1 7.5 20.5	8 26 9 25 9 23
	80.1	100	87.0	100


Income	2016 £m	2015 £m
Revenue from trading activities	-	0.7
Costs from trading activities	-	(1.6)
Operating loss from trading activities	-	(0.9)
Proceeds from disposal	-	0.3
Costs incurred on disposal	-	(0.4)
Loss on disposal of net assets	-	(3.5)
Impairment of goodwill	-	(1.3)
Loss before and after tax	-	(5.8)


Cash flow	2016 £m	2015 £m
Operating activities
Operating loss	-	(0.9)
Depreciation	-	0.2
Net movements in working capital	(0.2)	0.2
Cash used in operations before reorganisation	(0.2)	(0.5)
Reorganisation costs paid	-	(0.7)
Cash flows from operating activities	(0.2)	(1.2)

Investing activities
Cash flows from investing activities - net proceeds on disposal	-	0.2

Net decrease in cash and cash equivalents	(0.2)	(1.0)