Blueprint Industrial Blueprint Industrial Engineering PLC: Final Results
30 Septembre 2015 - 1:08PM
UK Regulatory
TIDMBIE
Blueprint Industrial Engineering PLC: Final Results
Press Release 30 September 2015
BLUEPRINT INDUSTRIAL ENGINEERING PLC
("Blueprint" or the "Company")
Final Results
Blueprint Industrial Engineering Plc (CSE: BIE), the investment company, looking to build a portfolio of Nordic
engineering companies today announces its Final Results for the period ended 30 April 2015.
Highlights
- Acquisition of Forsbacka Rör & Projekt Teknik AB and Industrimontage i Jäderfors AB
- Revenue from acquisitions generated for the 3 month period since acquisition of GBP1,191,145 and pre-
tax profits of GBP22,532
- Listing on GXG Markets and subsequent move up to Cyprus Stock Exchange.
- Post period-end acquisition of a further subsidiary, Avrika Montage AB.
The directors of the company take responsibility for this announcement.
For further information, please contact:
Blueprint Industrial Engineering Plc
James Dishman Tel: +44 (0) 20 7629 2444
info@blueprintie.com http://www.blueprintie.com/Contact/
Alfred Henry Corporate Finance Ltd
Jon Isaacs / Nick Michaels Tel: +44 (0) 20 3328 5657
www.alfredhenry.com
Notes to Editors
Blueprint was created in London in February 2014 for the purpose of acquiring companies in the Nordic Region. Our goal
is to build a strong Nordic group of engineering businesses operating from the Nordic Countries servicing
international blue chip companies.
Blueprint completed two acquisitions in Sweden in 2014 and will continue to build the group of wholly owned companies.
We believe that the Nordic region is well regarded in terms of international corporate governance and transparency.
The Nordic region has a tradition of high quality engineering and manufacturing companies with a global market
presence.
For more information on the Company please visit: http://www.blueprintie.com
STRATEGIC REPORT FOR THE PERIOD FROM 1 OCTOBER 2014 TO 30 APRIL 2015
The Directors presents their strategic report with the audited financial statements of the Group for the period from 1
October 2014 to 30 April 2015.
The principal activity of the Group ("Blueprint") is the provision of engineering services to the steel, wood, paper
and energy sectors in Sweden, Finland, Norway and Denmark ("Nordic region").
Fair review of the business
Blueprint is currently focused on building an engineering group by acquiring financially strong, well run, high
quality engineering businesses in the Nordic region. An opportunity exists to consolidate part of the market in the
Nordic region of highly specialised engineering companies with proven, long-term contracts supplying multinational
corporations with specialist products and services.
Blueprint seeks 100% ownership of its acquisitions, and in some cases may merge companies. Significant opportunities
exist for reduced overheads, improved competitiveness, centralised marketing and winning larger contracts that small
companies would not otherwise be able to handle.
During the period under review the Group acquired Forsbacka Rör & Projekt Teknik AB and Industrimontage i Jäderfors
AB, companies providing engineering services in Sweden for GBP1,587,402 (SEK 19,804,698) from its former parent company
Blueprint Equity Partners Limited on 1 February 2015. The parent company acquired the subsidiaries on 5 May 2014 and
subsequently transferred them to the Company following a group reorganisation. The parent company acquired the
subsidiaries using a credit facility from TCA Global Credit Master Fund LP. ("TCA") of USD 2 million and pledged the
shares in the subsidiaries as collateral for the loan.
Revenue generated for the 3 month period since acquisition was GBP1,191,145 and pre-tax profits were GBP22,532. Full year
revenues for the 12 months ended 30 April 2015 were approximately GBP4.3 million generating pre-tax profits of
approximately GBP209,000.
On 23 March 2015 Blueprint listed debt securities on the Main Quote of GXG Markets. The Company subsequently listed on
the Cyprus Stock Exchange on 28 September 2015 following the closure of GXG Markets on 18 August 2015 leading to a
delay in the fund raising. The Company is offering up to 3.7 million 7.5% 5 year Bonds comprising debentures of GBP1 per
unit nominal value.
Following the delay in the fund raising the pledge referred to above was called in and the shares in the subsidiaries
are currently held by TCA. Once the loan is repaid the directors are confident that the shares will be returned.
Development and performance of the business
On 1 May 2015 Blueprint acquired a further subsidiary, Avrika Montage AB ("AMAB") for approximately GBP1.7 million (SEK
22 million). AMAB had revenue of GBP4.7 million and operating profits of GBP369,000 for the year ended 31 December 2014.
The Group recognises the risks it faces in connection with its business operations and monitors as part of its monthly
accounting and management reporting processes various key performance indicators. Most of which are commercially
sensitive in nature and therefore not detailed here. The key performance indicators include, total number of the
contracts, total revenue, debit and credit exposures and profit before tax.
CONSOLIDATED INCOME STATEMENT
FOR THE PERIOD FROM 1 OCTOBER 2014 TO 30 APRIL 2015
2015
GBP
Revenue 1,191,145
Personnel costs (717,210)
Other operating costs (453,712)
Operating profit 20,223
Finance income 5,055
Finance costs (2,746)
Net financing expense 2,309
Profit before tax 22,532
Income tax expense (8,173)
Profit for the year attributable to the owners of the Parent Company 14,359
Earnings per share
2015
GBP
Basic and diluted earnings per share 0.287
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2015
30 April
2015
GBP
Assets
Intangible assets 730,584
Property, plant and equipment 592,010
Total non-current assets 1,322,594
Inventory 42,727
Trade and other receivables 615,277
Current tax receivables 10,354
Cash and cash equivalents 2,525
Total current assets 670,883
Total assets 1,993,477
Equity
Issued capital 50,000
Translation reserve 38,195
Retained earnings 14,359
Total equity 102,554
Liabilities
Interest bearing loans and borrowings 100,178
Deferred tax 114,769
Total non-current liabilities 214,947
Interest-bearing loans and borrowings 242,982
Current tax liabilities 35,924
Trade and other payables 1,397,070
Total current liabilities 1,675,976
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