Impro Investors

Investors

Overview

On June 28, 2019, Impro Precision Industries Limited (abbreviation: Impro Precision, stock code: 1286) was listed on the Main Board of The Stock Exchange of Hong Kong. Morgan Stanley and BOCI were the joint sponsors of the IPO.

Impro Precision was founded in 1998. The company is a global top 10 manufacturer of high-precision, high-complexity and mission-critical casting and machined components for diverse and dispersed end-markets, serving a number of globally recognized industry leaders. Impro Precision has established global manufacturing footprints and global service network, with 19 production facilities in China, Turkey, Germany, the Czech Republic and Mexico. Currently the company has more than 7,100 employees worldwide and its products are sold to more than 30 countries and regions.

According to the Roland Berger Report, Impro Precision is the world’s 7th largest independent and China’s largest investment casting manufacturer and also the world’s 4th largest precision machining company in the end-markets of automotive, aerospace and hydraulics. The company is also one of the few suppliers offering one-stop solutions, including initial research and development, tooling design and manufacturing, casting, heat treatment, secondary machining and surface treatment.

Stock Information

Financial Highlights

Key Financial Information
(in HK$’000, except percentages) FY2021 FY2020 FY2019 FY2018 FY2017
Revenue 3,777,701 2,924,614 3,640,170 3,749,113 3,049,143
Gross Profit 1,022,437 767,300 1,131,516 1,207,767 977,872
Gross Profit Margin 27.1% 26.2% 31.1% 32.2% 32.1%
Profit/(Loss) attributable to shareholders of the Company 382,780 (148,191) 538,856 409,603 401,559
Adjusted profit attributable to shareholders of the Company (1) 422,230 313,409 575,756 618,326 444,977
Adjusted EBITDA(1) 940,959 801,944 1,101,485 1,141,825 917,623
Adjusted EBITDA Margin 24.9% 27.4% 30.3% 30.5% 30.1%
Net cash generated from operating activities 424,336 888,652 974,100 777,585 751,946
Free cash flow from operations (1) (606,277) 363,930 461,843 215,877 350,880
Key Financial Information, As of
(in HK$’000, except percentages) 12/31/2021 12/31/2020  12/31/2019  12/31/2018  12/31/2017
Total Assets 7,042,289 5,672,295 5,964,242 5,567,987 5,334,145
Total Liabilities 2,662,908 1,639,398 1,937,285 2,883,808 2,805,072
Net Assets 4,379,381 4,032,897 4,026,957 2,684,179 2,529,073
Adjusted Return on Equity(1) 10.1% 7.8% 17.2% 23.9% 19.8%
Net Gearing Ratio 22.1% 6.2% 12.6% 63.1% 65.2%
Interest Coverage (Times) 18.5 11.6 9.2 6.3 6.8
Note:
(1) As defined in 2021 Annual Results Announcement

Financial Reports

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