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 20 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$’mil, except percentages) FY2022 FY2021 FY2020 FY2019 FY2018
Revenue 4,354.7 3,777.7 2,924.6 3,640.2 3,749.1
Gross Profit 1,261.0 1,022.4 767.3 1,131.5 1,207.8
Gross Profit Margin 29.0% 27.1% 26.2% 31.1% 32.2%
Profit/(Loss) attributable to shareholders of the Company 582.0 382.8 (148.2) 538.8 409.6
Adjusted profit attributable to shareholders of the Company (1) 649.1 422.2 313.4 575.7 618.3
Adjusted EBITDA(1) 1,227.6 940.9 801.9 1,101.5 1,141.8
Adjusted EBITDA Margin 28.2% 24.9% 27.4% 30.3% 30.5%
Net cash generated from operating activities 837.5 424.3 888.7 974.1 777.6
Free cash flow from operations (1) 169.0 (606.3) 364.0 461.8 215.9
Basic earnings/(loss) per share (HK Cents) 30.9 20.3 (7.9) 31.8 32,050.0
Adjusted basic earnings per share (HK Cents) 34.5 22.4 16.6 34.0 N/A
Dividend per share (HK cents) 16.0 10.1 4.2 7.2 8,010.0
Key Financial Information, As of
(in HK$’mil, except percentages) 12/31/2022 12/31/2021 12/31/2020  12/31/2019  12/31/2018
Total Assets 7,763.0 7,042.3 5,672.3 5,964.2 5,568.0
Total Liabilities 3,365.0 2,662.9 1,639.4 1,937.2 2,883.8
Net Assets 4,398.0 4,379.4 4,032.9 4,027.0 2,684.2
Adjusted Return on Equity(1) 14.9% 10.1% 7.8% 17.2% 23.9%
Net Gearing Ratio 39.2% 22.1% 6.2% 12.6% 63.1%
Interest Coverage (Times) 13.4 18.5 11.6 9.2 7.8
Note:
(1) As defined in 2022 Annual Results Announcement

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