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 6,500 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$’000, except percentages)1H/20211H/2020FY2020FY2019FY2018FY2017FY2016
Revenue1,823,9301,368,6312,924,6143,640,1703,749,1133,049,1432,547,214
Gross Profit498,322365,922767,3001,131,5161,207,767977,872769,337
Gross Profit Margin27.3%26.7%26.2%31.1%32.2%32.1%30.2%
Profit/(Loss) attributable to shareholders of the Company175,014(269,845)(148,191)538,856409,603401,559339,373
Adjusted profit attributable to shareholders of the Company (1)214,220182,907313,409575,756618,326444,977344,212
Adjusted EBITDA(1)477,414409,842801,9441,101,4851,141,825917,623776,176
Adjusted EBITDA Margin26.2%29.9%27.4%30.3%30.5%30.1%30.5%
Net cash generated from operating activities310,981452,437888,652974,100777,585751,946633,473
Free cash flow from operations (1)(260,236)284,756363,930461,843215,877350,880246,846
Key Financial Information, As of
(in HK$’000, except percentages)6/30/202112/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016
Total Assets6,099,1505,672,2955,964,2425,567,9875,334,1454,607,389
Total Liabilities1,896,5871,639,3981,937,2852,883,8082,805,0722,627,364
Net Assets4,202,5634,032,8974,026,9572,684,1792,529,0731,980,025
Adjusted Return on Equity(1)8.4%7.8%17.2%23.9%19.8%17.9%
Net Gearing Ratio13.2%6.2%12.6%63.1%65.2%86.8%
Interest Coverage (Times)21.911.69.26.36.85.5
Note:
(1) As defined in 2021 Interim Results Announcement

Financial Reports

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