DJ MBH Corporation delivers significant 31% revenue growth in 2022 amidst challenging business conditions.
MBH Corporation Plc (M8H) MBH Corporation delivers significant 31% revenue growth in 2022 amidst challenging business conditions. 28-Apr-2023 / 11:24 GMT/BST The issuer is solely responsible for the content of this announcement.
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The MBH Corporation has delivered a Group record-breaking revenue for 2022 of GBP142.8 million. This revenue increase, which was driven organically, represents an increase of 31% from 2021.
-- Revenue up by 31% to GBP142.8 million
-- Earnings Before Interest and Taxes (EBIT) GBP3.4 million
-- Continued solid financial position with net cash of GBP6.8 million
-- Reliable organic growth from eight MBH Corporation industry verticals
-- MBH Corporation Board proposes a dividend of EUR0.001 per share which is approximately a dividend yieldof 1.6% based on the share price as at 27 April 2023
28 April 2023, London: The Directors of MBH Corporation plc ("MBH"), a diversified investment holding company, are pleased to release the annual report for the year ended 31 December 2022, following a year that saw the business community emerge from a challenging business period. MBH achieved a sales growth of 31% to GBP142.8 million with strong demand for the Group company's products and services (Revenue 2021: GBP108.8 million). However, higher costs of doing business resulted in an Earnings Before Interest and Taxes (EBIT) decrease of 34% to GBP3.4 million. Net profit after tax was GBP2.2 million compared to the previous year 2021 of GBP0.1 million. The financial figures include the results of 23 companies for the full financial year ended 31 December 2022.
Solid financial position
The balance sheet of the Group remains very strong, with a 2022 year-end net asset position of GBP71.7 million, an increase of 14% over 2021. The Group's cash position remains healthy and in 2022 generated GBP3.6 million in cash flow from the Group's operating activities. As in 2022, Cash generation will continue to be a focus for the Group in 2023.
Group Verticals Performance
The revenue increase of 31% was led primarily by the Group's Construction and Engineering verticals - due to effective business development activities and a large order book. The Construction, Leisure and Education verticals collectively represent 86% of the Group's total revenue and 94% of total Group's EBIT.
Group Performance 2022 [audited]
Item 2022 [GBP000's] 2021 [GBP000's]
Revenue 142,844 108,765
EBIT 3,392 5,164
Net Profit after tax 2,181 66
Outlook 2023
Whilst MBH does not offer guidance to the market, it does intend to continue its growth in 2023 through acquisitions
- bringing new companies into the Group and continuing to strengthen its position. As in previous years, the MBH Corporation Board remains highly focused on identifying global and local businesses that it believes will continue to add value to shareholders in coming years.
The full MBH Corporation 2022 Annual Report is available on the MBH Corporation website at: https:// www.mbhcorporation.com/financial-report-2022
----------------------------------------------------------------------------------------------------------------------- Information and Explanation of the Issuer to this News:
Victoria Sylvester, CEO, MBH Corporation plc, said: 'We are pleased with the performance of the companies within the Group who continue to transform in how they operate and to remain at the forefront of their industry sector. The significant growth in revenue is testament not only to the level of product and service offering from the companies within the Group - but also to their resilience operating within competitive business environments.
MBH's growth in 2022 was organic and we would expect further increases in revenue and EBIT in 2023 resulting from new acquisitions made by the Group.
I would like to extend my sincere thanks to the Group company leadership and operational teams who continue to be consistent and relentless in supporting their clients and important audiences".
About MBH
MBH Corporation plc (M8H:GR) is a diversified investment holding company, listed on the Frankfurt and Dusseldorf Stock Exchanges and the Aquis Exchange in London. The company acquires small to medium enterprises across multiple geographies and sectors that are well established, profitable and looking to scale. By leveraging the Agglomeration strategy, MBH Corporation plc is able to create substantial shareholder value through the consistent and accretive acquisition of excellent companies.
mbhcorporation.com
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).?Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
For IR and media enquiries:
Charlotte Fordham
charlotte.fordham@mbhcorporation.com
+44 770 396 3953
Corporate Adviser
First Sentinel Corporate Finance Limited
Brian Stockbridge
brian@first-sentinel.com
+44 7876 888 011
----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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ISIN: GB00BF1GH114 Category Code: ACS TIDM: M8H LEI Code: 213800NXJ8SAXU8GBY43 Sequence No.: 240451 EQS News ID: 1620629 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
April 28, 2023 06:24 ET (10:24 GMT)
