Meggitt Gross profit (H1, 2018)344.4 M

Meggitt Gross profit margin (H1, 2018), %36.2%

Meggitt Net income (H1, 2018)90.4 M

Meggitt EBIT (H1, 2018)123.8 M

Meggitt Cash, 30-Jun-2018103.7 M

Meggitt revenue was £2.03 b in FY, 2017 which is a 1.8% year over year increase from the previous period.

Meggitt revenue breakdown by business segment: 12.9% from Meggitt Equipment Group, 25.4% from Meggitt Sensing Systems, 16.6% from Meggitt Polymers & Composites, 26.0% from Meggitt Control Systems and 19.1% from Meggitt Aircraft Braking Systems

GBP | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|

## Revenue | 1.6b | 2.0b | 2.0b |

| 6% | 21% | 2% |

## Cost of goods sold | 997.2m | 1.2b | 1.2b |

## Gross profit | 650.0m | 775.2m | 793.3m |

| 39% | 39% | 39% |

## Operating expense total | 413.4m | 541.5m | 489.1m |

## EBIT | 236.6m | 233.7m | 304.2m |

| 14% | 12% | 15% |

## Interest expense | 29.1m | 40.2m | 43.2m |

## Interest income | 2.7m | 2.0m | 1.4m |

## Pre tax profit | 210.2m | 195.5m | 262.4m |

## Income tax expense | 28.1m | 24.3m | (87.6m) |

## Net Income | 182.1m | 171.2m | 350.0m |

- Source: Company Filings

GBP | H1, 2015 | H1, 2016 | H1, 2017 | H1, 2018 |
---|---|---|---|---|

## Revenue | 793.7m | 882.9m | 968.1m | 952.2m |

## Cost of goods sold | 473.5m | 547.4m | 586.9m | 607.8m |

## Gross profit | 320.2m | 335.5m | 381.2m | 344.4m |

| 40% | 38% | 39% | 36% |

## Operating expense total | 190.7m | 272.5m | 173.0m | 220.6m |

## EBIT | 63.0m | 208.2m | 123.8m | |

| 7% | 22% | 13% | |

## Interest expense | 17.3m | 23.4m | 19.1m | |

## Interest income | 900.0k | 700.0k | 500.0k | |

## Pre tax profit | 115.8m | 46.6m | 185.5m | 105.2m |

## Income tax expense | 16.2m | 4.5m | 24.9m | 14.8m |

## Net Income | 99.6m | 42.1m | 160.6m | 90.4m |

- Source: Company Filings

GBP | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|

## Cash | 145.4m | 173.8m | 118.5m |

## Accounts Receivable | 353.7m | 434.5m | 428.4m |

## Inventories | 415.2m | 468.5m | 452.7m |

## Current Assets | 928.2m | 1.1b | 972.3m |

## PP&E | 290.3m | 336.9m | 406.8m |

## Goodwill | 1.9b | 2.1b | 1.9b |

## Total Assets | 4.5b | 5.3b | 4.6b |

## Accounts Payable | 402.1m | 464.0m | 406.1m |

## Short-term debt | 4.0m | 175.7m | 71.4m |

## Current Liabilities | 492.2m | 760.2m | 645.9m |

## Long-term debt | 1.2b | 1.2b | 1.0b |

## Non-Current Liabilities | 1.9b | 2.1b | 1.6b |

## Total Debt | 1.2b | 1.3b | 1.1b |

## Total Liabilities | 2.4b | 2.9b | 2.3b |

## Common Stock | 38.8m | 38.8m | 38.8m |

## Additional Paid-in Capital | 1.2b | 1.2b | 1.2b |

## Retained Earnings | 661.9m | 630.6m | 642.7m |

## Total Equity | 2.2b | 2.5b | 2.3b |

## Debt to Equity Ratio | 0.5 x | 0.5 x | 0.5 x |

## Debt to Assets Ratio | 0.3 x | 0.3 x | 0.2 x |

## Financial Leverage | 2.1 x | 2.2 x | 2 x |

GBP | H1, 2015 | H1, 2016 | H1, 2017 | H1, 2018 |
---|---|---|---|---|

## Cash | 95.3m | 61.2m | 96.6m | 103.7m |

## Accounts Receivable | 309.9m | 393.8m | 406.7m | 411.9m |

## Inventories | 359.1m | 496.5m | 469.7m | 452.7m |

## Current Assets | 771.0m | 957.5m | 981.0m | 1.0b |

## PP&E | 254.2m | 313.4m | 323.9m | 405.3m |

## Goodwill | 1.5b | 2.0b | 2.0b | 2.0b |

## Total Assets | 3.9b | 4.9b | 5.0b | 4.7b |

## Accounts Payable | 330.7m | 377.9m | 391.7m | 389.4m |

## Short-term debt | 25.4m | 15.3m | 200.6m | 63.1m |

## Current Liabilities | 424.7m | 492.4m | 716.6m | 632.3m |

## Long-term debt | 776.2m | 1.3b | 1.0b | 1.1b |

## Non-Current Liabilities | 1.4b | 2.1b | 1.8b | 1.7b |

## Total Debt | 801.6m | 1.3b | 1.2b | 1.1b |

## Total Liabilities | 1.9b | 2.6b | 2.5b | 2.3b |

## Common Stock | 39.1m | 38.8m | 38.8m | 38.8m |

## Additional Paid-in Capital | 1.2b | 1.2b | 1.2b | 1.2b |

## Retained Earnings | 643.1m | 574.8m | 732.6m | 688.2m |

## Total Equity | 2.1b | 2.3b | 2.5b | 2.4b |

## Debt to Equity Ratio | 0.4 x | 0.6 x | 0.5 x | 0.5 x |

## Debt to Assets Ratio | 0.2 x | 0.3 x | 0.2 x | 0.2 x |

## Financial Leverage | 1.9 x | 2.1 x | 2 x | 2 x |

GBP | FY, 2015 | FY, 2016 | FY, 2017 |
---|---|---|---|

## Depreciation and Amortization | 160.9m | 206.7m | 266.8m |

## Cash From Operating Activities | 375.4m | 321.8m | 377.2m |

## Purchases of PP&E | (45.8m) | (51.7m) | (62.0m) |

## Cash From Investing Activities | (539.6m) | (130.9m) | (130.8m) |

## Long-term Borrowings | (67.4m) | (537.5m) | (224.2m) |

## Dividends Paid | (111.1m) | (113.0m) | (118.6m) |

## Cash From Financing Activities | 202.0m | (185.7m) | (296.9m) |

## Net Change in Cash | 37.8m | 5.2m | (50.5m) |

## Interest Paid | (16.2m) | (26.6m) | (34.9m) |

## Income Taxes Paid | (15.3m) | (27.4m) | (24.1m) |

GBP | H1, 2015 | H1, 2016 | H1, 2017 | H1, 2018 |
---|---|---|---|---|

## Depreciation and Amortization | 91.1m | 102.2m | 91.7m | |

## Cash From Operating Activities | 129.1m | 58.8m | 108.9m | 88.2m |

## Purchases of PP&E | (22.8m) | (22.2m) | (28.4m) | (29.4m) |

## Cash From Investing Activities | (90.0m) | (89.7m) | (27.6m) | (28.2m) |

## Long-term Borrowings | (1.1m) | (103.8m) | (100.7m) | |

## Dividends Paid | (75.6m) | (75.8m) | (79.6m) | (83.3m) |

## Cash From Financing Activities | (48.0m) | (59.7m) | (156.1m) | (73.9m) |

## Net Change in Cash | (8.9m) | (90.6m) | (74.8m) | (13.9m) |

## Interest Paid | (15.6m) | (18.0m) | (15.5m) | |

## Income Taxes Paid | (14.7m) | (10.2m) | (11.4m) |

GBP | Y, 2018 |
---|---|

## Debt/Equity | 0.5 x |

## Debt/Assets | 0.2 x |

## Financial Leverage | 2 x |

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FY, 2014 | H1, 2015 | FY, 2015 | H1, 2016 | FY, 2016 | H1, 2017 | FY, 2017 | H1, 2018 | |
---|---|---|---|---|---|---|---|---|

## Order Volume | £1.61 b | £775.30 m | £1.63 b | £911.80 m | £1.99 b | £966.80 m | £2.08 b | £1.09 b |

## Aircraft Fleet | 44 k | 45 k | 47 k | |||||

## Business Jet Delivery | 717 | 646 | 621 | |||||

## Business Jets | 17 k | 18 k | 18 k | 18 k | 19 k | 19 k | ||

## Jet Fleet | 21 k | 21 k | 21 k | 22 k | 22 k | 23 k | ||

## Large Jet Delivery | 1.39 k | 1.45 k | 1.51 k | |||||

## Manufacturing Facilities | 51 | 48 | ||||||

## Meggitt Aircraft Braking Systems | 34 k | 35 k | 34 k | 35 k | 35 k | 35 k | ||

## Regional Aircraft Delivery | 297 | 259 | 268 | |||||

## Regional Aircraft Fleet | 6 k | 6 k | 6 k | 6 k | 6 k | 6 k |

- Source: Company Filings

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