eleco interim reports 2010/2011

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Eleco plc Interim Report 2011 Eleco is a group focused on key components of a modern construction project. Building Systems used in the fabric of the building, Software tools used to manage the construction project and sustainable construction to enhance environmental performance.

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  • Building on technology defines Eleco which applies the latest technologies to drive improved Modern Methods of Construction, Improved Management and Execution of Projects and continuing improvement in Sustainable Construction methods.

    Eleco people and companies aspire to deliver value to Eleco customers, employees, shareholders and their communities by providing them with economical and environmentally sound construction methodologies, first class service and technical support.

    Mission and Vision

    Eleco applied the principles of modern methods of construction (MMC) prior to 1997, the year when Sir John Egan highlighted the benefits to be gained from the application of MMC to the build process. MMC is now increasingly regarded as a key aid to improving quality, reducing time spent on site, improving on-site safety and overcoming skills shortages.

    Modern Methods of Construction (MMC)

    Construction companies and their clients are increasingly turning to software in pursuit of greater efficiency. Eleco anticipated this demand and began investing in software technology in 2000.

    Eleco software now has a suite of software tools to manage each stage of the construction project life cycle from project visualisation, through design, cost estimation and project management to site management.

    Improved Project Management and Execution

    Meeting the needs of the present without compromising the ability of future generations to meet their own needs. Eleco recognises that sustainability is about environmental performance of the product throughout its lifespan. Eleco is focused on achieving materials efficiency, faster construction times and efficient resource management.

    Sustainable Construction

    Building on Technology

    Modern Methods of Construction

    Improved Management and Execution of Projects

    Sustainable Construction

    Building ontechnology

    Eleco plc66 Clifton StreetLondon EC2A 4HBTel: +44 (0)20 7422 0044E-mail: info@eleco.comWebsite: www.eleco.com

    Eleco plcInterim Report2011

  • Building on technology defines Eleco which applies the latest technologies to drive improved Modern Methods of Construction, Improved Management and Execution of Projects and continuing improvement in Sustainable Construction methods.

    Eleco people and companies aspire to deliver value to Eleco customers, employees, shareholders and their communities by providing them with economical and environmentally sound construction methodologies, first class service and technical support.

    Mission and Vision

    Eleco applied the principles of modern methods of construction (MMC) prior to 1997, the year when Sir John Egan highlighted the benefits to be gained from the application of MMC to the build process. MMC is now increasingly regarded as a key aid to improving quality, reducing time spent on site, improving on-site safety and overcoming skills shortages.

    Modern Methods of Construction (MMC)

    Construction companies and their clients are increasingly turning to software in pursuit of greater efficiency. Eleco anticipated this demand and began investing in software technology in 2000.

    Eleco software now has a suite of software tools to manage each stage of the construction project life cycle from project visualisation, through design, cost estimation and project management to site management.

    Improved Project Management and Execution

    Meeting the needs of the present without compromising the ability of future generations to meet their own needs. Eleco recognises that sustainability is about environmental performance of the product throughout its lifespan. Eleco is focused on achieving materials efficiency, faster construction times and efficient resource management.

    Sustainable Construction

    Building on Technology

    Modern Methods of Construction

    Improved Management and Execution of Projects

    Sustainable Construction

    Building ontechnology

    Eleco plc66 Clifton StreetLondon EC2A 4HBTel: +44 (0)20 7422 0044E-mail: info@eleco.comWebsite: www.eleco.com

    Eleco plcInterim Report2011

  • Eleco plc

    Partition Walls

    Precast Concrete

    Timber Engineering

    Building Products

    Metal Roofing & Cladding

    Project Management

    Design & Engineering

    Estimation CAD and 3D Visualisation

    Visualisation

    Milbury Systems Ltd

    International Truss Systems

    (Pty) Ltd

    Gang-Nail Systems Ltd

    Downer Cladding

    Systems Ltd

    Prompt Profiles Ltd

    ASTA Development

    GmbHConsultec A&K AB

    Eleco Software GmbH

    Stramit Panel Products

    Bell & Webster

    Concrete LtdEleco Timber

    Frame LtdSpeedDeck

    Building Systems Ltd

    ASTA Development

    LtdConsultec System AB

    Consultec Byggprogram

    ABEleco

    Software LtdEsign GmbH

    Building Systems Software

    Eleco is focused on key components of a modern construction project. Building Systems used in the fabric of the building, Software tools used to manage the construction project and Sustainable Construction to enhance environmental performance.

    Eleco Building Systems Eleco Software

    Group HighlightsGroup Operations

    Group Financial Performance

    Turnover amounted to 31.8m (H1 2009: 32.5m).Group adjusted operating loss before amortisation and restructuring costs of 0.7m (H1 2009: loss 0.7m).Loss before tax of 1.7m (H1 2009: loss 2.2m).Loss per share of 2.8p (H1 2009: loss 3.5p).Net bank debt at 31 December 2010 of 5.7m (H1 2009: 2.1m).

    Group Operational Performance

    Improved operating performance at Software with strong growth in turnover and profits.Building Products marginally profitable with poor performance at Eleco Timber Frame offset by profits in other businesses.Further loss, albeit significantly less than in second half of last year, in Precast Concrete operations, principally caused by losses on custodial contracts and adverse weather in December.Gross margin maintained due to change in revenue mix.Reduced cost base with administrative expenses down over 10% compared to the previous six month period.

    Pension

    The deficit shown in the accounts at 30 June 2010 has reduced by 1.5m, from 9.8m to 8.3m, primarily due to investment performance in the period.

    Board Appointment

    Group management strengthened with the appointment of Matthew Turner, initially part time, as Group Finance Director in January.

    Change of Accounting Reference Date

    Change of accounting reference date to 31 December for operational reasons. An unaudited second interim report will be released for the period ended 30 June 2011. The preliminary results for the 18 months ended 31 December 2011 will be released no later than 31 March 2012.

    Outlook

    Our Precast Concrete and Building Products businesses were affected by further adverse weather in January 2011. However, the Board is of the view that our Building Products operations will produce a modest improvement although our Precast Concrete interests will continue to experience operational difficulties until the four major custodial accommodation contracts have been completed, which is expected by the end of June 2011. The Board is also of the view that our Software interests will perform well in the second six months.

    Strategy

    The Board plans to concentrate on expansion of its software and service operations while reducing the current emphasis on Building Products and currently loss making Precast Concrete manufacturing interests.The Board believes that this strategy will significantly reduce the financing requirements of the Groups Building Products and Precast Concrete interests while facilitating the planned expansion of the Groups Software interests, both in the UK and internationally.

    Eleco Building Systems focuses on modern methods of construction to provide materials efficiency and construction speed in precast concrete, timber frame and metal.

    Eleco Software provides software applications to help construction businesses manage each stage of their project life cycle, satisfying their drive for greater efficiency through improved management of projects.

  • Eleco plc

    Partition Walls

    Precast Concrete

    Timber Engineering

    Building Products

    Metal Roofing & Cladding

    Project Management

    Design & Engineering

    Estimation CAD and 3D Visualisation

    Visualisation

    Milbury Systems Ltd

    International Truss Systems

    (Pty) Ltd

    Gang-Nail Systems Ltd

    Downer Cladding

    Systems Ltd

    Prompt Profiles Ltd

    ASTA Development

    GmbHConsultec A&K AB

    Eleco Software GmbH

    Stramit Panel Products

    Bell & Webster

    Concrete LtdEleco Timber

    Frame LtdSpeedDeck

    Building Systems Ltd

    ASTA Development

    LtdConsultec System AB

    Consultec Byggprogram

    ABEleco

    Software LtdEsign GmbH

    Building Systems Software

    Eleco is focused on key components of a modern construction project. Building Systems used in the fabric of the building, Software tools used to manage the construction project and Sustainable Construction to enhance environmental performance.

    Eleco Building Systems Eleco Software

    Group HighlightsGroup Operations

    Group Financial Performance

    Turnover amounted to 31.8m (H1 2009: 32.5m).Group adjusted operating loss before amortisation and restructuring costs of 0.7m (H1 2009: loss 0.7m).Loss before tax of 1.7m (H1 2009: loss 2.2m).Loss per share of 2.8p (H1 2009: loss 3.5p).Net bank debt at 31 December 2010 of 5.7m (H1 2009: 2.1m).

    Group Operational Performance

    Improved operating performance at Software with strong g

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