Titon : Interim Presentation (6 months to 31st March 2023)

Titon Holdings Plc

Interim Results 31 March 2023

Titon summary

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Established market

player

Strong market drivers

and wider trends

Diversified global

footprint and revenue

streams

Marketing leading and diverse product range

Strong balance sheet

• An established and leading company in the UK ventilation industry supplying ventilation and door and window products
• 50 years of experience and reputation
• Has led product developments in the market and continues to innovate whilst providing a strong voice into future market and regulatory developments
• Building regulations and associated standards continue to support and drive the demand for natural and mechanical ventilation products; latest updates released in 2022
• Increasing focus on high air quality in UK, European and Korean markets underpin need for ventilation, especially given COVID-19
• The drive for energy efficiency means an increasing focus on ensuring buildings are adequately ventilated
• Diversified revenue streams through exposure to both commercial and residential property markets as well as new build and RM&I projects in UK
• Also has established business activities in South Korea, Europe and the US
• Diversified product ranges covering both natural and mechanical ventilation as well as window and door hardware
• Strong investment in R&D ensures market leading product offering across all product ranges
• Innovative, award winning products
• Strong pipeline of new products to meet future market requirements
• £1.6m cash balance at 31 March 2023 and no borrowings
• Net assets of £15m at 31 March 2023

Business overview

The Executive team

The Executive Leadership Team has been strengthened with further appointments ongoing

CEO

Vacant

Carolyn Isom

Chief Financial

Officer

Joanne

Barraclough

Head of People

Paul Tarling

Operations

Director

James Fisher

Commercial

Director

Paul Cowell

Technical

Director

Tyson Anderson

Business

Projects Director

Group structure

A diverse business with two distinct product streams

Titon Holdings Plc

Ownership:100%

Titon Hardware

(UK)

UK and European trading company.

• 86% of Group revenues

Two divisions:

Window and Door Hardware

• Represents 54% of the Group's UK and European revenue

Ventilation Systems

• Established in 2007 to manufacture and sell mechanical ventilation products. Now represents 46% of current UK and European revenue

Ownership:100%

Titon Inc.

(USA)

• US trading subsidiary, selling trickle vents to window manufacturing customers in the US
• 2% of Group revenues

51% Subsidiary

Titon Korea

(South Korea)

• 12% of Group revenues
• Consolidated into Titon's Accounts
• Manufactures window ventilators for new build construction projects exclusively for the South Korean market
• These products are sold to BTS, who sells on to its customers

49% Associate

Browntech Sales

(South Korea)

• Treated as an Associate (non-consolidated)
• Responsible for selling products manufactured by Titon Korea
• Has strong net asset backing