Williams Grand Prix Holdings PLC : WILLIAMS REPORTS 2011 ANNUAL RESULTS - TURNOVER AND EBIT INCREASE, EARNINGS PER SHARE UP
DGAP-News: Williams Grand Prix Holdings PLC / Key word(s): Final
Results
Williams Grand Prix Holdings PLC : WILLIAMS REPORTS 2011 ANNUAL
RESULTS - TURNOVER AND EBIT INCREASE, EARNINGS PER SHARE UP
09.03.2012 / 08:54
---------------------------------------------------------------------
WILLIAMS REPORTS 2011 ANNUAL RESULTS - TURNOVER AND EBIT INCREASE, EARNINGS
PER SHARE UP
9 March, 2012. Grove, UK. Williams Grand Prix Holdings PLC (WGPH, Ticker:
WGF1) today announced the Group's results for the year ended 31 December
2011. WGPH is the holding company of the Williams group of companies, which
includes Williams Grand Prix Engineering Limited and Williams Hybrid Power
Limited.
On a like for like basis the core business, which combines the traditional
Formula One business and diversification using our Formula One derived IP,
has seen turnover increase from £90.8m to £102.3m, and EBIT increase from
£8.2m to £9.8m. This has driven an overall Group turnover of £104.5m (2010:
£91m) and an EBIT increase of 20.6% to £7.6m.
The results of the investment businesses, Williams Hybrid Power and
Williams Technology Centre Qatar, are growing as expected and are in line
with the board's long-term business plan.
Our key figures are:
Overall Group results
- Turnover increased by 14.8% to £104.5m (2010: £91m)
- EBIT up 20.6% from £6.3m (2010) to £7.6m
- Net profit up 30% from £6.0m to £7.8m
- Earnings per share up by 34.6% from 60.26 pence to 81.10 pence
Core business results:
- Turnover increased by 12.7% to £102.3m (2010: £90.8m)
- EBIT up by 19.5% from £8.2m (2010) to £9.8m
- Net profit up 24.7% from £7.7m to £9.6m
Investment business results:
- The Williams Technology Centre Qatar (WTCQ) EBIT improved in line with
expectation:
-£0.3m from -£0.8m in 2010
- Williams Hybrid Power (WHP) turnover up from £0.2m (2010) to £2.1m, with
WHP EBIT as expected: -£1.9m (2010: -£1.1m), due to significant ongoing R&D
investments
Chairman Adam Parr said: 'The Group has enjoyed a strong performance over
the last 12 months, in spite of continuing difficulties in the global
economy. Our 2011 Annual Report shows strong results and our current cash
position is excellent. At 29th February 2012, the Group held net cash of
£29.2 million. We can therefore look ahead with confidence. We have made a
number of new technical appointments that will strengthen our performance
in Formula One and we are delighted with our new partnerships with Renault
in Formula One and Jaguar on the C-X75 hybrid supercar project. Our new
business developments across Williams Hybrid Power, Williams Advanced
Engineering and the Williams Technology Centre Qatar are delivering
promising results.'
^
Core WTCQ WHP Group
2011
Turnover (£m) 102.3 0.1 2.1 104.5
EBIT (£m) 9.8 -0.3 -1.9 7.6
Net Profit 9.6 -0.3 -1.5 7.8
EPS 81.10p
2010
Turnover (£m) 90.8 - 0.2 91
EBIT (£m) 8.2 -0.8 -1.1 6.3
Net Profit 7.7 -0.8 -0.9 6.0
EPS 60.26p
°
- Ends -
Please click here to view a pdf version of this release:
http://www.williamsf1.com/downloads/pdf/09_03_12_Annual_Results.pdf
For more information please visit www.williamsf1.com/investors
Thank you.
The Williams F1 Communications Office
Media Contact: James Francis, Communications Executive: +44 7788 317639
james.francis@williamsf1.com
Williams Grand Prix Holdings PLC
Williams Grand Prix Holdings PLC is the holding company of the Williams
group of companies ('Group') which includes Williams Grand Prix Engineering
Limited and Williams Hybrid Power Limited. The Group has established the
Williams Technology Centre in Qatar which is a branch of Williams Grand
Prix Engineering Limited.
The Group employs approximately 550 personnel throughout its business. Its
revenues are currently derived almost exclusively from its Formula One
business, including commercial sponsorships and the team's share of the
Formula One commercial rights income.
The Group's aim is to be a championship-winning Formula One team and a
world-class technology business generating steady returns for shareholders
through the economic cycle.
Williams Grand Prix Engineering Limited
Formed in 1977 by Frank Williams and Patrick Head, Williams Grand Prix
Engineering Limited's core competencies are the design and manufacture of
Formula One race cars and the deployment of this expertise in running the
team's entries in each season's Grands Prix.
One of the world's leading Formula One teams, the company has secured 16
FIA Formula One World Championship titles in the past thirty four years.
Nine of these titles have been won in the Constructors' Championship in
association with Cosworth, Honda and Renault. The remaining seven titles
are Drivers' Championships, won with Alan Jones, Keke Rosberg, Nelson
Piquet, Nigel Mansell, Alain Prost, Damon Hill and Jacques Villeneuve.
The Williams F1 Team is one of the most vertically-integrated of Formula
One teams with first-class design and manufacturing facilities on its 33
hectare site in Oxfordshire, England.
Williams Grand Prix Engineering Limited aims to develop substantial
revenues from exploiting its brand, intellectual property and rapid
development skills in projects outside Formula One.
Williams Hybrid Power Limited
Williams Hybrid Power Limited is a company specialising in
magnetically-loaded composite flywheels which are used as energy storage
devices in small and medium sized applications such as automobiles, buses,
trams and light rail.
Williams Technology Centre Qatar
The Williams Technology Centre in Qatar is developing large magnetically
loaded composite flywheels for use in trains or static applications such as
grid stabilisation, and commercial applications of the Group's motorsport
simulation technology.
End of Corporate News
---------------------------------------------------------------------
09.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
159947 09.03.2012
DGAP-News: Williams Grand Prix Holdings PLC / Key word(s): Final
Results
Williams Grand Prix Holdings PLC : WILLIAMS REPORTS 2011 ANNUAL
RESULTS - TURNOVER AND EBIT INCREASE, EARNINGS PER SHARE UP
09.03.2012 / 08:54
---------------------------------------------------------------------
WILLIAMS REPORTS 2011 ANNUAL RESULTS - TURNOVER AND EBIT INCREASE, EARNINGS
PER SHARE UP
9 March, 2012. Grove, UK. Williams Grand Prix Holdings PLC (WGPH, Ticker:
WGF1) today announced the Group's results for the year ended 31 December
2011. WGPH is the holding company of the Williams group of companies, which
includes Williams Grand Prix Engineering Limited and Williams Hybrid Power
Limited.
On a like for like basis the core business, which combines the traditional
Formula One business and diversification using our Formula One derived IP,
has seen turnover increase from £90.8m to £102.3m, and EBIT increase from
£8.2m to £9.8m. This has driven an overall Group turnover of £104.5m (2010:
£91m) and an EBIT increase of 20.6% to £7.6m.
The results of the investment businesses, Williams Hybrid Power and
Williams Technology Centre Qatar, are growing as expected and are in line
with the board's long-term business plan.
Our key figures are:
Overall Group results
- Turnover increased by 14.8% to £104.5m (2010: £91m)
- EBIT up 20.6% from £6.3m (2010) to £7.6m
- Net profit up 30% from £6.0m to £7.8m
- Earnings per share up by 34.6% from 60.26 pence to 81.10 pence
Core business results:
- Turnover increased by 12.7% to £102.3m (2010: £90.8m)
- EBIT up by 19.5% from £8.2m (2010) to £9.8m
- Net profit up 24.7% from £7.7m to £9.6m
Investment business results:
- The Williams Technology Centre Qatar (WTCQ) EBIT improved in line with
expectation:
-£0.3m from -£0.8m in 2010
- Williams Hybrid Power (WHP) turnover up from £0.2m (2010) to £2.1m, with
WHP EBIT as expected: -£1.9m (2010: -£1.1m), due to significant ongoing R&D
investments
Chairman Adam Parr said: 'The Group has enjoyed a strong performance over
the last 12 months, in spite of continuing difficulties in the global
economy. Our 2011 Annual Report shows strong results and our current cash
position is excellent. At 29th February 2012, the Group held net cash of
£29.2 million. We can therefore look ahead with confidence. We have made a
number of new technical appointments that will strengthen our performance
in Formula One and we are delighted with our new partnerships with Renault
in Formula One and Jaguar on the C-X75 hybrid supercar project. Our new
business developments across Williams Hybrid Power, Williams Advanced
Engineering and the Williams Technology Centre Qatar are delivering
promising results.'
^
Core WTCQ WHP Group
2011
Turnover (£m) 102.3 0.1 2.1 104.5
EBIT (£m) 9.8 -0.3 -1.9 7.6
Net Profit 9.6 -0.3 -1.5 7.8
EPS 81.10p
2010
Turnover (£m) 90.8 - 0.2 91
EBIT (£m) 8.2 -0.8 -1.1 6.3
Net Profit 7.7 -0.8 -0.9 6.0
EPS 60.26p
°
- Ends -
Please click here to view a pdf version of this release:
http://www.williamsf1.com/downloads/pdf/09_03_12_Annual_Results.pdf
For more information please visit www.williamsf1.com/investors
Thank you.
The Williams F1 Communications Office
Media Contact: James Francis, Communications Executive: +44 7788 317639
james.francis@williamsf1.com
Williams Grand Prix Holdings PLC
Williams Grand Prix Holdings PLC is the holding company of the Williams
group of companies ('Group') which includes Williams Grand Prix Engineering
Limited and Williams Hybrid Power Limited. The Group has established the
Williams Technology Centre in Qatar which is a branch of Williams Grand
Prix Engineering Limited.
The Group employs approximately 550 personnel throughout its business. Its
revenues are currently derived almost exclusively from its Formula One
business, including commercial sponsorships and the team's share of the
Formula One commercial rights income.
The Group's aim is to be a championship-winning Formula One team and a
world-class technology business generating steady returns for shareholders
through the economic cycle.
Williams Grand Prix Engineering Limited
Formed in 1977 by Frank Williams and Patrick Head, Williams Grand Prix
Engineering Limited's core competencies are the design and manufacture of
Formula One race cars and the deployment of this expertise in running the
team's entries in each season's Grands Prix.
One of the world's leading Formula One teams, the company has secured 16
FIA Formula One World Championship titles in the past thirty four years.
Nine of these titles have been won in the Constructors' Championship in
association with Cosworth, Honda and Renault. The remaining seven titles
are Drivers' Championships, won with Alan Jones, Keke Rosberg, Nelson
Piquet, Nigel Mansell, Alain Prost, Damon Hill and Jacques Villeneuve.
The Williams F1 Team is one of the most vertically-integrated of Formula
One teams with first-class design and manufacturing facilities on its 33
hectare site in Oxfordshire, England.
Williams Grand Prix Engineering Limited aims to develop substantial
revenues from exploiting its brand, intellectual property and rapid
development skills in projects outside Formula One.
Williams Hybrid Power Limited
Williams Hybrid Power Limited is a company specialising in
magnetically-loaded composite flywheels which are used as energy storage
devices in small and medium sized applications such as automobiles, buses,
trams and light rail.
Williams Technology Centre Qatar
The Williams Technology Centre in Qatar is developing large magnetically
loaded composite flywheels for use in trains or static applications such as
grid stabilisation, and commercial applications of the Group's motorsport
simulation technology.
End of Corporate News
---------------------------------------------------------------------
09.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
159947 09.03.2012