Spirax-Sarco Engineering plc (LSE:SPX) Annual Report 2021



The latest annual report of Spirax-Sarco Engineering plc (SPX) was published on 31 Dec 2021. An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. Typically, an annual report will contain sections such as General corporate information, Operating and Financial highlights, Letter to shareholders from the CEO, Financial statements etc.

Key Statistics - SPX Annual Results

Amounts in GBP

Total Revenue
1.34B
Gross Profit
1.04B
EBIT
317.6M
Net Tangible Assets
352.8M
Net Income
234.6M
Capital Expenditures
-52.8M

SPX Income Statement 2021 Annual Report

As per the latest Income Statement of SPX, the Net revenue increased by £151.10M (13%) compared to the previous period. The operating income in 2021 increased by £75.30M (31%). The net income as per the annual report was 234.6M which increased by £61.00M (35%) compared to previous year.

Income Statement Report (2021/2020)

20212020
Total Revenue1.34B1.19B
Gross Profit1.04B904.7M
Operating Income317.6M242.3M
Income Before Tax314.5M240.1M
Net Income234.6M173.6M

Balance Sheet - SPX 2021 Annual Report

Read further: SPX Balance Sheet Detailed Analysis

The latest balance sheet from annual result of Spirax-Sarco Engineering plc showed the company increased the cash on balance sheet by £28.40M (12%). The Net tangible assets of SPX on the balance sheet were at 352.8M which is £191.00M (118%) more than previous annual report. The total stockholder equity also increased by £157.70M (19%) compared to previous reporting period.

Balance Sheet Statement Report (2021/2020)

20212020
Cash274.6M246.2M
Total Assets1.86B 1.74B
Long Term Debt289.9M452.2M
Total Liabilities853.2M 889.1M
Total Shareholder Equity1.01B851.3M
Net Tangible Assets352.8M161.8M

Cash Flow Statement - SPX 2021 Annual Report

The 2021 annual cash flow statement of Spirax-Sarco Engineering plc showed that the net income increased by £61.00M (35%) compared to previous reporting period. Also the capital expenditure of SPX decreased by £-10.80M (-26%).

As of 2021, the total cash from investing activities was -58.7M and total cash from financing activities was -213.3M.

Cash Flow Statement Report (2021/2020)

20212020
Net Income234.6M173.6M
Capital Expenditures-52.8M-42M
Dividends Paid-90.7M-82.2M
Total Cash From From Investing Activities-58.7M-51.1M
Total Cash From From Financing Activities-213.3M-152.5M

Spirax-Sarco Engineering plc Annual Report History

Income Statement

Income Statement history of Spirax-Sarco Engineering plc (LSE:SPX)

31 Dec 202131 Dec 202031 Dec 201931 Dec 2018
Total Revenue1.34B1.19B1.24B1.15B
Cost Of Revenue304.7M288.7M303.7M283.7M
Gross Profit1.04B904.7M938.7M869.6M
Research Development----
Selling General Administrative479.8M432.3M434.7M400.2M
Non Recurring----
Other Operating Expenses173.4M154.7M177.9M114.4M
Total Operating Expenses1.03B951.1M988.7M856.4M
Operating Income317.6M242.3M253.7M296.9M
Total Other Income Expense Net-3.1M-2.2M-16.9M-8.1M
Ebit317.6M242.3M253.7M296.9M
Interest Expense-8.5M-8.6M-7.7M-9.4M
Income Before Tax314.5M240.1M236.8M288.8M
Income Tax Expense79.6M66.2M69.8M65.4M
Minority Interest1M1M1M1.1M
Net Income From Continuing Ops234.9M173.9M167M223.4M
Discontinued Operations----
Extraordinary Items----
Effect Of Accounting Charges----
Other Items----
Net Income234.6M173.6M166.6M223.1M
Net Income Applicable To Common Shares234.6M173.6M166.6M223.1M

Balance Sheet Statement

Balance Sheet Statement history of Spirax-Sarco Engineering plc (LSE:SPX)

31 Dec 202131 Dec 202031 Dec 201931 Dec 2018
Cash274.6M246.2M330.6M187.1M
Net Receivables308.9M253.6M271.8M269.5M
Inventory201.3M180.1M185.9M160.6M
Total Current Assets803.7M692.5M800.9M630.3M
Property Plant Equipment340.3M297.6M292M230.8M
Good Will411.2M422.4M417.7M368M
Intangible Assets245M267.1M296M270.8M
Other Assets63M61.8M49.6M53.9M
Deferred Long Term Asset Charges46.1M50.9M40.8M41.3M
Total Assets1.86B1.74B1.86B1.55B
Accounts Payable217M45.6M57.9M57.4M
Short Long Term Debt59.6M600k34.3M41.3M
Other Current Liab38.3M79.1M76.7M75.2M
Long Term Debt289.9M452.2M429.2M365.2M
Other Liab132.7M185.1M160.4M168.3M
Deferred Long Term Liab10.7M9.5M7.9M6.4M
Minority Interest1M1M1M1.1M
Total Current Liabilities381.7M228M412.7M253.3M
Total Liab853.2M889.1M1.03B786.9M
Common Stock19.8M19.8M19.8M19.8M
Retained Earnings961.1M782.8M735.1M646M
Treasury Stock-58.2M-36.1M-10.6M22.2M
Capital Surplus86.3M84.8M81M77.8M
Other Stockholder Equity-58.2M-36.1M-10.6M22.2M
Total Stockholder Equity1.01B851.3M825.3M765.8M
Net Tangible Assets352.8M161.8M111.6M127M

Cash Flow Statement

Cash Flow Statement history of Spirax-Sarco Engineering plc (LSE:SPX)

31 Dec 202131 Dec 202031 Dec 201931 Dec 2018
Net Income234.6M173.6M166.6M223.1M
Depreciation61.1M67.6M59.5M46.5M
Change To Netincome9.3M-3.3M9.9M-46M
Change To Account Receivables-71.3M15.1M2.4M-16M
Change To Liabilities59.5M-8.7M2.3M8.1M
Change To Inventory-26.7M3.8M-23.8M-15.5M
Change To Operating Activities-1M3.3M-2.4M800k
Total Cash From Operating Activities273.4M259.2M227.4M212.6M
Capital Expenditures-52.8M-42M-50.9M-33.5M
Other Cashflows From Investing Activities3.4M1.4M1.5M1.1M
Total Cashflows From Investing Activities-58.7M-51.1M-175.4M18.4M
Dividends Paid-90.7M-82.2M-75.9M-67M
Net Borrowings-89.2M-48.9M38.4M-111.5M
Other Cashflows From Financing Activities-8.8M-8.9M-7.4M-8M
Total Cash From Financing Activities-213.3M-152.5M-57.5M-191.4M
Effect Of Exchange Rate-6.4M100k-12.9M-4.5M
Change In Cash-5M55.7M-18.4M35.1M
Repurchase Of Stock-26.1M-14.5M-14.7M-6.7M
Issuance Of Stock1.5M2M2.1M1.8M