The Weir Group PLC (LSE:WEIR) Annual Report 2022

The latest annual report of The Weir Group PLC (WEIR) was published on 31 Dec 2022. 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 - WEIR Annual Results

Amounts in GBP

Total Revenue
Gross Profit
Net Tangible Assets
Net Income
Capital Expenditures

WEIR Income Statement 2022 Annual Report

As per the latest Income Statement of WEIR, the Net revenue increased by £538.50M (28%) compared to the previous period. The operating income in 2022 increased by £53.00M (21%). The net income as per the annual report was 213.4M which decreased by £-45.10M (-17%) compared to previous year.

Income Statement Report (2022/2021)

2022 2021
Total Revenue 2.47B 1.93B
Gross Profit 873.9M 692M
Operating Income 305.3M 252.3M
Income Before Tax 260.2M 209.5M
Net Income 213.4M 258.5M

Balance Sheet - WEIR 2022 Annual Report

Read further: WEIR Balance Sheet Detailed Analysis

The latest balance sheet from annual result of The Weir Group PLC showed the company increased the cash on balance sheet by £251.10M (74%). The Net tangible assets of WEIR on the balance sheet were at 325.6M which is £180.50M (124%) more than previous annual report. The total stockholder equity also increased by £283.00M (20%) compared to previous reporting period.

Balance Sheet Statement Report (2022/2021)

2022 2021
Cash 591.6M 340.5M
Total Assets 4.06B 3.5B
Long Term Debt 994.3M 731.2M
Total Liabilities 2.32B 2.04B
Total Shareholder Equity 1.73B 1.44B
Net Tangible Assets 325.6M 145.1M

Cash Flow Statement - WEIR 2022 Annual Report

The 2022 annual cash flow statement of The Weir Group PLC showed that the net income decreased by £-45.10M (-17%) compared to previous reporting period. Also the capital expenditure of WEIR decreased by £-11.70M (-26%).

As of 2022, the total cash from investing activities was -68.3M and total cash from financing activities was -303.8M.

Cash Flow Statement Report (2022/2021)

2022 2021
Net Income 213.4M 258.5M
Capital Expenditures -56.1M -44.4M
Dividends Paid -66.7M -29.8M
Total Cash From From Investing Activities -68.3M 195.2M
Total Cash From From Financing Activities -303.8M -217.3M

The Weir Group PLC Annual Report History

Income Statement

Income Statement history of The Weir Group PLC (LSE:WEIR)

31 Dec 2022 31 Dec 2021 31 Dec 2020 31 Dec 2019
Total Revenue 2.47B 1.93B 1.96B 2.05B
Cost Of Revenue 1.6B 1.24B 1.27B 1.32B
Gross Profit 873.9M 692M 692.9M 726M
Research Development - - - -
Selling General Administrative 579M 459.1M 477.3M 507M
Non Recurring - - - -
Other Operating Expenses -10.4M -19.4M -7.5M -10.4M
Total Operating Expenses 2.17B 1.68B 1.74B 1.82B
Operating Income 305.3M 252.3M 223.1M 229.4M
Total Other Income Expense Net -45.1M -42.8M -45.1M -40M
Ebit 305.3M 252.3M 223.1M 229.4M
Interest Expense -42.1M -41.5M -42.6M -41.5M
Income Before Tax 260.2M 209.5M 178M 189.4M
Income Tax Expense 47.6M 54.4M 44.5M 44.8M
Minority Interest 11.4M 11M 11.3M 1.4M
Net Income From Continuing Ops 212.6M 155.1M 133.5M 144.6M
Discontinued Operations 1.2M 103.9M -288M -524M
Extraordinary Items - - - -
Effect Of Accounting Charges - - - -
Other Items - - - -
Net Income 213.4M 258.5M -154.7M -379.9M
Net Income Applicable To Common Shares 213.4M 258.5M -154.7M -379.9M

Balance Sheet Statement

Balance Sheet Statement history of The Weir Group PLC (LSE:WEIR)

31 Dec 2022 31 Dec 2021 31 Dec 2020 31 Dec 2019
Cash 591.6M 340.5M 287.4M 242.3M
Short Term Investments 99.6M 223.9M 64.3M 31.5M
Net Receivables 530.8M 493.2M 425M 544.7M
Inventory 679.1M 516.5M 443.6M 642.9M
Other Current Assets 8.9M 7.1M 443.6M 16.5M
Total Current Assets 1.95B 1.63B 1.69B 1.53B
Long Term Investments 15.1M 12.3M 15M 36.6M
Property Plant Equipment 462.2M 415.9M 449.5M 571.2M
Good Will 878.1M 797.6M 744.8M 875.9M
Intangible Assets 522.8M 500.8M 487.1M 673.6M
Other Assets 228.3M 143.5M 157.1M 166.2M
Deferred Long Term Asset Charges 92.5M 57M 54.9M 61.2M
Total Assets 4.06B 3.5B 3.54B 3.85B
Accounts Payable 319.3M 243.1M 210.7M 306.7M
Short Long Term Debt 165.3M 435.9M - -
Other Current Liab 165.6M 117.9M 246.4M 160.7M
Long Term Debt 994.3M 731.2M 1.25B 753.5M
Other Liab 150.2M 166.6M 258.6M 229.3M
Deferred Long Term Liab 9M 10M 17.5M 23.5M
Minority Interest 11.4M 11M 11.3M 1.4M
Total Current Liabilities 1.09B 1.06B 644.1M 1.21B
Total Liab 2.32B 2.04B 2.24B 2.34B
Common Stock 32.5M 32.5M 32.5M 32.5M
Retained Earnings 899.5M 705.9M 408.3M 590.6M
Treasury Stock 212.2M 122.8M 272.5M 306.6M
Capital Surplus 582.3M 582.3M 582.3M 582.3M
Other Stockholder Equity 226.5M 128.1M 279.3M 307.1M
Total Stockholder Equity 1.73B 1.44B 1.3B 1.51B
Net Tangible Assets 325.6M 145.1M 63.7M -37.5M

Cash Flow Statement

Cash Flow Statement history of The Weir Group PLC (LSE:WEIR)

31 Dec 2022 31 Dec 2021 31 Dec 2020 31 Dec 2019
Net Income 213.4M 258.5M -154.7M -379.9M
Depreciation 107.1M 93.2M 129.2M 212.8M
Change To Netincome 36M -98.4M 293.6M 469M
Change To Account Receivables 49.8M -61.7M 130M 64.5M
Change To Liabilities 30.2M 31.8M -194.1M -83.1M
Change To Inventory -128.6M -84.9M 44.2M -36.8M
Total Cash From Operating Activities 320.8M 156.1M 266.2M 263.5M
Capital Expenditures -56.1M -44.4M -59.9M -93.3M
Other Cashflows From Investing Activities 7.2M 261.8M 3.7M 250.9M
Total Cashflows From Investing Activities -68.3M 195.2M -63.6M 146.5M
Dividends Paid -66.7M -29.8M -29.8M -121.7M
Net Borrowings -166.6M -137.1M -32M -153.4M
Other Cashflows From Financing Activities -50.5M -35.4M -42.5M -109.5M
Total Cash From Financing Activities -303.8M -217.3M -85.4M -394.6M
Effect Of Exchange Rate 28.8M -8.1M -15.2M -20.5M
Change In Cash -22.5M 125.9M 102M -5.1M
Repurchase Of Stock -20M -15M -10.9M -10M