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AEA Annual Results 31 March 2007

AEA Annual Results 31 March 2007. Andrew McCree and Alice Cummings. 14 th June, 2007. Linklaters, One Silk Street, London. Group highlights. Financial performance Turnover up 35% Adjusted Operating Profit up 121% Good operating cash performance Net debt has reduced by £7.9m to £21.4m

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AEA Annual Results 31 March 2007

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  1. AEA Annual Results 31 March 2007 Andrew McCree and Alice Cummings 14th June, 2007 Linklaters, One Silk Street, London

  2. Group highlights • Financial performance • Turnover up 35% • Adjusted Operating Profit up 121% • Good operating cash performance • Net debt has reduced by £7.9m to £21.4m • Good market • Energy & climate change • Orders up 26% to £91m • Growth strategy • Organic and acquisition • Successful disposal of non-core businesses to Vision Capital • Management • Significant strengthening of the management team

  3. Financial review Alice Cummings, CFO 14th June 2007

  4. Financial summary

  5. Adjusted Operating Profit • Central costs reduction programme achieved • Annualised run rate of £3.0m • 48 staff have left

  6. PBT

  7. Cash flow

  8. Cash flow from operations

  9. Legacy provisions

  10. Pension benefit liability

  11. Summary • Financial Performance • Adjusted Operating Profit up • Profit to cash conversion 94% • Central cost reduction achieved • Balance Sheet • Good headroom on facilities • Legacy provisions down to £26.0m • Going Forward • Continued cost control • Increasing investment for growth

  12. Business review Andrew McCree, CEO 14th June 2007

  13. Performance highlights Sales • Sales up 35% from £55.8m to £75.2m Orders • Orders up 26% from £72.5m to £91.0m • Secured sales for the new year 57% (2006: 52%) • Pipeline ~ £220m Utilisation • 83% • Half year 78%

  14. AEA – Markets and customers • Markets • Energy • Air quality • Resource efficiency – waste policy • Transport • Knowledge management • Customer base • 76% Government • 5% Devolved Administrations • 13% Private sector • 6% International

  15. Contract life cycle Technical committees Policy Contract Life Cycle Programme management Policy implementation Commoditised programme management

  16. UK highlights Policy support • Defra: Market transformation programme • DfT: Transport environmental impacts • TFL: London low emission zone scientific framework Policy implementation • Carbon Trust: Applied research portfolio management • Defra: Envirowise England • Defra: National air emissions inventory • Defra: Construction waste platform • DfT: SAFED for vans • DTI: Emerging energy technologies programme • DTI: Knowledge transfer partnerships programme • Scottish Executive: Air quality archive • ScottishExecutive: Envirowise Scotland Private sector • Big Lottery Fund: Research grant programme

  17. EC and international highlights Policy support • Sales to the EC rose by 34% from £3.5m to £4.7m • Major energy security project • Ten new environmental policy support contracts Policy implementation • Energy and Environment Programme for Chinese Government • UK-Russia Closed Cities Partnership • Impacts of Climate Change on Chinese agriculture

  18. Growth update

  19. A growing market Global drivers • Climate change • Energy security EU • Enlargement • Romania

  20. Growth - organic & acquisitions Organic – White Paper • Energy efficiency & carbon management • Carbon trading and reduction • Government estate • Resource efficiency • Low carbon transport Organic – other • Scotland & Wales • EU expansion and aid • Acquisitions • Energy, environment, buildings & transport consultancies • Policy, programme management & technical services • Quality of earnings/clients – integration risk • Good funnel – strong prospects in US, UK

  21. Strategic goals Double revenues • Aggressive organic growth • Focused acquisition programme Sustain mid-teen margins • Increase utilisation • Maintain cost control Enhance management • Focus on commercial & marketing skills

  22. Summary • Good market • Focus on organic & acquisition growth • Management team strengthened • Performance is getting stronger

  23. AEA Annual Results 31 March 2007 Andrew McCree and Alice Cummings 14th June, 2007 Linklaters, One Silk Street, London

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