Blueprint Industrial Blueprint Industrial Engineering PLC: Final Results

 
TIDMBIE 
 
Blueprint Industrial Engineering PLC: Final Results 
Press Release                                                                        30 September 2015 
 
                                         BLUEPRINT INDUSTRIAL ENGINEERING PLC 
 
                                            ("Blueprint" or the "Company") 
 
                                                     Final Results 
 
 
Blueprint  Industrial  Engineering Plc (CSE: BIE), the investment company, looking to  build  a  portfolio  of  Nordic 
engineering companies today announces its Final Results for the period ended 30 April 2015. 
 
Highlights 
 
-   Acquisition of Forsbacka Rör & Projekt Teknik AB and Industrimontage i Jäderfors AB 
 
-   Revenue  from acquisitions generated for the 3 month period since acquisition of GBP1,191,145  and  pre- 
    tax profits of GBP22,532 
 
-   Listing on GXG Markets and subsequent move up to Cyprus Stock Exchange. 
 
-   Post period-end acquisition of a further subsidiary, Avrika Montage AB. 
 
 
The directors of the company take responsibility for this announcement. 
 
For further information, please contact: 
Blueprint Industrial Engineering Plc 
James Dishman                                                        Tel: +44 (0)  20 7629 2444 
[e-mail]                                        http://www.blueprintie.com/Contact/ 
 
Alfred Henry Corporate Finance Ltd 
Jon Isaacs / Nick Michaels                                            Tel: [phone] 
                                                                            www.alfredhenry.com 
 
Notes to Editors 
 
Blueprint was created in London in February 2014 for the purpose of acquiring companies in the Nordic Region. Our goal 
is to build a strong Nordic group of engineering businesses operating from the Nordic Countries servicing 
international blue chip companies. 
 
Blueprint completed two acquisitions in Sweden in 2014 and will continue to build the group of wholly owned companies. 
 
We believe that the Nordic region is well regarded in terms of international corporate governance and transparency. 
 
The Nordic region has a tradition of high quality engineering and manufacturing companies with a global market 
presence. 
 
For more information on the Company please visit: http://www.blueprintie.com 
 
 
 
STRATEGIC REPORT FOR THE PERIOD FROM 1 OCTOBER 2014 TO 30 APRIL 2015 
 
The Directors presents their strategic report with the audited financial statements of the Group for the period from 1 
October 2014 to 30 April 2015. 
 
The  principal activity of the Group ("Blueprint") is the provision of engineering services to the steel, wood,  paper 
and energy sectors in Sweden, Finland, Norway and Denmark ("Nordic region"). 
 
Fair review of the business 
 
Blueprint  is  currently  focused on building an engineering group by acquiring financially  strong,  well  run,  high 
quality  engineering businesses in the Nordic region. An opportunity exists to consolidate part of the market  in  the 
Nordic  region  of  highly specialised engineering companies with proven, long-term contracts supplying  multinational 
corporations with specialist products and services. 
 
Blueprint  seeks 100% ownership of its acquisitions, and in some cases may merge companies. Significant  opportunities 
exist  for reduced overheads, improved competitiveness, centralised marketing and winning larger contracts that  small 
companies would not otherwise be able to handle. 
 
During  the  period under review the Group acquired Forsbacka Rör & Projekt Teknik AB and Industrimontage i  Jäderfors 
AB,  companies providing engineering services in Sweden for GBP1,587,402 (SEK 19,804,698) from its former parent company 
Blueprint Equity Partners Limited on 1 February 2015. The parent company acquired the subsidiaries on 5 May  2014  and 
subsequently  transferred  them  to the Company following a group reorganisation.  The  parent  company  acquired  the 
subsidiaries using a credit facility from TCA Global Credit Master Fund LP. ("TCA") of USD 2 million and  pledged  the 
shares in the subsidiaries as collateral for the loan. 
 
Revenue generated for the 3 month period since acquisition was GBP1,191,145 and pre-tax profits were GBP22,532. Full  year 
revenues  for  the  12  months  ended  30 April 2015 were approximately GBP4.3 million  generating  pre-tax  profits  of 
approximately GBP209,000. 
 
On 23 March 2015 Blueprint listed debt securities on the Main Quote of GXG Markets. The Company subsequently listed on 
the  Cyprus  Stock Exchange on 28 September 2015 following the closure of GXG Markets on 18 August 2015 leading  to  a 
delay in the fund raising. The Company is offering up to 3.7 million 7.5% 5 year Bonds comprising debentures of GBP1 per 
unit nominal value. 
 
Following  the delay in the fund raising the pledge referred to above was called in and the shares in the subsidiaries 
are currently held by TCA. Once the loan is repaid the directors are confident that the shares will be returned. 
 
Development and performance of the business 
 
On  1 May 2015 Blueprint acquired a further subsidiary, Avrika Montage AB ("AMAB") for approximately GBP1.7 million (SEK 
22  million). AMAB had revenue of GBP4.7 million and operating profits of GBP369,000 for the year ended 31 December  2014. 
 
 
The Group recognises the risks it faces in connection with its business operations and monitors as part of its monthly 
accounting  and  management  reporting processes various key performance indicators. Most of  which  are  commercially 
sensitive  in  nature  and therefore not detailed here. The key performance indicators include, total  number  of  the 
contracts, total revenue, debit and credit exposures and profit before tax. 
 
 
 
CONSOLIDATED INCOME STATEMENT 
FOR THE PERIOD FROM 1 OCTOBER 2014 TO 30 APRIL 2015 
 
 
                                                                                                2015 
                                                                                                  GBP 
 
Revenue                                                                                       1,191,145 
Personnel costs                                                                               (717,210) 
Other operating costs                                                                         (453,712) 
Operating profit                                                                                20,223 
 
Finance income                                                                                  5,055 
Finance costs                                                                                  (2,746) 
Net financing expense                                                                           2,309 
 
Profit before tax                                                                               22,532 
 
Income tax expense                                                                              (8,173) 
 
Profit for the year attributable to the owners of the Parent Company                            14,359 
 
 
Earnings per share 
                                                                                                  2015 
                                                                                                    GBP 
 
Basic and diluted earnings per share                                                              0.287 
 
 
 
CONSOLIDATED STATEMENT OF FINANCIAL POSITION 
AS AT 30 APRIL 2015 
 
                                                                                                  30 April 
                                                                                                    2015 
                                                                                                      GBP 
Assets 
   Intangible assets                                                                               730,584 
   Property, plant and equipment                                                                   592,010 
Total non-current assets                                                                         1,322,594 
 
   Inventory                                                                                        42,727 
   Trade and other receivables                                                                     615,277 
   Current tax receivables                                                                          10,354 
   Cash and cash equivalents                                                                         2,525 
Total current assets                                                                               670,883 
Total assets                                                                                     1,993,477 
 
Equity 
   Issued capital                                                                                   50,000 
   Translation reserve                                                                              38,195 
   Retained earnings                                                                                14,359 
Total equity                                                                                       102,554 
 
Liabilities 
   Interest bearing loans and borrowings                                                           100,178 
   Deferred tax                                                                                    114,769 
Total non-current liabilities                                                                      214,947 
 
   Interest-bearing loans and borrowings                                                           242,982 
   Current tax liabilities                                                                          35,924 
   Trade and other payables                                                                      1,397,070 
Total current liabilities                                                                        1,675,976 

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September 30, 2015 07:08 ET (11:08 GMT)