Northbridge Industrial Services plc – Digital Summary Report 2020

WE MANUFACTURE, HIRE AND SELL MISSION CRITICAL INDUSTRIAL EQUIPMENT AROUND THE WORLD

Our specialist electrical equipment is designed to meet the emerging needs of the new economy – data driven, dependent upon a reliable electrical power infrastructure and where environmental priorities are driving a rapidly increasing share of that power to come from renewables and cleaner energy generation.

Focused investment in our manufacturing facility, our hire fleet and our worldwide sales and support network is enabling us to meet the growing demand for our products and services.

Highlights of 2020

Revenue

34.0

(£m)

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Pre-tax pre-exceptional profit/(loss)

0.4

(£m)

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EBITDA**

7.3

(£m)

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Cash generated from operations**

7.1

(£m)

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Hire fleet cost

53.5

(£m)

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Net debt**

6.8

(£m)

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** 2020 and 2019 information is after IFRS 16. See the Financial Review for a reconciliation to pre-IFRS 16 figures.

Leadership review and statements

We have particularly benefited from growth in two sectors that have either been relatively unaffected by the pandemic or even benefited from it: renewable energy and data centres.

Peter Harris

Executive Chairman

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The Group is focused on delivering an ROI well above its weighted average cost of capital.

Iwan Phillips

Finance Director

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At a glance

Crestchic

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Crestchic designs, manufactures and hires loadbanks to test generators and critical power supplies. From emergency standby systems in data centres, utilities, healthcare and telecommunications, to military support operations, the commissioning of marine propulsion and life support systems and extractive industries.

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Our locations

Operating through five major international hubs, with a worldwide support network of depots and agents, we are able to meet the global demand for our products.

Crestchic global hubs

  • Asia-Pacific: Singapore
  • Europe: Belgium
  • UAE: Dubai
  • UK: Burton on Trent
  • USA: California and Pennsylvania

Crestchic agents/depots

  • China
  • France
  • Germany

People

  • Extremely stable and diverse global workforce
  • Availability of skilled manufacturing staff increasing in UK
  • Ongoing training programmes for managers

Equipment

  • Major in-house fleet life extension programme now established
  • Class-leading control system
  • Largest loadbank fleet globally, across a range of applications

Growth

  • USA still presents an ongoing market share opportunity
  • UK factory expansion to meet growing global demand
  • Data centre sector exhibiting zero signs of slow-down
  • Power reliability driven by renewables and ageing first world infrastructure
  • Cloud computing and data centres driving demand
  • North America – increasing market share

 

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MAJOR end markets

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Digital economy

  • Data centre standby power commissioning
  • Heat load air-con testing
  • Life-cycle maintenance
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Power utilities

  • Grid balancing demand – solar and battery system commissioning
  • Nuclear standby system maintenance
  • Renewable integration testing
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Marine

  • Naval vessel commissioning – surface and submarine
  • Commercial shipbuilding – container and bulk cargo ships
  • Specialist oil and gas offshore vessel testing
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Critical infrastructure

  • Hospital emergency power systems
  • Telecommunications centres – transmission and broadcast power
  • Military – nuclear, conventional, intelligence
At a glance

Tasman

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The Tasman group has been an industry leader in the oil and gas, carbon capture storage, geothermal and coal bed methane/coal seam gas equipment rental sectors since 1980.

It offers a broad range of drilling rental tools, fishing and re-entry tools, tubular handling equipment, pressure control equipment and mud management equipment along with the reassurance of in-house maintenance and specialised services. Tasman are operating in Australia, Malaysia, New Zealand, Saudi Arabia, Singapore and the United Arab Emirates and are continually adapting their services to support the transition to cleaner energy sources.

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our locations

Operating through five major international hubs, with a worldwide support network of depots and agents, we are able to meet the global demand for our products.

Tasman global hubs

  • Australia: Perth
  • Malaysia: Kuala Lumpur
  • New Zealand: New Plymouth
  • UAE: Dubai

Tasman agents/depots

  • Saudi Arabia
  • Singapore

People

Tasman is committed to provide:

  • The highest standards for the health, safety and security
  • Equal opportunities for learning and development to all employees
  • Creating a more inclusive, diverse, engaged and empowered global workforce

Equipment

Tasman is renowned for its reliability, responsiveness, flexibility and superior service delivery.

Tasman takes great pride in the diversity of its downhole drilling products and services and are accredited to the highest industry standards.

Growth

Tasman's growth strategy is based on:

  • Pursuing increased geothermal opportunities and gas expansion for LNG and blue hydrogen processes
  • Expanding its offering into the carbon capture storage industry, driven by the transition to blue hydrogen
  • Increase of market share, particularly on the East Coast of Australia and the Middle East
  • Investment in LNG and natural gas, particularly in our core market of Australia, is set to increase for the immediate forseeable future
  • LNG is a key transitional fuel to replace high carbon content alternatives, and a prime component for blue hydrogen manufacture
  • Substantial investment is now being allocated by Governments to kick-start a move towards a hydrogen-based economy

 

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MAJOR end markets

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Natural gas drilling tools

  • Conventional gas wells
  • Unconventional gas wells, such as coal seam gas/coal bed methane, shale gas, tight gas, etc.
  • Blue hydrogen
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Geothermal drilling tools

  • Power grid expansion and geothermal well maintenance for continued supply of power plants
  • Electricity generation and heat exchange technology
  • Enhanced or engineered, geothermal system ("EGS")
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Carbon capture storage drilling tools

  • Onshore and offshore CO2 injection projects to reduce greenhouse gas emissions
  • Enhanced oil recovery
  • Monetisation of high CO2 gas fields, converting contaminants into valuable products
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Oil drilling tools

  • Conventional oil wells
  • Unconventional oil wells, such as tight oil, shale oil, etc.