Severstor order secured for UK Commercial Reactor Decommissioning Project

Severfield (Products & Processing) product, Severstor, has secured another order – this time for James Fisher Nuclear Ltd.

For this order, we will be supplying James Fisher Nuclear Ltd. with five modular buildings that link together to form a Central Control Room for the Magnox Core Segmentation Project on the Winfrith nuclear site in Dorset.

Severstor order

James Fisher Nuclear Ltd. will then be housing their equipment within this room, which will allow personnel to remotely operate and control specialist robots and tooling that will be used to segment the Winfrith reactor core and sentence it as waste for storage off-Site. The SGHWR reactor is planned to be the first commercial reactor to be fully decommissioned in the UK.

About Severstor

Severstor units are robust, steel framed modules that house crucial systems technology and can be supplied to a wide range of main contractors and end users.

If you are interested in our Severstor product, please contact us at severstor@severfield.com

 

Severfield to supply Rotoflo units to the UK water treatment sector

Severfield is pleased to announce that following the purchase of the patented Rotoflo product from Shepherd Group and Portasilo, we have secured our first order to supply two 1500LP Rotoflo units for use on hydrated lime in the UK water treatment sector.

Rotoflo Order

Rotoflo is a unique silo discharge unit that is able to move a controlled volume of material from a bulk storage silo to a related materials handling system. Particularly effective in the handling of powders and granular materials, Rotoflo is established globally as the preferred method of discharge for the food, water treatment, paint manufacturing, and building materials industries.

If you are interested in our Rotoflo product, please contact us at rotoflo@severfield.com

Severfield annual results announced – 31 March 2020

Severfield plc, the market leading structural steel group, announces its results for the 12 month period ended 31 March 2020.

Strategic 2020 profit target achieved, good cash generation and strong balance sheet, UK and Europe order book of £271m

Highlights

  • Revenue up 19% to £327.4m (2019: £274.9m)
  • Underlying* profit before tax up 16% to £28.6m (2019: £24.7m), ahead of strategic 2020 profit target of £26m
  • Underlying* basic earnings per share up 15% at 7.7p (2019: 6.7p)
  • Acquisition of Harry Peers for net initial cash consideration of £18.9m, contingent consideration of up to £7m payable in 2021 financial year
  • Good cash generation resulting in year-end net funds (excluding IFRS 16 lease liabilities**) of £16.4m (2019: £25.1m), including the outstanding acquisition loan of £13.1m for Harry Peers
  • Over 100 projects undertaken during the year in the UK, Ireland and continental Europe in diverse market sectors including industrial and distribution, data centres, commercial offices (both in London and the UK regions) and transport infrastructure
  • UK and Europe order book of £271m at 1 June 2020 (1 November 2019: £323m), including £17m for Harry Peers – the expected reduction reflects revenue recognised in H2 on several large ongoing contracts
  • Share of profit from Indian joint venture (‘JSSL’) up 80% at £2.2m (2019: £1.2m), reflecting both revenue growth and margin improvement
  • India order book of £110m at 1 June 2020 (1 November 2019: £134m), expansion of the Bellary facility is now complete

COVID-19

  • Factories are operational and all of our UK and European construction sites remain open
  • Tendering and pipeline activity remains encouraging but some investment decisions being delayed by clients
  • Strong balance sheet and cash position, sufficient committed funding in place until 2023 and cash generative business model
  • Additional resilience provided by our market sector, geographical and client diversity
  • Future market outlook remains uncertain – dividend payment decisions deferred until greater visibility over the impact of COVID-19

 

Severfield annual results

Alan Dunsmore, Chief Executive Officer commented:

‘The strong set of results that we are reporting today reflects the further operational and strategic progress that we have made in 2020. Our balance sheet and cash position remain strong, we have continued to drive our ‘Smarter, Safer, more Sustainable’ initiatives with an increased focus on manufacturing efficiency, and we have entered new UK markets through the acquisition of Harry Peers.

Despite the ongoing uncertainty of COVID-19, we remain well placed to win work in the diverse range of market sectors and geographies in which we operate. This allows us to target a good pipeline of opportunities and provides us with the extra resilience and ability to increase our market share. With our teams on site and operational, we are in a good position to service our clients and manage the potentially challenging market ahead.’

See the full press release on our RNS feed for Severfield annual results announced – 31 March 2020

Severfield purchases patented product, Rotoflo

Severfield is pleased to announce the purchase of the patented Rotoflo product from Shepherd Group.

Rotoflo is a unique silo discharge unit that is able to move a controlled volume of material from a bulk storage silo to a related materials handling system. Particularly effective in the handling of powders and granular materials, Rotoflo is established globally as the preferred method of discharge for the food, water treatment, paint manufacturing, and building materials industries.

Rotoflo

With Rotoflo’s performance and reliability already proven, Severfield (Products & Processing) expects to build on its years of success to date.

First major milestone is achieved for Severfield product, Severstor

In 2019, we introduced Severfield product Severstor, a new product line for our Severfield (Products & Processing) business. We are now pleased to announce our success in securing our first order for this product.

Severstor units are robust steel-framed modules that house critical systems technology and can be supplied to a wide range of main contractors and end users.

Severfield product

For our first Severstor order, we will be supplying four modular substations to house switchgear for our client with delivery due before the end of this year. This order represents the first major milestone for Severfield (Products & Processing) following the recent introduction of the new product line.

Severfield & Skanska – Outernet, London

We’re extremely proud to share this video to showcase the collaboration between Skanksa and Severfield, working on the delivery of Outernet in London, the first ever city-centre, high capacity immersive media space.

More about Outernet

Outernet is a global network of immersive entertainment districts showcasing music, film arts and retail experiences using the largest LED screens in the world, opening in late 2020.

Severfield has provided 2,400 tonnes of structural steelwork for the project, which will provide a destination for live performance events on Denmark Street – previously home to music magazines The NME and Melody Maker, as well as studios where The Kinks, The Rolling Stones and Elton John recorded their tracks.

Outernet

Find out more about Outernet here: https://www.outernetglobal.com/

 

 

Skanska Outernet

Find out more about Skanska here: https://www.skanska.co.uk/

Interim results for the period ended 30 September 2019

Severfield plc, the market-leading structural steel group, announces its results for the six-month period ended 30 September 2019

H1 / full year profit split and full year guidance in line with expectations, UK and Europe order book of £323m, post period-end acquisition of Harry Peers

 

Highlights

Revenue of £131.7m (H1 2018: £149.1m)

Underlying* profit before tax of £8.2m (H1 2018: £13.1m) in line with expectations, current trading remains good with a number of large ongoing contracts expected to deliver stronger profits in H2

Interim dividend increased by 10% to 1.1p per share (H1 2018: 1.0p per share)

Good cash generation, resulting in period-end net funds of £22.5m (excluding IFRS 16 lease liabilities of £11.9m**) (31 March 2019: net funds of £25.1m)

Over 80 projects undertaken during the period in the UK, Ireland and continental Europe in diverse market sectors including commercial offices (both in London and the UK regions), industrial and distribution, data centres and transport infrastructure

UK and Europe order book of £323m at 1 November 2019 (1 June 2019: £295m), including £20m for Harry Peers

Share of profit from Indian joint venture (‘JSSL’) more than trebled at £1.3m (H1 2018: £0.4m), reflecting expanding Indian market position

India order book of £134m at 1 November 2019 (1 June 2019: £134m), expansion of the Bellary facility on course for completion by the end of the current financial year

Post period-end acquisition of Harry Peers, a leading structural steelwork business, for net initial consideration of £18m, with contingent consideration of up to £7m potentially payable in the 2021 financial year

* Underlying results are stated before non-underlying items. There were no non-underlying items in the periods ended 30 September 2018 and 2019 and, accordingly, there is no difference between the underlying profit measures and their statutory equivalents.

** The Group excludes IFRS 16 lease liabilities from its measure of net funds / debt as they are excluded from the definition of net debt as set out in the Group’s borrowing facilities.

resultsAlan Dunsmore, Chief Executive Officer commented:

‘We have made strategic and operational progress in the first half of the year. We were pleased to complete the acquisition of Harry Peers, which brings in new clients, sectors and opportunities as well as continuing organic growth across all our geographies. We are pleased to confirm that full year guidance is in line with expectations and with our strong order book, cash generative business and clear growth plans, we remain confident in our future ability to deliver returns for our shareholders.’

Severfield’s Safety First Awards 2019

Taking place at The Grand Hotel and Spa in York, Severfield welcomed over 80 colleagues and sub-contractors to the exclusive ‘Safety First Awards’, which celebrated the highest standards of health, safety and environmental management across the business.

Safety First AwardsSafety First Awards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Over the course of the evening, seven awards were handed out – starting with three team awards. These recognised a factory, construction and subcontractor team that demonstrated an outstanding commitment to achieving ‘Safety First’; these were followed by Innovation, Outstanding Achievement and One to Watch awards, concluding with a special Chairman’s Award.

One to Watch Award – left to right: Phillipa Recchia (Group SHE Director), Award Winner: James O’Connor (Apprentice), Alan Dunsmore (Chief Executive Officer), Ian Cochrane (Chief Operating Officer)

Outstanding Achievement Award: Fred Robson (Fabse Team Leader)

Special Chairman’s Award: TwentyTwo Bishopsgate London project team

Sub-contractor Team Award: CM Structural (sub-contractor)

Construction Team Award: Gareth Liggett (Design Engineer)

Innovation Award: Simon Welbourn (Construction Controller)

 

 

 

 

Factory Team Award: Bay 4 Lostock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Phillipa Recchia, Group SHE Director for Severfield, said:

“From a safety point of view, there are so many great things happening within the business and we see our people living up to our safety values every day, and it’s for that reason that we felt the need to recognise the efforts and achievements of our staff. It’s about saying a personal thank you from the company, because at the end of the day, it really is our people that make all of the difference.”

 

Ian Cochrane, Severfield Chief Operating Officer, added:

“This is only the start of the story. What’s important is how our winners inspire their colleagues around them, and across the company, and go on to become ambassadors for our health and safety culture. Safety is our number one priority at Severfield, with everyone having a role to play. That’s why events such as this are so important to recognise the achievements of teams and individuals who go above and beyond to ensure everyone goes home safely, every day.”

The event, the first of its kind for Severfield, was a huge success, and will now go on to become an annual event.

Safety First Awards

Severfield announce new business venture – Severstor

Severfield is pleased to announce the commencement of a new business venture for the Group, which will form part of our Severfield (Products & Processing) business; this new product will be known as Severstor.

The new venture will produce robust steel-framed modules that house critical systems technology for a range of main contractors and end-users and will provide further diversification to the Group and another access point to key infrastructure clients and projects.

The demand for these systems is increasing as they provide the disaster recovery solution for data storage, uninterruptable power supplies for technology systems and control systems in exposed environments, and is therefore a key product for the Group to be offering.

This week, we have welcomed the new Severstor team, who will be based at our head office location in Dalton, Thirsk. For all enquiries, please email severstor@severfield.com.

Top 100 Most Influential Woman in Engineering

Severfield Group SHE Director, Phillipa Recchia, has today been listed as one of the Top 100 Most Influential Woman in Engineering Sector.

Top 100 Most Influential Woman in EngineeringThe list, which is produced by board appointments firm Inclusive Boards* in partnership with the Financial Times, will be officially announced at the Inclusive Boards: Women in Engineering Leadership Conference on 22 October.

 

 

 

Inclusive Boards will also be publishing extensive research into engineering in the UK as well as the results of their diversity survey of the UK’s top 500 engineering firms by revenue.

Development Director Elizabeth Oni-Iyiola said:
Engineers have an impact on almost every area of our day to day lives. Phillipa and those featured today are role models who inspire those around them and demonstrate leadership and influence in the work that they do.”

Patrick Clarke, Director of Network Operations at UK Power Networks and judge for the list said:
I am personally inspired but not at all surprised by the tremendous talent on the Women in Engineering list. Sadly, there are still plenty of people who will be surprised due to a mind-set which say Engineering equals males not females. I took part as a judge because I wanted to be inspired.”

Severfield Group SHE Director, Phillipa Recchia said:
“Being part of the Top 100 Most Influential Woman in the Engineering Sector will further my determination to have a sustainable positive effect on the industry.
My passion is safety and people, to which I will endeavour to continue to inspire and influence business to create a safer working environment for everyone through leadership, engagement and mentoring.”

 

*Inclusive Boards are the UK’s leading board appointments firm, specialising in attracting high level diverse talent through a network of over 60,000 professionals. They operate across sectors including sport, to charities and social investment. Inclusive Boards’ cutting-edge research has featured in the Independent, Guardian, Daily Mail and more.

Inclusive Boards have also conducted a detailed diversity survey, analysing the gender, ethnicity, age profiles, and educational and socioeconomic backgrounds of Boards, directors and executives of the UK’s 500 largest engineering firms by revenue.

The list has been published today and will officially launch at the Inclusive Boards: Women in Engineering Leadership Conference in Central London on October 22, hosted by expert in gender and diversity issues in STEM, Dr Jan Peters. Inclusive Boards are the UK’s Executive Diversity Experts with a network of over 60,000 diverse professionals across the STEM, sport, not-for-profit and public sectors.

www.inclusiveboards.co.uk