TT electronics Plc Business Report FY ended Dec. 2013

Business Highlights

Financial Overview

 (in million pounds)
  FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 Rate of Change (%) Factors
Revenue 532.2 476.9 11.6 1)
Operating Profit 19.0 25.4 (25.2) -
Revenue by Division
Sensing and Control 285.2 259.6 9.9
Components 100.4 109.6 (8.4) 2)
IMS 146.6 107.7 36.1 3)

1) Overall
-In 2013, group revenue from continuing operations increased by 11.6%. On an underlying basis, revenue increased by 4.9%, excluding the effects of foreign exchange and the acquisition of ACW Technologies in December 2012.

2) Sensing and Control
-The division's revenue for the year increased primarily as a result of increased demand, and new business wins.

2) Components
-The division's reveue for the year decreased due to the slow start to the year across the division and the poor performance of the Connectors business.

3) IMS
-The division's revenue for the year increased because of particular success within the aerospace and defence markets.
-In 2014, production is planned to ramp up in Romania, establishing it a key center for the division.


-In 2013, the Company established the new Sensing and Control division to bring together its current strengths in sensor, control products and solutions.

-It commenced the relocation of production from Fullerton, USA to Mexicali, Mexico.

-It expanded its Romanian facility, with 22 product lines already transferred from Germany and Austria at 31 December, 2013.

-The Company expanded its Bangalore engineering center.


R&D Facilities

-The Company expanded the recently opened Group engineering centre in Bangalore, increasing its engineering capacity with 84 engineers in place by the end of 2013.

Investment Activities

Capital Expenditure

 (in million pounds)
  FY ended Dec. 31, 2013 FY ended Dec. 31, 2012
Sensing and Control 21.7 18.4
Components 4.5 4.8
Sensors 3.5 1.2
Discontinued operations - 0.4
Total 29.7 24.8