The Roxboro Group PLC Interim Results 6 Months to 30th June 2004 interim results 2004 the r oxbor o gr oup plc H1 2004 key points (continuing operations) y Sales up 7% in constant currency y Operating profits up 122% y Solartron up 21% y Dialight up x6.5 y Adjusted EPS up 69% y Dividend up 10% interim results 2004 the r oxbor o gr oup plc g r oup pr ofit and loss acc ount 2004 £m 2003 y Turnover 59.2 73.3 59.2 - 58.7 14.6 Continuing Operations Discontinued operations y Operating Profit Continuing operations Discontinued operations y Interest 4.4 4.8 4.4 - 2.0 2.8 - y Profit before goodwill & exceptionals 4.4 – Goodwill (0.5) – Profit on disposal of Weston y Profit before tax 3.9 (0.3) 4.5 (0.6) 15.6 19.5 interim results 2004 the r oxbor o gr oup plc c ontinuing op er ations first half comparison 2004 first half sales profit 2003 first half sales profit Dialight 28.2 2.3 27.6 0.3 Solartron 31.0 3.3 31.1 2.8 59.2 5.6 58.7 3.1 Central Interest % movement sales profit 2% - (1.1) 4.4 2.0 4.4 21% 1% (1.2) - 550% 82% 122% (0.3) 1.7 161% interim results 2004 the r oxbor o gr oup plc dividends and earnings per share 2004 2003 y Dividends per share 3.4p 3.1p y EPS Basic Adjusted 7.4p 9.3p 31.6p 5.5p y Dividend Cover half year Adjusted for profit on disposal 2.1x Adjusted for profit on disposal and goodwill 2.7x 2.7x 3.4x interim results 2004 the r oxbor o gr oup plc movement in debt £m 2004 2003 y Free Cash Flow – Dividends – Acquisitions – Disposals – Issue of shares 5.9 (2.1) (0.1) - 4.6 (3.9) (0.1) 53.6 0.1 y Net Cash Inflow – Opening Net Debt – Translation 3.7 2.0 - 54.3 (11.7) (0.6) y Closing Net Cash / (Debt) 5.7 42.0 - (39.8) Return of Capital July 2003 y ‘Proforma’ Net Cash / (Debt) 5.7 (2.2) interim results 2004 Solartron Group y Good result - not helped by currency y Margins slightly better y Some projects slipped into H2 y Sadra and China Petroleum secured y New product introductions continue A Roxboro Group Company Dialight Group y Good progress in first half y Margins improving y Mexican move now producing benefits y Strong cash generation y Good opportunities in Lighting sector A Roxboro Group Company Strategy Signalling Indication Illumination A Roxboro Group Company Dialight in Illumination y The LED is a disputive technology in lighting y More efficient than conventional light sources y Longer life than conventional light sources y Colour change is simple to achieve y White light can have different “temperatures” y Digital electronics control full spectrum range of colours y Better colour characteristics y Greater flexibility in lighting design A Roxboro Group Company Where Dialight will participate A Roxboro Group Company SpectraMixTM y Dynamic digital colour control y Repeatable replication of full spectrum of 16.7million colours y Compensates automatically for temperature change y Allows for full distribution of LED colour and intensity y Colour fringing eliminated y Wireless, ethernet or internet control y Software runs on Apple, Windows, Palm, etc. A Roxboro Group Company the r oxbor o gr oup plc summary y Good recovery in first half y Strong cash generation y Benefits of Mexico move showing through y Visibility in oil and gas sector much improved y OE volumes running ahead of last year y Opportunities in illumination market y Positioned for continued progress in second half interim results 2004