The Roxboro Group PLC Interim Results 6 Months to 30th June 2005 12 September 2005 the roxboro group plc headlines y Solartron sold through two transactions y Aggregate consideration of over £70m (with adjustments) y Plan to return £46.6m to shareholders (over £110m returned since 2000) y Name of company to be changed to Dialight plc y Focussed strategy on applied LED technology y First half result very satisfactory (given the distractions) y Dialight order book up 28% from start of year y Board to be restructured interim results 2005 Financial Review interim results 2005 the roxboro group plc UK GAAP profit and loss account 6 months ended 30 June 2005 30 June 2005 £m sales profit 30 June 2004 sales profit Dialight 25.8 2.4 28.2 2.3 Solartron 32.7 2.9 31.0 3.3 58.5 5.3 59.2 5.6 Central (1.1) (1.2) 4.2 4.4 ● Dialight 9% 8% ● Solartron 9% 11% Profit before goodwill and taxation Operating Margins: interim results 2005 the roxboro group plc U K G A A P p r o f i t a n d l o s s a c c o u n t (c o n t d.) 6 months ended 30 June 2005 £m 30 June 2005 Profit before goodwill and taxation Goodwill Taxation Underlying taxation rate UK GAAP EPS ● Basic ● Adjusted Dividends Dividend Cover (excluding goodwill) 30 June 2004 4.2 (0.5) 3.7 (1.6) 2.1 4.4 (0.5) 3.9 (1.6) 2.3 37.7% 36.1% 6.6p 8.5p 3.4p 2.5x 7.4p 9.3p 3.4p 2.7x interim results 2005 the roxboro group plc summarised cashflows £m 2005 2004 4.2 4.4 1.2 1.4 – Working capital (2.3) 1.8 – Provisions (0.1) 0.4 3.0 8.0 – Capital Expenditure (1.4) (0.7) – Taxation (1.3) (1.4) y Free Cash Flow 0.3 5.9 y Operating Profit – Depreciation y Operating Cash Flow interim results 2005 the roxboro group plc movement in cash £m 2005 2004 y Free Cash Flow – Dividends – B Share redemptions – Ordinary share issues 0.3 (2.3) (0.1) - 5.9 (2.1) (0.1) 0.1 y Net Cash (Outflow)/Inflow – Opening Net Cash – Translation (2.1) 6.8 0.5 3.8 2.0 - 5.2 5.8 y Closing Net Cash interim results 2005 the roxboro group plc p r o f o r m a p r o f i t o n d i s p o s a l s (U K G A A P) £m Gross Proceeds Net Pro forma Proceeds Net Assets Pro forma Profit Historic P/E EBITDA Sales Mobrey 26.0 20.5 18.1 2.4 - - - Solartron 42.1 33.1 9.8 23.3 - - - 68.1 53.6 27.9 25.7 15.5x 8.6x 1.1x Notes: 1. Additional sums to be received under cash, working capital and for adjustments for tax. 2. Pro forma net assets include goodwill interim results 2005 the roxboro group plc Utilisation of disposal proceeds £m Gross proceeds* 68.1 Expenses (5.5) Tax (9.0) (14.5) 53.6 Pension funding (7.0) 46.6 ‘C’ Share 86p (26.7)** Special dividend 64p (19.9)** (46.6) - * Excludes adjustments ** Fully diluted basis interim results 2005 the roxboro group plc y IFRS implemented as at 01 January 2005 – One year’s comparative date y Overall impact limited to a few key areas: – Pensions – Development costs – Discontinued operations – Goodwill – Employee share options (future periods) interim results 2005 the roxboro group plc y Balance sheet as at 30 June 2005 – reduction in net assets of £4.6m y 2004 IFRS operating profit before goodwill – increased by £2.7m interim results 2005 the roxboro group plc profit for 6 months ended 30 June 2005 £m Operating profit – continuing operations UK GAAP IFRS adjustments - pensions - development costs Central Rounding IFRS reported 2.4 0.2 0.1 (1.1) (0.1) 1.5 Net finance cost – continuing operations UK GAAP IFRS adjustments - pensions (0.2) IFRS reported (0.2) interim results 2005 The Roxboro Group PLC Interim Results 6 Months to 30th June 2005 12 September 2005 interim results 2005