Key Performance Indicators

The Group has selected a number of key financial and non-financial performance indicators, which are used to monitor the key drivers of our business and to align our strategy to performance.

Strategy key High-performing Businesses

Engagement and Development Customer at the Centre Sustainability Excellence Through Innovation

Financial KPIs

KPI Relevance Performance in 2022 Strategic link growth

Aligns with our growth strategy. Sales growth exceeded plan and was supported by product introductions, acquisition and a strong US dollar.

Operational/non-financial KPIs

KPI Relevance Performance in 2022 Strategic link Occupancy rate for

The Group has a significant investment property portfolio and occupancy is a useful indicator for income and customer satisfaction.

Market conditions continued to improve post the pandemic, increasing occupancy in the year.

Sustainability KPIs

KPI Relevance Performance in 2022 Strategic link

We are committed to reducing our impact on the environment, as highlighted in the ESG section on page 54.

Lucy Electric purchases sulphur hexafluoride (SF6), a GHG, for use in some of its products. As this is not consumed by the Company, only loss during normal manufacturing process is included in this figure.

The Group achieved certification to Carbon Reduce in 2022 and verification that our emissions are measured in accordance with ISO 14064. Throughout the year the businesses have implemented measures to reduce emissions and energy consumption. This has resulted in a 2.8% reduction on our revised 2021 baseline.

Profits generated by the business are a key indicator of our performance and key to our long-term financial health.

Sales volumes increased and product mix improved. However, inflation, higher commodity prices and a property devaluation compared with a revaluation last year has reduced PBT in the year.

The health and safety of our employees is of paramount importance and we have a proactive approach to monitoring and improving this across the Group.

Although there was a slight increase in the TRIR this year, the Group continues to advance safety in the workplace through improved operational procedures and training and by placing our employees’ safety as our top priority.

We strive to produce positive returns across all businesses and use this measure to monitor how efficiently we are using our capital.

Each business sector has differing asset profiles and returns are measured against an appropriate target for that sector.

Our business units continued to make good progress and Lucy Electric had another strong year.

The Group’s substantial investment property portfolio continues to provide a balanced risk profile over the long term, although this year the portfolio reduced in value.