Unipart’s revenue falls slightly in 2020

Unipart

Unipart has announced its 2020 results. Despite unprecedented global challenges, group turnover was broadly in line with the previous year at £786.7m, declining by 1.6% from £799.2m in 2019, resulting in underlying group profit before interest and taxation slightly lower than the previous year at £16.1m (2019: £17.8m). Group profit before interest and taxation, defined benefit pensions, and other exceptional items, was lower than the previous year at £19.7m (2019: £27.3m), and the Group ended the year with net cash of £21.6m (2019: net debt of £11.0m) putting the business in a strong liquid position to invest in future growth.

Despite unprecedented demand, in Unipart’s second year of managing the logistics operation for the NHS Supply Chain overall performance levels increased across the network, with the service levels to NHS Trusts being at a record high throughout the pandemic.

Early in 2020, Unipart Logistics announced a contract with Jaguar Land Rover to provide logistics services at its new Battery Assembly Centre in the West Midlands. This puts Unipart at the heart of Jaguar Land Rover’s electrification strategy.

Unipart Logistics extended its strong partnership with Kubota UK for a further five years. In the US, Unipart Logistics won a five-year contract extension with Pro:Direct Sports, the world’s largest online specialist sports retailer, with a planned 33% growth in warehouse and distribution services over the next period.

In October 2020, the group acquired Comms Design Limited, a high-tech design and manufacturing company specialising in electronic products primarily for the rail industry.

During the year, Unipart Rail extended its agreement with VolkerRail to use Unipart’s premises for the Rail Electrification Alliance for the next four years. Unipart also renewed its framework contracts for Network Rail. Unipart renewed traction and rolling stock contracts with East Midlands Railway, Northern, and Arriva, and secured new business with Angel Trains, Hitachi and Stadler.

In North America, Unipart signed an agreement with Graham Construction for the future delivery of level crossings, building on work done in 2019. New equipment lines have been introduced with McCulloch Rail, whose innovative panel lifters technology is now being produced by Unipart Manufacturing Group in Coventry and exported to Unipart Rail’s global market.

Unipart has said it is committed to sustainability and carbon neutrality by 2030, with initiatives in the business last year reducing carbon use by 20%, reducing water consumption by 10%, and achieving an overall recycling rate of 97%.

Source: Unipart