CML Microsystems : Report and Accounts for year ended 31st March 2022

CML Microsystems Plc

Annual Report and Accounts FY22

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About us

We develop mixed-signal, RF and microwave semiconductors for global communications markets.

Strategic report

Financial highlights	01
Operational highlights	01
At a glance	02
Chairman's statement	04
Market opportunity	08
Business model and strategy	10

Key performance indicators and risks 12

Group Managing Director's review 14

Environment, social and governance 19

Directors' report

Board of Directors	30
Senior management team	31
Corporate governance report	32
Directors' remuneration report	36
Directors' report	42

Financial statements

Statement of Directors' responsibilities 46

Independent auditor's report	47
Consolidated income statement	53
Consolidated statement of
total comprehensive income	54
Consolidated statement
of financial position	55
Consolidated and Company
cash flow statements	56
Consolidated statement
of changes in equity	58
Company statement of
financial position	59
Company statement of
changes in equity	60
Notes to the financial statements	61

Other information

Notice of Annual
General Meeting	100
Five-year record	106
Shareholder information	107
Glossary	108
Advisors	108

www.cmlmicroplc.com

Financial highlights

16.96	1.74
29%	>100%
(2021: 13.10)	(2021: 0.01)
Revenue	Pre-tax profit - continuing operations
(£m)	(£m)

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7.45

55%

(2021: 4.81)

Basic earnings per share for profit from continuing operations attributable to the ordinary equity holders of the Company (p)

4.31

58%

(2021: 2.73)

Adjusted EBITDA1 (£m)

report Directors'

49.85

(7%)

(2021: 53.45)

Shareholders' equity (£m)

1. For definition and reconciliation see note 12.

25.04

(22%)

(2021: 31.91)

Net cash (£m)

information Other statements Financial

Operational highlights

• Recovery from existing markets.
• Expanded product range - increasing addressable market.
• Strong investment in research and development.
• Dividend of £9m to shareholders.
• Completed move from Main Market to AIM.

CML Microsystems Plc | Annual Report and Accounts FY22

01

Strategic report

At a glance

The Company has long held an outstanding reputation for the quality of its engineering and development teams, supported by a clear strategy, depth of management and strong routes to market.

Cambridge, UK

Essex, UK

Somerset, UK

	North Carolina, USA	Wuxi,China
	Shanghai, China
Group operations Americas		Singapore

Group operations Europe

Group operations Far East

This map is illustrative, but not fully definitive, of our locations.

For a full list of our locations please visit our website at cmlmicroplc.com

2022 revenue split by region

Americas 17%		Europe	26%		Far East		57%
Key stats
			Design	Employees
Established	facilities	worldwide	Engineers
1968			3			133	>38%

Our brands

02	CML Microsystems Plc | Annual Report and Accounts FY22