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2020 Results Press Release Friday , 12 March 2021 Circulation : RNS formatted Bodycote Bodycote plc Full year results for the year ended 31 December 2020 www.bodycote.com Financial summary 2020 2019 % change % change at constant Revenue £ 598.0m £ 719.7m -16.9 % Headline operating profit¹ £ 75.3m £ 134.9m -44 % currency -16.6 % -44 % Headline EBITDA margin¹ 26.4 % 29.2 % Headline operating margin¹ 12.6 % 18.7 % Exceptional items³ £ ( 58.4 ) m Free cash flow¹ £ 106.1m £ 123.1m -14 % Basic headline earnings per share1,2 27.8p 52.1p -47 % Ordinary dividend per share 19.4p 19.3p Return on capital employed¹ 9.8 % 17.7 % Additional statutory measures Operating profit £ 5.0m £ 128.6m Profit after tax £ 0.8m £ 94.0m Net cash generated from operating activities £ 139.1m £ 177.3m Basic earnings per share 0.2p 49.4p Business transformed , resilience proven , structured for growth • The health and wellbeing of our people remains our top priority • Financial performance ○ Organic revenues declined 20 % • ○ Resilient headline EBITDA margin at 26.4 % ( 2019 : 29.2 % ) ○ Excellent free cash flow conversion¹ of 141 % ( 2019 : 91 % ) о Closing net debt of £ 23m after paying £ 96m of the consideration for Ellison ○ £ 36m of cash restructuring costs , generating £ 30m of annual savings by 2022 Continued programme of strategic investment Structured to align with long - term megatrends in road transport electrification , point - to - point air travel , and the reducing use of fossil fuels Uninterrupted 30+ year track record of growing or maintaining dividend 1 The headline performance measures represent the statutory results excluding certain non - operational items . These are deemed alternative performance measures under the European Securities and Markets Authority guidelines . Please refer to note 1 of the 2020 full - year results press release for a reconciliation to the IFRS equivalent . 2 A detailed EPS reconciliation is provided in note 8 . 3 Detail of exceptional items is provided in note 5 . 1