herman miller limited
herman miller limited Company Information
Company Number
01097772
Website
http://www.hermanmiller.com:Registered Address
1 portal road, bowerhill, melksham, SN12 6GN
Industry
Manufacture of other fabricated metal products n.e.c.
Telephone
01225794103
Next Accounts Due
March 2025
Group Structure
View All
Shareholders
herman miller holdings ltd 100%
herman miller limited Estimated Valuation
Pomanda estimates the enterprise value of HERMAN MILLER LIMITED at £197.5m based on a Turnover of £149.6m and 1.32x industry multiple (adjusted for size and gross margin).
herman miller limited Estimated Valuation
Pomanda estimates the enterprise value of HERMAN MILLER LIMITED at £85.8m based on an EBITDA of £9m and a 9.5x industry multiple (adjusted for size and gross margin).
herman miller limited Estimated Valuation
Pomanda estimates the enterprise value of HERMAN MILLER LIMITED at £180.1m based on Net Assets of £82.3m and 2.19x industry multiple (adjusted for liquidity).
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Herman Miller Limited Overview
Herman Miller Limited is a live company located in melksham, SN12 6GN with a Companies House number of 01097772. It operates in the manufacture of other fabricated metal products n.e.c. sector, SIC Code 25990. Founded in February 1973, it's largest shareholder is herman miller holdings ltd with a 100% stake. Herman Miller Limited is a mature, mega sized company, Pomanda has estimated its turnover at £149.6m with healthy growth in recent years.
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Herman Miller Limited Health Check
Pomanda's financial health check has awarded Herman Miller Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 5 measures and has 2 areas for improvement. Company Health Check FAQs
5 Strong
5 Regular
2 Weak
Size
annual sales of £149.6m, make it larger than the average company (£12.9m)
£149.6m - Herman Miller Limited
£12.9m - Industry AVG
Growth
3 year (CAGR) sales growth of 4%, show it is growing at a similar rate (5.2%)
4% - Herman Miller Limited
5.2% - Industry AVG
Production
with a gross margin of 29.9%, this company has a comparable cost of product (29.3%)
29.9% - Herman Miller Limited
29.3% - Industry AVG
Profitability
an operating margin of 4.2% make it less profitable than the average company (6.4%)
4.2% - Herman Miller Limited
6.4% - Industry AVG
Employees
with 437 employees, this is above the industry average (79)
437 - Herman Miller Limited
79 - Industry AVG
Pay Structure
on an average salary of £68.2k, the company has a higher pay structure (£38.6k)
£68.2k - Herman Miller Limited
£38.6k - Industry AVG
Efficiency
resulting in sales per employee of £342.3k, this is more efficient (£150k)
£342.3k - Herman Miller Limited
£150k - Industry AVG
Debtor Days
it gets paid by customers after 43 days, this is earlier than average (61 days)
43 days - Herman Miller Limited
61 days - Industry AVG
Creditor Days
its suppliers are paid after 47 days, this is close to average (47 days)
47 days - Herman Miller Limited
47 days - Industry AVG
Stock Days
it holds stock equivalent to 45 days, this is less than average (70 days)
45 days - Herman Miller Limited
70 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 14 weeks, this is average cash available to meet short term requirements (14 weeks)
14 weeks - Herman Miller Limited
14 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 46.7%, this is a similar level of debt than the average (47.9%)
46.7% - Herman Miller Limited
47.9% - Industry AVG
herman miller limited Credit Report and Business Information
Herman Miller Limited Competitor Analysis
Perform a competitor analysis for herman miller limited by selecting its closest rivals and benchmarking them against 12 key performance metrics.
herman miller limited Ownership
HERMAN MILLER LIMITED group structure
Herman Miller Limited has 1 subsidiary company.
Ultimate parent company
HERMAN MILLER INC
#0104425
2 parents
HERMAN MILLER LIMITED
01097772
1 subsidiary
herman miller limited directors
Herman Miller Limited currently has 4 directors. The longest serving directors include Ms Joanne Williams (Sep 2009) and Mr Robert Woodbridge (Jul 2018).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Ms Joanne Williams | 59 years | Sep 2009 | - | Director | |
| Mr Robert Woodbridge | England | 47 years | Jul 2018 | - | Director |
| Mr Jeffrey Stutz | England | 53 years | Aug 2018 | - | Director |
| Mr Kartik Shethia | 53 years | Jul 2021 | - | Director |
HERMAN MILLER LIMITED financials
Herman Miller Limited's latest turnover from June 2023 is £149.6 million and the company has net assets of £82.3 million. According to their latest financial statements, Herman Miller Limited has 437 employees and maintains cash reserves of £19.3 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Jun 2023 | May 2022 | May 2021 | May 2020 | Jun 2019 | Jun 2018 | Jun 2017 | May 2016 | May 2015 | May 2014 | Jun 2013 | Jun 2012 | May 2011 | May 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 149,606,000 | 134,509,000 | 139,295,000 | 131,191,000 | 148,738,000 | 144,773,000 | 130,193,000 | 105,825,000 | 105,866,000 | 88,645,000 | 80,251,000 | 90,006,000 | 76,740,000 | 69,607,000 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 104,830,000 | 93,944,000 | 83,956,000 | 82,891,000 | 92,372,000 | 91,761,000 | 82,358,000 | 63,625,000 | 71,245,000 | 57,828,000 | 53,814,000 | 58,093,000 | 50,737,000 | 48,936,000 |
| Gross Profit | 44,776,000 | 40,565,000 | 55,339,000 | 48,300,000 | 56,366,000 | 53,012,000 | 47,835,000 | 42,200,000 | 34,621,000 | 30,817,000 | 26,437,000 | 31,913,000 | 26,003,000 | 20,671,000 |
| Admin Expenses | 38,428,000 | 18,967,000 | 38,056,000 | 35,342,000 | 36,472,000 | 33,291,000 | 32,641,000 | 28,525,000 | 29,719,000 | 26,608,000 | 28,393,000 | 27,320,000 | 28,368,000 | 20,742,000 |
| Operating Profit | 6,348,000 | 21,598,000 | 17,283,000 | 12,958,000 | 19,894,000 | 19,721,000 | 15,194,000 | 13,675,000 | 4,902,000 | 4,209,000 | -1,956,000 | 4,593,000 | -2,365,000 | -71,000 |
| Interest Payable | 290,000 | 0 | 483,000 | 390,000 | 2,307,000 | 2,297,000 | 0 | 0 | 527,000 | 181,000 | 60,000 | 2,476,000 | 269,000 | 400,000 |
| Interest Receivable | 853,000 | 666,000 | 256,000 | 320,000 | 0 | 0 | 0 | 6,000 | 711,000 | 2,884,000 | 3,225,000 | 90,000 | 142,000 | |
| Pre-Tax Profit | 6,911,000 | 22,264,000 | 17,056,000 | 12,888,000 | 19,086,000 | 19,175,000 | 14,564,000 | 12,896,000 | 4,381,000 | 4,739,000 | -1,461,000 | 5,342,000 | -2,544,000 | -329,000 |
| Tax | -1,342,000 | -1,343,000 | -2,062,000 | -2,351,000 | -2,338,000 | -2,598,000 | -1,948,000 | -1,960,000 | -876,000 | -1,619,000 | -45,000 | -1,807,000 | 250,000 | -121,000 |
| Profit After Tax | 5,569,000 | 20,921,000 | 14,994,000 | 10,537,000 | 16,748,000 | 16,577,000 | 12,616,000 | 10,936,000 | 3,505,000 | 3,120,000 | -1,506,000 | 3,535,000 | -2,294,000 | -450,000 |
| Dividends Paid | 9,600,000 | 41,568,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,000,000 | 0 | 0 |
| Retained Profit | -4,031,000 | -20,647,000 | 14,994,000 | 10,537,000 | 16,748,000 | 16,577,000 | 12,616,000 | 10,936,000 | 3,505,000 | 3,120,000 | -1,506,000 | 535,000 | -2,294,000 | -450,000 |
| Employee Costs | 29,790,000 | 26,791,000 | 28,475,000 | 27,881,000 | 28,255,000 | 26,601,000 | 24,326,000 | 21,904,000 | 19,997,000 | 19,997,000 | 18,207,000 | 17,917,000 | 16,539,000 | 12,367,000 |
| Number Of Employees | 437 | 438 | 529 | 492 | 525 | 494 | 461 | 435 | 418 | 408 | 391 | 354 | 318 | 272 |
| EBITDA* | 9,024,000 | 24,281,000 | 20,721,000 | 16,186,000 | 22,335,000 | 22,668,000 | 17,993,000 | 16,082,000 | 6,955,000 | 6,026,000 | 431,000 | 6,156,000 | -787,000 | 1,311,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Jun 2023 | May 2022 | May 2021 | May 2020 | Jun 2019 | Jun 2018 | Jun 2017 | May 2016 | May 2015 | May 2014 | Jun 2013 | Jun 2012 | May 2011 | May 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 23,946,000 | 22,794,000 | 24,076,000 | 23,519,000 | 23,901,000 | 25,012,000 | 23,778,000 | 23,447,000 | 21,978,000 | 9,897,000 | 9,460,000 | 7,646,000 | 7,694,000 | 7,795,000 |
| Intangible Assets | 57,000 | 75,000 | 5,335,000 | 5,884,000 | 6,426,000 | 6,989,000 | 7,596,000 | 8,209,000 | 8,721,000 | 8,602,000 | 8,374,000 | 8,415,000 | 8,056,000 | 8,535,000 |
| Investments & Other | 15,945,000 | 15,945,000 | 46,000 | 46,000 | 0 | 46,000 | 46,000 | 46,000 | 46,000 | 46,000 | 46,000 | 46,000 | 49,000 | 49,000 |
| Debtors (Due After 1 year) | 13,071,000 | 12,846,000 | 11,820,000 | 11,597,000 | 0 | 36,000 | 1,970,000 | 36,000 | 36,000 | 36,000 | 36,000 | 36,000 | 36,000 | 36,000 |
| Total Fixed Assets | 53,019,000 | 51,660,000 | 41,277,000 | 41,046,000 | 30,327,000 | 32,083,000 | 33,390,000 | 31,738,000 | 30,781,000 | 18,581,000 | 17,916,000 | 16,143,000 | 15,835,000 | 16,415,000 |
| Stock & work in progress | 13,077,000 | 20,399,000 | 15,116,000 | 13,024,000 | 11,996,000 | 10,163,000 | 10,330,000 | 8,578,000 | 8,216,000 | 7,690,000 | 6,410,000 | 6,660,000 | 4,985,000 | 5,010,000 |
| Trade Debtors | 17,785,000 | 19,189,000 | 23,214,000 | 40,840,000 | 33,271,000 | 36,281,000 | 25,318,000 | 14,867,000 | 17,387,000 | 23,492,000 | 12,239,000 | 14,747,000 | 14,966,000 | 12,377,000 |
| Group Debtors | 31,744,000 | 3,683,000 | 2,428,000 | 0 | 0 | 0 | 0 | 3,206,000 | 3,703,000 | 2,126,000 | 3,569,000 | 1,715,000 | 2,401,000 | 4,178,000 |
| Misc Debtors | 12,738,000 | 16,815,000 | 8,703,000 | 0 | 0 | 0 | 0 | 2,676,000 | 4,723,000 | 2,931,000 | 4,054,000 | 3,570,000 | 2,223,000 | 2,098,000 |
| Cash | 19,303,000 | 8,049,000 | 44,017,000 | 14,733,000 | 19,187,000 | 13,302,000 | 11,162,000 | 8,918,000 | 9,086,000 | 2,868,000 | 5,331,000 | 4,596,000 | 10,786,000 | 10,723,000 |
| misc current assets | 6,757,000 | 0 | 0 | 3,396,000 | 3,350,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 45,000 | 0 |
| total current assets | 101,404,000 | 68,135,000 | 93,478,000 | 71,993,000 | 67,804,000 | 59,746,000 | 46,810,000 | 38,245,000 | 43,115,000 | 39,107,000 | 31,603,000 | 31,288,000 | 35,406,000 | 34,386,000 |
| total assets | 154,423,000 | 119,795,000 | 134,755,000 | 113,039,000 | 98,131,000 | 91,829,000 | 80,200,000 | 69,983,000 | 73,896,000 | 57,688,000 | 49,519,000 | 47,431,000 | 51,241,000 | 50,801,000 |
| Bank overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 13,602,000 | 21,964,000 | 7,990,000 | 5,550,000 | 8,494,000 | 8,259,000 | 6,038,000 | 5,823,000 | 9,474,000 | 8,303,000 | 4,939,000 | 6,001,000 | 4,915,000 | 3,389,000 |
| Group/Directors Accounts | 49,242,000 | 5,218,000 | 15,160,000 | 6,318,000 | 0 | 10,235,000 | 3,911,000 | 6,462,000 | 14,494,000 | 8,816,000 | 4,703,000 | 5,301,000 | 3,018,000 | 1,729,000 |
| other short term finances | 0 | 340,000 | 0 | 470,000 | 4,464,000 | 10,000 | 340,000 | 47,000 | 1,703,000 | 1,175,000 | 1,770,000 | 492,000 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 5,161,000 | 5,476,000 | 5,527,000 | 5,265,000 | 0 | 9,310,000 | 8,066,000 | 5,895,000 | 4,862,000 | 4,736,000 | 3,738,000 | 4,479,000 | 5,858,000 | 6,455,000 |
| total current liabilities | 68,005,000 | 32,998,000 | 28,677,000 | 17,603,000 | 17,596,000 | 23,462,000 | 18,355,000 | 18,227,000 | 30,533,000 | 23,030,000 | 15,150,000 | 16,273,000 | 13,791,000 | 11,573,000 |
| loans | 0 | 0 | 0 | 0 | 0 | 5,718,000 | 8,361,000 | 11,069,000 | 13,497,000 | 8,124,000 | 9,480,000 | 2,215,000 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,880,000 | 1,880,000 |
| other liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| provisions | 4,086,000 | 675,000 | 672,000 | 643,000 | 0 | 678,000 | 614,000 | 464,000 | 948,000 | 1,150,000 | 1,520,000 | 1,982,000 | 2,511,000 | 2,271,000 |
| total long term liabilities | 4,086,000 | 9,345,000 | 22,480,000 | 31,671,000 | 14,928,000 | 13,385,000 | 30,447,000 | 21,722,000 | 24,919,000 | 14,349,000 | 14,575,000 | 10,866,000 | 7,112,000 | 12,851,000 |
| total liabilities | 72,091,000 | 42,343,000 | 51,157,000 | 49,274,000 | 32,524,000 | 36,847,000 | 48,802,000 | 39,949,000 | 55,452,000 | 37,379,000 | 29,725,000 | 27,139,000 | 20,903,000 | 24,424,000 |
| net assets | 82,332,000 | 77,452,000 | 83,598,000 | 63,765,000 | 65,607,000 | 54,982,000 | 31,398,000 | 30,034,000 | 18,444,000 | 20,309,000 | 19,794,000 | 20,292,000 | 30,338,000 | 26,377,000 |
| total shareholders funds | 82,332,000 | 77,452,000 | 83,598,000 | 63,765,000 | 65,607,000 | 54,982,000 | 31,398,000 | 30,034,000 | 18,444,000 | 20,309,000 | 19,794,000 | 20,292,000 | 30,338,000 | 26,377,000 |
| Jun 2023 | May 2022 | May 2021 | May 2020 | Jun 2019 | Jun 2018 | Jun 2017 | May 2016 | May 2015 | May 2014 | Jun 2013 | Jun 2012 | May 2011 | May 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||
| Operating Profit | 6,348,000 | 21,598,000 | 17,283,000 | 12,958,000 | 19,894,000 | 19,721,000 | 15,194,000 | 13,675,000 | 4,902,000 | 4,209,000 | -1,956,000 | 4,593,000 | -2,365,000 | -71,000 |
| Depreciation | 2,624,000 | 2,636,000 | 2,862,000 | 2,652,000 | 2,441,000 | 2,371,000 | 2,223,000 | 1,781,000 | 1,480,000 | 1,287,000 | 1,104,000 | 992,000 | 1,054,000 | 1,233,000 |
| Amortisation | 52,000 | 47,000 | 576,000 | 576,000 | 576,000 | 576,000 | 626,000 | 573,000 | 530,000 | 1,283,000 | 571,000 | 524,000 | 149,000 | |
| Tax | -1,342,000 | -1,343,000 | -2,062,000 | -2,351,000 | -2,338,000 | -2,598,000 | -1,948,000 | -1,960,000 | -876,000 | -1,619,000 | -45,000 | -1,807,000 | 250,000 | -121,000 |
| Stock | -7,322,000 | 5,283,000 | 2,092,000 | 1,028,000 | 1,833,000 | -167,000 | 1,752,000 | 362,000 | 526,000 | 1,280,000 | -250,000 | 1,675,000 | -25,000 | 5,010,000 |
| Debtors | 22,805,000 | 6,368,000 | -6,272,000 | 19,166,000 | -3,046,000 | 9,029,000 | 6,503,000 | -5,064,000 | -2,736,000 | 8,687,000 | -170,000 | 442,000 | 937,000 | 18,689,000 |
| Creditors | -8,362,000 | 13,974,000 | 2,440,000 | -2,944,000 | 235,000 | 2,221,000 | 215,000 | -3,651,000 | 1,171,000 | 3,364,000 | -1,062,000 | 1,086,000 | 1,526,000 | 3,389,000 |
| Accruals and Deferred Income | -315,000 | -51,000 | 262,000 | 5,265,000 | -9,310,000 | 1,244,000 | 2,171,000 | 1,033,000 | 126,000 | 998,000 | -741,000 | -3,259,000 | -597,000 | 8,335,000 |
| Deferred Taxes & Provisions | 3,411,000 | 3,000 | 29,000 | 643,000 | -678,000 | 64,000 | 150,000 | -484,000 | -202,000 | -370,000 | -462,000 | -529,000 | 240,000 | 2,271,000 |
| Cash flow from operations | -13,067,000 | 25,213,000 | 25,570,000 | -3,395,000 | 14,737,000 | 10,326,000 | 15,722,000 | 9,384,000 | -1,568,000 | -1,459,000 | -470,000 | -280,000 | -8,514,000 | |
| Investing Activities | ||||||||||||||
| capital expenditure | 0 | 0 | -2,058,000 | -4,243,000 | -2,189,000 | -14,779,000 | ||||||||
| Change in Investments | 0 | 15,899,000 | 0 | 46,000 | -46,000 | 0 | 0 | 0 | 0 | 0 | 0 | -3,000 | 0 | 49,000 |
| cash flow from investments | 0 | -46,000 | -2,058,000 | -4,243,000 | -2,189,000 | -14,779,000 | ||||||||
| Financing Activities | ||||||||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 44,024,000 | -9,942,000 | 8,842,000 | 6,318,000 | -10,235,000 | 6,324,000 | -2,551,000 | -8,032,000 | 5,678,000 | 4,113,000 | -598,000 | 2,283,000 | 1,289,000 | 1,729,000 |
| Other Short Term Loans | -340,000 | 340,000 | -470,000 | -3,994,000 | 4,454,000 | -330,000 | 293,000 | -1,656,000 | 528,000 | -595,000 | 1,278,000 | 492,000 | 0 | 0 |
| Long term loans | 0 | 0 | 0 | 0 | -5,718,000 | -2,643,000 | -2,708,000 | -2,428,000 | 5,373,000 | -1,356,000 | 7,265,000 | 2,215,000 | 0 | 0 |
| Hire Purchase and Lease Commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| share issue | ||||||||||||||
| interest | 563,000 | 666,000 | -227,000 | -70,000 | -2,297,000 | 0 | 0 | -521,000 | 530,000 | 2,824,000 | 749,000 | -179,000 | -258,000 | |
| cash flow from financing | 53,158,000 | 5,565,000 | 12,984,000 | -10,125,000 | 8,061,000 | -16,218,000 | -11,462,000 | 5,688,000 | 87,000 | 11,777,000 | -4,842,000 | 7,365,000 | 28,298,000 | |
| cash and cash equivalents | ||||||||||||||
| cash | 11,254,000 | -35,968,000 | 29,284,000 | -4,454,000 | 5,885,000 | 2,140,000 | 2,244,000 | -168,000 | 6,218,000 | -2,463,000 | 735,000 | -6,190,000 | 63,000 | 10,723,000 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | 11,254,000 | -35,968,000 | 29,284,000 | -4,454,000 | 5,885,000 | 2,140,000 | 2,244,000 | -168,000 | 6,218,000 | -2,463,000 | 735,000 | -6,190,000 | 63,000 | 10,723,000 |
P&L
June 2023turnover
149.6m
+11%
operating profit
6.3m
-71%
gross margin
30%
-0.76%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
June 2023net assets
82.3m
+0.06%
total assets
154.4m
+0.29%
cash
19.3m
+1.4%
net assets
Total assets minus all liabilities
Similar Companies
herman miller limited company details
company number
01097772
Type
Private limited with Share Capital
industry
25990 - Manufacture of other fabricated metal products n.e.c.
incorporation date
February 1973
age
51
accounts
Full Accounts
ultimate parent company
previous names
N/A
incorporated
UK
address
1 portal road, bowerhill, melksham, SN12 6GN
last accounts submitted
June 2023
herman miller limited Charges & Mortgages
A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.
We found 3 charges/mortgages relating to herman miller limited. Currently there are 2 open charges and 1 have been satisfied in the past.
herman miller limited Companies House Filings - See Documents
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