baxi heating uk limited
baxi heating uk limited Company Information
Company Number
03879156
Website
www.baxi.co.ukRegistered Address
brooks house coventry road, warwick, warwickshire, CV34 4LL
Industry
Manufacture of central heating radiators and boilers
Telephone
03306780917
Next Accounts Due
September 2024
Group Structure
View All
Shareholders
baxi potterton ltd 100%
baxi heating uk limited Estimated Valuation
Pomanda estimates the enterprise value of BAXI HEATING UK LIMITED at £589.3m based on a Turnover of £347m and 1.7x industry multiple (adjusted for size and gross margin).
baxi heating uk limited Estimated Valuation
Pomanda estimates the enterprise value of BAXI HEATING UK LIMITED at £591.8m based on an EBITDA of £52.6m and a 11.25x industry multiple (adjusted for size and gross margin).
baxi heating uk limited Estimated Valuation
Pomanda estimates the enterprise value of BAXI HEATING UK LIMITED at £1.3b based on Net Assets of £493.2m and 2.71x industry multiple (adjusted for liquidity).
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Baxi Heating Uk Limited Overview
Baxi Heating Uk Limited is a live company located in warwickshire, CV34 4LL with a Companies House number of 03879156. It operates in the manufacture of central heating radiators and boilers sector, SIC Code 25210. Founded in November 1999, it's largest shareholder is baxi potterton ltd with a 100% stake. Baxi Heating Uk Limited is a mature, mega sized company, Pomanda has estimated its turnover at £347m with low growth in recent years.
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Baxi Heating Uk Limited Health Check
Pomanda's financial health check has awarded Baxi Heating Uk Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 8 measures and has 1 areas for improvement. Company Health Check FAQs
8 Strong
3 Regular
1 Weak
Size
annual sales of £347m, make it larger than the average company (£70.9m)
£347m - Baxi Heating Uk Limited
£70.9m - Industry AVG
Growth
3 year (CAGR) sales growth of 2%, show it is growing at a slower rate (6%)
2% - Baxi Heating Uk Limited
6% - Industry AVG
Production
with a gross margin of 38.3%, this company has a lower cost of product (31.4%)
38.3% - Baxi Heating Uk Limited
31.4% - Industry AVG
Profitability
an operating margin of 13.2% make it more profitable than the average company (9.6%)
13.2% - Baxi Heating Uk Limited
9.6% - Industry AVG
Employees
with 1202 employees, this is above the industry average (184)
1202 - Baxi Heating Uk Limited
184 - Industry AVG
Pay Structure
on an average salary of £48.5k, the company has an equivalent pay structure (£45.4k)
£48.5k - Baxi Heating Uk Limited
£45.4k - Industry AVG
Efficiency
resulting in sales per employee of £288.6k, this is equally as efficient (£289k)
£288.6k - Baxi Heating Uk Limited
£289k - Industry AVG
Debtor Days
it gets paid by customers after 41 days, this is earlier than average (70 days)
41 days - Baxi Heating Uk Limited
70 days - Industry AVG
Creditor Days
its suppliers are paid after 90 days, this is slower than average (39 days)
90 days - Baxi Heating Uk Limited
39 days - Industry AVG
Stock Days
it holds stock equivalent to 70 days, this is in line with average (70 days)
70 days - Baxi Heating Uk Limited
70 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 28 weeks, this is more cash available to meet short term requirements (13 weeks)
28 weeks - Baxi Heating Uk Limited
13 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 25.8%, this is a lower level of debt than the average (50.5%)
25.8% - Baxi Heating Uk Limited
50.5% - Industry AVG
BAXI HEATING UK LIMITED financials
Baxi Heating Uk Limited's latest turnover from December 2022 is £347 million and the company has net assets of £493.2 million. According to their latest financial statements, Baxi Heating Uk Limited has 1,202 employees and maintains cash reserves of £79 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 346,950,000 | 342,277,000 | 310,753,000 | 326,332,000 | 337,384,000 | 329,947,000 | 307,236,000 | 323,364,000 | 319,771,000 | 301,455,000 | 294,596,000 | 314,963,000 | 335,612,000 | 318,920,000 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 214,153,000 | 211,662,000 | 192,005,000 | 204,579,000 | 205,077,000 | 207,422,000 | 189,147,000 | 195,412,000 | 213,300,000 | 218,039,000 | 213,795,000 | 222,876,000 | 234,336,000 | 224,589,000 |
| Gross Profit | 132,797,000 | 130,615,000 | 118,748,000 | 121,753,000 | 132,307,000 | 122,525,000 | 118,089,000 | 127,952,000 | 106,471,000 | 83,416,000 | 80,801,000 | 92,087,000 | 101,276,000 | 94,331,000 |
| Admin Expenses | 86,981,000 | 90,270,000 | 89,037,000 | 114,806,000 | 68,419,000 | 72,640,000 | ||||||||
| Operating Profit | 45,816,000 | 40,345,000 | 29,711,000 | 6,947,000 | 32,857,000 | 21,691,000 | ||||||||
| Interest Payable | 68,000 | 96,000 | 382,000 | 701,000 | 2,000,000 | 3,004,000 | 5,502,000 | 18,873,000 | 18,017,000 | 27,361,000 | 25,838,000 | 25,452,000 | 29,307,000 | 28,707,000 |
| Interest Receivable | 8,443,000 | 3,191,000 | 4,557,000 | 6,277,000 | 6,695,000 | 5,786,000 | 9,327,000 | 24,244,000 | 22,918,000 | 36,496,000 | 35,863,000 | 35,373,000 | 32,915,000 | 31,584,000 |
| Pre-Tax Profit | 54,191,000 | 43,440,000 | 33,886,000 | 12,523,000 | 26,398,000 | 24,561,000 | 31,020,000 | 38,463,000 | 33,957,000 | 41,296,000 | 46,133,000 | 39,444,000 | 36,465,000 | 24,568,000 |
| Tax | -11,610,000 | -8,982,000 | -6,609,000 | -5,376,000 | -6,605,000 | -6,339,000 | -7,310,000 | -9,388,000 | -8,688,000 | -13,636,000 | -13,213,000 | -13,389,000 | -9,739,000 | -7,752,000 |
| Profit After Tax | 42,581,000 | 34,458,000 | 27,277,000 | 7,147,000 | 19,793,000 | 18,222,000 | 23,710,000 | 29,075,000 | 25,269,000 | 27,660,000 | 32,920,000 | 26,055,000 | 26,726,000 | 16,816,000 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 28,453,000 |
| Retained Profit | 42,581,000 | 34,458,000 | 27,277,000 | 7,147,000 | 19,793,000 | 18,222,000 | 23,710,000 | 29,075,000 | 25,269,000 | 27,660,000 | 32,920,000 | 26,055,000 | 26,726,000 | -11,637,000 |
| Employee Costs | 58,248,000 | 56,343,000 | 60,798,000 | 61,716,000 | 65,838,000 | 60,600,000 | 56,933,000 | 56,155,000 | 55,584,000 | 54,846,000 | 52,837,000 | 56,373,000 | 56,432,000 | 54,435,000 |
| Number Of Employees | 1,202 | 1,170 | 1,267 | 1,342 | 1,532 | 1,552 | 1,494 | 1,536 | 1,552 | 1,513 | 1,500 | 1,668 | 1,652 | 1,680 |
| EBITDA* | 52,601,000 | 45,831,000 | 35,052,000 | 18,464,000 | 46,952,000 | 35,598,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 25,483,000 | 24,104,000 | 24,795,000 | 20,649,000 | 17,460,000 | 15,208,000 | 12,850,000 | 13,027,000 | 14,763,000 | 17,913,000 | 20,770,000 | 25,648,000 | 29,162,000 | 28,009,000 |
| Intangible Assets | 10,054,000 | 13,326,000 | 12,863,000 | 13,195,000 | 18,039,000 | 22,871,000 | 26,110,000 | 31,600,000 | 38,066,000 | 45,941,000 | 53,816,000 | 61,691,000 | 69,566,000 | 77,441,000 |
| Investments & Other | 21,813,000 | 7,113,000 | 2,313,000 | 2,313,000 | 2,313,000 | 2,313,000 | 2,269,000 | 2,269,000 | 2,269,000 | 2,269,000 | 2,269,000 | 2,835,000 | 2,835,000 | 2,835,000 |
| Debtors (Due After 1 year) | 421,966,000 | 434,296,000 | 406,090,000 | 393,272,000 | 399,004,000 | 381,475,000 | 371,922,000 | 19,017,000 | 27,157,000 | 4,504,000 | 6,432,000 | 5,436,000 | 7,408,000 | 8,648,000 |
| Total Fixed Assets | 479,316,000 | 478,839,000 | 446,061,000 | 429,429,000 | 436,816,000 | 421,867,000 | 413,151,000 | 65,913,000 | 82,255,000 | 70,627,000 | 83,287,000 | 95,610,000 | 108,971,000 | 116,933,000 |
| Stock & work in progress | 41,257,000 | 35,431,000 | 34,152,000 | 27,787,000 | 26,738,000 | 27,030,000 | 21,576,000 | 22,085,000 | 22,821,000 | 20,724,000 | 22,564,000 | 29,128,000 | 28,607,000 | 25,826,000 |
| Trade Debtors | 39,178,000 | 49,247,000 | 46,109,000 | 65,912,000 | 68,001,000 | 77,505,000 | 88,778,000 | 88,542,000 | 81,482,000 | 67,413,000 | 60,821,000 | 68,176,000 | 83,791,000 | 81,485,000 |
| Group Debtors | 22,065,000 | 3,079,000 | 2,866,000 | 1,820,000 | 3,063,000 | 4,365,000 | 4,847,000 | 836,945,000 | 860,166,000 | 1,176,939,000 | 754,881,000 | 691,257,000 | 620,236,000 | 595,783,000 |
| Misc Debtors | 4,069,000 | 3,641,000 | 5,402,000 | 11,548,000 | 6,677,000 | 10,386,000 | 9,606,000 | 8,845,000 | 9,696,000 | 7,118,000 | 6,859,000 | 9,544,000 | 11,550,000 | 10,407,000 |
| Cash | 79,040,000 | 40,620,000 | 70,680,000 | 46,445,000 | 42,082,000 | 35,056,000 | 29,033,000 | 50,176,000 | 46,377,000 | 69,367,000 | 54,023,000 | 28,088,000 | 29,420,000 | 28,736,000 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| total current assets | 185,609,000 | 132,018,000 | 159,209,000 | 153,512,000 | 146,561,000 | 154,342,000 | 153,840,000 | 1,006,593,000 | 1,020,542,000 | 1,341,561,000 | 899,148,000 | 826,193,000 | 773,604,000 | 742,237,000 |
| total assets | 664,925,000 | 610,857,000 | 605,270,000 | 582,941,000 | 583,377,000 | 576,209,000 | 566,991,000 | 1,072,506,000 | 1,102,797,000 | 1,412,188,000 | 982,435,000 | 921,803,000 | 882,575,000 | 859,170,000 |
| 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 | 53,173,000 | 43,342,000 | 60,957,000 | 57,529,000 | 57,931,000 | 56,293,000 | 55,650,000 | 57,555,000 | 61,616,000 | 62,765,000 | 628,823,000 | 60,527,000 | 70,071,000 | 65,989,000 |
| Group/Directors Accounts | 30,177,000 | 27,764,000 | 29,750,000 | 29,220,000 | 32,266,000 | 28,242,000 | 28,999,000 | 539,645,000 | 584,755,000 | 925,346,000 | 0 | 458,576,000 | 436,776,000 | 385,302,000 |
| other short term finances | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 58,589,000 | 66,740,000 | 64,651,000 | 60,374,000 | 59,280,000 | 63,653,000 | 60,729,000 | 75,609,000 | 73,527,000 | 64,379,000 | 0 | 68,203,000 | 64,707,000 | 62,056,000 |
| total current liabilities | 141,939,000 | 137,846,000 | 155,358,000 | 147,123,000 | 149,477,000 | 148,188,000 | 145,378,000 | 672,809,000 | 719,898,000 | 1,052,490,000 | 628,823,000 | 587,306,000 | 571,554,000 | 513,347,000 |
| loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 19,109,000 | 33,042,000 | 33,160,000 | 32,028,000 | 87,459,000 |
| 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 | 0 | 0 |
| other liabilities | 0 | 0 | 0 | 160,000 | 320,000 | 480,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| provisions | 29,797,000 | 23,018,000 | 23,971,000 | 25,701,000 | 13,084,000 | 15,148,000 | 12,778,000 | 12,461,000 | 9,945,000 | 9,124,000 | 8,951,000 | 8,362,000 | 4,678,000 | 4,412,000 |
| total long term liabilities | 29,797,000 | 23,018,000 | 35,271,000 | 46,261,000 | 69,304,000 | 101,128,000 | 134,378,000 | 94,661,000 | 126,245,000 | 103,593,000 | 116,837,000 | 95,666,000 | 85,902,000 | 134,034,000 |
| total liabilities | 171,736,000 | 160,864,000 | 190,629,000 | 193,384,000 | 218,781,000 | 249,316,000 | 279,756,000 | 767,470,000 | 846,143,000 | 1,156,083,000 | 745,660,000 | 682,972,000 | 657,456,000 | 647,381,000 |
| net assets | 493,189,000 | 449,993,000 | 414,641,000 | 389,557,000 | 364,596,000 | 326,893,000 | 287,235,000 | 305,036,000 | 256,654,000 | 256,105,000 | 236,775,000 | 238,831,000 | 225,119,000 | 211,789,000 |
| total shareholders funds | 493,189,000 | 449,993,000 | 414,641,000 | 389,557,000 | 364,596,000 | 326,893,000 | 287,235,000 | 305,036,000 | 256,654,000 | 256,105,000 | 236,775,000 | 238,831,000 | 225,119,000 | 211,789,000 |
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||
| Operating Profit | 45,816,000 | 40,345,000 | 29,711,000 | 6,947,000 | 32,857,000 | 21,691,000 | ||||||||
| Depreciation | 4,006,000 | 3,343,000 | 3,160,000 | 3,594,000 | 3,561,000 | 3,339,000 | 4,376,000 | 4,376,000 | 5,139,000 | 6,138,000 | 7,243,000 | 7,395,000 | 6,220,000 | 6,032,000 |
| Amortisation | 2,779,000 | 2,143,000 | 2,181,000 | 7,923,000 | 9,107,000 | 8,750,000 | 8,064,000 | 7,875,000 | 7,875,000 | 7,875,000 | 7,875,000 | 7,875,000 | 7,875,000 | 7,875,000 |
| Tax | -11,610,000 | -8,982,000 | -6,609,000 | -5,376,000 | -6,605,000 | -6,339,000 | -7,310,000 | -9,388,000 | -8,688,000 | -13,636,000 | -13,213,000 | -13,389,000 | -9,739,000 | -7,752,000 |
| Stock | 5,826,000 | 1,279,000 | 6,365,000 | 1,049,000 | -292,000 | 5,454,000 | -509,000 | -736,000 | 2,097,000 | -1,840,000 | -6,564,000 | 521,000 | 2,781,000 | 25,826,000 |
| Debtors | -2,985,000 | 29,796,000 | -12,085,000 | -4,193,000 | 3,014,000 | -1,422,000 | -478,196,000 | -25,152,000 | -277,473,000 | 426,981,000 | 54,580,000 | 51,428,000 | 26,662,000 | 696,323,000 |
| Creditors | 9,831,000 | -17,615,000 | 3,428,000 | -402,000 | 1,638,000 | 643,000 | -1,905,000 | -4,061,000 | -1,149,000 | -566,058,000 | 568,296,000 | -9,544,000 | 4,082,000 | 65,989,000 |
| Accruals and Deferred Income | -8,151,000 | 2,089,000 | 4,277,000 | 1,094,000 | -4,373,000 | 2,924,000 | -14,880,000 | 2,082,000 | 9,148,000 | 64,379,000 | -68,203,000 | 3,496,000 | 2,651,000 | 62,056,000 |
| Deferred Taxes & Provisions | 6,779,000 | -953,000 | -1,730,000 | 12,617,000 | -2,064,000 | 2,370,000 | 317,000 | 2,516,000 | 821,000 | 173,000 | 589,000 | 3,684,000 | 266,000 | 4,412,000 |
| Cash flow from operations | 46,609,000 | -10,705,000 | 40,138,000 | 29,541,000 | 14,769,000 | -561,846,000 | ||||||||
| Investing Activities | ||||||||||||||
| capital expenditure | ||||||||||||||
| Change in Investments | 14,700,000 | 4,800,000 | 0 | 0 | 0 | 44,000 | 0 | 0 | 0 | 0 | -566,000 | 0 | 0 | 2,835,000 |
| cash flow from investments | ||||||||||||||
| Financing Activities | ||||||||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 2,413,000 | -1,986,000 | 530,000 | -3,046,000 | 4,024,000 | -757,000 | -510,646,000 | -45,110,000 | -340,591,000 | 925,346,000 | -458,576,000 | 21,800,000 | 51,474,000 | 385,302,000 |
| Other Short Term Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long term loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -19,109,000 | -13,933,000 | -118,000 | 1,132,000 | -55,431,000 | 87,459,000 |
| 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 | -160,000 | -160,000 | -160,000 | 480,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| share issue | ||||||||||||||
| interest | 8,375,000 | 3,095,000 | 4,175,000 | 5,576,000 | 4,695,000 | 2,782,000 | 3,825,000 | 5,371,000 | 4,901,000 | 9,135,000 | 10,025,000 | 9,921,000 | 3,608,000 | 2,877,000 |
| cash flow from financing | 11,403,000 | 2,003,000 | 2,352,000 | 20,184,000 | 26,469,000 | 23,941,000 | -548,332,000 | -20,432,000 | -379,519,000 | 912,218,000 | -483,645,000 | 20,510,000 | -13,745,000 | 699,064,000 |
| cash and cash equivalents | ||||||||||||||
| cash | 38,420,000 | -30,060,000 | 24,235,000 | 4,363,000 | 7,026,000 | 6,023,000 | -21,143,000 | 3,799,000 | -22,990,000 | 15,344,000 | 25,935,000 | -1,332,000 | 684,000 | 28,736,000 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | 38,420,000 | -30,060,000 | 24,235,000 | 4,363,000 | 7,026,000 | 6,023,000 | -21,143,000 | 3,799,000 | -22,990,000 | 15,344,000 | 25,935,000 | -1,332,000 | 684,000 | 28,736,000 |
baxi heating uk limited Credit Report and Business Information
Baxi Heating Uk Limited Competitor Analysis
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baxi heating uk limited Ownership
BAXI HEATING UK LIMITED group structure
Baxi Heating Uk Limited has 1 subsidiary company.
Ultimate parent company
REMEHA GROUP BV
#0024232
2 parents
BAXI HEATING UK LIMITED
03879156
1 subsidiary
baxi heating uk limited directors
Baxi Heating Uk Limited currently has 2 directors. The longest serving directors include Mr Johannes Rijnen (Nov 2023) and Mr Christopher Robottom (Mar 2024).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Johannes Rijnen | 51 years | Nov 2023 | - | Director | |
| Mr Christopher Robottom | 50 years | Mar 2024 | - | Director |
P&L
December 2022turnover
347m
+1%
operating profit
45.8m
+14%
gross margin
38.3%
+0.3%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2022net assets
493.2m
+0.1%
total assets
664.9m
+0.09%
cash
79m
+0.95%
net assets
Total assets minus all liabilities
Similar Companies
baxi heating uk limited company details
company number
03879156
Type
Private limited with Share Capital
industry
25210 - Manufacture of central heating radiators and boilers
incorporation date
November 1999
age
25
accounts
Full Accounts
ultimate parent company
previous names
baxi heating limited (October 2002)
baxi gold limited (December 1999)
incorporated
UK
address
brooks house coventry road, warwick, warwickshire, CV34 4LL
last accounts submitted
December 2022
baxi heating uk 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 19 charges/mortgages relating to baxi heating uk limited. Currently there are 0 open charges and 19 have been satisfied in the past.
baxi heating uk limited Companies House Filings - See Documents
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