baxi heating uk limited

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baxi heating uk limited Company Information

Share BAXI HEATING UK LIMITED
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MatureMegaLow

Company Number

03879156

Registered 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

£589.3m

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

£591.8m

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

£1.3b

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

Health Check Image
Health Rating5out of 5
positive_score

8 Strong

positive_score

3 Regular

positive_score

1 Weak

size

Size

annual sales of £347m, make it larger than the average company (£70.9m)

£347m - Baxi Heating Uk Limited

£70.9m - Industry AVG

growth

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

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

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

Employees

with 1202 employees, this is above the industry average (184)

1202 - Baxi Heating Uk Limited

184 - Industry AVG

paystructure

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

Efficiency

resulting in sales per employee of £288.6k, this is equally as efficient (£289k)

£288.6k - Baxi Heating Uk Limited

£289k - Industry AVG

debtordays

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

creditordays

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

stockdays

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

cashbalance

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

debtlevel

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

EXPORTms excel logo

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 HousePomanda Estimates

Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Turnover346,950,000342,277,000310,753,000326,332,000337,384,000329,947,000307,236,000323,364,000319,771,000301,455,000294,596,000314,963,000335,612,000318,920,000
Other Income Or Grants00000000000000
Cost Of Sales214,153,000211,662,000192,005,000204,579,000205,077,000207,422,000189,147,000195,412,000213,300,000218,039,000213,795,000222,876,000234,336,000224,589,000
Gross Profit132,797,000130,615,000118,748,000121,753,000132,307,000122,525,000118,089,000127,952,000106,471,00083,416,00080,801,00092,087,000101,276,00094,331,000
Admin Expenses86,981,00090,270,00089,037,000114,806,000108,160,465100,188,92688,550,51191,849,63274,153,24246,107,49035,538,92354,902,70168,419,00072,640,000
Operating Profit45,816,00040,345,00029,711,0006,947,00024,146,53522,336,07429,538,48936,102,36832,317,75837,308,51045,262,07737,184,29932,857,00021,691,000
Interest Payable68,00096,000382,000701,0002,000,0003,004,0005,502,00018,873,00018,017,00027,361,00025,838,00025,452,00029,307,00028,707,000
Interest Receivable8,443,0003,191,0004,557,0006,277,0006,695,0005,786,0009,327,00024,244,00022,918,00036,496,00035,863,00035,373,00032,915,00031,584,000
Pre-Tax Profit54,191,00043,440,00033,886,00012,523,00026,398,00024,561,00031,020,00038,463,00033,957,00041,296,00046,133,00039,444,00036,465,00024,568,000
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 Tax42,581,00034,458,00027,277,0007,147,00019,793,00018,222,00023,710,00029,075,00025,269,00027,660,00032,920,00026,055,00026,726,00016,816,000
Dividends Paid000000000000028,453,000
Retained Profit42,581,00034,458,00027,277,0007,147,00019,793,00018,222,00023,710,00029,075,00025,269,00027,660,00032,920,00026,055,00026,726,000-11,637,000
Employee Costs58,248,00056,343,00060,798,00061,716,00065,838,00060,600,00056,933,00056,155,00055,584,00054,846,00052,837,00056,373,00056,432,00054,435,000
Number Of Employees1,2021,1701,2671,3421,5321,5521,4941,5361,5521,5131,5001,6681,6521,680
EBITDA*52,601,00045,831,00035,052,00018,464,00036,814,53534,425,07441,978,48948,353,36845,331,75851,321,51060,380,07752,454,29946,952,00035,598,000

* Earnings Before Interest, Tax, Depreciation and Amortisation

Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Tangible Assets25,483,00024,104,00024,795,00020,649,00017,460,00015,208,00012,850,00013,027,00014,763,00017,913,00020,770,00025,648,00029,162,00028,009,000
Intangible Assets10,054,00013,326,00012,863,00013,195,00018,039,00022,871,00026,110,00031,600,00038,066,00045,941,00053,816,00061,691,00069,566,00077,441,000
Investments & Other21,813,0007,113,0002,313,0002,313,0002,313,0002,313,0002,269,0002,269,0002,269,0002,269,0002,269,0002,835,0002,835,0002,835,000
Debtors (Due After 1 year)421,966,000434,296,000406,090,000393,272,000399,004,000381,475,000371,922,00019,017,00027,157,0004,504,0006,432,0005,436,0007,408,0008,648,000
Total Fixed Assets479,316,000478,839,000446,061,000429,429,000436,816,000421,867,000413,151,00065,913,00082,255,00070,627,00083,287,00095,610,000108,971,000116,933,000
Stock & work in progress41,257,00035,431,00034,152,00027,787,00026,738,00027,030,00021,576,00022,085,00022,821,00020,724,00022,564,00029,128,00028,607,00025,826,000
Trade Debtors39,178,00049,247,00046,109,00065,912,00068,001,00077,505,00088,778,00088,542,00081,482,00067,413,00060,821,00068,176,00083,791,00081,485,000
Group Debtors22,065,0003,079,0002,866,0001,820,0003,063,0004,365,0004,847,000836,945,000860,166,0001,176,939,000754,881,000691,257,000620,236,000595,783,000
Misc Debtors4,069,0003,641,0005,402,00011,548,0006,677,00010,386,0009,606,0008,845,0009,696,0007,118,0006,859,0009,544,00011,550,00010,407,000
Cash79,040,00040,620,00070,680,00046,445,00042,082,00035,056,00029,033,00050,176,00046,377,00069,367,00054,023,00028,088,00029,420,00028,736,000
misc current assets00000000000000
total current assets185,609,000132,018,000159,209,000153,512,000146,561,000154,342,000153,840,0001,006,593,0001,020,542,0001,341,561,000899,148,000826,193,000773,604,000742,237,000
total assets664,925,000610,857,000605,270,000582,941,000583,377,000576,209,000566,991,0001,072,506,0001,102,797,0001,412,188,000982,435,000921,803,000882,575,000859,170,000
Bank overdraft00000000000000
Bank loan00000000000000
Trade Creditors 53,173,00043,342,00060,957,00057,529,00057,931,00056,293,00055,650,00057,555,00061,616,00062,765,000628,823,00060,527,00070,071,00065,989,000
Group/Directors Accounts30,177,00027,764,00029,750,00029,220,00032,266,00028,242,00028,999,000539,645,000584,755,000925,346,0000458,576,000436,776,000385,302,000
other short term finances00000000000000
hp & lease commitments00000000000000
other current liabilities58,589,00066,740,00064,651,00060,374,00059,280,00063,653,00060,729,00075,609,00073,527,00064,379,000068,203,00064,707,00062,056,000
total current liabilities141,939,000137,846,000155,358,000147,123,000149,477,000148,188,000145,378,000672,809,000719,898,0001,052,490,000628,823,000587,306,000571,554,000513,347,000
loans00000000019,109,00033,042,00033,160,00032,028,00087,459,000
hp & lease commitments00000000000000
Accruals and Deferred Income00000000000000
other liabilities000160,000320,000480,00000000000
provisions29,797,00023,018,00023,971,00025,701,00013,084,00015,148,00012,778,00012,461,0009,945,0009,124,0008,951,0008,362,0004,678,0004,412,000
total long term liabilities29,797,00023,018,00035,271,00046,261,00069,304,000101,128,000134,378,00094,661,000126,245,000103,593,000116,837,00095,666,00085,902,000134,034,000
total liabilities171,736,000160,864,000190,629,000193,384,000218,781,000249,316,000279,756,000767,470,000846,143,0001,156,083,000745,660,000682,972,000657,456,000647,381,000
net assets493,189,000449,993,000414,641,000389,557,000364,596,000326,893,000287,235,000305,036,000256,654,000256,105,000236,775,000238,831,000225,119,000211,789,000
total shareholders funds493,189,000449,993,000414,641,000389,557,000364,596,000326,893,000287,235,000305,036,000256,654,000256,105,000236,775,000238,831,000225,119,000211,789,000
Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Operating Activities
Operating Profit45,816,00040,345,00029,711,0006,947,00024,146,53522,336,07429,538,48936,102,36832,317,75837,308,51045,262,07737,184,29932,857,00021,691,000
Depreciation4,006,0003,343,0003,160,0003,594,0003,561,0003,339,0004,376,0004,376,0005,139,0006,138,0007,243,0007,395,0006,220,0006,032,000
Amortisation2,779,0002,143,0002,181,0007,923,0009,107,0008,750,0008,064,0007,875,0007,875,0007,875,0007,875,0007,875,0007,875,0007,875,000
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
Stock5,826,0001,279,0006,365,0001,049,000-292,0005,454,000-509,000-736,0002,097,000-1,840,000-6,564,000521,0002,781,00025,826,000
Debtors-2,985,00029,796,000-12,085,000-4,193,0003,014,000-1,422,000-478,196,000-25,152,000-277,473,000426,981,00054,580,00051,428,00026,662,000696,323,000
Creditors9,831,000-17,615,0003,428,000-402,0001,638,000643,000-1,905,000-4,061,000-1,149,000-566,058,000568,296,000-9,544,0004,082,00065,989,000
Accruals and Deferred Income-8,151,0002,089,0004,277,0001,094,000-4,373,0002,924,000-14,880,0002,082,0009,148,00064,379,000-68,203,0003,496,0002,651,00062,056,000
Deferred Taxes & Provisions6,779,000-953,000-1,730,00012,617,000-2,064,0002,370,000317,0002,516,000821,000173,000589,0003,684,000266,0004,412,000
Cash flow from operations46,609,000-10,705,00040,138,00029,541,00022,688,53529,991,074496,905,48965,390,368320,839,758-888,961,490499,833,077-15,247,70114,769,000-561,846,000
Investing Activities
capital expenditure-4,892,000-5,258,000-9,155,000-9,862,000-10,088,000-11,208,000-6,773,000-4,049,000-1,989,000-3,281,000-2,365,000-3,881,000-7,373,000-119,357,000
Change in Investments14,700,0004,800,00000044,0000000-566,000002,835,000
cash flow from investments-19,592,000-10,058,000-9,155,000-9,862,000-10,088,000-11,252,000-6,773,000-4,049,000-1,989,000-3,281,000-1,799,000-3,881,000-7,373,000-122,192,000
Financing Activities
Bank loans00000000000000
Group/Directors Accounts2,413,000-1,986,000530,000-3,046,0004,024,000-757,000-510,646,000-45,110,000-340,591,000925,346,000-458,576,00021,800,00051,474,000385,302,000
Other Short Term Loans 00000000000000
Long term loans00000000-19,109,000-13,933,000-118,0001,132,000-55,431,00087,459,000
Hire Purchase and Lease Commitments00000000000000
other long term liabilities00-160,000-160,000-160,000480,00000000000
share issue615,000894,000-2,193,00017,814,00017,910,00021,436,000-41,511,00019,307,000-24,720,000-8,330,000-34,976,000-12,343,000-13,396,000223,426,000
interest8,375,0003,095,0004,175,0005,576,0004,695,0002,782,0003,825,0005,371,0004,901,0009,135,00010,025,0009,921,0003,608,0002,877,000
cash flow from financing11,403,0002,003,0002,352,00020,184,00026,469,00023,941,000-548,332,000-20,432,000-379,519,000912,218,000-483,645,00020,510,000-13,745,000699,064,000
cash and cash equivalents
cash38,420,000-30,060,00024,235,0004,363,0007,026,0006,023,000-21,143,0003,799,000-22,990,00015,344,00025,935,000-1,332,000684,00028,736,000
overdraft00000000000000
change in cash38,420,000-30,060,00024,235,0004,363,0007,026,0006,023,000-21,143,0003,799,000-22,990,00015,344,00025,935,000-1,332,000684,00028,736,000

baxi heating uk limited Credit Report and Business Information

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Low Risk50 - 70
Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
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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 Shareholders

baxi potterton ltd 100%

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).

officercountryagestartendrole
Mr Johannes Rijnen51 years Nov 2023- Director
Mr Christopher Robottom50 years Mar 2024- Director

P&L

December 2022

turnover

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 2022

net assets

493.2m

+0.1%

total assets

664.9m

+0.09%

cash

79m

+0.95%

net assets

Total assets minus all liabilities

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

REMEHA GROUP BV

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.

charges

baxi heating uk limited Companies House Filings - See Documents

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