1. Challenge the Status Quo

The Healthcare industry is undergoing significant change. We have an opportunity to be a disruptive force in the market to provide a solution to our customers. Our goal is to expand our addressable market by enhancing our value chain and technologies. We will partner with our customers to continue to drive the technology transfers.

Our Business Model

Priorities for 2019

We aimed to:

  • acquire new capabilities from further technology transfers;
  • integrate BioMed and invest for future growth in liquids, powders and gels; and
  • continue to improve our Healthcare trading profit margins towards the stated medium-term of 20%.
Progress in 2019

We have:

  • acquired the R&D and manfuacturing assets of Systagenix, transforming Scapa;
  • integrated BioMed fully and begin further investment in systems, processes and infrastructure; and
  • improved the Healthcare trading profit margin to 16% (2018: 15.4%), excluding Systagenix and BioMed.
Future priorities

We aim to:

  • drive turn-key solutions pipeline, utilising our significant R&D resources;
  • identify opportunities beyond adhesives by leveraging and further investing in BioMed;
  • increase efficiencies through footprint consolidation; and
  • complete additional tech transfers.

2. Challenge Sufficiency

We believe that the Industrial pressure sensitive material market is significant but mature, inefficient and complacent. As one of the largest and few companies with a global footprint, we have the potential to grow and gain market share. We will leverage our operational excellence to focus on niche areas where we have a competitive advantage.

Our Business Model

Priorities for 2019

We aimed to:

  • continue the self-help strategy to improve trading profit margins and return on capital employed (ROCE);
  • deliver operational synergies from the Markel acquisition; and
  • focus on growth in niche areas where we have a competitive advantage.
Progress in 2019

We have:

  • improved the Industrial trading profit margin to 13.3% (2018: 12.6%) excluding Markel;
  • continued to focus on the integration of Markel into Windsor, US; further focus required to deliver the expected synergies; and
  • concentrated on core markets with differentiated products and gained market share with our key customers.
Future priorities

We aim to:

  • continue to focus on enhancing our commercial capabilities to further improve market share gains with new and existing customers;
  • delivery operational synergies from Markel; and
  • continue to leverage the strategic relationships and favourable macro trends to focus on growth.

3. Challenge Ourselves

Our strategy is underpinned by our people and our entrepreneurial culture which enable us to adapt to the many changes and challenges we face. The Scapa Way and our Ten Guiding Principles ensure that we will continue to focus on value creation. We must continue to ensure that our people, both new and current, are aligned with an entrepreneurial mindset.

Our Business Model

Priorities for 2019

We aimed to:

  • focus on the greater engagement of our people using tools we have developed;
  • continue bringing in external talent with aligned entrepreneurial mindsets; and
  • focus on succession planning, leveraging the internal capabilities that we are developing.
Progress in 2019

We have:

  • completed an all-employee survey, held multiple town-hall and other meetings to increase the engagement with our employees;
  • brought in new Presidents for Healthcare and Industrial, as well as a new CFO; and
  • continued to work on succession planning; further work to be undertaken after several key positions were filled internally.
Future priorities

We aim to:

  • continue to reinforce The Scapa Way and the Ten Guiding Principles;
  • follow up on the results of the all-employee survey; and
  • ensure succession planning is adequately in place throughout the organisation, investing in people, training and systems where necessary.

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