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Annual Report 2023

Chair's introduction

TOGETHER WE PUT OUR PEOPLE FIRST

I WOULD LIKE TO START BY THANKING OUR PEOPLE WHO HAVE WORKED HARDER THAN EVER THIS YEAR TO DELIVER SIGNIFICANT PROGRESS ACROSS A NUMBER OF IMPORTANT AREAS.

Bruce Thompson
Chair

21 November 2023

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CEO's Statement

TOGETHER WE REALISE OUR POTENTIAL

AVON PROTECTION HAS EXTRAORDINARY POTENTIAL AND CAN SIGNIFICANTLY IMPROVE GROWTH, MARGINS AND ROIC.

Jos Sclater
CEO

21 November 2023

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Financial headlines

  • $243.8m Revenue
  • $21.2m Adjusted operating profit
  • $135.8m Closing order book

Operational highlights

Non-financial metrics are just as important in ensuring the effective delivery of our strategy.

  • EMPLOYEE ENGAGEMENT

    67%

    +1,200bps

    • FY23

      67%

    • FY22

      55%

    • FY21

      68%

  • GENDER DIVERSITY

    19%

    -200bps

    • FY23

      19%

    • FY22

      21%

    • FY21

      29%

  • HEALTH AND SAFETY

    14

    +180%

    • FY23

      14

    • FY22

      5

    • FY21

      16

View 2023 Annual Report & Accounts

Our STAR strategy

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Strengthen

Strengthen the fundamentals to provide a stable platform for transformation

Sustainability pillar links

  • Our Pillars 4
  • Our Pillars 3
  • Our Pillars 2
  • Our Pillars 1

Transform

Improve efficiency and working capital turns

Sustainability pillar links

  • Our Pillars 4
  • Our Pillars 1
  • Our Pillars 2

Advance

Organically grow the core and scale up emerging opportunities

Sustainability pillar links

  • Our Pillars 4
  • Our Pillars 2

Revolutionise

Leverage innovation to drive further growth

Sustainability pillar links

  • Our Pillars 1
  • Our Pillars 2

Strategy in action

Strengthen

Strengthening Together
Clair's story

This year we embarked on a transformative journey to define a new vision, mission and values, and provide a renewed sense of purpose and direction.

Throughout this process we have engaged with our employees through surveys, workshops and focus groups. Their insights and candid feedback were invaluable in guiding our efforts and ensuring alignment with their perspectives to shape the new vision, mission and values.

I am incredibly proud of the work that has been accomplished this year and to have been a part of it, seeing the collaboration between teams and the generation of a diverse range of ideas. Our new vision, mission and values are not just words on a wall; they are the foundation of a renewed commitment to our customers, our employees and the communities we serve.

Clair Randall
Director of Corporate Communications

Transform

Transforming Together
Raul's story

We’re focused on growing and formalising our continuous improvement culture to continue to explore new ways to improve processes, stay competitive, increase quality and output and improve the work environment.

I am proud to have been part of a cross-functional team that has undertaken six months of projects across our facility in Salem, looking to improve efficiencies and maximise our available floor space. Several pieces of equipment and tools have been repurposed at our other facilities, actions have been taken to enhance the sustainability of our processes and there has been a focus on improving 5S.

The team has risen to the challenge and these projects and Kaizens have reinvigorated a sense of continuous improvement culture and unity, while providing development opportunities for our teams. 

Kaizens are continuing across the sites, looking to observe, analyse, plan and action changes to enhance our manufacturing performance and reduce non-value-added activities. This is supported by training across all functions by our continuous improvement teams.

Raul Vargas
Salem Helmet Value Stream Manager

Advance

Advancing Together
Daron's story

This year we launched the EPIC line of ballistic helmets. This was the first collaboration across the three Head Protection sites and is the result of the innovative synergies between Avon Protection, Team Wendy and Avon Protection Ceradyne coming to life. The EPIC helmet range leverages the latest U.S. DOD ballistic protection technology pedigree from Avon Protection Ceradyne, with exceptional head protection from Team Wendy liner and retention systems, and seamless integration with Avon Protection respirators. The new line offers our law enforcement officers scalable options for exceptional protection at an economical price.

It was a proud moment to see the output of work from extraordinary individuals in cross-functional teams bringing this EPIC range to life and delivering innovation to our customers. From initial validation and prototypes, to manufacturing process set-up and marketing collateral completion, our teams displayed dedication and unique collaboration throughout the process to bring this product to the market. 

Currently available to the Americas first responder market, we’re looking forward to expanding the offering to our e-commerce website and building a strong pipeline of opportunities with militaries across the globe as we expand into EMEA regions.

Daron Shank
Product Category Manager

Revolutionise

Revolutionising Together
Henry's story

Our journey with the MiTR project has been nothing short of transformative. From its inception, when our engineering team’s ingenuity met the U.S. DOD’s needs to receiving very positive customer feedback from customer trials and DSEI 2023. 

The most rewarding aspect has been the opportunity to develop something revolutionary from the ground up. MiTR is about understanding the nuanced needs of our end users and we recognise that unparalleled protection isn’t solely about intensity; it’s also about reducing burden. MiTR, with its innovative integration of respiratory and ocular protection, lightens the load for our soldiers, enabling them to execute their crucial roles with heightened confidence and efficiency.

The efforts of the design engineering team haven’t just expanded Avon Protection’s product portfolio; they’ve created a new category in respiratory protection. I’m proud to be part of a team that not only envisions unparalleled protection but actively pioneers it. Together, we’re not just developing gear; we’re shaping the future by protecting those who protect us.

Henry Chadwick
Senior Design Engineer

WE PROTECT:
OUR SUSTAINABILITY AGENDA

Protecting runs through our culture and is at the heart of everything we do to help protect lives. This extends to ensuring a sustainable future for us all through our approach to sustainability.