Fenner

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Fenner Group

Fenner operates through two divisions, AEP (which in 2017 accounted for 45% of group revenue and 65% of underlying operating profit) and ECS (55% of group revenue and 35% of underlying operating profit).

Mining remains the group’s largest market, reflecting ECS’s position as a leading global supplier of heavyweight-conveyor belting, but the relative share of mining has declined due to the continuing strong growth of AEP and the increasing proportion of ECS’s sales which are to the construction industry and other industrial users.

‘Specialist industrial’ also includes the wide range of performance-critical niche products supplied by AEP businesses into a variety of segments.

 

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Advanced Engineered Products

In 2017, Medical remained the largest single end market within AEP, accounting for 20% of revenue. Oil & Gas revenues showed the greatest relative growth, increasing to 15% of divisional revenue, as AEP’s oil & gas businesses increased market shares and as the oil & gas industry generally showed signs of recovery.

Specialist industrial segments combined accounted for the remaining 65% of 2017 revenue; General Industrial sales include sales through third party distributors.

Businesses sold or closed were Xeridiem Medical Devices and CDI Europe.

 

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Engineered Conveyor Solutions

In 2017, the share of ECS’s revenue from bulk materials increased to 33% (2016: 28%), this reflected the re-positioning of the North American business away from coal mining towards industrial customers, such as suppliers of construction materials.

Coal mining maintained its overall share of revenue due to a strong performance by ECS Australia.

Other extractive comprises non-coal mining, such as iron and other ores, and phosphates.

 

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