Annual Report and Accounts 2020

Contributing to a more sustainable future

£ 539 m
Operating profit (underlying)
55.625 p
Ordinary dividend per share
£ 4.2 bn
Sales (excluding precious metals)

Chief Executive's statement

“We have navigated the immediate impact of COVID-19, acting quickly and decisively to protect our stakeholders and our business. At the same time, we continue to execute against our strategy and are accelerating this to take Johnson Matthey to the next stage of its evolution, creating a simpler organisation and enabling a greater focus on driving growth. In an uncertain world, our science remains at the heart of JM and we are well positioned for future success with our leading sustainable technologies. As we drive towards our vision to create a cleaner, healthier world, I remain confident in the future.”

Robert MacLeod
Chief Executive

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Our strategy

Driven by key global trends, our strategy is to use our world class science to solve customers' complex problems. This creates long term value for our shareholders and a cleaner, healthier world for everyone.

85.9 %
Sales from products contributing to the UN SDGs
£ 199 m
Gross R&D expenditure
~ 1.3 bn
Available liquidity
£ 225 m
Total annualised cost savings from efficiency initiatives by end 2022/23

Key performance indicators

We have 13 key performance indicators (KPIs), which we use to measure our financial and non-financial performance. Our KPIs measure progress against our strategy.

199.2 p
Underlying earnings per share
13.3 %
Return on invested capital
Lost time illness and injury rate, -39%
Customer satisfaction (out of 10)

Responsible business

Our vision of a cleaner, healthier world, today and for future generations, ensures sustainable business is embedded explicitly in what we bring to the world as well as how we conduct ourselves while making that contribution.

Tonnes CO₂ equivalent operational carbon footprint
Tonnes of pollutants removed by JM products
Lives positively impacted by JM products
Employee engagement

Financial performance review

In the year, we delivered a resilient performance and remain well positioned with our strong balance sheet. We have a strong track record of delivering efficiency and are now accelerating our strategy to drive further efficiency across the business, building upon the investments we have made in new manufacturing facilities and in our systems and processes.

£ 4.2 bn
Sales (excluding precious metals)
£ 539 m
Operating profit (underlying)
199.2 p
Underlying earnings per share
1.6 times
Net debt to EBITDA


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Chair's statement