Annual
Report
2022
Contents
www.bodycote.com/investors
for more information
In preparing this Strategic report, the Directors
have complied with s414C oftheCompanies
Act 2006.
This Strategic report has been prepared for the
Group as a whole and therefore gives greater
emphasis to those matters which are significant
to Bodycote plc and its subsidiary undertakings
when viewed as a whole.
Strategic report
01 Understanding Bodycote
02 Our markets and technologies
04 Our global network
06 Highlights
08 The investment case
10 Chair’s statement
11 Chief Executive’s review
14 Strategy and objectives
15 Our business model
16 Measuring progress
18 Our stakeholders
19 A component journey – Catching
the waves
20 Section 172 statement
22 Business review
24 A component journey – Tight seal
25 Chief Financial Officer’s report
28 Principal risks and uncertainties
33 Viability statement
34 A component journey – Steel bite
35 Sustainability report
41 A component journey – Strong winds
Governance
46 Board of Directors
48 Corporate governance statement
57 Directors’ report
59 Report of the Nomination Committee
63 Report of the Audit Committee
68 Board report on remuneration
83 Directors’ responsibilities statement
Financial statements
84 Independent auditors’ report
92 Consolidated income statement
93 Consolidated balance sheet
94 Consolidated cash flow statement
95 Consolidated statement of
changes in equity
96 Group accounting policies
104 Notes to the consolidated
financial statements
136 Company balance sheet
137 Company statement of changes in equity
138 Company accounting policies
141 Notes to the company
financial statements
Additional information
145 Five-year summary (unaudited)
146 Alternative performance measures
(APMs) – unaudited
149 Subsidiary undertakings
152 Shareholder enquiries
154 Company information
Strategic report Governance Financial statements Additional information
Bodycote plc annual report 2022
Understanding Bodycote
Driving performance
with our Core Values
We cultivate a culture of transparency, where honesty
and integrity are at the foundation of our business and our
relationships. Trust is at the heart of everything we do.
We create value for our employees, customers and shareholders,
and this is the very essence of Bodycote.
Creating Value
Honesty and Transparency
Page 35 for more information
We behave individually and collectively with respect for each
other, our stakeholders and the environment, conducting business
responsibly, taking ownership of our actions.
Respect and Responsibility
Strategic report Governance Financial statements Additional information
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Bodycote plc annual report 2022