BUSINESS MODEL

discoverIE designs, manufactures and supplies application-specific electronic products that help our customers solve their technical challenges.

Our customers:

Our customers are OEMs that require solutions for their product-specific applications. With rising electronic content, customers are increasingly dependent on technology to develop their next generation products.

Identification of opportunity:

By working closely with our customers, we are able to understand their needs and provide solutions. We understand our customers, how they operate and how our components and solutions fit into their products. The solutions we provide result in an enhanced performance of our customers’ products, which benefits not only our customers but also the end users of those products.

Design and quotation:

We design solutions for our customers. While some solutions are designed completely from scratch, we have “platform product ranges” that can be modified to meet our customers’ needs. Speed is important - the ability to provide customers with a quote quickly enables them to produce the final product faster. This approach saves customers time and cost. Customers will work with a dedicated team of engineers to create a design that matches their requirements.

Sample and approach:

Once the quote and design is accepted, a few samples are provided to the customer for approval. This is a critical step in the process.

Production:

With internal know-how and in-house manufacturing, we are able to maintain complete control of the product manufacturing process, ensuring both high standards and reliability. Quality is assured through our advanced testing procedures.

Repeat revenue streams:

Once approved, our products typically enjoy repeat revenue for the lifetime of the customer’s production, typically 5-7 years, depending on the product end market.

Cross-selling opportunities:

A key strategic focus for the Group is cross-selling between the businesses. We aim to sell as many product groups to the customers as possible.

Cross-selling initiatives are changing the nature of the discoverIE business by broadening the range of products sold to customers, in turn developing more valuable customer relationships and achieving more efficient use of sales resources. The divisional structure provides excellent cross-selling opportunities by providing the Design & Manufacturing business access to over 25,000 customers.

Markets

Medical

Renewable Energy
 

Industrial Connectivity
 

Transportation


 

Malcolm Diamond MBE

Position: Chairman since 1 April 2017; Non-Executive Director since November 2015; Chairman of the Nomination Committee and member of the Remuneration Committee.

lndependent: Yes

Other Appointments: Non-Executive Chairman of Trifast Plc and Flowtech Fluidpower PLC.

Skills and experience: Malcolm brings considerable commercial and international business experience to the Board, as well as City investor knowledge and expertise. Prior to joining the Board, Malcolm was Executive Chairman and Chief Executive of Trifast plc and, among other previous appointments, was the Senior Non-Executive Director of Dechra Pharmaceuticals Plc and a Non-Executive Director of Unicorn AIM VCT plc.

Nick Jefferies

Position: Group Chief Executive since January 2009; Chairman of the Group Executive Committee and member of the Nomination Committee.

Other Appointments: None

Skills and experience: With 30 years' experience, Nick brings extensive knowledge of the electronics industry. Formerly General Manager for electronics globally at Electrocomponents plc, he started his career as an electronics design engineer for Racal Defence (now part of Thales plc) before joining Toshiba and then Hitachi's European electronic components businesses.

Simon Gibbins
 

Position: Group Finance Director since July 2010 and a member of the Group Executive Committee.

Other Appointments: None

Skills and experience: Simon brings significant financial expertise and experience gained at an international level. A Chartered Accountant, he was previously Global Head of Finance and Deputy CFO at Shire plc. Prior to joining Shire in 2000, he spent 6 years with lCl plc in various senior finance roles, both in the UK and overseas. His earlier career was spent with Coopers & Lybrand.

SIMON GIBBINS

Position: Group Finance Director since July 2010 and a member of the Group Executive Committee.

Other Appointments: None

Skills and Experience: Simon brings significant financial expertise and experience gained at an international level. A Chartered Accountant, he was previously Global Head of Finance and Deputy CFO at Shire plc. Prior to joining Shire in 2000, he spent 6 years with lCl plc in various senior finance roles, both in the UK and overseas. His earlier career was spent with Coopers & Lybrand.
 

Richard Brooman

Position: Senior Non-Executive Director since December 2014; Non-Executive Director since January 2013; Chairman of the Audit Committee and member of the Remuneration and Nomination Committee.

lndependent: Yes

Other Appointments: Non-Executive Director at Hg Capital Trust plc and lnvesco Perpetual UK Smaller Companies lnvestment Trust plc, Skills and experience: Richard brings a wealth of financial and risk management experience to the Board. A Chartered Accountant, Richard was Group Finance Director of Sherwood lnternational plc and VCI plc during his executive career and he is a Director or Trustee of several businesses in the third sector.

Tracey Graham

Position: Non-Executive Director since November 2015; member of the Audit, Nomination and Remuneration Committees.

lndependent: Yes

Other Appointments: Non-Executive Director at lbstock plc, at Royal London Mutual Building Society and at Link Scheme Limited. Chairman of lnvestment Funds Direct Limited and Chairman of Link Consumer Council.

Skills and experience: Tracey brings significant operational expertise to the Board. During her executive career, Tracey was Chief Executive of Talaris Limited and Managing Director of De La Rue Cash Systems. Among other previous appointments, she was a Non-Executive Director at RPS Group PLC,

Henrietta Marsh

Position: Non-Executive Director since May 2013; Chairman of the Remuneration Committee and member of the Audit and Nomination Committees.

lndependent: Yes

Other Appointments: Non-Executive Director and Chairman of the Remuneration Committee at Electric Word plc, Member nominated trustee of the 3i plc Pension Fund.

Skills and experience: Henrietta has 30 years' experience in the financial services industry. She was the founder chairman of the AIM VCT Managers Group and is a member of the London Stock Exchange's AIM Advisory Group, Henrietta was previously responsible for AIM investment at Living Bridge EP LLP and was a director of 3i plc, where she worked as a fund manager.

BRUCE THOMPSON

Position: Non-Executive director since February 2018, member of the Remuneration Committee.

lndependent: Yes

Other Appointments: None

Skills and Experience: Bruce brings a wide range of strategic and leadership expertise to the Board with proven experience of growing international industrial businesses. During his executive career, Bruce was Chief Executive Officer of Diploma PLC. Prior to joining Diploma, Bruce was a director with the technology and management consulting firm Arthur D. Little Inc, both in the UK and the USA.

Joanna Harkus Madge

Position: Group company secretary since 1 April 2017.

Other Appointments: None

Skills and experience: Joanna joined discoverlE as Group Company Secretary Designate in January 2017 and became Group Company Secretary on 1 April 2017. A qualified Chartered Secretary, she previously held that position at Arle Capital Partners Limited (formerly part of Candover lnvestments plc).

MAJOR SHAREHOLDERS

Group Head Office

discoverIE Group plc
2 Chancellor Court
Occam Road
Surrey Research Park
Guildford GU2 7AH

Telephone: +44 (0) 1483 544 500
Fax: +44 (0) 1483 544 550
Email: [email protected]
Website: http://www.discoverieplc.com

Stockbrokers - Peel Hunt LLP

Principal bankers - Barclays Bank PLC/Lloyds TSB Bank plc

Auditors - Ernst & Young LLP

Registrars - Equiniti Limited