Recent Insider Transactions Derivative • Mar 06
Co-Founder exercised options to buy UK£432k worth of stock. On the 2nd of March, Keith Neilson exercised options to buy 29k shares at a strike price of around UK£7.50, costing a total of UK£215k. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. Since June 2025, Keith's direct individual holding has increased from 3.18m shares to 3.19m. Company insiders have collectively bought UK£245k more than they sold, via options and on-market transactions, in the last 12 months. Declared Dividend • Mar 04
First half dividend of UK£0.15 announced Shareholders will receive a dividend of UK£0.15. Ex-date: 19th March 2026 Payment date: 16th April 2026 Dividend yield will be 2.2%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is covered by earnings (61% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 51% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 03
First half 2026 earnings released: EPS: US$0.29 (vs US$0.21 in 1H 2025) First half 2026 results: EPS: US$0.29 (up from US$0.21 in 1H 2025). Revenue: US$105.7m (up 5.7% from 1H 2025). Net income: US$10.0m (up 39% from 1H 2025). Profit margin: 9.5% (up from 7.2% in 1H 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Mar 03
Craneware plc Declares Interim Dividend for the Six Months Ended 31 December 2025, Payable on 16 April 2026 Craneware plc announced the board has declared an interim dividend of 15.0 pence per ordinary share (20.25 cents per ordinary share) for the six months ended 31 December 2025 (H1 FY25: 13.5 pence per ordinary share (16.87 cents per ordinary share)). The interim dividend is payable on 16 April 2026 to those shareholders on the register as at 20 March 2026. The ex-dividend date is 19 March 2026. The interim dividend of 15 pence per share is capable of being paid in US dollars subject to a shareholder having registered to receive their dividend in US dollars under the Company's Dividend Currency Election, or who has registered to do so by the close of business on 20 March 2026. The exact amount to be paid will be calculated by reference to the exchange rate to be announced on 20 March 2026. Announcement • Jan 20
Craneware plc to Report First Half, 2026 Results on Mar 02, 2026 Craneware plc announced that they will report first half, 2026 results on Mar 02, 2026 New Risk • Dec 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Announcement • Nov 22
Craneware plc Announces Board Changes As previously announced, following many years of service on the Board of Directors, David Kemp, Senior Non-Executive Director, has decided not to stand for re-election at the Company's AGM later 21 November 2025 and as a result, will retire from the Board following the close of the meeting. The Board thanks him for his significant contributions during his tenure. His insight and constructive challenge have been invaluable, helping drive Craneware's success. Following the completion of the AGM, Alistair Erskine will assume the role of Senior Independent Director, Susan Nelson will assume the role of Chair of the Audit Committee and Jill Goldsmith will take over the role of Company Secretary to the Board. Upcoming Dividend • Nov 20
Upcoming dividend of UK£0.18 per share Eligible shareholders must have bought the stock before 27 November 2025. Payment date: 18 December 2025. Payout ratio is on the higher end at 75%, however this is supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (1.3%). Reported Earnings • Oct 23
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: US$0.56 (up from US$0.34 in FY 2024). Revenue: US$205.7m (up 8.7% from FY 2024). Net income: US$19.7m (up 68% from FY 2024). Profit margin: 9.6% (up from 6.2% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 22%. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Declared Dividend • Sep 17
Final dividend of UK£0.18 announced Shareholders will receive a dividend of UK£0.18. Ex-date: 27th November 2025 Payment date: 18th December 2025 Dividend yield will be 1.2%, which is higher than the industry average of 0.9%. Payout Ratios Payout ratio: 75%. Cash payout ratio: 33%. Announcement • Sep 16
Craneware plc Recommends Final Dividend for the Year Ended 30 June 2025, Payable on 18 December 2025 Craneware plc recommended final dividend for the year ended 30 June 2025 of 18.5 pence per share (FY24: 16.0 pence per share), resulting in a proposed total dividend for the year of 32.0 pence per share (FY24: 29 pence per share). Subject to shareholder approval at the Annual General Meeting, the final dividend is expected to be paid on 18 December 2025 to those on the register as at 28 November 2025, with the corresponding ex-dividend date of 27 November 2025. The final dividend of 18.5 pence per share is capable of being paid in US dollars subject to a shareholder having registered to receive their dividend in US dollars under the Company's Dividend Currency Election, or who register to do so by the close of business on 28 November 2025. The exact amount to be paid will be calculated by reference to the exchange rate to be announced on 28 November 2025. Reported Earnings • Sep 15
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: US$0.56 (up from US$0.34 in FY 2024). Revenue: US$205.7m (up 8.7% from FY 2024). Net income: US$19.7m (up 68% from FY 2024). Profit margin: 9.6% (up from 6.2% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 22%. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Jul 16
Craneware plc to Report Fiscal Year 2025 Results on Sep 15, 2025 Craneware plc announced that they will report fiscal year 2025 results on Sep 15, 2025 Announcement • Jun 12
Bain Capital Intends Not to Make an Offer for Craneware Further to the announcement on 16 May 2025 regarding a possible offer for Craneware plc (AIM:CRW) ("Craneware"), Bain Capital Private Equity (Europe), LLP ("Bain Capital"), in its capacity as an adviser to the funds managed and/or advised by it or its affiliates (the "Bain Capital Funds"), confirmed that it does not intend to make a firm offer for Craneware. This is a statement to which Rule 2.8 of the Code applies. Accordingly, Bain Capital and any person(s) acting in concert with it will, except with the consent of the Panel on Takeovers and Mergers (the "Takeover Panel"), be bound by the restrictions set out in Rule 2.8 of the Code. Under Note 2 of Rule 2.8 of the Code, Bain Capital, and any person(s) acting in concert with it, reserves the right to set the restrictions in Rule 2.8 of the Code aside in the following circumstances: a) with the agreement of the Board of Directors of Craneware; b) following the announcement of a firm intention to make an offer for Craneware by, or on behalf of, a third party; c) following the announcement by Craneware of a Rule 9 waiver proposal (as described in Note 1 of the Notes on Dispensations from Rule 9 of the Code), or a reverse takeover (as defined by the Code); or d) where the Takeover Panel has determined that there has been a material change in circumstances. Bain Capital also reserves the right to acquire shares of Craneware, subject to, and in accordance with, the Code and other applicable regulations. Announcement • Jun 11
Bain Capital Private Equity (Europe), LLP cancelled the acquisition of Craneware plc (AIM:CRW). Bain Capital Private Equity (Europe), LLP proposed to acquire Craneware plc (AIM:CRW) for approximately £940 million on May 16, 2025. Bain Capital confirms that the Bain Capital Funds are assessing a possible offer to acquire the issued and to be issued share capital of Craneware. This evaluation is highly preliminary in nature, and has not to date involved any approach to the Board of Craneware. The Board of Craneware confirms that no proposal has been received from Bain Capital.
Khamran Ali and Nick Harper of Goldman Sachs International acted as financial advisor for Craneware plc. Neil Patel, Michael Nicholson, Benjamin Cryer and Kate Bannatyne of Peel Hunt LLP acted as financial advisor for Craneware plc.
Bain Capital Private Equity (Europe), LLP cancelled the acquisition of Craneware plc (AIM:CRW) on June 11, 2025. The Board confirms that it rejected a proposal from Bain Capital that valued Craneware at £26.50 per share, a price which the Board believes fundamentally undervalues Craneware and its prospects. The proposal was received without the parties entering into a due diligence process. The Board believes that the proposal received from Bain is not in the best interest of shareholders and is not consistent with the Board's understanding of the objectives of shareholders. The Board believes the Company's share price performance over the last 12 months is not reflective of the Company's trading performance and the continued improving prospects of the business, instead reflecting non-Craneware specific market factors. Bain Capital Private Equity (Europe), LLP also confirms that it does not intend to make a firm offer for Craneware. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to UK£22.10, the stock trades at a forward P/E ratio of 62x. Average forward P/E is 18x in the Healthcare Services industry in Europe. Total returns to shareholders of 69% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£10.70 per share. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to UK£18.30, the stock trades at a forward P/E ratio of 51x. Average forward P/E is 16x in the Healthcare Services industry in Europe. Total returns to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£11.44 per share. Declared Dividend • Mar 13
First half dividend of UK£0.14 announced Shareholders will receive a dividend of UK£0.14. Ex-date: 20th March 2025 Payment date: 17th April 2025 Dividend yield will be 1.6%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is covered by both earnings (87% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 5.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 75% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 12
Craneware plc Declares an Interim Dividend, Payable on 17 April 2025 The Board of Craneware plc has declared an interim dividend of 13.5 pence (16.87 cents) per ordinary share, payable on 17 April 2025 to those shareholders on the register as at 21 March 2025 (FY24 Interim dividend 13.0 pence). The ex-dividend date is 20 March 2025. The interim dividend of 13.5 pence per share is capable of being paid in US dollars subject to a shareholder having registered to receive their dividend in US dollars under the Company's Dividend Currency Election, or who has registered to do so by the close of business on 21 March 2025. The exact amount to be paid will be calculated by reference to the exchange rate to be announced on 21 March 2025. The interim dividend referred to above in US dollars of 16.87 cents is given as an example only using the Balance Sheet date exchange rate of $1.25/£1 and may differ from that finally announced. Reported Earnings • Mar 12
First half 2025 earnings released: EPS: US$0.21 (vs US$0.12 in 1H 2024) First half 2025 results: EPS: US$0.21 (up from US$0.12 in 1H 2024). Revenue: US$100.0m (up 9.7% from 1H 2024). Net income: US$7.24m (up 78% from 1H 2024). Profit margin: 7.2% (up from 4.5% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Healthcare Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Feb 13
Now 22% overvalued Over the last 90 days, the stock has fallen 8.1% to UK£20.50. The fair value is estimated to be UK£16.76, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 7.6%. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 104% in the next 2 years. Buy Or Sell Opportunity • Dec 19
Now 20% overvalued Over the last 90 days, the stock has fallen 3.0% to UK£22.30. The fair value is estimated to be UK£18.56, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings are also forecast to grow by 24% per annum over the same time period. Upcoming Dividend • Nov 21
Upcoming dividend of UK£0.16 per share Eligible shareholders must have bought the stock before 28 November 2024. Payment date: 18 December 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.3%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (2.7%). Announcement • Nov 13
Craneware plc Announces Board and Committee Changes Craneware plc announced, following many years' service on the Board of Directors, Colleen Blye, Senior Non-Executive Director, and Russ Rudish, Non-Executive Director, are not standing for re-election at the Company's AGM later on 13 November 2024. The company announced the appointment of Tamra Minnier as Non-Executive Director, which will take effect following 13 November 2024 AGM. Tamra is an experienced senior US healthcare executive, currently holding the role of Senior Vice President, Health Services Division, and Chief Quality and Operational Excellence Officer for UPMC. Tamra's role includes overseeing the Wolff Center, the driving force for Quality and Safety, Nursing, Surgical Services, Pharmacy, Imaging and Laboratory Operations for UPMC and responsibility for The Beckwith Institute. Following the completion of the AGM, David Kemp, will assume the role of Senior Independent Director, as well as continuing his role as Chair of the Audit Committee; Alistair Erskine will assume the role of Chair of the Remuneration Committee, and the appointment of Tamra Minnier will come into effect. Tamra E. Minnier, aged 62, has been a director or partner of the following companies or partnerships during the five years preceding the date of this announcement: Current: The United Way of Southwestern Pennsylvania; Phipps Conservatory and Botanical Gardens Inc.; Aging Institute; Infectious Disease Connect Inc. and The United Way of Western Pennsylvania. Historic: Joint Commission Resources Inc. and Patient Safety Movement Foundation. Buy Or Sell Opportunity • Nov 11
Now 22% overvalued Over the last 90 days, the stock has fallen 3.0% to UK£22.60. The fair value is estimated to be UK£18.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has declined by 11%. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings are also forecast to grow by 24% per annum over the same time period. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to UK£19.95, the stock trades at a forward P/E ratio of 61x. Average forward P/E is 17x in the Healthcare Services industry in Europe. Total loss to shareholders of 12% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£18.64 per share. Reported Earnings • Oct 20
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: US$0.34 (up from US$0.26 in FY 2023). Revenue: US$189.3m (up 8.8% from FY 2023). Net income: US$11.7m (up 27% from FY 2023). Profit margin: 6.2% (up from 5.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Oct 18
Craneware plc, Annual General Meeting, Nov 13, 2024 Craneware plc, Annual General Meeting, Nov 13, 2024. Location: the offices of craneware plc, 1 tanfield, eh3 5da, edinburgh United Kingdom Recent Insider Transactions • Sep 13
Co-Founder recently sold UK£9.3m worth of stock On the 11th of September, Keith Neilson sold around 424k shares on-market at roughly UK£22.00 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Keith's only on-market trade for the last 12 months. Major Estimate Revision • Sep 10
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from US$198.7m to US$205.6m. EPS estimate increased from US$0.377 to US$0.421 per share. Net income forecast to grow 37% next year vs 24% growth forecast for Healthcare Services industry in the United Kingdom. Consensus price target up from UK£26.70 to UK£28.82. Share price rose 6.3% to UK£23.70 over the past week. Declared Dividend • Sep 05
Final dividend of UK£0.16 announced Shareholders will receive a dividend of UK£0.16. Ex-date: 28th November 2024 Payment date: 18th December 2024 Dividend yield will be 1.3%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is covered by both earnings (89% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 7.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 90% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Sep 03
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: US$0.34 (up from US$0.26 in FY 2023). Revenue: US$189.3m (up 8.8% from FY 2023). Net income: US$11.7m (up 27% from FY 2023). Profit margin: 6.2% (up from 5.3% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Jul 18
Craneware plc to Report Fiscal Year 2024 Results on Sep 03, 2024 Craneware plc announced that they will report fiscal year 2024 results on Sep 03, 2024 Upcoming Dividend • Mar 14
Upcoming dividend of UK£0.13 per share Eligible shareholders must have bought the stock before 21 March 2024. Payment date: 15 April 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.3%. Lower than top quartile of British dividend payers (6.1%). In line with average of industry peers (1.4%). Declared Dividend • Mar 07
First half dividend of UK£0.13 announced Shareholders will receive a dividend of UK£0.13. Ex-date: 21st March 2024 Payment date: 15th April 2024 Dividend yield will be 1.4%, which is higher than the industry average of 0.9%. Sustainability & Growth Dividend is not covered by earnings (138% earnings payout ratio). However, it is well covered by cash flows (26% cash payout ratio). The dividend has increased by an average of 7.3% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 53% to bring the payout ratio under control. EPS is expected to grow by 91% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Mar 06
First half 2024 earnings released: EPS: US$0.12 (vs US$0.11 in 1H 2023) First half 2024 results: EPS: US$0.12 (up from US$0.11 in 1H 2023). Revenue: US$91.2m (up 7.7% from 1H 2023). Net income: US$4.06m (up 3.4% from 1H 2023). Profit margin: 4.5% (down from 4.6% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Healthcare Services industry in Europe. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Mar 05
Craneware plc Declares Dividend, Payable on April 15, 2024 The Board of Craneware plc declared a dividend of 13.0 pence (16.51 cents) per ordinary share, payable on 15 April 2024 to those shareholders on the register as at 22 March 2024 (Fiscal year 2023 Interim dividend 12.5 pence). The ex-dividend date is 21 March 2024. The interim dividend of 13.0 pence per share is capable of being paid in US dollars subject to a shareholder having registered to receive their dividend in US dollars under the Company's Dividend Currency Election, or who has registered to do so by the close of business on 22 March 2024. The exact amount to be paid will be calculated by reference to the exchange rate to be announced on 22 March 2024. The interim dividend referred to above in US dollars of 16.51 cents is given as an example only using the Balance Sheet date exchange rate of $1.27/£1 and may differ from that finally announced. Announcement • Jan 17
Craneware plc to Report First Half, 2024 Results on Mar 04, 2024 Craneware plc announced that they will report first half, 2024 results on Mar 04, 2024 Upcoming Dividend • Nov 16
Upcoming dividend of UK£0.16 per share at 1.7% yield Eligible shareholders must have bought the stock before 23 November 2023. Payment date: 15 December 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.7%. Lower than top quartile of British dividend payers (6.2%). Higher than average of industry peers (1.5%). Reported Earnings • Oct 20
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: US$0.26 (down from US$0.27 in FY 2022). Revenue: US$174.0m (up 5.1% from FY 2022). Net income: US$9.23m (down 1.9% from FY 2022). Profit margin: 5.3% (down from 5.7% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Healthcare Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Oct 18
Craneware plc, Annual General Meeting, Nov 16, 2023 Craneware plc, Annual General Meeting, Nov 16, 2023, at 10:00 Coordinated Universal Time. Location: offices of Craneware plc 1 Tanfield Edinburg United Kingdom Agenda: To receive and consider the Company's 2023 annual accounts and the Directors' and Auditors' reports; to approve the Directors' Remuneration Report; to re-appoint William Whitehorn as a Director; to re-appoint Keith Neilson as a Director; to re-appoint Craig Preston as a Director; to re-appoint Isabel Urquhart as a Director; to re-appoint Colleen Blye as a Director; to re-appoint Russ Rudish as a Director; to re-appoint Alistair Erskine as a Director; to re-appoint David Kemp as a Director; to re-appoint Anne McCune as a Director; to declare a final dividend of 16.0 pence per share, giving a total dividend for the year of 28.5 pence per share; to re-appoint PricewaterhouseCoopers LLP as the auditors of the Company and to authorise the directors to fix their remuneration; to authorise the directors to allot unissued ordinary shares; and to consider other matters. Reported Earnings • Sep 06
Full year 2023 earnings: Revenues and EPS in line with analyst expectations Full year 2023 results: EPS: US$0.26 (down from US$0.27 in FY 2022). Revenue: US$174.0m (up 5.1% from FY 2022). Net income: US$9.23m (down 1.9% from FY 2022). Profit margin: 5.3% (down from 5.7% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Healthcare Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Sep 05
Craneware plc Proposes Final Dividend for the Year Ended 30 June 2023, Payable on 15 December 2023 Craneware plc proposed the Board proposes a final dividend of 16.0 pence (20.19 cents) per share giving a total dividend for the year of 28.5 pence (35.95 cents) per share (FY22: 28 pence (33.96 cents) per share), an increase of 2%. Subject to approval at the Annual General Meeting, the final dividend will be paid on 15 December 2023 to shareholders on the register as at 24 November 2023, with a corresponding ex-Dividend date of 23 November 2023. Announcement • Jul 17
Craneware plc to Report Fiscal Year 2023 Results on Sep 05, 2023 Craneware plc announced that they will report fiscal year 2023 results on Sep 05, 2023 Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to UK£15.60, the stock trades at a forward P/E ratio of 81x. Average forward P/E is 26x in the Healthcare Services industry in Europe. Total loss to shareholders of 9.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£10.27 per share. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to UK£13.50, the stock trades at a forward P/E ratio of 71x. Average forward P/E is 24x in the Healthcare Services industry in Europe. Total loss to shareholders of 25% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£9.80 per share. Upcoming Dividend • Mar 16
Upcoming dividend of UK£0.13 per share at 2.1% yield Eligible shareholders must have bought the stock before 23 March 2023. Payment date: 14 April 2023. The company is paying out more than 100% of its profits and is paying out 76% of its cash flow. Trailing yield: 2.1%. Lower than top quartile of British dividend payers (5.9%). Higher than average of industry peers (1.4%). Reported Earnings • Mar 07
First half 2023 earnings released: EPS: US$0.11 (vs US$0.14 in 1H 2022) First half 2023 results: EPS: US$0.11 (down from US$0.14 in 1H 2022). Revenue: US$84.7m (up 5.6% from 1H 2022). Net income: US$3.93m (down 17% from 1H 2022). Profit margin: 4.6% (down from 5.9% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Healthcare Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment deteriorated over the past week After last week's 21% share price decline to UK£15.00, the stock trades at a forward P/E ratio of 77x. Average forward P/E is 25x in the Healthcare Services industry in Europe. Total loss to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£11.87 per share. Major Estimate Revision • Jan 20
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from US$184.4m to US$175.8m. EPS estimate also fell from US$0.30 per share to US$0.24 per share. Net income forecast to shrink 26% next year vs 23% growth forecast for Healthcare Services industry in the United Kingdom . Consensus price target broadly unchanged at UK£26.29. Share price fell 9.7% to UK£16.80 over the past week. Upcoming Dividend • Nov 17
Upcoming dividend of UK£0.15 per share Eligible shareholders must have bought the stock before 24 November 2022. Payment date: 16 December 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 1.4%. Lower than top quartile of British dividend payers (5.7%). In line with average of industry peers (1.3%). Announcement • Nov 16
Craneware plc Announces Executive Changes Craneware plc announced that the transition of customers to the cloud version of key product Trisus Chargemaster has been ongoing, with migration on track to complete by the end of 2022, while all Craneware customers are now using one or more of the group’s cloud offerings. It has also named Abhilesh Gandhi group chief technology officer who will oversee the engineering group, reporting into the chief executive. His CV includes more than two decades’ of engineering experience including leading engineering teams in Cerner Corporation and Sentry Data Systems before taking a key role on Craneware’s product board. The firm has also appointed US healthcare expert Anne McCune to the board as an independent non-executive director. She is currently a community board member of the Strategy and Transformation committee at Salinas Valley Memorial Healthcare System in California, for example, and was recognised by Modern Healthcare as one of the 2021 Top 25 Women Leaders in Healthcare. Announcement • Nov 15
Craneware plc Appoints Anne McCune as Independent Non-Executive Director, with Effect from 16 November 2022 Craneware plc announced the appointment to the Board of Anne McCune as an Independent Non-Executive Director, with effect from 16 November 2022. Anne is a recognised leader in the US Healthcare industry, having served as a senior executive for several leading academic hospital and physician centres and as a managing director in consulting. She is currently a Community Board member of the Strategy and Transformation committee at Salinas Valley Memorial Healthcare System in California, a principal in the academic healthcare division at ECG Management Consultants and President and CEO of the Carol Emmott Foundation, an organisation dedicated to achieving fully inclusive gender equality in healthcare leadership and governance. Anne holds an MBA from the Kellogg School of Management, Northwestern University and was recognised by Modern Healthcare as one of the 2021 Top 25 Women Leaders in Healthcare. Buying Opportunity • Nov 10
Now 22% undervalued Over the last 90 days, the stock is up 15%. The fair value is estimated to be UK£25.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has declined by 23%. For the next 3 years, revenue is forecast to grow by 8.4% per annum. Earnings is also forecast to grow by 13% per annum over the same time period. Announcement • Oct 15
Craneware plc, Annual General Meeting, Nov 15, 2022 Craneware plc, Annual General Meeting, Nov 15, 2022, at 09:00 Coordinated Universal Time. Location: 1 Tanfield Edinburgh Reported Earnings • Sep 21
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: US$0.27 (down from US$0.48 in FY 2021). Revenue: US$165.5m (up 119% from FY 2021). Net income: US$9.41m (down 27% from FY 2021). Profit margin: 5.7% (down from 17% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Healthcare Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Sep 20
Craneware plc Proposes Final Dividend for 2022, Payable on December 16, 2022 Craneware plc proposed final dividend, the Board has carefully considered a number of factors including the prevailing macro-economic climate, the Group's trading performance, current and future cash generation especially in light of the Sentry acquisition and the continued desire to recognise the support shareholders provide. After carefully weighing up these factors, the Board proposes a final dividend of 15.5 pence (18.80 cents) per share giving a total dividend for the year of 28 pence (33.96 cents) per share (FY21: 27.5 pence (38.10 cents) per share), an increase of 2%. Subject to approval at the Annual General Meeting, the final dividend will be paid on December 16, 2022 to shareholders on the register as at November 25, 2022, with a corresponding ex-Dividend date of November 24, 2022. Announcement • Jul 26
Craneware plc to Report Fiscal Year 2022 Results on Sep 19, 2022 Craneware plc announced that they will report fiscal year 2022 results on Sep 19, 2022 Announcement • Apr 28
Craneware plc Announces Appointment of Isabel Urquhart to Board Craneware announced the appointment of Isabel ("Issy") Urquhart, Chief People Officer, to the Board of Directors, with immediate effect. Having joined Craneware in 2015, Issy is a valued member of the Operation's Board of the Company and was instrumental in the integration of the Sentry team following the acquisition last year. In her role, Issy leads on the development and implementation of HR, organisation design and development and change management strategies. Previous roles include HR Director EMEA at CommScope, a Fortune 500 organisation employing 30,000 employees worldwide and Vice President of HR at Wolfson Microelectronics plc, a FTSE 350 Company. Issy is also prominent in the Scottish charitable and not for profit spheres, in her roles as Vice-Chair of the Edinburgh Business Beats Cancer Board and member of the Scottish and North American Business Council. Major Estimate Revision • Mar 21
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from US$0.69 to US$0.55 per share. Revenue forecast steady at US$173.4m. Net income forecast to grow 134% next year vs 26% growth forecast for Healthcare Services industry in the United Kingdom. Consensus price target down from UK£30.05 to UK£28.70. Share price was steady at UK£17.20 over the past week. Upcoming Dividend • Mar 17
Upcoming dividend of UK£0.13 per share Eligible shareholders must have bought the stock before 24 March 2022. Payment date: 14 April 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 1.7%. Lower than top quartile of British dividend payers (4.7%). Higher than average of industry peers (1.3%). Reported Earnings • Mar 15
First half 2022 earnings: EPS misses analyst expectations First half 2022 results: EPS: US$0.14 (down from US$0.32 in 1H 2021). Revenue: US$80.2m (up 111% from 1H 2021). Net income: US$4.72m (down 44% from 1H 2021). Profit margin: 5.9% (down from 22% in 1H 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%. Over the next year, revenue is forecast to grow 54%, compared to a 152% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 11% per year. Major Estimate Revision • Feb 01
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from US$0.60 to US$0.69. Revenue forecast steady at US$173.4m. Net income forecast to grow 83% next year vs 35% growth forecast for Healthcare Services industry in the United Kingdom. Consensus price target broadly unchanged at UK£29.29. Share price fell 13% to UK£19.50 over the past week. Announcement • Feb 01
Craneware plc to Report First Half, 2022 Results on Mar 14, 2022 Craneware plc announced that they will report first half, 2022 results on Mar 14, 2022 Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment deteriorated over the past week After last week's 16% share price decline to UK£19.00, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 38x in the Healthcare Services industry in Europe. Total loss to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£29.75 per share. Buying Opportunity • Jan 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 1.3%. The fair value is estimated to be US$29.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.7% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Upcoming Dividend • Nov 18
Upcoming dividend of UK£0.15 per share Eligible shareholders must have bought the stock before 25 November 2021. Payment date: 21 December 2021. Trailing yield: 1.1%. Lower than top quartile of British dividend payers (4.1%). Higher than average of industry peers (0.8%). Recent Insider Transactions • Sep 24
Co-Founder recently bought UK£50k worth of stock On the 22nd of September, Keith Neilson bought around 2k shares on-market at roughly UK£23.50 per share. This was the largest purchase by an insider in the last 3 months. This was Keith's only on-market trade for the last 12 months. Reported Earnings • Sep 22
Full year 2021 earnings released: EPS US$0.48 (vs US$0.63 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: US$75.6m (up 5.7% from FY 2020). Net income: US$12.9m (down 23% from FY 2020). Profit margin: 17% (down from 24% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Announcement • Jul 15
Craneware plc (AIM:CRW) completed the acquisition of Sentry Data Systems, Inc. from a group of shareholders. Craneware plc (AIM:CRW) entered into a conditional agreement to acquire Sentry Data Systems, Inc. from a group of shareholders for $400 million on June 7, 2021. The consideration will be paid on a cash free/debt free basis and consists of $312.5 million in cash and $87.5 million by the issue of shares in Craneware plc. The cash consideration will be funded from the existing cash resources of Craneware, a new debt facility of up to $140 million and the net proceeds of an equity placing announced on June 7, 2021. Craneware raised $193.5 million via share placing to fund the acquisition of Sentry Data Systems. The acquisition is subject to anti-trust clearance in the United States and certain other customary conditions. As per the article of July 13, 2021, the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 got expired. For the year ending December 31, 2020, Sentry generated revenue of $92 million and adjusted EBITDA of $23 million. The transaction is expected to close in early calendar quarter three of 2021. The deal is expected to close over the next month. The Acquisition is expected to be double-digit per cent. accretive to Craneware's underlying adjusted earnings per share ("EPS") in the financial year ending June 30, 2022, before any potential synergy benefits. Khamran Ali, Nick Harper, Tom Hartley and Tanguy Croguennoc of Goldman Sachs International acted as a financial advisor and Dan Webster, George Sellar, Andrew Clark and Will Bell of Peel Hunt acted as nominated advisor to Craneware. Goldman Sachs International, Peel Hunt LLP, Investec Bank PLC, Investec Europe Ltd and Joh Berenberg, Gossler & Co KG acted as joint bookrunners for the financing. Piper Sandler & Co. acted as financial advisor to ABRY. Joe Alexander, Daniel Rollman and William Bartow of DLA Piper LLP acted as legal advisor to ABRY.
Craneware plc (AIM:CRW) completed the acquisition of Sentry Data Systems, Inc. from a group of shareholders on June 13, 2021. Application has been made for the 2,507,348 consideration shares to be admitted to trading on AIM ("Admission"). Admission of the consideration shares is expected to occur on Wednesday July 14, 2021. Patrick Robb, Henry Reast and Sebastian Lawrence from Investec Bank PLC and Mark Whitmore, James White and Alix Mecklenburg-Solodkoff from Joh. Berenberg, Gossler & Co. KG served as a joint broker for Craneware plc. Caroline Forde, Hilary Buchanan, Robyn Fisher and Joe Pederzolli from Alma served as a financial public relations advisor for Craneware plc. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improved over the past week After last week's 16% share price gain to US$25.00, the stock trades at a forward P/E ratio of 56x. Average forward P/E is 41x in the Healthcare Services industry in Europe. Total returns to shareholders of 43% over the past three years. Upcoming Dividend • Mar 11
Upcoming Dividend of UK£0.12 Per Share Will be paid on the 15th of April to those who are registered shareholders by the 18th of March. The trailing yield of 1.1% is below the top quartile of British dividend payers (4.5%), but is in line with industry peers (1.0%). 
