Major Estimate Revision • Jun 23
Consensus estimates of losses per share improve by 43% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from UK£1.86b to UK£1.90b. EPS estimate increased from -UK£0.343 per share to -UK£0.195 per share. Chemicals industry in the United Kingdom expected to see average net income growth of 22% next year. Consensus price target up from UK£1.43 to UK£1.47. Share price fell 18% to UK£0.88 over the past week. Announcement • May 26
Synthomer plc, Annual General Meeting, Jun 22, 2026 Synthomer plc, Annual General Meeting, Jun 22, 2026. Location: the offices of the company, 10 greycoat place, sw1p 1sb, london United Kingdom Price Target Changed • May 19
Price target increased by 12% to UK£1.43 Up from UK£1.27, the current price target is an average from 7 analysts. New target price is 35% above last closing price of UK£1.05. Stock is up 2.9% over the past year. The company is forecast to post a net loss per share of UK£0.025 next year compared to a net loss per share of UK£0.92 last year. Major Estimate Revision • May 13
Consensus estimates of losses per share improve by 91% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from UK£1.82b to UK£1.92b. EPS estimate increased from -UK£0.292 per share to -UK£0.025 per share. Chemicals industry in the United Kingdom expected to see average net income growth of 48% next year. Consensus price target up from UK£1.27 to UK£1.32. Share price rose 16% to UK£1.02 over the past week. Reported Earnings • May 01
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: UK£0.92 loss per share (further deteriorated from UK£0.43 loss in FY 2024). Revenue: UK£1.74b (down 13% from FY 2024). Net loss: UK£150.2m (loss widened 115% from FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 167%. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 7.2% decline forecast for the Chemicals industry in the United Kingdom. Announcement • Apr 11
Synthomer plc to Report Fiscal Year 2025 Results on Apr 30, 2026 Synthomer plc announced that they will report fiscal year 2025 results at 8:00 AM, GMT Standard Time on Apr 30, 2026 New Risk • Feb 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 16% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (1.6% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risk Market cap is less than US$100m (UK£48.5m market cap, or US$66.2m). Announcement • Jan 29
Synthomer plc Provides Earnings Guidance for the Twelve Months to 31 December 2025 Synthomer plc provided earnings guidance for the twelve months to 31 December 2025. Company expect to report 2025 revenue of c.£1.74 billion (2024: £1.93bn), in line with market expectations. The continued focus on strong operational execution, together with expanded 'self-help' cost reduction programmes, have enabled to mitigate the impact of softer end-market demand since global tariff changes were announced at the start of Second Quarter and deliver resilient earnings and an increased EBITDA margin. Announcement • Dec 13
Synthomer PLC Announces Board and Committee Changes Synthomer PLC announced a number of changes to the Board. As previously announced, Ian Tyler and Roberto Gualdoni have now stepped down as independent Non-Executive Directors from the Synthomer Board as planned. Independent Non-Executive Director Janet Ashdown succeeds Ian as Senior Independent Director, and Independent Non-Executive Director Jonathan Silver, who has recent and relevant financial experience for the purposes of the UK Corporate Governance Code, succeeds Ian as Chair of the Audit Committee. Major Estimate Revision • Oct 24
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -UK£0.336 to -UK£0.377 per share. Revenue forecast unchanged at UK£1.82b. Chemicals industry in the United Kingdom expected to see average net income growth of 1.1% next year. Consensus price target down from UK£1.43 to UK£1.38. Share price was steady at UK£0.58 over the past week. Announcement • Oct 24
Synthomer plc Provides Earnings Guidance for the Year 2026 Synthomer plc provided earnings guidance for the year 2026. As company begin to look to 2026, company anticipate progress in Group earnings and cash generation as a result of full year contributions from self-help actions and product investments. Price Target Changed • Oct 09
Price target decreased by 8.9% to UK£1.43 Down from UK£1.57, the current price target is an average from 8 analysts. New target price is 113% above last closing price of UK£0.67. Stock is down 63% over the past year. The company is forecast to post a net loss per share of UK£0.34 next year compared to a net loss per share of UK£0.43 last year. Price Target Changed • Aug 18
Price target decreased by 8.5% to UK£1.54 Down from UK£1.68, the current price target is an average from 8 analysts. New target price is 135% above last closing price of UK£0.66. Stock is down 72% over the past year. The company is forecast to post a net loss per share of UK£0.31 next year compared to a net loss per share of UK£0.43 last year. Reported Earnings • Aug 07
First half 2025 earnings released: UK£0.22 loss per share (vs UK£0.18 loss in 1H 2024) First half 2025 results: UK£0.22 loss per share (further deteriorated from UK£0.18 loss in 1H 2024). Revenue: UK£925.2m (down 12% from 1H 2024). Net loss: UK£35.9m (loss widened 23% from 1H 2024). Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Chemicals industry in the United Kingdom. Price Target Changed • Aug 07
Price target decreased by 8.4% to UK£1.57 Down from UK£1.71, the current price target is an average from 8 analysts. New target price is 144% above last closing price of UK£0.64. Stock is down 73% over the past year. The company is forecast to post a net loss per share of UK£0.31 next year compared to a net loss per share of UK£0.43 last year. Major Estimate Revision • Aug 06
Consensus EPS estimates fall by 53% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from UK£1.98b to UK£1.88b. Losses expected to increase from UK£0.23 per share to UK£0.34. Chemicals industry in the United Kingdom expected to see average net income growth of 28% next year. Consensus price target down from UK£1.71 to UK£1.62. Share price fell 25% to UK£0.63 over the past week. Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Jonathan Silver was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 30
Synthomer plc Announces Board and Committee Changes Synthomer plc announced the appointment of two independent non-executive directors, Janet Ashdown and Jonathan Silver, who will join the Board on 1 July 2025. Janet Ashdown has significant experience of general management primarily in the process and chemicals industries, as well as environmental and sustainability matters, and has chaired corporate remuneration committees for more than 10 years. Janet had a 30-year executive career at BP plc until 2010, running the UK retail and commercial fuel business in her last role there. She then became chief executive of Harvest Energy, until 2013. Janet is currently a non-executive director and remuneration committee chair at Victrex plc, a non-executive director and chair of the remuneration and corporate sustainability committees at RHI Magnesita plc and a non-executive director of Stolt-Nielsen plc. She has previously served as a non-executive director and remuneration committee chair of Marshalls plc and SIG plc, and as senior independent director and chair of committees including for health, safety, security and sustainability of the Nuclear Decommissioning Authority, a UK Government arm's length body. Janet holds a BSc in Energy Engineering from the University of Swansea. Janet will join the Synthomer Board's audit, remuneration and nomination committees on appointment and will succeed Holly Van Deursen as Chair of the Remuneration Committee in late 2026. Jonathan Silver has significant international experience in finance and accounting, risk and controls, treasury, investment management and mergers and acquisitions, having served in a variety of senior roles culminating in chief financial officer during his 30-year executive career to 2015 at Laird plc. Prior to this Jonathan held finance roles at the pharmaceutical and agrichemicals group Fisons plc. Jonathan is currently non-executive director, senior independent director and audit committee chair at Spirent Communications plc. Jonathan also serves as a non-executive director and audit committee chair at Baillie Gifford China Growth Trust plc and at Henderson High Income Trust plc, and previously served in the same roles at Invesco Income Growth Trust plc. He is a Chartered Accountant and a member of the Institute of Chartered Accountants of Scotland. Jonathan holds a BA in Business from the University of Strathclyde. Jonathan will join the Synthomer Board's audit, remuneration and nomination committees on appointment and will succeed Ian Tyler as Chair of the Audit Committee later this year. Further to the announcement of 5 March 2025, Ian Tyler will step down from the Board of Synthomer and his roles as Senior Independent Non-executive Director and Audit Committee Chair in December 2025. Price Target Changed • Jun 19
Price target decreased by 7.6% to UK£1.71 Down from UK£1.85, the current price target is an average from 8 analysts. New target price is 57% above last closing price of UK£1.09. Stock is down 57% over the past year. The company is forecast to post a net loss per share of UK£0.22 next year compared to a net loss per share of UK£0.43 last year. Announcement • Jun 03
H2 Equity Partners Limited and the management of William Blythe Limited completed the acquisition of William Blythe Limited from Synthomer plc (LSE:SYNT). H2 Equity Partners Limited and the management of William Blythe Limited agreed to acquire William Blythe Limited from Synthomer plc (LSE:SYNT) for £30 million on May 6, 2025. A cash consideration of £30 million will be paid by H2 Equity Partners Limited and the management. As part of consideration, £30 million is paid towards common equity of William Blythe Limited. The existing leadership team of Kevin Hudson, Mike Butler and David Crossley will continue to the run William Blythe .
For the period ending December 31, 2024, William Blythe Limited reported total revenue of £54 million and EBITDA of £4 million.
The transaction is conditional on certain customary closing conditions, is expected to complete at the end of May 2025, and the net proceeds will be used to reduce Synthomer net debt. Squire Patton Boggs acted as legal advisors for H2 Equity Partners Limited. Management were supported by Addleshaw Goddard and Park Place.
H2 Equity Partners Limited and the management of William Blythe Limited completed the acquisition of William Blythe Limited from Synthomer plc (LSE:SYNT) on June 2, 2025. The final net cash proceeds of the divestment that were received at completion amount to £25 million after adjustments for working capital, debt and debt-like items, and will be used to reduce the Synthomer plc debt. Chris Carlisle, Daniel Barley of Opus Corporate Finance LLP act as financial advisor for Synthomer plc. Price Target Changed • May 07
Price target decreased by 8.7% to UK£1.72 Down from UK£1.89, the current price target is an average from 9 analysts. New target price is 97% above last closing price of UK£0.87. Stock is down 69% over the past year. The company is forecast to post a net loss per share of UK£0.21 next year compared to a net loss per share of UK£0.43 last year. Announcement • May 06
H2 Equity Partners Limited and the management of William Blythe Limited agreed to acquire William Blythe Limited from Synthomer plc (LSE:SYNT) for £30 million. H2 Equity Partners Limited and the management of William Blythe Limited agreed to acquire William Blythe Limited from Synthomer plc (LSE:SYNT) for £30 million on May 6, 2025. A cash consideration of £30 million will be paid by H2 Equity Partners Limited and the management. As part of consideration, £30 million is paid towards common equity of William Blythe Limited.
For the period ending December 31, 2024, William Blythe Limited reported total revenue of £54 million and EBITDA of £4 million.
The transaction is conditional on certain customary closing conditions, is expected to complete at the end of May 2025, and the net proceeds will be used to reduce Synthomer net debt. Price Target Changed • May 02
Price target decreased by 10% to UK£1.76 Down from UK£1.96, the current price target is an average from 9 analysts. New target price is 89% above last closing price of UK£0.93. Stock is down 67% over the past year. The company is forecast to post a net loss per share of UK£0.20 next year compared to a net loss per share of UK£0.43 last year. Announcement • May 01
Synthomer plc to Report First Half, 2025 Results on Aug 05, 2025 Synthomer plc announced that they will report first half, 2025 results on Aug 05, 2025 New Risk • Apr 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 9.9% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (9.9% average weekly change). Price Target Changed • Apr 03
Price target decreased by 8.6% to UK£1.96 Down from UK£2.14, the current price target is an average from 9 analysts. New target price is 98% above last closing price of UK£0.99. Stock is down 62% over the past year. The company is forecast to post a net loss per share of UK£0.17 next year compared to a net loss per share of UK£0.43 last year. Recent Insider Transactions • Mar 31
CEO & Executive Director recently bought UK£57k worth of stock On the 27th of March, Michael Willome bought around 47k shares on-market at roughly UK£1.21 per share. This transaction amounted to 26% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth UK£83k. Michael has been a buyer over the last 12 months, purchasing a net total of UK£140k worth in shares. Announcement • Mar 26
Synthomer plc, Annual General Meeting, May 01, 2025 Synthomer plc, Annual General Meeting, May 01, 2025. Location: the offices of the company, 45 pall mall, sw1y 5jg, london United Kingdom Recent Insider Transactions • Mar 19
CEO & Executive Director recently bought UK£83k worth of stock On the 14th of March, Michael Willome bought around 70k shares on-market at roughly UK£1.18 per share. This transaction amounted to 62% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Michael has been a buyer over the last 12 months, purchasing a net total of UK£195k worth in shares. Major Estimate Revision • Mar 18
Consensus EPS estimates upgraded to UK£0.19 loss The consensus outlook for fiscal year 2025 has been updated. 2025 losses forecast to reduce from -UK£0.21 to -UK£0.186 per share. Revenue forecast steady at UK£2.05b. Chemicals industry in the United Kingdom expected to see average net income growth of 28% next year. Consensus price target down from UK£2.35 to UK£2.14. Share price fell 11% to UK£1.23 over the past week. Price Target Changed • Mar 17
Price target decreased by 8.9% to UK£2.14 Down from UK£2.35, the current price target is an average from 10 analysts. New target price is 80% above last closing price of UK£1.19. Stock is down 48% over the past year. The company is forecast to post a net loss per share of UK£0.19 next year compared to a net loss per share of UK£0.43 last year. Reported Earnings • Mar 11
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: UK£0.43 loss per share (improved from UK£1.20 loss in FY 2023). Revenue: UK£1.99b (flat on FY 2023). Net loss: UK£70.0m (loss narrowed 32% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.0% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance. New Risk • Feb 06
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 7.3% 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. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (6.9% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (7.3% average weekly change). Announcement • Jan 28
Synthomer plc Provides Earnings Guidance for the Year Ended December 31, 2024 Synthomer plc provided earnings guidance for the year ended December 31, 2024. The company expects to report 2024 revenue of c. £2.0 billion (2023: £1,940.6 million) and EBITDA in the range of £145-148 million for the continuing Group (2023: £137.4m), in line with expectations. Continuing Group volume improved further in H2, albeit at a slower rate than in the first half, reflecting mixed end-market demand trends over the period. Within this, volume growth in Fourth Quarter improved relative to Q3, led by the nitrile latex for gloves business in the Health & Protection and Performance Materials (HPPM) division and construction markets within the Coatings & Construction Solutions (CCS) division. The Group also delivered a strong gross margin performance in Q4, reflecting good progress on multi-year cost-saving and reliability improvement programmes, as well as the ongoing strategic re-allocation of capital and other resources towards the higher margin, more resilient speciality solutions within portfolio. Price Target Changed • Jan 21
Price target decreased by 8.8% to UK£2.35 Down from UK£2.58, the current price target is an average from 10 analysts. New target price is 72% above last closing price of UK£1.37. Stock is up 2.5% over the past year. The company is forecast to post a net loss per share of UK£0.48 next year compared to a net loss per share of UK£1.20 last year. Announcement • Jan 02
Synthomer plc Announces Chair Succession Synthomer plc notes that, as previously announced, Caroline Johnstone stood down as a non-executive and chair of the company, with Peter Hill succeeding her as chair, on 1 January 2025. Major Estimate Revision • Nov 05
Consensus EPS estimates upgraded to UK£0.36 loss The consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -UK£0.453 to -UK£0.356 per share. Revenue forecast steady at UK£1.97b. Chemicals industry in the United Kingdom expected to see average net income growth of 49% next year. Consensus price target down from UK£2.79 to UK£2.64. Share price rose 6.3% to UK£1.82 over the past week. Major Estimate Revision • Nov 03
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -UK£0.453 to -UK£0.501 per share. Revenue forecast unchanged at UK£1.97b. Chemicals industry in the United Kingdom expected to see average net income growth of 50% next year. Consensus price target down from UK£2.79 to UK£2.67. Share price rose 5.7% to UK£1.86 over the past week. Announcement • Oct 31
Synthomer plc to Report Fiscal Year 2024 Results on Mar 11, 2025 Synthomer plc announced that they will report fiscal year 2024 results on Mar 11, 2025 Board Change • Oct 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Peter Hill was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Aug 20
Consensus EPS estimates fall by 199% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -UK£0.171 to -UK£0.512 per share. Revenue forecast unchanged at UK£1.99b. Chemicals industry in the United Kingdom expected to see average net income growth of 49% next year. Consensus price target down from UK£3.07 to UK£3.00. Share price was steady at UK£2.33 over the past week. Reported Earnings • Aug 15
First half 2024 earnings released: UK£0.18 loss per share (vs UK£2.08 loss in 1H 2023) First half 2024 results: UK£0.18 loss per share (improved from UK£2.08 loss in 1H 2023). Revenue: UK£1.05b (flat on 1H 2023). Net loss: UK£29.3m (loss narrowed 40% from 1H 2023). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 5.8% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 32 percentage points per year, which is a significant difference in performance. Announcement • Jul 18
Synthomer plc Announces Board Changes Synthomer plc announced the appointment of Peter Hill CBE as an independent non-executive director and chair designate with effect from 1 September 2024. Following an induction and handover period, Caroline Johnstone will stand down from the board, with Peter succeeding her as chair, on 1 January 2025. Peter brings to Synthomer strong public company governance and international manufacturing experience in a range of industries. Peter has served as non-executive chair of Keller Group plc since 2016, a role from which he will step down during the first half of 2025, having served approximately nine years. Previously Peter was non-executive chair of Petra Diamonds Limited (2020-2023), Volution Group plc (2014-2020), Imagination Technologies plc (February 2017 until its sale in September 2017) and the speciality chemicals company Alent plc (2012-2015). He is currently non-executive chair of The Nuclear Decommissioning Authority, a UK Government arm's length body sponsored by the Department for Energy Security and Net Zero. Peter has also served as a non-executive director on the boards of Cookson Group plc, Meggitt plc, Essentra plc and Oxford Instruments plc, and in similar roles for UK Trade and Investment and the Royal Air Force. He was chief executive officer of Laird plc from 2002 to late 2011, transforming it from an industrial conglomerate into a focused electronics and technology company. He previously held senior management roles at BTR plc and Invensys plc, and was an executive director on the board of Costain Group plc. Peter's early career was spent with natural resources companies Anglo American, Rio Tinto and BP Minerals. He holds a BSc in engineering, an MBA from the London The Honourable Alexander Catto has advised the board of his intention to step down as a director by the Group's next Annual General Meeting (AGM) in May 2025. As a non-independent, non-executive director of the Group, he has served as representative of its founding family and significant shareholders since 1981. More recently, he has served as the designated non-executive director leading workforce engagement. The Group announced the appointment of Uwe Halder to the board with effect from 1 September 2024. Uwe is chief executive officer of KLK OLEO Europe, part of the global oleochemical and manufacturing division of Kuala Lumpur Kepong Berhad (KLK), which is Synthomer's large shareholder (with 27% of the issued share capital). Uwe's entire career has been in the global chemicals industry. He has worked in the USA at BASF and as president of DyStar USA, and in Europe at CHT/BEZEMA and Archroma before joining a business acquired by KLK OLEO. As a nominee of KLK, Uwe will be a non-independent, non-executive director upon appointment. The changes announced reflect the board's long-term succession planning agenda which will continue to evolve to reflect the Group's strategy, skills and experience needs and compliance with Corporate Governance Code principles. Major Estimate Revision • Jun 27
Consensus EPS estimates upgraded to UK£0.17 loss The consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -UK£0.215 to -UK£0.171 per share. Revenue forecast steady at UK£1.99b. Chemicals industry in the United Kingdom expected to see average net income growth of 66% next year. Consensus price target broadly unchanged at UK£3.05. Share price was steady at UK£2.60 over the past week. Price Target Changed • May 25
Price target increased by 10% to UK£3.03 Up from UK£2.75, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of UK£3.06. Stock is down 84% over the past year. The company is forecast to post a net loss per share of UK£0.22 next year compared to a net loss per share of UK£1.20 last year. Major Estimate Revision • May 12
Consensus EPS estimates fall by 27% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from UK£2.03b to UK£1.99b. Losses expected to increase from UK£0.22 per share to UK£0.28. Chemicals industry in the United Kingdom expected to see average net income growth of 50% next year. Consensus price target up from UK£2.75 to UK£2.86. Share price was steady at UK£2.81 over the past week. Announcement • May 10
Synthomer plc to Report First Half, 2024 Results on Aug 13, 2024 Synthomer plc announced that they will report first half, 2024 results on Aug 13, 2024 Recent Insider Transactions • Mar 30
CEO & Executive Director recently bought UK£112k worth of stock On the 27th of March, Michael Willome bought around 47k shares on-market at roughly UK£2.38 per share. This transaction amounted to 75% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Michael has been a buyer over the last 12 months, purchasing a net total of UK£218k worth in shares. Major Estimate Revision • Mar 27
Consensus EPS estimates fall by 82% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from UK£2.10b to UK£2.01b. Losses expected to increase from UK£0.12 per share to UK£0.22. Chemicals industry in the United Kingdom expected to see average net income growth of 52% next year. Consensus price target up from UK£2.45 to UK£2.66. Share price rose 2.4% to UK£2.37 over the past week. Reported Earnings • Mar 13
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: UK£1.20 loss per share (further deteriorated from UK£1.09 loss in FY 2022). Revenue: UK£1.97b (down 17% from FY 2022). Net loss: UK£102.5m (loss widened 304% from FY 2022). Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) also missed analyst estimates by 133%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 3.9% decline forecast for the Chemicals industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 5 percentage points per year. New Risk • Mar 12
New major risk - Revenue and earnings growth Earnings have declined by 24% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.1x net interest cover). Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 24% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 5x increase in shares outstanding). Price Target Changed • Mar 07
Price target decreased by 16% to UK£6.48 Down from UK£7.70, the current price target is an average from 9 analysts. New target price is 356% above last closing price of UK£1.42. Stock is down 95% over the past year. The company is forecast to post a net loss per share of UK£0.34 next year compared to a net loss per share of UK£1.09 last year. Buy Or Sell Opportunity • Feb 12
Now 29% overvalued Over the last 90 days, the stock has fallen 30% to UK£1.48. The fair value is estimated to be UK£1.14, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 1.5% in 2 years. Earnings are forecast to grow by 97% in the next 2 years. Announcement • Jan 30
Synthomer plc Provides Earnings Guidance for the Year 2023 Synthomer plc provided earnings guidance for the year 2023. For the year, The company expects to report revenue of £2.0 billion in 2023. New Risk • Jan 21
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: UK£170k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.1x net interest cover). Shareholders have been substantially diluted in the past year (over 5x increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Significant insider selling over the past 3 months (UK£170k sold). Major Estimate Revision • Jan 17
Consensus EPS estimates upgraded to UK£1.57 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -UK£3.89 to -UK£1.57 per share. Revenue forecast steady at UK£2.17b. Chemicals industry in the United Kingdom expected to see average net income growth of 14% next year. Consensus price target down from UK£19.94 to UK£11.72. Share price fell 19% to UK£1.27 over the past week. Price Target Changed • Jan 12
Price target decreased by 15% to UK£17.02 Down from UK£20.14, the current price target is an average from 10 analysts. New target price is 1,020% above last closing price of UK£1.52. Stock is down 95% over the past year. The company is forecast to post a net loss per share of UK£2.97 next year compared to a net loss per share of UK£1.09 last year. Buying Opportunity • Jan 10
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 26%. The fair value is estimated to be UK£2.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 0.3% in a year. Earnings is forecast to grow by 85% in the next year. Announcement • Dec 07
Synthomer plc, Annual General Meeting, May 09, 2024 Synthomer plc, Annual General Meeting, May 09, 2024. Price Target Changed • Nov 17
Price target decreased by 23% to UK£20.14 Down from UK£26.20, the current price target is an average from 10 analysts. New target price is 982% above last closing price of UK£1.86. Stock is down 93% over the past year. The company is forecast to post a net loss per share of UK£3.89 next year compared to a net loss per share of UK£1.09 last year. Major Estimate Revision • Nov 16
Consensus EPS estimates upgraded to UK£6.14 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -UK£13.26 to -UK£6.14 per share. Revenue forecast unchanged from UK£2.19b at last update. Chemicals industry in the United Kingdom expected to see average net income growth of 10% next year. Consensus price target reaffirmed at UK£26.20. Share price fell 12% to UK£1.80 over the past week. Announcement • Nov 15
Synthomer plc to Report Fiscal Year 2023 Results on Mar 12, 2024 Synthomer plc announced that they will report fiscal year 2023 results on Mar 12, 2024 Recent Insider Transactions • Nov 06
Non-Executive Director recently bought UK£170k worth of stock On the 30th of October, Alexander Catto bought around 91k shares on-market at roughly UK£1.87 per share. This transaction increased Alexander's direct individual holding by 3x at the time of the trade. In the last 3 months, they made an even bigger purchase worth UK£774k. Insiders have collectively bought UK£1.4m more in shares than they have sold in the last 12 months. Price Target Changed • Nov 03
Price target increased by 14% to UK£26.20 Up from UK£22.94, the current price target is an average from 8 analysts. New target price is 1,160% above last closing price of UK£2.08. Stock is down 92% over the past year. The company is forecast to post a net loss per share of UK£13.26 next year compared to a net loss per share of UK£1.09 last year. Price Target Changed • Oct 31
Price target increased by 16% to UK£26.60 Up from UK£22.94, the current price target is an average from 6 analysts. New target price is 1,304% above last closing price of UK£1.90. Stock is down 92% over the past year. The company is forecast to post a net loss per share of UK£13.26 next year compared to a net loss per share of UK£1.09 last year. Recent Insider Transactions • Oct 19
Non-Executive Director recently bought UK£774k worth of stock On the 13th of October, Alexander Catto bought around 393k shares on-market at roughly UK£1.97 per share. This transaction amounted to 34% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought UK£1.4m more in shares than they have sold in the last 12 months. Major Estimate Revision • Oct 18
Consensus EPS estimates fall by 684% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -UK£1.88 to -UK£14.70 per share. Revenue forecast unchanged at UK£2.20b. Chemicals industry in the United Kingdom expected to see average net income growth of 4.4% next year. Consensus price target broadly unchanged at UK£22.94. Share price fell 9.5% to UK£1.91 over the past week. New Risk • Oct 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 5x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.1x net interest cover). Share price has been highly volatile over the past 3 months (21% average weekly change). Shareholders have been substantially diluted in the past year (over 5x increase in shares outstanding). Announcement • Oct 14
Synthomer plc has completed a Follow-on Equity Offering in the amount of £276.195611 million. Synthomer plc has completed a Follow-on Equity Offering in the amount of £276.195611 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 140,200,818
Price\Range: £1.97
Discount Per Security: £0.0522
Transaction Features: Regulation S; Rights Offering; Rule 144A Major Estimate Revision • Sep 27
Consensus EPS estimates upgraded to UK£1.88 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -UK£2.68 to -UK£1.88 per share. Revenue forecast unchanged from UK£2.21b at last update. Chemicals industry in the United Kingdom expected to see average net income growth of 8.4% next year. Consensus price target up from UK£24.40 to UK£25.30. Share price fell 13% to UK£7.49 over the past week. 
