Board Change • May 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-executive Director Simon Pryce 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. Duyuru • Apr 10
Smiths Group plc to Report Fiscal Year 2026 Results on Sep 22, 2026 Smiths Group plc announced that they will report fiscal year 2026 results on Sep 22, 2026 Duyuru • Apr 01
Molex Electronic Technologies, LLC completed the acquisition of Smiths Interconnect Group Limited from Smiths Group plc (LSE:SMIN). Molex Electronic Technologies, LLC entered into a binding share purchase agreement to acquire Smiths Interconnect Group Limited from Smiths Group plc (LSE:SMIN) for an enterprise value of £1.3 billion on December 11, 2025. The Transaction values Smiths Interconnect at an enterprise value of £1.3 billion, representing 15.1x headline EBITDA of £86.1 million for the fiscal year 2025. Smiths will receive cash consideration for the Transaction which is subject to customary adjustments for working capital, cash and debt.
The transaction is subject to regulatory approvals and other customary closing conditions. The acquisition is expected to close in the first half of 2026.
Rothschild & Co US Inc. act as financial advisor, Julian Runnicles of Jones Day act as legal advisor for Molex Electronic Technologies, LLC. Mark Sorrell, Charlie Lytle, Nick Harper, Harry Webster of Goldman Sachs International, Richard Perelman, Alex Bruce, Saumitra Gorani of J.P. Morgan Securities plc act as financial advisor, White & Case LLP act as legal advisor for Smiths Group plc. Kathryn A. Kelly and Eric B. Sloan of Gibson, Dunn & Crutcher LLP acted as legal counsel to Molex Electronic Technologies, LLC.
Molex Electronic Technologies, LLC completed the acquisition of Smiths Interconnect Group Limited from Smiths Group plc (LSE:SMIN) on April 1, 2026. The transaction provides immediate cash proceeds of approximately £1.3bn for Smiths Interconnect. As confirmed with the Company's half year results, Smiths is fulfilling its commitment to return £1bn of the cash proceeds to shareholders, in the form of a share buyback programme which is currently underway. The balance of the cash proceeds will be used to invest in value creative growth opportunities for Smiths, and to further reinforce its strong balance sheet. Duyuru • Mar 23
Smiths Group plc Recommends Interim Dividend for Six Months Ended January 31, 2026, Payable on May 13, 2026 Smiths Group plc announced Board is recommending an interim dividend of 15.00 pence, a year-on-year increase of +5.4% for six months ended January 31, 2026. The interim dividend will be paid on 13 May 2026 to shareholders on the register at close of business on 7 April 2026. Interim Ex-Dividend Date is April 2, 2026. Duyuru • Mar 04
Smiths Group plc (LSE:SMIN) agreed to acquire DRC Heat Transfer for approximately £160 million. Smiths Group plc (LSE:SMIN) agreed to acquire DRC Heat Transfer for approximately £160 million on March 3, 2026. A cash consideration of £164 million will be paid by Smiths Group plc. As part of consideration, £164 million is paid towards common equity of DRC Heat Transfer.
The transaction reflects TEV/EBITDA multiple of 10x. For the period ending December 31, 2025, DRC Heat Transfer reported total revenue of £73 million.
The transaction is subject to customary approvals. The expected completion of the transaction is in the second half of fiscal year 2026. Duyuru • Jan 16
Smiths Group plc to Report First Half, 2026 Results on Mar 20, 2026 Smiths Group plc announced that they will report first half, 2026 results on Mar 20, 2026 Duyuru • Dec 12
Smiths Detection’s SDX 100100 DV HC Added to TSA Air Cargo Screening Technology List Smiths Detection announced that its SDX 100100 DV HC X-ray scanner has been added to the Transportation Security Administration's Air Cargo Screening Technology List (ACSTL), enabling its use by regulated operators across the US air cargo sector. The dual-view system is designed to meet the highest air cargo screening standards required by the TSA for inclusion on the ACSTL. Qualification requires compliance with some of the most stringent performance and security criteria in the industry, ensuring that only advanced, reliable and operationally effective systems are approved to help safeguard the global air cargo supply chain. The SDX 100100 DV HC uses two 160 kV X-ray generators to produce horizontal and vertical views of each item simultaneously. This configuration supports fast and effective inspection of tightly packed objects in a single pass, helps speed up the screening process, and provides strong steel penetration and high-quality images to support detection performance and operational efficiency. The design also improves access to the generators for maintenance and servicing. Duyuru • Dec 03
CVC Capital Partners Fund IX managed by CVC Capital Partners plc (ENXTAM:CVC) entered into an agreement to acquire Smiths Detection Group Ltd. from Smiths Group plc (LSE:SMIN) for £2 billion. CVC Capital Partners Fund IX managed by CVC Capital Partners plc (ENXTAM:CVC) entered into an agreement to acquire Smiths Detection Group Ltd. from Smiths Group plc (LSE:SMIN) for £2 billion on December 3, 2025. The purchase price is subject to customary adjustments and is is stated on a debt free and cash free basis.
In the financial year ended 31 July 2025, Smiths Detection generated revenue of £963 million, headline EBITDA of £160 million, headline operating profit of £96 million, net income of £48 million, had total assets of £1,650 million and net assets of £1,088 million.
The transaction is subject to customary regulatory approvals and completion of information and consultation processes with the works council of Smiths Detection France SAS and it is expected to close in the second half of 2026. It is intended that a large portion of the net cash proceeds from the proposed transaction will be returned to shareholders and that any remaining net cash proceeds will be used to invest in organic and inorganic growth for the streamlined Smiths. It has engaged with the trustees of the Smiths Industries Pension Scheme and the TI Group Pension Scheme to discuss the use of net cash proceeds of the strategic transactions and it does not currently anticipate any requirement to allocate any net cash proceeds of sale to either the Smiths Industries Pension Scheme or the TI Group Pension Scheme.
Barclays Bank PLC acted as financial advisor and Latham & Watkins (London) LLP acted as legal counsel to CVC. Freshfields LLP acted as legal advisor and Mark Sorrell, Charlie Lytle, Nick Harper and Harry Webster of Goldman Sachs International and Richard Perelman, Alex Bruce, Charles Oakes and Mayank Chaturvedi of J.P. Morgan Securities plc acted as financial advisors to Smiths. Duyuru • Nov 20
Smiths Group plc Reaffirms Revenue Guidance for the Fiscal Year 2026 Smiths Group plc reaffirmed revenue guidance for the fiscal year 2026. As a result of this performance and supported by order book, the company is reaffirming fiscal year 2026 guidance on a continuing operations basis of full-year organic revenue growth of 4%-6%, with continuing margin expansion, supported by the on-track delivery of the Acceleration Plan. Duyuru • Nov 19
Smiths Group plc (LSE:SMIN) announces an Equity Buyback for £1,000 million worth of its shares. Smiths Group plc (LSE:SMIN) announces a share repurchase program. Under the program, the company will repurchase up to £1,000 million worth of its shares. The purpose of the program is commitment to return a large portion of disposal and deliver attractive shareholder returns.. The program is valid till end of calendar year 2026 Duyuru • Oct 17
Molex Electronic Technologies, LLC entered into a binding share purchase agreement to acquire Smiths Interconnect Group Limited from Smiths Group plc (LSE:SMIN) for an enterprise value of £1.3 billion. Molex Electronic Technologies, LLC entered into a binding share purchase agreement to acquire Smiths Interconnect Group Limited from Smiths Group plc (LSE:SMIN) for an enterprise value of £1.3 billion on December 11, 2025. The Transaction values Smiths Interconnect at an enterprise value of £1.3 billion, representing 15.1x headline EBITDA of £86.1 million for the fiscal year 2025. Smiths will receive cash consideration for the Transaction which is subject to customary adjustments for working capital, cash and debt.
The transaction is subject to regulatory approvals and other customary closing conditions. The acquisition is expected to close in the first half of 2026.
Rothschild & Co US Inc. act as financial advisor, Julian Runnicles of Jones Day act as legal advisor for Molex Electronic Technologies, LLC. Mark Sorrell, Charlie Lytle, Nick Harper, Harry Webster of Goldman Sachs International, Richard Perelman, Alex Bruce, Saumitra Gorani of J.P. Morgan Securities plc act as financial advisor, White & Case LLP act as legal advisor for Smiths Group plc. Duyuru • May 21
Smiths Group plc Provides Earnings Guidance for the Full Year 2025 Smiths Group plc provided earnings guidance for the full year 2025. For the year, the company now expects to be towards the top end of its 6% to 8% organic revenue growth guidance range. Duyuru • Mar 26
Smiths Group plc Declares Interim Dividend, Payable on 14 May 2025 The Board of Smiths Group plc is declaring an interim dividend of 14.23 pence, a year-on-year increase of +5.0% (HY2024: 13.55 pence). The interim dividend will be paid on 14 May 2025 to shareholders on the register at close of business on 4 April 2025. Duyuru • Mar 25
Smiths Group plc (LSE:SMIN) acquired Duc-Pac Corporation for $40.5 million. Smiths Group plc (LSE:SMIN) acquired Duc-Pac Corporation for $40.5 million on March 25, 2025.
Smiths Group plc (LSE:SMIN) completed the acquisition of Duc-Pac Corporation on March 25, 2025. Duyuru • Jan 18
Engine Capital Issues a Letter to Smiths Group On January 17, 2025, Engine Capital announced that it has issues a letter to Smiths Group and urged the Company's Board of Directors to publicly commit to a strategic alternatives process aimed at a sale to maximize value for shareholders which includes : 1) the Company has persistently traded at a 'conglomerate discount' to its sum of the parts and its segment-level peers despite strong financials and operating performance, 2) believes a sale of the entire Company or its four businesses could deliver a significant premium to the Company' current share price, 3) cautions the board and new CEO Roland carter against pursuing material acquisitions while maintaining its conglomerate structure. Duyuru • Jan 15
Smiths Group plc Revises Organic Revenue Guidance for the Fiscal Year 2025 Smiths Group plc revised organic revenue guidance for the fiscal year 2025. For the year, the company revised organic revenue growth within the medium-term target range of 6%-8%, from the previously increased 5%-7% guidance, and above the medium-term organic revenue growth target. Duyuru • Jan 07
Smiths Group plc Appoints Simon Pryce as an Independent Non-Executive Director, with Effect from 1 February 2025 Smiths Group plc announced the appointment of Simon Pryce as an independent Non-executive Director, with effect from 1 February 2025. On joining the Board, Simon will become a member of the Audit & Risk Committee. Biographic details are set out below. Simon Pryce is the Chief Executive of RS Group plc ("RS Group"), a FTSE listed, digitally enabled, global distributor of product and service solutions for process industry maintenance, repair and operation's needs. He was appointed to the role in April 2023. Prior to that, he was Chief Executive of Ultra Electronics Holdings plc between 2018 and 2022 and Chief Executive of BBA Aviation plc between 2007 and 2018. He was a non-executive Director of RS Group from 2016 and Remuneration Committee Chairman from 2020 until his appointment as CEO. Simon is a chartered accountant by training and prior to 2007 had a background in banking, finance and operational leadership in global engineering businesses. Duyuru • Dec 20
Smiths Group plc to Report Fiscal Year 2025 Results on Sep 23, 2025 Smiths Group plc announced that they will report fiscal year 2025 results on Sep 23, 2025 Duyuru • Nov 13
Smiths Group plc to Report First Half, 2025 Results on Mar 25, 2025 Smiths Group plc announced that they will report first half, 2025 results on Mar 25, 2025 Upcoming Dividend • Oct 10
Upcoming dividend of UK£0.30 per share Eligible shareholders must have bought the stock before 17 October 2024. Payment date: 22 November 2024. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (2.5%). Declared Dividend • Sep 26
Final dividend of UK£0.30 announced Shareholders will receive a dividend of UK£0.30. Ex-date: 17th October 2024 Payment date: 22nd November 2024 Dividend yield will be 2.2%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (61% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 61% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Sep 25
Smiths Group plc (LSE:SMIN) agreed to acquire Modular Metal Fabricators, Inc. Smiths Group plc (LSE:SMIN) agreed to acquire Modular Metal Fabricators, Inc. on September 24, 2024. A cash consideration will be paid by Smiths Group plc. In a related party transaction, Smiths Group plc agreed to acquire Wattco, Inc. for a combined purchase price of up to £110 million. The expected completion of the transaction is October 1, 2024. Reported Earnings • Sep 24
Full year 2024 earnings released: EPS: UK£0.72 (vs UK£0.64 in FY 2023) Full year 2024 results: EPS: UK£0.72 (up from UK£0.64 in FY 2023). Revenue: UK£3.13b (up 3.1% from FY 2023). Net income: UK£250.0m (up 11% from FY 2023). Profit margin: 8.0% (up from 7.4% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Industrials industry in Europe. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. 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 Alister Cowan 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. Duyuru • Jun 05
Smiths Group plc Appoints Alister Cowan as Independent Non-Executive Director and Member of the Audit & Risk Committee, Effect from 1 July 2024 Smiths Group plc announced that, aspart of its orderly succession planning activities, Alister Cowan will join the Board of Smiths as an independent non-executive Director with effect from 1 July 2024. On joining the Board Alister will become a member of the Audit & Risk Committee. Biographic details are set out below. Alister Cowan was previously Chief Financial Officer of the Suncor Energy Inc. the US and Canadian listed integrated energy company from 2014 to 2023. Prior to joining Suncor, Alister served as Chief Financial Officer of Husky Energy Inc. from 2008 to 2014. Before joining Husky Energy, he held various positions with companies throughout Europe, New Zealand, and Canada. He is an independent non-executive Director at The Chemours Co., a US listed chemicals company where he serves as a member of the Audit and Environmental, Health, and Safety & Operational Performance Committees. A dual Canadian and UK citizen, Alister is a graduate of Heriot-Watt University in the UK and a member of the Institute of Chartered Accountants of Scotland having qualified whilst at KPMG. Declared Dividend • Mar 28
First half dividend of UK£0.14 announced Shareholders will receive a dividend of UK£0.14. Ex-date: 4th April 2024 Payment date: 13th May 2024 Dividend yield will be 2.4%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (63% earnings payout ratio) and cash flows (52% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 62% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 26
First half 2024 earnings released: EPS: UK£0.32 (vs UK£0.29 in 1H 2023) First half 2024 results: EPS: UK£0.32 (up from UK£0.29 in 1H 2023). Revenue: UK£1.51b (flat on 1H 2023). Net income: UK£111.0m (up 7.8% from 1H 2023). Profit margin: 7.4% (up from 6.9% in 1H 2023). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Industrials industry in Europe. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 29
Smiths Group plc Announces Directorate Changes Smiths Group plc as previously communicated, as part of orderly succession planning, Bill Seeger will retire from the Board of Smiths on 31 May 2024 at which point Mark Seligman will take over as the Senior Independent Director. In anticipation of Bill Seeger's retirement, he resigned as Smiths nominated Director on the Board of ICU Medical Inc. with effect from 28 February 2024. Duyuru • Jan 24
Smiths Group plc Announces Directors' Change in Responsibilities Smiths Group plc announced Nomination & Governance Committee, the Board has agreed a number of changes to the Board's Committee structure and the Committees' memberships. The changes will take effect from 1 February 2024 such that from that date the Committee structure and the Committee memberships: Science, Sustainability & Excellence Committee: Dame Ann Dowling - Chair; Pam Cheng, Karin Hoeing and Noel Tata as members. Audit & Risk Committee: Richard Howes (Chair); Bill Seeger and Mark Seligman. Nomination & Governance Committee: Steve Williams (Chair); Karin Hoeing, Richard Howes, Mark Seligman and Noel Tata as members. Remuneration & People Committee: Karin Hoeing (Chair), Pam Cheng, Dame Ann Dowling and Steve Williams as members. Buying Opportunity • Nov 18
Now 21% undervalued Over the last 90 days, the stock is up 2.4%. The fair value is estimated to be €23.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 7.8%. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings is also forecast to grow by 13% per annum over the same time period. Duyuru • Nov 17
Smiths Group plc Approves Final Dividend Smiths Group plc at its AGM held on 16 November 2023 approved to Declare a final dividend of 28.7 pence per share. Duyuru • Nov 10
Smiths Group plc to Report Fiscal Year 2024 Results on Sep 24, 2024 Smiths Group plc announced that they will report fiscal year 2024 results on Sep 24, 2024 Reported Earnings • Sep 27
Full year 2023 earnings released: EPS: UK£0.64 (vs UK£0.028 in FY 2022) Full year 2023 results: EPS: UK£0.64 (up from UK£0.028 in FY 2022). Revenue: UK£3.04b (up 18% from FY 2022). Net income: UK£225.0m (up UK£214.0m from FY 2022). Profit margin: 7.4% (up from 0.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Industrials industry in Europe. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 7% per year. Duyuru • Aug 31
Smiths Group plc (LSE:SMIN) acquired Heating & Cooling Products, Inc. for $82 million. Smiths Group plc (LSE:SMIN) acquired Heating & Cooling Products, Inc. for $82 million on August 30, 2023. The deal value is on a cash and debt-free basis. HCP will be integrated into Smith's Flex-Tek division.HCP's unaudited revenue for the 12 months to 31 July 2023 was $69 million. HCP was purchased from a private seller in a proprietary transaction for less than 7x estimated 2023 EBITDA.Smiths Group plc (LSE:SMIN) completed the acquisition of Heating & Cooling Products, Inc. on August 30, 2023. Buying Opportunity • Aug 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 4.4%. The fair value is estimated to be €23.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Duyuru • May 19
Smiths Group plc Raises Revenue Guidance for the Full Year 2023 Smiths Group plc raised revenue guidance for the full year 2023. The company is raising full year 2023 guidance to around 10% organic revenue growth with moderate margin improvement. Upcoming Dividend • Mar 30
Upcoming dividend of UK£0.13 per share at 2.4% yield Eligible shareholders must have bought the stock before 06 April 2023. Payment date: 17 May 2023. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.9%). Reported Earnings • Mar 25
First half 2023 earnings released: EPS: UK£0.29 (vs UK£0.29 in 1H 2022) First half 2023 results: EPS: UK£0.29 (down from UK£0.29 in 1H 2022). Revenue: UK£1.50b (up 26% from 1H 2022). Net income: UK£103.0m (down 10% from 1H 2022). Profit margin: 6.9% (down from 9.6% in 1H 2022). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Industrials industry in Europe. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Richard Howes was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buying Opportunity • Nov 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 1.7%. The fair value is estimated to be €22.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 9.3%. For the next 3 years, revenue is forecast to grow by 4.6% per annum. Earnings is also forecast to grow by 33% per annum over the same time period. Board Change • Nov 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 Richard Howes was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Oct 14
Smiths Group plc to Report First Half, 2023 Results on Mar 24, 2023 Smiths Group plc announced that they will report first half, 2023 results on Mar 24, 2023 Upcoming Dividend • Oct 13
Upcoming dividend of UK£0.27 per share Eligible shareholders must have bought the stock before 20 October 2022. Payment date: 18 November 2022. The company is paying out more than 100% of its profits and is paying out 79% of its cash flow. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (5.4%). Lower than average of industry peers (3.9%). Board Change • Oct 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Richard Howes was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 24
Full year 2022 earnings released: EPS: UK£0.028 (vs UK£0.39 in FY 2021) Full year 2022 results: EPS: UK£0.028 (down from UK£0.39 in FY 2021). Revenue: UK£2.57b (up 6.7% from FY 2021). Net income: UK£11.0m (down 93% from FY 2021). Profit margin: 0.4% (down from 6.5% in FY 2021). Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Industrials industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Buying Opportunity • Jun 11
Now 21% undervalued Over the last 90 days, the stock is up 6.2%. The fair value is estimated to be €22.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 11% in 2 years. Earnings is forecast to grow by 5.9% in the next 2 years. Upcoming Dividend • Mar 31
Upcoming dividend of UK£0.12 per share Eligible shareholders must have bought the stock before 07 April 2022. Payment date: 13 May 2022. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (3.7%). Lower than average of industry peers (3.1%). Buying Opportunity • Mar 31
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.9%. The fair value is estimated to be €21.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 9.8% in 2 years. Earnings is forecast to grow by 3.9% in the next 2 years. Buying Opportunity • Feb 15
Now 21% undervalued Over the last 90 days, the stock is up 1.1%. The fair value is estimated to be UK£22.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.3% per annum over the last 3 years. Earnings per share has grown by 2.6% per annum over the last 3 years. Buying Opportunity • Jan 25
Now 21% undervalued Over the last 90 days, the stock is up 10%. The fair value is estimated to be UK£22.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.3% per annum over the last 3 years. Earnings per share has grown by 2.6% per annum over the last 3 years. Board Change • Oct 31
High number of new directors CEO & Executive Director Paul Keel was the last director to join the board, commencing their role in 2021. Upcoming Dividend • Oct 14
Upcoming dividend of UK£0.26 per share Eligible shareholders must have bought the stock before 21 October 2021. Payment date: 19 November 2021. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (3.3%). In line with average of industry peers (2.5%). Recent Insider Transactions • Oct 06
CFO & Director recently bought €116k worth of stock On the 4th of October, John Shipsey bought around 7k shares on-market at roughly €16.88 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, John has been a net seller over the last 12 months, reducing personal holdings by €67k. Reported Earnings • Sep 29
Full year 2021 earnings released: EPS UK£0.39 (vs UK£0.16 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: UK£2.41b (down 5.6% from FY 2020). Net income: UK£156.0m (up 140% from FY 2020). Profit margin: 6.5% (up from 2.6% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 1% per year. Executive Departure • Jun 02
Chief Executive & Executive Director has left the company On the 25th of May, Andrew Smith's tenure as Chief Executive & Executive Director ended after 5.7 years in the role. As of March 2021, Andrew personally held 340.73k shares (€6.2m worth at the time). A total of 3 executives have left over the last 12 months. Upcoming Dividend • Apr 01
Upcoming dividend of UK£0.12 per share Eligible shareholders must have bought the stock before 08 April 2021. Payment date: 14 May 2021. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (3.3%). In line with average of industry peers (2.5%). Reported Earnings • Mar 27
First half 2021 earnings released: EPS UK£0.053 (vs UK£0.028 in 1H 2020) The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: UK£1.15b (down 7.3% from 1H 2020). Net income: UK£21.0m (up 91% from 1H 2020). Profit margin: 1.8% (up from 0.9% in 1H 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 25
New 90-day high: €17.50 The company is up 8.0% from its price of €16.23 on 27 November 2020. The German market is also up 8.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Industrials industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €15.57 per share. Is New 90 Day High Low • Nov 11
New 90-day high: €17.14 The company is up 5.0% from its price of €16.32 on 12 August 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Industrials industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.49 per share. Analyst Estimate Surprise Post Earnings • Oct 16
Annual earnings released: Revenue misses expectations Annual revenue missed analyst estimates by 0.6% at UK£2.55b. Revenue is expected to shrink by 3.6% over the next year, compared to a 24% decline forecast for the Industrials industry in Germany. Reported Earnings • Oct 16
Full year earnings released - EPS €0.16 Over the last 12 months the company has reported total profits of UK£65.0m, down 54% from the prior year. Total revenue was UK£2.55b over the last 12 months, up 2.0% from the prior year. Profit margins were 2.6%, which is lower than the 5.6% margin from last year. The decrease in margin was driven by higher expenses. Is New 90 Day High Low • Sep 28
New 90-day low: €14.02 The company is down 8.0% from its price of €15.28 on 30 June 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Industrials industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.18 per share. Reported Earnings • Sep 26
Full year earnings released - EPS €0.16 Over the last 12 months the company has reported total profits of UK£65.0m, down 54% from the prior year. Total revenue was UK£2.55b over the last 12 months, up 2.0% from the prior year. Profit margins were 2.6%, which is lower than the 5.6% margin from last year. The decrease in margin was driven by higher expenses.