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Avon Protection (AVON)

Last close As at 26/04/2024

1,137.00

▲ 22.00 (1.97%)

Market capitalisation

344m

Avon Protection designs, develops and manufactures products in the protection (70% of 2018 sales) and dairy (30%) sectors. Its major contracts are with national security organisations such as the US DoD. Over 70% of 2018 sales are from the US.

Latest Insights

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Industrials | QuickView

Avon Protection — Unmasking its growth potential

Industrials | Outlook

Avon Protection — Refocused Protection set to resume growth

Industrials | Update

Avon Protection — Sentiment needs restoring to access value

Industrials | Flash note

Avon Protection — Confirming the growth path
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Sector

Industrials

Balance Sheet

Forecast net debt (US$m)

27.1

Forecast gearing ratio (%)

13

Share Price Performance

Financials

Avon Protection’s capital markets day highlighted its continued focus on medium-term margin expansion (targeting operating margin of 14–16%), concentrating on its core business of respirators and head protection. The unwinding of the armour business, alongside the consolidation of Team Wendy (acquired in H220) should enable Avon to benefit from rising global defence spending. Its strong relationship with the US DoD, and organic growth opportunities with recurring revenue from necessary product replacements, should bolster its medium-term target for ROIC to exceed 17%, which would surpass the average of UK defence peers.

Research

Update

Avon Rubber — Reinvesting milk money in head protection

Flash note

Avon Rubber — Multi-year mask system agreement for NATO

Update

Avon Rubber — Focused on growth in critical personal protection

Update

Avon Rubber — Cream rises to the top

Update

Avon Rubber — Strong growth in resilient markets

Update

Avon Rubber — Further backlog development

Flash note

Avon Rubber — Multi-year body armour contract award

Flash note

Avon Rubber — Good progress in Q120

Update

Avon Rubber — More Protection enhances EPS

Update

Avon Rubber — Transformational year builds momentum

Update

Avon Rubber — Encouraging H219 momentum

Update

Avon Rubber — Purchase of 3M’s ballistic protection business

Update

Avon Rubber — Orders support H2 momentum into FY20

Flash note

Avon Rubber — Mask system export order secured

Flash note

Avon Rubber — Another successful mask campaign

Flash note

Avon Rubber — Protection of growth

Flash note

Avon Rubber — M69 aircrew mask systems success

Update

Avon Rubber — Continuing to deliver

Update

Avon Rubber — Delivering growth

Flash note

Avon Rubber — More M50s

research

Avivagen — Antibiotic-free alternative for animal feed

Outlook

Avon Rubber — Momentum builds behind new strategy

Flash note

Avon Rubber — Strategy continues to take shape

Update

Avon Rubber — Equipped for growth

Flash note

Industrials

aap Implantate — Preliminary FY17 sales in line with guidance

Update

Avon Rubber — Winning ways

Update

Avon Rubber — Strong start to the year

Flash note

Avon Rubber — Positive order progression

Update

Avon Rubber — A new chapter with a bright future

Update

Avon Rubber — Hitting the numbers

Update

Avon Rubber — New CEO marches on

Flash note

Avon Rubber — The management jigsaw is complete

Flash note

Avon Rubber — Update 15 February 2017

Flash note

Avon Rubber — Update 3 February 2017

Outlook

Avon Rubber — Update 18 November 2016

Flash note

Avon Rubber — Update 18 October 2016

Flash note

Avon Rubber — Update 12 September 2016

Update

Avon Rubber — Update 6 May 2016

Update

Avon Rubber — Update 26 January 2016

Outlook

Avon Rubber — Update 17 November 2015
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