Blancco Technology Group

LN: BLTG

£60.6m market cap

91p last close

Blancco Technology Group develops and sells data erasure and mobile diagnostics software. It is headquartered in the US and has sales offices in 15 countries around the world.

Investment summary

Blancco reported FY18 results marginally ahead of its recent trading update; despite the focus on stabilising the business and improving internal controls, profitability was maintained over the year. The new management team’s focus on three key markets (Mobile, Enterprise and IT Asset Disposition (ITAD)) and targeted investment in R&D should help the company maintain its market leadership and lead to a reacceleration of revenue growth.

Y/E Jun
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (p)
P/E (x)
P/CF (x)
2017A 26.9 5.0 2.9 2.65 35.1 N/A
2018A 27.5 5.9 3.1 4.61 20.2 N/A
2019E 30.1 5.8 2.4 2.38 39.1 N/A
2020E 33.2 7.0 3.2 3.33 27.9 N/A
Sector
TMT
Share price graph
Balance sheet
Forecast net debt (£m) 3.7
Forecast gearing ratio (%) 7
Price performance
%
1m
3m
12m
Actual (14.7) (12.7) 27.4
Relative* (18.6) (11.4) 36.1
52-week high/low 110.5p/62.5p
*% relative to local index
Key management
Adam Moloney CFO
Jog Dhody CFO