Carclo profile image 02012019



Market Cap£26m

Last Close 34.7p

Carclo is a global provider of value-added engineering solutions for the medical, optical and aerospace industries. It specialises in fine tolerance, injection moulded plastic parts for healthcare and optical applications.

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Investment summary

Carclo’s H120 results show that the remaining businesses following the exit from Wipac in December provide a basis for a sustainable group going forward. The continuing businesses generated £56.1m revenues and £3.3m underlying EBIT. However, there remain significant challenges in reaching agreement on long-term funding with the lending bank and pension trustee. Our estimates will remain under review until these are resolved.

Y/E Mar
Revenue (£m)
PBT (£m)
EPS (fd) (p)
P/E (x)
P/CF (x)
2018A 146.2 15.8 9.1 6.80 5.1 4.0
2019A 144.9 14.0 6.4 7.01 5.0 6.1
2020E N/A N/A N/A N/A N/A N/A
2021E N/A N/A N/A N/A N/A N/A
Content on Carclo
Carclo – Stabilising the business
TMT | research Flash note | 21 January 2020
Carclo – Sale of Wipac completed
TMT | research Flash note | 2 January 2020
Carclo – Wipac woes overshadow CTP improvement
TMT | research Flash note | 15 November 2019
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Share price graph
Balance sheet
Forecast net debt (£m) N/A
Forecast gearing ratio (%) N/A
Price performance
Actual 8.78 89.88 433.85
Relative* 5.18 81.31 327.27
52-week high/low 37.2p/4.4p
*% relative to local index
Key management
Matt Durkin-Jones CFO
Nick Saunders Executive Chairman