Eddie Stobart Logistics

LN: ESL

£269.3m market cap

71p last close

Eddie Stobart Logistics is a market leader in end-to-end, multi-modal transport and logistics. Operations are primarily focused in the UK, with some activities in mainland Europe. Key customer segments include retail, consumer, industrials and increasingly, e-commerce.

Investment summary

On 18 October Eddie Stobart announced it has granted due diligence access to Wincanton to assess the potential merits of a combination. On 9 September, Eddie Stobart’s board of directors confirmed that it had received a preliminary expression of interest from DBAY Advisors in relation to a possible offer for the entire issued, and to be issued, share capital of the company. TVFB has confirmed that it has no intention of making an offer for the company, although it submitted a proposal to participate in a refinancing of Eddie Stobart through an equity participation.

Y/E Nov
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (p)
P/E (x)
P/CF (x)
2017A 623.9 55.3 37.8 9.8 7.2 7.7
2018A 843.1 62.9 49.2 11.3 6.3 32.6
2019E N/A N/A N/A N/A N/A N/A
2020E N/A N/A N/A N/A N/A N/A
Industry outlook

For the purposes of the Takeover Code, Edison Investment Research is deemed to be connected with Eddie Stobart Logistics. Under Rule 20.1 Edison must not include any profit forecast, quantified financial benefits statement, asset valuation or estimate of other figures key to the offer, except to the extent that such forecasts, statements, valuations or estimates have been published prior to the offer period (as defined in the Takeover Code) by an offeror or the offeree company (as appropriate) in accordance with the requirements of the Code. Consequently, we have removed our estimates until the offer period ends.

Last updated on 22/08/2019
Sector
Industrials
Share price graph
Balance sheet
Forecast net debt (£m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (9.0) (17.9) (46.8)
Relative* (4.6) (15.8) (43.4)
52-week high/low 135.0p/67.5p
*% relative to local index
Key management
Alex Laffey CEO
Anoop Kang CFO