Genuit Group


Market Cap£1506.4m

Last Close 607p

Genuit is a leading supplier of largely plastic building products and systems. Operations in the UK (c 90% of revenue) address a broad range of sectors including residential, commercial and civil building demand and a number of subsectors within them.

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Investment summary

A trading update (16 November) covering the 10 months to October included revenue like-for-like growth of 10.8% for the latest four-month period and 31.1% higher on an actual, reported basis including acquisition effects (three in-year including Adey and one prior year). Genuit is seeing robust demand in its residential RMI/newbuild and infrastructure sub-segments and is passing on widely flagged industry cost pressures through price increases, albeit with a lag. Management confirmed that FY21 results are expected to be within the existing analyst range of estimates.

Y/E Dec
Revenue (£m)
PBT (£m)
EPS (p)
P/E (x)
P/CF (x)
2019A 447.6 99.1 70.8 29.2 20.8 13.5
2020A 398.6 63.4 35.7 13.3 45.6 21.5
2021E 593.0 118.8 86.7 28.6 21.2 14.9
2022E 604.3 128.3 94.3 31.1 19.5 12.4
Industry outlook

The Construction Products Association projections include a strong post COVID rebound in 2021 followed by 4.8% in 2022.

Last updated on 18/01/2022
Content on Genuit Group
Genuit Group – Outlook maintained
Industrials | Update | 2 December 2021
Polypipe – Acquisitions feed into FY21 earnings recovery
Industrials | Update | 26 February 2021
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Share price graph
Balance sheet
Forecast net debt (£m) 142
Forecast gearing ratio (%) 23
Price performance
Actual 3.8 (13.0) 15.6
Relative* 0.6 (16.2) 3.0
52-week high/low 801.0p/499.0p
*% relative to local index
Key management
Martin Payne CEO
Paul James CFO