Market Cap€199.5m

Last Close €42

IBU-tec is an international full-service provider in the field of thermal process engineering, predominantly treating inorganic materials. The acquisition of BNT has added complementary wet chemical processes for manufacturing tin-based products.

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Investment summary

Management’s stated expectation of a recovery in FY21 appears justified as sales jumped 40% year-on-year in H121 and the group returned to profit at EBITDA level. Management predicts further improvement in H221, supported by the launch of the group’s own battery materials for electric vehicles (EVs). Management expects demand for battery materials, together with coatings that extend the number of times glass bottles can be reused and service revenues from recycling battery materials to raise turnover to between €80m and €100m or more by 2025.

Content on IBU-tec
IBU-tec – Greentech to drive future growth
Industrials | Update | 1 September 2021
IBU-tec – Tapping into greentech trends
Industrials | Update | 8 April 2021
IBU-tec – Preparing for future after the coronavirus
Industrials | Update | 11 September 2020
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Share price graph
Price performance
Actual (4.1) (15.7) 66.1
Relative* (5.1) (16.4) 48.1
52-week high/low €55.6/€27.9
*% relative to local index
Key management
Ulrich Weitz CEO
Jörg Leinenbach CFO