IBU-tec

DB: IBU

€61.2m market cap

€15.3 last close

IBU-tec is an international full service provider in the field of thermal process engineering, predominantly treating inorganic materials. Its services help clients create enhanced performance materials, reduce energy consumption and use input materials more efficiently.

Investment summary

FY18 was successful for IBU-tec on several fronts. Organic revenues rose by 13% to a record high, reversing the decline in FY17. There was strong growth in demand for battery materials and chemicals catalysts following the programme instigated in H217 to reduce dependence on sales of materials for automotive catalysts. Including BNT Chemicals (BNT), acquired in June 2018, revenues almost trebled, while EBITDA increased by 60%. Management expects growth to continue in FY19, supported by the first output from the new site in Bitterfeld, acquired in April 2018.

Sector
Industrials
Share price graph
Price performance
%
1m
3m
12m
Actual (10.5) (5.3) (9.5)
Relative* (8.4) (9.2) (1.7)
52-week high/low €19.4/€14.1
*% relative to local index
Key management
Ulrich Weitz CEO
Jörg Leinenbach CFO