John Laing Group

LN: JLG

£1904.2m market cap

388p last close

John Laing is an originator, active investor in, and manager of greenfield infrastructure projects. John Laing operates internationally and its business is focused on the transport, energy, social and environmental sectors.

Investment summary

John Laing Group (JLG) posted strong growth in FY18 with the principal benchmark, NAV per share, up 15% (18.2% including dividends paid). JLG can now point to a compound growth rate in NAV per share (with dividends) of 15.8% since its IPO in 2015. With a strengthened balance sheet and a geographically diversified business, JLG remains well placed to exploit the growth opportunities provided by a strong global market for infrastructure assets.

Y/E Dec
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (p)
P/E (x)
P/CF (x)
2017A 196.7 138.1 126.0 31.9 12.2 N/A
2018A 397.4 331.9 296.6 63.1 6.1 N/A
2019E 312.7 247.9 233.4 47.7 8.1 N/A
2020E 349.9 283.8 264.6 53.1 7.3 N/A
Last updated on 21/03/2019
Industry outlook

Predicted population growth and a drive for increased renewable energy generation create a favourable outlook for investment in infrastructure projects.

Last updated on 21/03/2019
Share price graph
Balance sheet
Forecast net debt (£m) 131.4
Forecast gearing ratio (%) 12
Price performance
%
1m
3m
12m
Actual 3.7 19.9 50.9
Relative* 1.5 9.4 46.2
52-week high/low 391.8p/256.0p
*% relative to local index
Key management
Dr Phil Nolan Chairman
Olivier Brousse CEO
Patrick Bourke FD