STEMMER IMAGING

DB: S9I

€171.6m market cap

€26.4 last close

STEMMER IMAGING Group (SI) is Europe‘s leading independent provider of machine vision technology solutions to science and industry, selling both directly and indirectly, via system integrators or OEMs.

Investment summary

The two acquisitions completed since the IPO in February 2018 contributed to a 7% year-on-year revenue growth during H119, even though the German machine vision market was flat. The recent acquisition of French competitor ELVITEC depressed gross margins, resulting in a 10% dip in adjusted EBITDA. However, management expects purchasing and other synergies to kick in during H219, improving margins and potentially delivering year-on-year profit growth.

Sector
TMT
Share price graph
Price performance
%
1m
3m
12m
Actual 5.6 (15.0) (35.4)
Relative* 4.3 (23.1) (30.3)
52-week high/low €51.0/€23.7
*% relative to local index
Key management
Arne Dehn CEO
Lars Böhrnsen CFO