discoverIE Group (LSE: DSCV)

Last close As at 17/05/2024

GBP7.45

14.00 (1.92%)

Market capitalisation

GBP718m

discoverIE is a leading international designer and manufacturer of customised electronics to industry, supplying customer-specific electronic products and solutions to OEMs.

discoverIE specialises in the design and manufacture of technically demanding, bespoke electronics for industrial applications with operations throughout Europe and increasingly outside Europe. The company is focused on four target markets comprising three-quarters of group sales – renewables, electrification of transportation, medical and industrial and connectivity – all of which are long-term structural growth markets.

Latest Insights

View More
discoverIE-Group_resized

Sector

TMT

Equity Analyst

Key Management

  • Bruce Thompson

    Non-exec chairman

  • Greg Davidson

    Company secretary

  • Lili Huang

    Head of Investor Relations

  • Nick Jefferies

    CEO

  • Simon Gibbins

    FD

Balance Sheet

Forecast net cash (£m)

104.1

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 4.2 3.2 (8.1)
Relative (3.4) (5.6) (15.5)
52 week high/low 938.0p/593.0p

Financials

discoverIE anticipates reporting FY24 underlying EPS in line with board expectations. After a period in mid-FY24 of working down inventory, customers appear to be reverting to normal ordering patterns, with Q424 organic revenue growth of 2% y-o-y and 11% q-o-q and a strong pipeline of design wins at year-end. We have revised our forecasts to reflect lower revenue, partly due to a disposal, but maintain our profit forecasts, which results in operating margin expansion in FY24 and FY25.

Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2022A 379.2 56.1 41.0 32.1 23.2 16.3
2023A 448.9 65.4 48.8 36.7 20.3 13.6
2024E 435.2 71.8 49.6 37.4 19.9 12.8
2025E 453.1 76.6 52.3 38.9 19.2 10.4

Further insights

Thematics

thematic

TMT

MediaWatch – Rinse and repeat

thematic

TMT

MediaWatch – Still waiting…

Subscribe to Edison

Get access to the very latest content matched to your personal investment style.

Sign up for free