discoverIE Group (LSE: DSCV)

Last close As at 28/02/2024

GBP6.84

−10.00 (−1.44%)

Market capitalisation

GBP660m

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 & connectivity – all of which are long-term structural growth markets.

Latest Insights

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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 debt (£m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (11.2) 6.9 (20.0)
Relative (10.8) 4.3 (17.2)
52 week high/low 938.0p/593.0p

Financials

discoverIE’s Q324 trading update confirmed a return to organic order growth, while the decline in organic revenue reflected the expected unwind of customer inventory. The company notes that margins remain robust and it anticipates meeting the board’s earnings expectations for FY24. We have reduced our revenue forecasts to reflect the strength of sterling versus a range of currencies but maintain our operating profit and EPS forecasts, resulting in a small uplift to operating margins in both years.

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 21.3 15.0
2023A 448.9 65.4 48.8 36.7 18.6 12.5
2024E 442.1 71.8 49.6 37.4 18.3 10.8
2025E 467.0 76.6 52.2 38.9 17.6 10.3

Further insights

Thematics

thematic

TMT

MediaWatch – Rinse and repeat

thematic

TMT

MediaWatch – Still waiting…

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