discoverIE Group - Edison Group

discoverIE Group (LSE: DSCV)

Currency in GBP

Last close As at 06/12/2023

GBP7.03

▲ 99.00 (16.39%)

Market capitalisation

GBP677m

Overview
Price performance
Financials
Research
Sector insights
Thematics

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

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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Update

13.10.23

discoverIE Group — Strong growth in margins & design wins in H124

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edison tv

14.09.23

discoverIE – executive interview

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Update

14.09.23

discoverIE Group — Creating an industrial wireless connectivity cluster

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Flash note

02.08.23

discoverIE Group — Adding power-over-ethernet capability

discoverIE-Group_resized

Sector

TMT

Equity Analyst

Katherine Thompson

Katherine Thompson

Director

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)

101.8

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	10.5	(3.0)	(16.3)
Relative	9.2	(3.6)	(15.0)
52 week high/low	938.0p/593.0p

Financials

discoverIE’s trading update confirmed organic revenue growth and operating margin expansion in H124. Organic growth was 2% for Magnetics & Controls and 1% for Sensing & Connectivity. The company expects to deliver FY24 underlying earnings in line with its recently upgraded expectations; we maintain our operating profit and EPS forecasts. As expected, the order book continues to normalise but still provides good visibility for H224, and strong design win activity provides support for growth in the medium term.

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	21.9	15.4
2023A	448.9	65.4	48.8	36.7	19.2	12.9
2024E	452.2	71.8	49.6	37.4	18.8	11.9
2025E	477.3	76.6	52.2	38.9	18.1	11.2

Update

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29.07.22

discoverIE Group — Upgrading on strong organic growth

Update

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07.07.22

discoverIE Group — Bolt-on Sensing & Connectivity acquisition

Update

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17.06.22

discoverIE Group — Strong growth despite market challenges

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19.04.22

discoverIE Group — Entering FY23 in a strong position

Update

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10.02.22

discoverIE Group — Continued order strength drives upgrades

Outlook

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06.12.21

discoverIE Group — Record order book drives upgrades

Update

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11.11.21

discoverIE Group — Fully focused on Design & Manufacturing

Update

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18.10.21

discoverIE Group — Starting H222 with a record order book

Update

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07.09.21

discoverIE Group — High-margin acquisitions

Update

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30.07.21

discoverIE Group — Upgrading on strong organic growth

Update

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09.06.21

discoverIE Group — Back in growth mode

Update

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21.04.21

discoverIE Group — Strong finish to year prompts upgrades

Update

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10.02.21

discoverIE Group — Trading strengthens through H221

Outlook

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10.12.20

discoverIE Group — Platform in place for recovery

Update

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16.10.20

discoverIE Group — Dividend and M&A back on the agenda

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03.08.20

discoverIE Group — Confident outlook

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18.05.20

discoverIE Group — Stronger close to FY20

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24.03.20

discoverIE Group — Factoring in COVID-19 disruption

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31.01.20

discoverIE Group — On track for FY20

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09.12.19

discoverIE Group — Focus on growth markets paying off

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21.10.19

discoverIE Group — High-margin sensor technology acquisition

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14.10.19

discoverIE Group — D&M driving good organic growth

Update

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26.07.19

discoverIE Group — Good start to the year

Outlook

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26.06.19

discoverIE Group — Growth strategy drives strong FY19 results

Update

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23.04.19

discoverIE Group — Boosting North American presence

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01.02.19

discoverIE Group — Organic growth accelerates

research

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18.12.18

discoverIE Group — H1 organic growth supports FY19 outlook

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18.12.18

discoverIE Group — H1 organic growth supports FY19 outlook

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25.10.18

discoverIE Group — Expanding margins and international exposure

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15.10.18

discoverIE Group — Broad-based demand drives strong Q2 trading

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27.07.18

discoverIE Group — Double-digit order growth for D&M

research

14.06.18

discoverIE Group — Making good progress

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24.04.18

discoverIE Group — Strong finish to FY18

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19.03.18

discoverIE Group — Outlining the growth opportunity

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05.02.18

discoverIE Group — Accretive acquisition drives FY19 growth

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01.02.18

discoverIE Group — Strong growth in D&M continues

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07.12.17

discoverIE Group — New name reflects ambitious growth strategy

Update

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24.04.17

Acal — Stronger trading drives upgrades

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26.01.17

Acal — Update 26 January 2017

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18.10.16

Acal — Update 18 October 2016

Update

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27.07.16

Acal — Update 27 July 2016

Outlook

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10.06.16

Acal — Update 10 June 2016

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18.04.16

Acal — Update 18 April 2016

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17.02.16

Acal — Update 16 February 2016

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08.12.15

Acal — Update 8 December 2015

edison tv

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26.06.13

Executive Interview – Acal