Dowlais is an automotive components group with two core divisions: GKN Automotive is the market leader in drive systems for both ICEs and EVs, and GKN Powder Metallurgy is the leader in sintered component manufacture and number two in metal powders.
Industrials
Industrials
Roberto Fioroni
CFO
Forecast net cash (£m)
901.5
Forecast gearing ratio (%)
N/A
% | 1M | 3M | 12M |
---|---|---|---|
Actual | 10.8 | N/A | N/A |
Relative | 15.0 | N/A | N/A |
52 week high/low | 143.5p/117.2p |
Management set out its strategy when the company listed in April. The trading update confirms that it is on track. Volume and top-line growth, as reported, are expected to provide leverage over the restructured cost base and drive margin expansion (target 11%+ pre central costs), to generate strong earnings growth and demonstrate the quality of the operations.
Y/E Dec | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (fd) (p) | P/E (x) | P/CF (x) |
---|---|---|---|---|---|---|
2021A | 4731.0 | 515.0 | 109.0 | N/A | N/A | N/A |
2022A | 5246.0 | 594.0 | 212.0 | N/A | N/A | N/A |
2023E | 5486.6 | 622.5 | 259.3 | 13.26 | 10.4 | 3.5 |
2024E | 5798.9 | 712.7 | 336.6 | 17.45 | 7.9 | 3.0 |
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