Treatt provides innovative ingredient solutions from its manufacturing bases in Europe and North America, principally for the flavours and fragrance industries and multinational consumer goods companies, with particular emphasis on the beverage sector.
Treatt has migrated its business from that of a pure supplier to the food and beverage industries to being a valued partner in the development of new ingredients. Citrus, tea, fruit and vegetable flavours, and health and wellness (mainly sugar reduction) are core areas of focus, with the latter undergoing a structural growth trend.
Consumer
Consumer
Consumer
Daemmon Reeve
CEO
Ryan Govender
CFO
Tim Jones
Chairman
Forecast net debt (£m)
10.2
Forecast gearing ratio (%)
7
% | 1M | 3M | 12M |
---|---|---|---|
Actual | 1.0 | (1.6) | (43.7) |
Relative | (4.4) | (10.6) | (44.3) |
52 week high/low | 1158.0p/507.0p |
Treatt’s FY22 results were in line with the revised guidance issued in August. Management once again explained the steps that have been taken to improve processes around sales pricing and cost recovery, with new FX management systems already implemented. Treatt has made substantial investments in both its assets and people over the last few years to support future growth, but the investment phase is largely complete now. Management remains optimistic despite the dampened macroeconomic environment, as the market for natural and healthy products remains resilient.
Y/E Sep | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (p) | P/E (x) | P/CF (x) |
---|---|---|---|---|---|---|
2021A | 124.3 | 24.9 | 22.7 | 30.1 | 21.0 | 28.2 |
2022A | 140.2 | 19.5 | 16.5 | 21.9 | 28.8 | N/A |
2023E | 148.6 | 24.0 | 17.9 | 23.4 | 27.0 | 12.7 |
2024E | 157.5 | 25.8 | 20.3 | 26.2 | 24.1 | 18.2 |
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