Currency in GBP
Last close As at 07/06/2023
▲ 116.00 (14.55%)
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.
Head of Investor Relations
Forecast net cash (£m)
Forecast gearing ratio (%)
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discoverIE expects to report 16% revenue growth for FY23, with 8% organic growth (in both divisions), a 5% contribution from acquisitions and 3% from foreign exchange. With Q423 trading slightly better than expected, discoverIE is on track to deliver FY23 underlying earnings ahead of board expectations. The year-end order book was also higher than anticipated due to stronger than expected order intake in Q423, providing good visibility for FY24. We have upgraded our underlying EPS forecasts for FY23 and FY24 by 3.2% and 1.9% respectively and reduced our net debt forecasts over the same period.
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