Stock data
| Market cap. | £68.1m |
| Last close | 23.50p |
| High / Low (52 weeks) | 27.2p / 20.0p |
| Stock market listing | AIM |
| Forecast net cash (€m) | 25.3 |
| Forecast gearing ratio (%) | N/A |
| Team | Industrials |
| Sector | Basic Industries |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | (5.53) | 9.3 | (3.09) |
| Relative * | (0.89) | 18.28 | 6.5 |
* % Relative to local index
Other companies covered in sector
| Y/E Dec | Revenue (€m) | EBITDA (€m) | PBT (€m) | EPS (c) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 310.6 | 12.4 | (0.8) | 0.5 | 57.9 | 3.1 |
| 2011A | 121.5 | 17.3 | 10.6 | 2.8 | 10.3 | 4.4 |
| 2012E | 123.5 | 18.7 | 13.0 | 3.5 | 8.3 | 4.6 |
| 2013E | 127.1 | 18.9 | 13.2 | 3.5 | 8.3 | 4.5 |
Last updated on 19/04/2012
Latest research
Adding and seeking value
Update | Basic Industries | 30/03/2012
Savon Sellu delivers
Flash note | Basic Industries | 30/01/2012
Paper profits
Outlook | Basic Industries | 04/10/2011
All the ingredients
QuickView | Basic Industries | 19/03/2010
Investment summary
FY11 profitability rose strongly – with PBT increasing almost 1.5x - substantially due to a better pricing environment. The result could have been better still, but for a larger than usual (scheduled) maintenance period. This should revert to normal levels in FY12, contributing to a further healthy profit uplift and lower net interest costs should have a positive y-o-y impact on PBT also. FY11 DPS was ahead of our estimate and well covered by both earnings and cash. Powerflute's AGM will be on 26 April.
Last updated on 23/04/2012
Industry outlook
Powerflute aims to build a portfolio of niche paper and packaging businesses. It has demonstrated financial and operational judgement in transactions so far and now needs to take the group to the next level. Typical target companies will have turnover ranging €150-200m and/or produce in excess of 300,000 tonnes of product. At any one time, the portfolio is unlikely to exceed five businesses to maintain the operational focus overseen by the executive board.
Last updated on 23/04/2012
Key management
| Dermot Smurfit, Chairman |
| Marco Casiraghi, CEO |
| David Walton, FD |
Company address
| Savon Sellu PO Box 57 Sorsasalo Kuopio 70101 Finland View website |
