Acal (ACL)

Business description

Acal is a leading international supplier of customised electronics to industry. It designs, manufactures and distributes customer-specific electronic products and solutions to 25,000 industrial manufacturers.

Stock data

Market cap.£212.1m
Last close300.00p
High / Low (52 weeks)328.0p / 204.5p
Stock market listingLN
Forecast net debt (£m)N/A
Forecast gearing ratio (%)N/A

Price performance

Relative *(0.9)10.113.9

* % Relative to local index

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Company news

Acal agrees acquisition of Variohm to expand design and manufacturing business

Fri, 20 Jan 2017 07:34:49 GMT

Acal successfully completes £14.1mln placing

Mon, 23 Jan 2017 07:56:30 GMT

Acal, Eland and Tharisa among Peel Hunt's top value plays for 2017

Tue, 10 Jan 2017 11:35:18 GMT

Acal sees strong return to organic growth

Tue, 06 Jun 2017 06:56:15 GMT

Volume Moving the Tape For Acal PLC (ACL.L)

Fri, 18 Aug 2017 03:22:30 GMT

Investment summary

The strong trading environment in Q417, which saw year-on-year revenue growth of 15% at constant exchange rates (CER) and 11% organic growth, continued into Q118. Acal saw Q118 revenue growth of 14% CER and 9% organic; the organic growth rates by division were broadly similar. Order intake was also strong, up 21% CER and 15% organic (similar across both divisions), accelerating from 16% CER and 13% organic growth in Q417. The Variohm business is performing well and cross-selling between the two divisions also contributed to growth. We maintain our forecasts but highlight that if growth continues at a similar rate in Q2, there may be scope for upgrades.

Last updated on 03/08/2017

Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 287.7 19.8 15.2 17.8 16.9 13.0
2017A 338.2 24.3 17.8 19.9 15.1 9.7
2018E 367.4 27.3 20.7 20.6 14.6 10.8
2019E 381.1 28.6 22.1 21.7 13.8 8.6

Last updated on 25/07/2017

Latest video

Executive Interview - Acal

Industry outlook

Acal is a supplier of customised electronics to industry with operations throughout Europe and increasingly outside Europe. The company is focused on growing the percentage of higher-margin specialist product through organic growth and acquisition. Its key markets (c 50% of sales) are medical, renewables, transportation and industrial connectivity, all of which are good growth markets.

Last updated on 03/08/2017

Key management

Richard Moon, Chairman
Nick Jefferies, CEO
Simon Gibbins, FD
Joanna Madge, Group Company Secretary Designate
Gary Shillinglaw, Corporate Secretary

Company address

2 Chancellor Court
Occam Road
Surrey Research Park
United Kingdom
+44 (0) 1483 544 500
View website