discoverIE Group (DSCV)

Business description

discoverIE Group 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.£247.9m
Last close350.50p
High / Low (52 weeks)364.5p / 212.5p
Stock market listingLN
Forecast net debt (£m)29.9
Forecast gearing ratio (%)24
TeamTechnology
SectorElectronics & Electrical Equipment

Price performance

%1m3m12m
Actual11.314.954.6
Relative *10.113.042.2

* % Relative to local index

Other companies in sector Show

Company news

discoverIE shares strong performers over the last year, but still plenty to go ...

Tue, 12 Dec 2017 09:48:23 GMT

DiscoverIE is the new Acal

Tue, 28 Nov 2017 09:50:21 GMT

Proactive news snapshot: ValiRx, W Resources, Falcon Oil & Gas …

Tue, 12 Dec 2017 15:56:15 GMT

Electronics group Acal to beat expectations after strong finish to the year

Wed, 19 Apr 2017 09:57:52 GMT

Proactive Oil & Gas Highlights: Hurricane Energy, Falcon Oil & Gas, SDX, COPL ...

Sat, 16 Dec 2017 09:00:00 GMT

Investment summary

discoverIE (previously called Acal) reported strong interims, proving that its strategy to grow the design and manufacturing (D&M) side of the business is bearing fruit. Organic revenue growth of 9% drove improved operating margins and EPS, while growth in orders and design wins position discoverIE for sustained growth. Management continues to seek out suitable acquisitions to accelerate growth of D&M – based on a similar profile to previous deals, we estimate that using existing credit facilities to make £50m worth of acquisitions could add 20-25% to FY19e EPS.

Last updated on 07/12/2017

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 19.7 15.2
2017A 338.2 24.3 17.8 19.9 17.6 11.3
2018E 388.0 28.6 21.6 21.6 16.2 12.2
2019E 402.6 29.9 22.9 22.6 15.5 9.6

Last updated on 07/12/2017

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 02/11/2017

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
Guildford
GU2 7AH
United Kingdom
+44 (0) 1483 544 500
View website