Epwin Group (EPWN)

Business description

Epwin supplies functional low-maintenance exterior building products (including windows, doors, roofline and rainwater goods) into a number of UK market segments and is a modest exporter.

Stock data

Market cap.£107.6m
Last close75.25p
High / Low (52 weeks)128.5p / 65.5p
Stock market listingLN
Forecast net debt (£m)26.1
Forecast gearing ratio (%)27
TeamIndustrials
SectorConstruction & Building Materials

Price performance

%1m3m12m
Actual(4.4)10.7(21)
Relative *(3.1)9.2(28.4)

* % Relative to local index

Other companies in sector Show

Company news

Epwin Group PLC Sound performance in challenging conditions

Wed, 13 Sep 2017 06:21:32 GMT

Epwin Group Plc Half Year Trading Update and Notice of Results

Wed, 16 Aug 2017 06:25:21 GMT

SUNDAY NEWSPAPER SHARE TIPS: Epwin Group, Learning Technologies, Card Factory ...

Sun, 03 Apr 2016 11:17:57 GMT

MIDAS SHARE TIPS: Plastic is fantastic for Epwin Group, a firm that decks ...

Sat, 02 Apr 2016 21:02:01 GMT

Are Premier Oil plc, Benchmark Holdings plc and Epwin Group plc 3 'screaming ...

Fri, 20 May 2016 08:26:15 GMT

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2015A 256.0 25.6 19.2 11.7 6.4 4.3
2016A 293.2 33.3 24.3 14.7 5.1 3.5
2017E 300.3 30.6 20.8 11.9 6.3 5.1
2018E 276.9 28.5 18.8 10.5 7.2 3.9

Last updated on 24/10/2017

Investment summary

Reported H117 results were consistent with the company’s period-end update issued in August. Headline group revenue progress was boosted by an additional contribution from prior year acquisition National Plastics, while higher input costs were the primary influence on the y-o-y margin reduction in the first six months’ trading. Adverse developments for two of Epwin’s larger customers caused us to make material downward adjustments to earnings estimates on an annualised basis. However, we believe that our revised estimates, along with the company’s financial position and cash credentials, are sufficient to sustain the current level of dividend payout.

Last updated on 02/11/2017

Industry outlook

Epwin is exposed to both RMI (c 70% revenue) and newbuild (c 30%) in the UK housing market. Newbuild activity is clearly ahead y-o-y, while RMI demand has been more patchy. Referencing potential post-Brexit consumer confidence, industry commentators have expressed near-term caution.

Last updated on 02/11/2017

Key management

Jon Bednall, CEO
Chris Empson, FD

Company address

1B Stratford Court
Cranmore Boulevard
Solihull
B90 4QT
United Kingdom
01242 243444
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