Low & Bonar (LWB)

Business description

Low & Bonar produces specialist performance materials for a variety of end-markets by combining polymers with specialty additives and pigments. It now reports as four global business units.

Stock data

Market cap.£222.6m
Last close67.50p
High / Low (52 weeks)89.8p / 63.2p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamIndustrials
SectorBasic Industries

Price performance

%1m3m12m
Actual0.0(14)5.1
Relative *(1.1)(15.5)(3.4)

* % Relative to local index

Other companies in sector Show

Company news

Low & Bonar suffers hurricane fall-out as prices rise

Mon, 16 Oct 2017 08:14:54 GMT

Worst over for high-yielding Low & Bonar?

Tue, 03 Feb 2015 15:02:13 GMT

Good results for Low & Bonar PLC

Tue, 11 Jul 2017 09:56:15 GMT

This is what analysts have to say about Low & Bonar plc (LON:LWB) after last week.

Sat, 16 Dec 2017 14:03:45 GMT

Why Low & Bonar plc Could Thrash Returns From HSBC Holdings plc And Rio Tinto plc

Fri, 17 Jul 2015 11:37:30 GMT

Y/E Nov Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 362.1 46.0 27.4 5.8 11.6 N/A
2016A 402.2 52.8 29.2 6.0 11.3 N/A
2017E 445.0 55.8 31.8 6.4 10.5 N/A
2018E 445.4 61.3 36.3 7.4 9.1 N/A

Last updated on 12/12/2017

Investment summary

Civil Engineering demand has not picked up as anticipated in H2, reflecting low project activity rather than any loss of market share. A shortfall in specification projects, in particular, impacts business unit profitability and will reduce working capital inflow. Low & Bonar’s other business units have fared better; we expect all three to report higher H2 EBIT y-o-y, with Building & Industrial and Interiors & Transportation achieving solid mid-teens margins, despite upward pressure on polymer-based input costs. Regionally, North America and China appear to be the stronger territories served with some variability in Europe.

Last updated on 13/12/2017

Industry outlook

Key strategic medium-term financial targets are currently for 10% operating margins and 12%+ return on capital employed. Organic group revenue growth may be supplemented by M&A. The onus is clearly on territories outside Europe to provide the growth engine.

Last updated on 13/12/2017

Key management

Martin Flower, Chairman
Brett Simpson, CEO
Philip de Klerk, CFO

Company address

One Connaught Place,
London
W2 2ET
United Kingdom
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