Marshall Motor Holdings (MMH)

Business description

Marshall Motor is the seventh largest UK motor retailer, operating 104 franchises spread across 24 brands at 90 locations. It is one of six UK dealership groups that represent each of the top five volume and premium brands. The group has a strong presence in eastern and southern England.

Stock data

Market cap.£126.9m
Last close164.00p
High / Low (52 weeks)178.5p / 133.5p
Stock market listingLN
Forecast net cash (£m)7.1
Forecast gearing ratio (%)N/A
TeamIndustrials
SectorAutomotive Retailers

Price performance

%1m3m12m
Actual1.62.522.4
Relative *0.50.812.6

* % Relative to local index

Other companies in sector Show

Company news

Marshall Motor Holdings PLC Q&A with Zeus Capital (LON:MMH)

Fri, 15 Dec 2017 11:33:29 GMT

Marshall Motor Holdings PLC Leasing disposal and portfolio update

Wed, 13 Dec 2017 07:29:01 GMT

Marshall Motor 'cautious' on UK auto industry despite upbeat first half

Tue, 15 Aug 2017 07:10:31 GMT

Marshall Motor Holdings acquires Leeds Volvo from Harratts Group

Tue, 06 Jun 2017 09:23:09 GMT

Marshall Motor Holdings

Wed, 13 May 2015 15:49:18 GMT

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 1232.8 22.5 15.8 15.8 10.4 3.3
2016A 1899.4 38.4 25.4 26.2 6.3 1.3
2017E 2271.1 44.4 28.3 28.6 5.7 1.5
2018E 2219.0 39.6 24.5 24.8 6.6 2.9

Last updated on 12/12/2017

Investment summary

Since its listing on AIM in 2014, MMH can reflect positively on its continued transformation and strong growth record, which has driven it to rank seventh among UK automotive retailing groups. The strong brand coverage and excellent relationships with major manufacturers should continue to deliver growth. Despite the tougher H217 new car market, H1 trading was strong. The disposal of Leasing and recent portfolio tidying provides further financial flexibility and reduces risk.

Last updated on 13/12/2017

Industry outlook

Market dynamics favour larger motor dealership groups against smaller independent groups, which still command c 60% of the franchise market. Global manufacturing overcapacity still points to OEM support, although stockmarket confidence is undermined by the inflationary impact of weak sterling on new car prices and interest rates. Large rating discounts relative to the FTSE All-Share General Retailers Index fail to recognise the defensive qualities across a sector where used vehicle and aftersales activities account for the majority of profits.

Last updated on 13/12/2017

Key management

Daksh Gupta, CEO
Chris Baird , Corporate Finance/IR
Mark Leeder, Head of Commercial Finance

Company address

Airport House
The Airport, Newmarket Road, Cambridge
CB5 8RY
United Kingdom
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