SNP Schneider-Neureither & Partner (SHF)

Business description

SNP Schneider-Neureither & Partner is a software and consulting business focused on supporting customers in implementing change, and rapidly and economically tailoring IT landscapes to new situations.

Stock data

Market cap.€187.2m
Last close€34.20
High / Low (52 weeks)€49.1 / €28.5
Stock market listingDE
Forecast net cash (€m)0.1
Forecast gearing ratio (%)N/A

Price performance

Relative *13.39.4(30.2)

* % Relative to local index

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Company news

Can SNP Schneider-Neureither & Partner AG (SHF.DE) Move Higher? Trends ...

Thu, 18 Jan 2018 08:26:15 GMT

SNP AG 9-mth revenue at EUR 81.0 million​

Fri, 27 Oct 2017 06:28:06 GMT

‍Techniche says signed agreement for sale of ERST European Retail Systems Technology GmbH

Wed, 18 Oct 2017 21:42:42 GMT

SNP Q2 EBIT down at EUR 0.5 mln​

Fri, 28 Jul 2017 05:45:06 GMT

VÖB-Service GmbH and SNP AG agree on strategic cooperation

Thu, 20 Jul 2017 13:46:35 GMT

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2015A 56.2 5.5 3.4 58.8 58.2 67.3
2016A 80.7 8.5 5.7 94.4 36.2 146.3
2017E 120.0 3.0 (1.2) (20.5) N/A N/A
2018E 149.2 11.0 6.4 77.1 44.4 18.4

Last updated on 07/12/2017

Investment summary

Q3 revenue growth of 68% was driven by acquisitions and included c 2% organic growth. The Q3 loss was partly due to delayed software sales and investment in growth. However, order backlog was a record, the book-to-bill remained healthy at 1.13x and utilisation rates have returned to normal after a slow start to the year. We adjusted our FY17 forecasts in line with guidance (including break-even at the EBIT level), while also increasing revenues and cutting margins in subsequent years. SNP’s goal is to be the global leader in software-based transformation projects and, following the recent correction, we believe the shares look increasingly attractive on c 19x our FY19e EPS.

Last updated on 13/12/2017

Industry outlook

SNP helps businesses tailor and improve their ERP landscapes. Its proprietary software includes the only off-the-shelf transformation product in SNP Transformation Backbone with SAP Landscape Transformation Software (T-B), which automates the process of combining, upgrading or carving out data from ERP systems. Activity remains brisk at SNP, with utilisation rates very high, as the company continues to benefit from favourable structural growth drivers, a partnership with SAP, along with its elevated profile in the wake of the landmark Hewlett-Packard deal of 2015.

Last updated on 13/12/2017

Key management

Dr Andreas Schneider-Neureither, CEO
Mr Joerg Vierfuss, CFO
Dr Michael Drill, Chairman of the Supervisory Board
Henry Göttler, Chief Operating Officer

Company address

Dossenheimer Landstraße 100
+49 6221 6425 - 0
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