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.€190.4m
Last close€34.79
High / Low (52 weeks)€49.1 / €31.7
Stock market listingDE
Forecast net cash (€m)1.9
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual1.0(14.2)7.8
Relative *(2.4)(13.2)(9)

* % Relative to local index

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Company news

BRIEF-SNP Schneider Neureither & Partner increases stake in SNP ...

Tue, 16 May 2017 09:00:00 GMT

BRIEF-SNP Schneider Neureither & Partner buys majority holding in Harlex ...

Fri, 30 Sep 2016 13:05:33 GMT

System Management: The Harmony of It All

Thu, 31 May 2012 19:59:06 GMT

SNP Is Trusted With Chemical Industry Mega-Merger's IT Transformation

Tue, 27 Sep 2016 16:30:00 GMT

Equiteq sells SAP data management consultancy to SNP AG

Mon, 03 Oct 2016 13:52:30 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 59.2 68.5
2016A 80.7 8.5 5.7 94.4 36.9 148.8
2017E 110.0 10.1 7.2 91.7 37.9 27.7
2018E 135.1 17.7 13.6 168.7 20.6 11.2

Last updated on 30/08/2017

Investment summary

SNP reported a 27% growth in H1 revenues, including 6% organic growth. While the growth was significantly lower than budgeted, management remains very buoyant, and activity has been picking up, with the book-to-bill ratio rising to 1.26 in Q2. The hyperactive acquisition strategy is based on the view that there is a potential tsunami of data migrations building up across the globe, particularly around SAP S/4HANA, with some 50,000 companies expected to upgrade to the new SAP ERP platform over the next few 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 17x our FY19e EPS.

Last updated on 06/09/2017

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 06/09/2017

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
Heidelberg
69121
Germany
+49 6221 6425 - 0
View website