Tyman (TYMN)

Business description

Tyman’s product portfolio substantially addresses the residential RMI and building markets with increasing commercial sector exposure following acquisitions. It manufactures and sources window and door hardware and seals, reporting in three divisions.

Stock data

Market cap.£566.2m
Last close318.00p
High / Low (52 weeks)367.0p / 250.0p
Stock market listingLN
Forecast net debt (£m)170.1
Forecast gearing ratio (%)46
TeamIndustrials
SectorConstruction & Building Materials

Price performance

%1m3m12m
Actual(3.1)(9)22.2
Relative *(1.2)(8.6)10.7

* % Relative to local index

Other companies in sector Show

Company news

Tyman slides after lowering full-year profit expectations

Tue, 07 Nov 2017 10:03:43 GMT

US acquisition opens doors for Tyman

Wed, 08 Mar 2017 10:25:33 GMT

Tyman plc is a stock I'd buy and hold forever

Tue, 25 Jul 2017 10:08:55 GMT

ERA owner Tyman says latest acquisition integrating well

Fri, 13 May 2016 10:42:13 GMT

Tyman locks down Bilco in US$71mln deal

Wed, 15 Jun 2016 11:10:04 GMT

Investment summary

H117 results showed underlying progress compared to the prior year (LFL revenue +2%, EBIT +3.9%) with Schlegel International in particular delivering good gains. On the same basis, AmesburyTruth was slightly ahead of H116 and ERA experienced cost headwinds. Overseas operations also benefited from favourable translation following sterling weakness and all regions contained positive y-o-y acquisition effects, leaving reported revenue and EBIT both well up c 30% versus the prior year. Seasonal cash outflow was within the normal range. Management expects the working capital component to substantially reverse in H2 and for market conditions to remain broadly the same for each of the three divisions. The strength of Schlegel International’s H1 performance and additional flagged synergies caused us to raise our group PBT estimates by 5-6% across our forecast horizon (or 3-4% at the EPS level), with a sharper FY17 dividend increase also.

Last updated on 02/11/2017

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 353.4 60.4 44.9 19.2 16.6 10.9
2016A 457.6 82.5 62.1 25.3 12.6 6.9
2017E 535.8 95.2 72.3 27.6 11.5 7.9
2018E 547.7 100.1 76.7 29.3 10.9 6.2

Last updated on 24/10/2017

Latest video

Analyst Interview - Tyman

Industry outlook

Leading markets are expected to grow modestly and the new-build sector has generally continued to be firmer than RMI spend, which has been more patchy.

Last updated on 02/11/2017

Key management

Martin Towers, Chairman
Louis Eperjesi, CEO
James Brotherton, CFO

Company address

65 Buckingham Gate
London
SW1E 6AS
United Kingdom
020 7976 8000
View website