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discoverIE Group (DSCV)

Business description

discoverIE Group (formerly Acal Group) is a leading international designer, manufacturer and supplier of customer-specific electronic products and solutions to 25,000 industrial manufacturers.

Stock data

Market cap.£298.5m
Last close407.00p
High / Low (52 weeks)455.0p / 290.0p
Stock market listingLN
Forecast net debt (£m)N/A
Forecast gearing ratio (%)N/A
SectorElectronics & Electrical Equipment

Price performance

Relative *(9.8)(8.8)30.5

* % Relative to local index

Other companies in sector Show

Company news

Investment summary

discoverIE reported strong FY18 results: organic growth of 6% was boosted by acquisitions and currency to generate reported revenue growth of 14.7% and normalised EPS growth of 15.8%. The company is making good progress in its strategy to grow the Design & Manufacturing (D&M) business through a combination of organic growth and recent acquisitions. We expect further accretive acquisitions to move discoverIE towards its target of generating 75% of revenues from the D&M business, and view progress towards this target as the key driver of share price performance.

Last updated on 29/06/2018

Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2017A 338.2 24.3 17.8 19.9 20.5 13.0
2018A 387.9 29.3 22.6 23.0 17.7 13.3
2019E 422.5 34.1 25.3 25.0 16.3 10.4
2020E 433.8 35.2 26.5 25.9 15.7 10.2

Last updated on 20/06/2018

Latest video

Executive Interview - Acal

Industry outlook

discoverIE Group is a designer, manufacturer and supplier of customised electronics to industry with operations throughout Europe and increasingly outside Europe. The company is focused on growing the percentage of higher-margin specialist product through organic growth and acquisition. Its key markets (more than 50% of sales) are medical, renewables, transportation and industrial connectivity, all of which are good growth markets.

Last updated on 29/06/2018

Key management

Nick Jefferies, CEO
Simon Gibbins, FD
Joanna Madge, Group Company Secretary Designate
Gary Shillinglaw, Corporate Secretary

Company address

2 Chancellor Court
Occam Road
Surrey Research Park
United Kingdom
+44 (0) 1483 544 500
View website