Search Follow us

John Laing Group (JLG)

Business description

John Laing is an originator, active investor in, and manager of greenfield infrastructure projects. John Laing operates internationally and its business is focused on the transport, energy, social and environmental sectors.

Stock data

Market cap.£1800.2m
Last close366.80p
High / Low (52 weeks)369.8p / 241.9p
Stock market listingLN
Forecast net debt (£m)46.8
Forecast gearing ratio (%)4
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual5.613.650.2
Relative *1.011.651.4

* % Relative to local index

Other companies in sector Show

3i Group Abbey Protection
Aberdeen Asset Management Admiral Group
AFH Financial Group Ai Claims Solutions
Allied Minds Alpha Strategic
Amlin APQ Global
Arbuthnot Banking Group Arden Partners
Ashford Ashford Hospitality Trust
Ashmore Group Attica Bank
Aviva Banca IFIS
Banca Sistema BB Healthcare Trust
Beazley Braemar Hotels & Resorts
Brewin Dolphin Brightside Group
Catlin Group Cenkos Securities
ChimpChange Circle Holdings
City of London Group Collins Stewart
Consus Real Estate Corestate Capital Holding
Covercy Creditshelf
Curtis Banks DeA Capital
Deutsche Börse Deutsche Grundstücksauktionen
DF Deutsche Forfait Empiric Student Property
Ernst Russ Experian
Fairpoint Group FBD Holdings
FCR Immobilien Ferratum Oyj
FinLab Freedom Holding Corp
Gable Holdings Gartmore Group
GCP Student Living German Startups Group
GLI Finance Grand City Properties
Hardy Underwriting Hargreaves Lansdown
Heartland New Zealand Helphire
Henderson Group Hiscox
HSBC Holdings ICAP
ICG-Longbow SSUP IE Financial
IFG Group IG Group
Impax Asset Management International Personal Finance
Is Yatirim Menkul Degerler JDC Group
Jupiter Fund Management Lancashire Holdings
Lighthouse Group Liontrust Asset Management
Lloyd Fonds London Stock Exchange Group
MAN Group Market Tech Holdings
Mattioli Woods MCB Finance Group
mic Moneysupermarket.com
MPC Capital MyBucks
NEOVIA Financial Noratis
Novae Group Numis Corporation
Nurnberger Beteiligungs Oakley Capital Investments
Ocean Capital Oekoworld
Omega Insurance Holdings OTC Markets Group
Panmure Gordon Park Group
Picton Property Income Powerhouse Ventures
Prudential publity
Quayle Munro Holdings Randall & Quilter Investment Holdings
RCM Beteiligungs Record
Rensburg Sheppards RSM Tenon
S&U Sanlam Securities UK
Scherzer & Co Schroders
Secure Trust Bank Share
Shore Capital Group St. James's Place
Supermarket Income REIT Syndicate Asset Management
Tawa The Dolphin Square Charitable Foundation
Town Centre Securities Tungsten Corporation
UmweltBank Warsaw Stock Exchange
WH Ireland WorldSpreads Group

Company news

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A N/A N/A N/A N/A N/A N/A
2017A 196.7 138.1 126.0 31.9 11.5 10.8
2018E 346.9 281.1 268.4 57.4 6.4 N/A
2019E 310.3 243.1 229.9 46.9 7.8 N/A

Last updated on 27/01/2019

Investment summary

JLG’s H118 results showed a 9.3% rise in the NAV per share and recent announcements from John Laing have confirmed that the market for infrastructure investment remained strong in H2. According to JLG, investment commitments for FY18 were £302m, ahead of original guidance of £250m due to two renewable commitments(£35m), entered in to in late 2018. The market for disposals also remains buoyant and JLG recently announced the completion of the sale of its holding in Manchester Waste TPS taking FY18 disposals to £295m (guidance £250m). JLG will announce guidance for FY19 investment commitments and realisations at its FY18 results (5 March). JLG's share price now stands at a c 12% premium to our FY18 NAV per share estimate of 318p reflecting expectations of continuing strength in the market for infrastructure investment.

Last updated on 01/02/2019

Industry outlook

Predicted population growth and a drive for increased renewable energy generation create a favourable outlook for investment in infrastructure projects.

Last updated on 01/02/2019

Key management

Dr Phil Nolan, Chairman
Olivier Brousse, CEO
Patrick Bourke, FD

Company address

1 Kingsway
London
WC2B 6AN
United Kingdom
+44 (0)20 7901 3200
View website