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SCISYS (SSY)

Business description

SCISYS provides a range of professional services in support of the planning, development and use of computer systems in the space, media/broadcast and defence sectors, as well as to other public and private sector enterprises.

Stock data

Market cap.£54.3m
Last close184.00p
High / Low (52 weeks)194.0p / 93.5p
Stock market listingLN
Forecast net debt (£m)3
Forecast gearing ratio (%)11
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual5.113.984.9
Relative *6.114.978.5

* % Relative to local index

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Company news

Scisys Plc

Wed, 01 Jun 2011 16:35:29 GMT

Is SciSys plc (LON:SSY) Undervalued?

Wed, 02 May 2018 11:03:45 GMT

Scisys' ANNOVA Acquisition Boosts Revenue But Leads To Interim Loss

Thu, 21 Sep 2017 10:07:30 GMT

SciSys plc's (LON:SSY) Poor Growth Outlook Brings Concerns

Wed, 04 Apr 2018 15:00:00 GMT

SciSys plc (AIM:SSY) Quant Signal & Valuation At a Glance

Mon, 14 May 2018 22:52:30 GMT

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 45.7 4.0 3.0 9.2 20.0 15.5
2017A 57.2 5.6 3.8 10.0 18.4 5.2
2018E 56.0 6.2 4.4 12.0 15.3 7.9
2019E 60.1 6.7 5.0 12.7 14.5 8.6

Last updated on 20/09/2018

Investment summary

SCISYS has reported a strong H1 with professional fees jumping 24%. However, this was off a weak H117 and some business was brought forward from H2. Consequently, we are forecasting a more balanced H1/H2 in FY18. We have increased our FY18 revenues by £3.0m to reflect this balancing, but we have maintained our profit forecasts. All divisions posted record revenues, the order book remains robust at close to £100m and net debt continues to decline. Management’s goal of £60m in revenues and double-digit margins within the next few years looks increasingly conservative and we believe the stock is solid on c 14.6x our FY19e EPS.

Last updated on 20/09/2018

Industry outlook

SCISYS is a specialist provider of high-value IT solutions, focusing on specialist markets of space, media and broadcast, and defence sectors, along with other public and private sector enterprises. In recent years, weakness across the group's significant public sector customer base has been offset by strong performances from space and defence. The acquisition of ANNOVA Systems in 2016 added critical mass to the Media & Broadcast activities while extending the previous radio-focused offering into television and online.

Last updated on 27/07/2018

Key management

Mike Love, Chairman
Klaus Heidrich, CEO
Chris Cheetham, FD

Company address

Methuen Park
Chippenham
Wiltshire
SN14 0GB
United Kingdom
+44 (0)1249 466466
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