Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on SINNERSCHRADER AG. We currently have 9 research reports from 1 professional analysts.
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Another strong year expected
02 Feb 17
The Q1 results point to another year of solid revenue growth and further EBITA margin expansion. While SinnerSchrader’s P/E rating has caught up with its peer group, we see scope for further ratings expansion given the solid organic growth outlook, strong balance sheet and the strategic value SinnerSchrader (SZZ) may hold in a consolidating segment. The c 3% dividend yield (up 70bp) should also provide strong support.
Dividend increased 67%
28 Nov 16
SinnerSchrader (SZZ) expects another year of double-digit revenue growth and margin improvement in FY17, underpinned by the Audi win. This confidence is reflected in the 67% increase in the dividend to 20c. This should provide strong support to the shares which, on an FY17e P/E of 16x, trade in line with SZZ’s wider peer group, although still at a discount to closest German peer Syzygy.
A solid finish to a strong year
19 Oct 16
SinnerSchrader (SZZ) has reported a solid finish to an excellent financial year, which saw double-digit growth in underlying revenues and EBIT margin expansion. With some significant client wins announced, most recently Haspa and Audi in July, we believe FY17 will be another strong year and see scope for continued share price appreciation. We leave forecasts unchanged.
Audi win - gear change for group
19 Jul 16
SinnerSchrader (SZZ) reported 25% underlying revenue growth in Q3 and, while staffing constraints are putting renewed pressure on margins, we are confident about the medium-term outlook for the group, which was recently selected by Audi as its worldwide digital lead agency, marking a gear change in SZZ’s profile. The shares have performed well, yet the rating remains at a significant discount to agency peers – unwarranted given momentum and the outlook.
Coming of age
12 Feb 16
SinnerSchrader (SZZ) has had a good start to the year. Underlying revenues grew 8% in Q116 and visibility has improved. Additionally, the closure of Next Audience (NA) is in sight, and with an ongoing focus on the bottom line, we expect to see sustained EBITA margin improvement. On a meaningful P/E discount to peers in FY16, and with trade interest in the sector high, the shares offer a potential 30-80% upside.
20 Feb 17
Hayward Tyler Group* (HAYT): Trading update and financial position (CORP) | Petra Diamonds (PDL): Interim results (BUY) | Gemfields* (GEM): Interim results (CORP) | Premaitha Health* (NIPT): Middle East momentum (CORP) | Sound Energy (SOU): Acquisition update and TE-8 well spud (HOLD) | Proactis* (PHD): Interim trading on track (CORP) | 7digital* (7DIG): Automotive contract win (CORP)
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
N+1 Singer - Small-cap quantitative research - New quality style screen + 11 quality focus stocks
09 Feb 17
We introduce our fourth and final style screen representing “quality”. This screens for stocks with the best combination of high returns on capital/equity, EBIT margins and operating cash-flow conversion rates. These criteria should help us monitor how strong underlying returns translate into share price performance over time and under varying market conditions. The screen selects the “best” 25 stocks from our universe of just over 500 stocks and, as usual, we focus on a shorter list of stocks we cover or otherwise know and believe to be particularly interesting. We provide brief investment summaries on these focus stocks on pages 4 – 9. We will monitor performance and refresh the screen in approximately 3-4 months time.
Small Cap Breakfast
16 Feb 17
Saffron Energy—Schedule One update. Raising £2.5m, expected Mkt Cap £7.7m. Admission due 24 Feb. Italian Oil & Gas Play Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb. Arix Bioscience — Intention to float on the main market from the global healthcare and life science Company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management
13 Feb 17
Surface Transforms* (SCE): H1 results confirm operational progress (CORP) | Premaitha Health* (NIPT): European diagnostics partnership (CORP) | Lok'nStore* (LOK): Filling existing stores, developing new ones (CORP) | Victoria* (VCP): Entry into the European flooring market (CORP) | eg solutions* (EGS): Exceptional H2 performance (CORP)
Share & share alike
14 Feb 17
The rally in the last fortnight, highlighted in the table, reflects a continued flow of positive updates and economic news. The FTSE 250, Small cap and Fledgling indices have reached record highs. We are in the lull ahead of results for those companies with a December year end, a welter of economic data regarding the UK economy, the State of the Union address in the US on 28 February and the UK Budget on Wednesday 8 March. We will learn at that stage the latest forecasts from the Office of Budget Responsibility. As highlighted previously, the reaction to corporate updates will continue to set the tone.