iEnergizer has released interim results for the 6m to 30 Sep 2019. Revenues for the period were $96.2m, with Adj, EBITDA of $29.1m and Adj. Dil. EPS of $0.11, against full year expectations of $193.0m revenues, $54.0m Adj. EBITDA, $0.21 Adj. EPS. We leave FY20E/FY21E P&L forecasts unchanged, noting several isolated tailwinds in H1’20A. Payment of an interim dividend of 5.2p (ex-div 21 Nov) yields 4.6% FY20E, supported by FCF of 6.3% FY20E. We reiterate our Buy rec. with 345p TP (15x
13 Nov 2019
Interim results FY20E – trading in line
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Interim results FY20E – trading in line
- Published:
13 Nov 2019 -
Author:
James Bayliss -
Pages:
3
iEnergizer has released interim results for the 6m to 30 Sep 2019. Revenues for the period were $96.2m, with Adj, EBITDA of $29.1m and Adj. Dil. EPS of $0.11, against full year expectations of $193.0m revenues, $54.0m Adj. EBITDA, $0.21 Adj. EPS. We leave FY20E/FY21E P&L forecasts unchanged, noting several isolated tailwinds in H1’20A. Payment of an interim dividend of 5.2p (ex-div 21 Nov) yields 4.6% FY20E, supported by FCF of 6.3% FY20E. We reiterate our Buy rec. with 345p TP (15x