SGL has reported two acquisitions that will potentially commit a significant proportion of the c €95m being held awaiting investment, post February’s €120m placing (at 70c/share). That cash could currently earns only a negligible return on deposit, so completion of the two transactions (detailed below) should significantly enhance EPS and dividend cover, and may accelerate growth in distributions. Including debt at 60% LTV, we estimate that the group could finance c €230m+ of portfolio growth.
14 Jul 2015
Acquisitions to boost EPS from Q4
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Acquisitions to boost EPS from Q4
SGL has reported two acquisitions that will potentially commit a significant proportion of the c €95m being held awaiting investment, post February’s €120m placing (at 70c/share). That cash could currently earns only a negligible return on deposit, so completion of the two transactions (detailed below) should significantly enhance EPS and dividend cover, and may accelerate growth in distributions. Including debt at 60% LTV, we estimate that the group could finance c €230m+ of portfolio growth.