Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on 1SPATIAL PLC. We currently have 23 research reports from 3 professional analysts.
|24Nov16 05:23||RNS||Holding(s) in Company|
|18Oct16 07:00||RNS||Interim Results|
|11Oct16 07:00||RNS||HERE Reseller Agreement|
|20Sep16 09:40||RNS||Chairman Appointment|
|01Sep16 04:49||RNS||Chairman Appointment Process|
|30Aug16 03:28||RNS||Holding(s) in Company|
|14Jul16 07:00||RNS||Director Declaration|
Frequency of research reports
Research reports on
Looking for the turning point
16 Nov 16
While 1Spatial’s financial performance in H1 was somewhat disappointing, we believe that the company took a number of strategic steps towards building a scalable platform for growth over the period. With the Geospatial order book up 30% since year end, a pipeline of licensing deals to close and the Esri relationship starting to generate recurring subscription sales, we believe that its financial performance should turn a corner in H2. If it does then 1Spatial’s shares are substantially undervalued.
N+1 Singer - 1Spatial - Transitioning model; unchanged FY guidance
18 Oct 16
1Spatial delivered a soft first half performance showing slower revenue development in its higher-margin Geospatial business, thereby impacting overall adjusted EBITDA. The group has a strong order book (of which the Geospatial component is up 30% y-o-y) and has built up a solid pipeline of opportunities which it expects to convert in the next six months. As such, the group is maintaining guidance for the year, albeit performance will be heavily H2-weighted. We believe the 1.1x EV/Sales and 6.2x EV/EBITDA Jan’17 rating does not reflect the potential of an IP-rich, productised business that is leveraging partnerships to scale growth – but recognise that stronger revenue traction is required to buoy confidence and drive the re-rating of the shares.
N+1 Singer - Morning Song 11-10-2016
11 Oct 16
Victrex’ year end update confirms a strong Q4 performance, driven by the anticipated surge in demand from its large consumer electronics programme. Full year volume and revenue are both a touch ahead of our forecasts and consensus expectations. Invibio has delivered a steady year, in line with expectations, and the Magma oil & gas project has delivered its first meaningful revenues of over £1m. The outlook reiterates previous caution over the consumer electronics outlook but we believe this is now reflected in most analysts’ forecasts, including our own. There is no mention of currency, but this is clearly a strong tailwind for FY17 and, if current rates persist, into FY18. Overall, today’s statement should be well received. There was a lot to do in Q4 and Victrex has delivered it. In our view, the FY17 rating of 16x with a 6% yield (inc. 3% special) represents an attractive entry point for this high quality group.
N+1 Singer - 1Spatial - HERE Reseller agreement
11 Oct 16
1Spatial announced it has entered a reseller distribution agreement with HERE, a leader in navigation, mapping and location experiences. This follows the strategic partnership announced between the two parties last January and was formed to fulfil key enterprise account requirements and market opportunities. 1Spatial continues to carve relationships with key vendors in the geospatial data technology market, providing proof points of its value in the ecosystem.
US government deal
12 Jul 16
1Spatial has announced that its US subsidiary has signed a $1.7m contract with a US government bureau. The deal highlights the progress the company is making in the US since its acquisition of LSI and provides support to our FY17 estimates, with the majority of the project expected to be delivered this year.
Expanded integration into Esri
07 Jul 16
1Spatial has announced that its 1Integrate product is being integrated into Esri’s field worker solution, Collector for ArcGIS. This significantly expands the company’s addressable user base within Esri and marks a further step forward in the company’s open technology strategy.
Panmure Morning Note 30-11-2016
30 Nov 16
RPC, the international plastics products design and engineering group, has delivered yet another strong set of results (1H17 EBITDA +65%, EPS +45%). At the interim stage PBT was +66% (materially better than we had forecast). Topline growth has principally being driven by acquisitions (GCS + BPI), though organic remains a feature (and crucially remains at levels consistent with FY16). The two recent acquisitions have quickly been assimilated into the panEuropean platform and management has raised cost synergy guidance (again).
N+1 Singer - Morning Song 30-11-2016
30 Nov 16
Sanderson has delivered full year results in line with expectations and the 19 October trading update after a strong finish to the year compensated for a slower start. A healthy level of pre-contracted recurring revenue (50%), incremental sales to existing customers and new customer wins at higher average order values helped deliver solid revenue growth in both the Digital Retail (+9%) and Enterprise (+12%) divisions. A decent order book and good sales momentum suggest that the company is on track to deliver on unchanged profit expectations for the current year. We continue to view the valuation (FY17 EV/EBITDA 8.6x) as undemanding given an attractive combination of accelerating growth potential, strong cash generation and growing dividends.
Panmure Morning Note 02-12-16
02 Dec 16
Today James Halstead will be holding its 101st AGM. Trading during the first part of FY17 has been mixed, with some notable challenges. However, movements in FX (i.e. weak sterling) is boosting reported earnings, offsetting UK volume trends and pricing pressures. Whilst earnings are likely to be second half weighted, the picture is in-line with expectations and we are leaving our FY17 PBT estimates unchanged (£47.4m in FY17 vs £45.4m FY16).
06 Dec 16
600 Group* (SIXH): Interim results: order book showing signs of improvement (CORP) | Real Good Food* (RGD): Commodity volatility impacts numbers (CORP) | Minds + Machines* (MMX): .vip goes live in China (CORP | Imaginatik* (IMTK): Interims (CORP) | iomart* (IOM): Quality business as usual (CORP) | Fulcrum (FCRM): Upgrades continue (BUY)
02 Dec 16
On 30 September 2016, when the company announced its full year results, it reported that the UK business had seen a slow start to the year, with particular weakness in repair and renewal spending by the NHS as well as “reticence” in the education sector. However, with the UK only representing about a third of the business, this weakness was expected to be more than offset by the positive effect of a weakened sterling on its overseas business, given the benefits for competitiveness and margins.