We are very encouraged by the further significant upgrades following SCE’s interim results announcement. This is over and above the upgrades from August’s new OEM 9 order. The order book is now £190m (£50m end-2020), with more rises promised before end-2022. The results, announced 5 September, cover a period where production ramp-up was impressive and the resilience of gross margins proven. The major milestone of profitability is achieved this half year. We raise 2024E EPS by 39%, on a 12% sales upgrade. Operational gearing is at play but also the confirmed continuing robustness of gross margins.
06 Sep 2022
Surface Transforms (SCE): Further new order, upgrades, production ramp-up
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Surface Transforms (SCE): Further new order, upgrades, production ramp-up
Surface Transforms PLC (SCE:LON) | 9.2 0 0.0% | Mkt Cap: 32.4m
- Published:
06 Sep 2022 -
Author:
Mike Foster -
Pages:
9
We are very encouraged by the further significant upgrades following SCE’s interim results announcement. This is over and above the upgrades from August’s new OEM 9 order. The order book is now £190m (£50m end-2020), with more rises promised before end-2022. The results, announced 5 September, cover a period where production ramp-up was impressive and the resilience of gross margins proven. The major milestone of profitability is achieved this half year. We raise 2024E EPS by 39%, on a 12% sales upgrade. Operational gearing is at play but also the confirmed continuing robustness of gross margins.