Household Goods & DIY equity research

Explore the most viewed and latest equity research and media content for companies within the Household Goods & DIY sector. Stocks in this sector include those who specialise in: decoration, furnishing, durable & non-durable home products, and DIY.

Household Goods & DIY equity research

Explore the most viewed and latest equity research and media content for companies within the Household Goods & DIY sector. Stocks in this sector include those who specialise in: decoration, furnishing, durable & non-durable home products, and DIY.

Latest Content

Husqvarna

Disappointing Q3 17, good growth on a rolling 12m period

Q3 17 was below expectations. The main disappointment was sales with total growth of +1% and +4% excluding the currency effects and including a scope effect in the Construction division. Restated to before the change in perimeter, organic growth is estimated at c.+2%, below our expectation (+5%E). Q3 17 figures: - Sales reached SEK7,449m (+1%, +4% at constant currency). Restated to before the change in perimeter (Pullman Ermator and HTC in the Construction division), organic sales are estimated at 2%. Organic sales growth at Husqvarna (+2%), Gardena (+3%) and the Construction activity (+5%) were all below expectations. Organic sales decreased in Consumer Brands (-5%). - Operating income was flat at SEK433m (+0.5%) due to restructuring costs of SEK50m in the Construction division related to the integration of the acquired companies. This was not a surprise as restructuring costs (SEK65m estimated) were announced in August 2017. Conversely, the currency effect was positive at the operating level (SEK+40m). The reported operating margin was rather stable (5.8% of sales, -0.1pt) and would have been higher excluding the restructuring costs (6.5% of sales). - Group net profit was SEK210m (+2.4%) after lower net financial expenses (-16%) and higher income tax rate (+3pts to 36.2%). 9 months 2017: - Sales reached SEK33,264m (+10%, +7% at constant currency and including a positive scope effect). Operating income was up to SEK3,860m (+16%), corresponding to a margin rate of 11.6% of sales (+0.6pts). Group net profit was SEK2,593m (+16.8%) after higher net financial expenses (+8%) and a rather stable income tax rate (+0.1pt to 25.6%). - The operating cash flow surged by 23% to SEK3,776m after a favourable change in inventories while capex increased by 9% to SEK1,147m. Investments in shares were significant (SEK1,628m) and corresponded to the acquisitions in the Construction division. - On 30 September 2017, total net debt (net financial debt and pension liabilities) amounted to SEK6,440m, close to the level in Q3 16.

  • 20 Oct 17
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Small Cap Breakfast

Totally (TLY) - Sch 1 for £11m RTO of Vocare, a provider of integrated urgent care services to the NHS throughout the UK. £76.8 million rev in the year ended 31 March 2017. Totally to address Care Quality Commission concerns. Due 24 Oct. Central Asia Metals (CAML) -RTO of Lynx Resources. Anticipated market capitalisation at Admission: £404.8m. Raising £113m at 230p. Acquiring the SASA zinc-lead mine in Macedonia from Solway Industries. Due 15 Dec. Springfield Properties—Scottish housebuilder. “Our turnover exceeded £100 million for the first time this year and now we employ around 500 people. This IPO is the next step in our growth.” Expected Mid October. Offer TBA. OnTheMarket—Intention to float on AIM to raise c.£50m which will be used to fund the growth of the OnTheMarket.com portal, already the third biggest UK residential property portal provider. Expected valuation £200m to £250m. Orogen plc, to be renamed Sosandar plc on Admission. Sosander is an online womenswear brand specifically targeted at a generation of women who have graduated from younger online and high street brands, and are looking for affordable clothing with a premium, trend-led aesthetic. Offer to raise £5.3m with market cap of £16.1m, expected 2 November 2017 OG Graphite, brownfield development-stage graphite company focused on the reactivation of its wholly-owned Kearney natural flake graphite mine and mill located 280 km north of Toronto, Canada. Offer TBA, expected late october .

  • 11 Oct 17
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