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BRCK Brickability Group Plc

0.00 (0.0%)
Last Updated: 08:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Brickability Group Plc LSE:BRCK London Ordinary Share GB00BK63S759 ORD GBP0.01
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 49.70 217,927 08:00:00
Bid Price Offer Price High Price Low Price Open Price
49.40 50.00 49.70 49.70 49.70
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Brick, Rel Constr Mail-whsl 681.09M 27.74M 0.0924 5.38 149.24M
Last Trade Time Trade Type Trade Size Trade Price Currency
12:40:13 O 2,000 49.5887 GBX

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Posted at 08/12/2023 08:20 by Brickability Daily Update
Brickability Group Plc is listed in the Brick, Rel Constr Mail-whsl sector of the London Stock Exchange with ticker BRCK. The last closing price for Brickability was 49.70p.
Brickability currently has 300,286,567 shares in issue. The market capitalisation of Brickability is £149,242,424.
Brickability has a price to earnings ratio (PE ratio) of 5.38.
This morning BRCK shares opened at 49.70p
Posted at 13/10/2023 10:14 by cordwainer
Yes, but "immediately earnings accretive" could be useful. But it is part debt-funded with potentially dilutive new share issuance in the future.

Quick review of Deferred Payments coming due from past Acquisitions. Some are subject to performance criteria. Hope I've not missed any out.

11/10/2026: Group Topek Holdings Ltd: up to £5.9M
11/10/2025: Group Topek Holdings Ltd: up to £5.9M
3/10/2025: ET Clay Products Ltd: £1.17M
1/6/2025: Modular Clay Products Ltd: £477K
31/3/2025: Beacon Roofing Ltd: £666K
11/10/2024: Group Topek Holdings Ltd: up to £5.9M
3/10/2024: ET Clay Products Ltd: £1.17M
2/8/2024: Leadcraft: up to £733K
2/6/2024: Taylor Maxwell Ltd: up to £13m
1/6/2024: Modular Clay Products Ltd: £477K
31/3/2024: Beacon Roofing Ltd: £666K
24/1/2024: HBS NE Ltd: £733K
7/12/2023: Alexander McCann : £175k
1/12/2023: Bathroom Barn: £107K

about £1.66M for this FY
up to about £22M for next FY+1
up to about £7.5M for FY+2
up to £5.9M for FY+3

..for now, until another acquisition is announced !
Oh, and there's also a JV in germany making roof tiles that might need refinancing or further investment at some point ?
Posted at 01/9/2023 07:12 by jeanesy
House prices falling at fastest rate since 09. Expect further downward price fall here.
Posted at 12/8/2023 18:31 by alter ego
Recent reports say commercial construction is still positive. Given BRCK supply most materials required i expect revenue to be holding up well despite slow houebuilding.
Posted at 19/7/2023 22:12 by alter ego
Essential investor, I don’t think so. Both Ibstock and Fortera make bricks. Brck doesn't, it distributes them from those makers. To me that says they are more dependent on Brck to shift their product.
The acquisitions you refer to have diversified Brcks market into just about everything required to build houses, offices or any commercial structure. Yes acquisitions create risk but the company is canny and says it seeks a minimum return of 20% on an acquisition. It has moved from having 80% of its revenue from bricks to less than 50% since Ipo.
If anyone in the building trade is going to weather the current storm I think BRCK are better placed but we all have to make up our own minds.
Posted at 18/7/2023 06:34 by tole demonstrates agilityBoard sticks to guidance targets despite market softnessBrickability demonstrates agilityJuly 17, 2023By Michael FahyCompany less reliant on housing, says chairmanShares are valued at a 50 per cent discount to peersWhen compared with peers, Brickability (BRCK) looks like an island of calm in an ocean of tumult.BRCK:LSEBrickability Group PLC1mthToday change2.36% Price (GBP)56.50As peers have warned about weakening earnings given the housing market slowdown, the building products group posted a solid set of results and remained upbeat about its prospects of hitting expectations in its current year, for which house broker Cenkos Securities is forecasting only a slight (1.8 per cent) decline in adjusted pre-tax profit to £39.6mn.In theory, Brickability should have been more vulnerable to a downturn than brickmakers such as Forterra (FORT) and Ibstock (IBST), given that it imports bricks and therefore incurs additional transportation costs. Forterra said last week that while demand for bricks had slumped by around 31 per cent in the first five months of the year, imports had fallen at a faster rate.Yet Brickability chair John Richards argued that brick imports, which made up 20 per cent of the market last year, have some defensive qualities. Most bricks made in UK factories are wire cut but planners in many parts of the south of England insist on the use of bricks moulded from soft mud to blend with the vernacular. These make up around 90 per cent of imports."Unless planners suddenly have a change of heart... that would still give [imports] a good foundation," Richards said.Moreover, despite its name, Brickability has been diversifying via acquisitions since its August 2019 IPO, with the Taylor Maxwell timber and facades business bought two years ago being the biggest. Although it proved to be a slight drag on margins as timber prices fell, these deals have reduced the company's reliance on the housing market. Brickability derived 80 per cent of its revenue from housing at the time of its float, but this has since fallen to 50 per cent, Richards said.Higher mortgage rates have weighed on prices across the sector and Brickability's shares now sit close to a two-year low, some 15 per cent below their listing price. Cenkos argued in a note that they "remain fundamentally undervalued", given a forward price/earnings ratio of 5.5 and an anticipated dividend yield of 6.2 per cent. The shares also trade at a 50 per cent discount to peers, according to FactSet.This looks like great value to those who believe in the long-term prospects of the UK's housing market, but in the short term the risk is demand will remain subdued and earnings potential under pressure. Hold.Last IC View: Hold, 70p, 28 Nov 2022
Posted at 17/7/2023 12:08 by km18
Brickability Group plc posted Final Results for FY23 ended 31st March 2023 this morning. Revenue increased by 30.9% to £681.1m, adjusted PBT increased by 28.5% to £44.6m and adjusted EPS increased by 18.6% to 11.93p. Trading in F24 so far has remained in line with expectations, the balance sheet also remains strong with net debt at £8m. Valuation is very attractive with forward PE ratio at 5.3x and dividend yield at 6.7% both comfortably top quartile for the sector. Share price remains in a near 2-year correction and lacks positive momentum, there is no near term rush to buy, particularly with housing directly in the firing line of higher UK interest rates. However, the longer run outlook for the sector and BRCK looks upbeat. This is certainly a stock worth monitoring for the longer run, but it remains in a correction for now...

...from WealthOracle
Posted at 17/7/2023 10:08 by gripfit
Good results .. share price not reacting .
Posted at 17/7/2023 08:13 by davebowler
Brickability reported FY23 results slightly ahead of recently upgraded forecasts and encouragingly, we are leaving FY24E forecasts largely unchanged. At the headline level, LFL revenue increased by 4% to £681.1m, with EBITDA up 30.4% to £51.5m. Given the market backdrop, this is an impressive result and underlines the benefits of its strategy to diversify its revenues. We believe near-term sentiment will remain a challenge, but the current valuation looks increasingly anomalous. The share price is sitting on a two-year low, 20% below its IPO listing price and now trades on a FY24E PE of just 6x and EV/EBITDA of 4x. This is despite continued delivery/outperformance against expectations. BUY.  Headlines: These are a strong set of results with revenue up 30.9% to £681.1m (inc LFL growth ex timber of 15.4%) and EBITDA up 30.4% to £51.5m (EBITDA margin: 7.6%). Net debt came in at £8.0m, in-line with recently revised expectations and reflecting the step-up in EBITDA, reduced working capital outflow and lower than expected capex. A final dividend proposed of 2.15p, gives a total dividend for the year of 3.16p, an increase of 5.3%. It is also encouraging to note the benefits of recent acquisitions, which have added scale and enhanced its client base.  Forecasts and outlook: We make minor changes to our FY24 estimates, with revenue and EBITDA unchanged. EPS falls back slightly (-3.1%) to 9.9p, reflecting a slightly higher tax charge. We take the opportunity to introduce FY25E forecasts, where we have assumed a nominal improvement in underlying trading. At the headline level, we assume YoY revenue, EBITDA and EPS growth of 3%, 6% and 6% respectively. These forecasts are based on no further deterioration in its core markets and also do not factor in any additional upside from acquisitions. We would note that trading in FY24E remains in-line with the Board’s expectations.  View: In our view, the stock remains fundamentally undervalued. When FY23 EBITDA forecasts were introduced in 2021, we were looking for EBITDA of £22m and EPS of 7p. Today, the group has delivered EBITDA of £51.5m (+134%) and EPS of 11.9p (+70%), the de-rating therefore looks overdone. The long-term fundamentals of the UK housing market look to be well underpinned and the need for Brickability’s service offering remains unchanged. As the market returns to examining underlying valuations, Brickability should firmly be on the radar in terms of a re-rating. BUY.
Posted at 26/4/2023 08:13 by davebowler
Cenkos-Brickability has released a positive pre-close update, confirming FY23E EBITDA will be ahead (c6%) of recently upgraded expectations at c£50m (Cenkos: £47.0m) and this should further reassure as to the resilience of its model. We remain surprised that the share price continues to lag a wider peer group who have experienced a re-rating YTD, despite delivering positive newsflow. In our view, the share price disparity between other related reference points (such as the Housebuilders and Distributors) will have to narrow. On a FY24E EV/EBITDA of 4.6x, this could prove to be a very attractive entry point. The group remains well placed to benefit from long-term structural growth trends, a diverse product mix and the ongoing price inflation in the system. BUY. 
Posted at 03/2/2023 13:37 by sphere25
All kinds of bullish moves out there. Barely done anything and pretty much all buy and holds have gone up. A very stark contrast of late compared to last year.

BRCK is well out of kilter with the wider market and sector as the price continually makes new lows. Markets are no longer fearing the worst and re-pricing shares from overly bearish positions with much more bullish moves based on individual fundamentals.

Clearly there are profit warning's too so each company has to be taken on its own merits - still very easy to get caught out. When looking at BRCK and how far the price has fallen, it might be that BRCK has been oversold.

This sector is seeing bullish momentum from the lows too. The house builders are continuing the positive momentum of late too. BRCK is lagging but someone has come in and picked up a notable 4m at 59p so it might be worth keeping an eye on to see if someone is trying to clear the sellers here to form a bottom and eventually a move similar to others.

Clearly it will depend on trading, but the doom and gloom hasn't happened and isn't forecast, so it could be a case of much more resilient trading. Now even if that means unspectacular growth, it could still be enough to warrant a bullish turn from oversold and overly bearish territory.

We will have to see how the year goes of course - it is hardly a one way street. The interesting thing is that someone isn't waiting and has bought a big chunk today and there is some decent demand for shares at these price points.

The chart is horrible though and it really needs to break 65p, but some possible tentative first bullish signs here with a big buyer coming in. Liquidity is playing a part here too. Fund managers have still been trying to sell out of less liquid shares which could present an opportunity in some.

So you could end up with a shorter term technical bounce too if enough sellers have been mopped up at these levels. Should there be a whopping big clear out, then clearly you could end up with a monstrous spike higher, but one step at a time.

Other interesting activity out there in positions I am in:

SRC - Some nice mopping up going on there with a stable chart but it is trying to stick its head above 60p for some possible follow through momentum and a breakout of the range.

MER - A couple of holders selling down but the market is gradually eating through the stale bulls and a tidy 1.45m picked up today. Some big buy orders on the book at 207p right now as well.

So a few things worthy of keeping an eye on.

All imo
Brickability share price data is direct from the London Stock Exchange

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