Sig Share Discussion Threads

[elongate] 11/3/2022 07:56

I told you 2022 would be Shi’s year. And so it will be.
One to hold now. But please yourselves.

[eringael] 11/3/2022 07:11

Good results - no reason to be in mid 30's

[skinny] 11/3/2022 07:08

.




A pivotal year: growing momentum

SIG plc ("SIG", "the Group" or "the Company") today announces its results for the full year ended 31 December 2021 ("FY 2021" or "the year").

Strategic highlights

-- Group back to underlying profit, driven by market share gains and margin discipline in challenging supply markets

-- Strategy delivering ahead of expectations, reinforcing the value of SIG's core model
-- Leadership further strengthened; platform for growth established; industry reputation regained and acknowledged

-- Accelerating revenue growth throughout 2021 against pre Covid-19 2019 comparators
-- EUR300m (GBP253m) bond issue in November 2021 further increases financial stability and longer-term flexibility

Financial highlights

-- Group like-for-like ("LFL") sales up 24% on prior year, and 8% up on non Covid-19 affected 2019; H2 growth of 15% vs 2019

-- Strong margin progression: H2 2021 gross margin of 26.6%, 70bps higher than H1 2021 and 120bps higher than H2 2020; underlying operating profit margin improved consistently throughout 2021

-- GBP41.4m underlying operating profit (2020 restated : GBP53.1m loss)
-- Statutory loss before tax for the year of GBP15.9m (2020 restated: GBP194.6m loss) after reflecting other items of GBP35.2m (2020 restated : GBP118.5m)

-- Net debt of GBP365.0m post IFRS 16 (2020: GBP238.2m) and GBP128.6m pre-IFRS 16 (2020: GBP4.1m), reflecting investment in inventory to optimise customer service at a time of supply shortages, as previously guided, as well as one-off costs related to refinancing and M&A investment

-- Gross cash of GBP145m; new and increased revolving credit facility ("RCF") of GBP50m remains undrawn

Current trading and outlook

-- Trading well in 2022 to date, and ahead of plan
-- Supply challenges being managed
-- Confidence in 3% Group operating profit margin for FY23, and in the Group's medium-term path towards 5%

-- Cash generation expected in H2; full year cash neutral


Restated
(5)
Change
vs
2021 2020 2020
------------ ------------ -------
Underlying(1) revenue GBP2,291.4m GBP1,872.7m 22.4%
LFL(2) sales growth 24.3% (13.3%)
Gross margin 26.3% 25.1% 120bps
Underlying(1) operating
profit/(loss) GBP41.4m (GBP53.1m)
Underlying(1) profit/(loss)
before tax GBP19.3m (GBP76.1m)
Underlying(1) earnings/(loss)
per share 0.3p (10.0p) 10.3p
Underlying
operating
margin 1.8% (2.8%) 460bps
Net
debt GBP365.0m GBP238.2m
Net
debt
(pre-IFRS
16) GBP128.6m GBP4.1m
------------------------------- ------------ ------------ -------

Restated(5)
Statutory results 2021 2020
------------------------------- ------------ ------------
Revenue(3) GBP2,291.4m GBP1,874.5m
Operating profit/(loss)(3) GBP14.0m (GBP160.0m)
Loss before tax(3) (GBP15.9m) (GBP194.6m)
Basic loss per share(3) (2.4p) (23.1p)
Total loss after tax
(4) (GBP28.3m) (GBP131.5m)
Dividend per share n/d n/d
------------------------------- ------------ ------------

1.Underlying represents the results before Other items. Other items have been disclosed separately in order to give an indication of the underlying earnings of the Group.

2. Like-for-like ("LFL") is defined as the growth/(decline) in sales per working day in constant currency excluding any current and prior year acquisitions and disposals. Sales are not adjusted for branch openings or closures.

3. Statutory results of continuing operations only in 2020.

4. Statutory results including both continuing and discontinued operations in 2020.

5. 2020 restatement is due to the change in accounting policy regarding configuration and customisation costs incurred in implementing cloud computing arrangements following the IFRS Interpretations Committee (IFRIC) Agenda Decision published in April 2021.

Commenting, Steve Francis, Chief Executive Officer, said:

" 2021 was a pivotal year - accelerating progress on our strategy has returned the Group to profitability ahead of expectations, delivering above market growth rates and consistent margin improvement, the result of record performance in France and Poland, and strong turnaround in the UK."

"In uncertain times, SIG demonstrated in 2021, as it has in previous decades, its ability to manage successfully through inflationary and volatile market conditions, thanks to our strong relationships with suppliers and customers, and the quality of our people."

"Growth momentum, resilience of our businesses, and experienced leadership all underpin our confidence in the organic growth path towards 5% underlying operating margin in the medium term."

"I'm proud that SIG has a long-established focus on energy efficient solutions, and we will play a leadership role in the shift to sustainable construction."

"SIG is back to winning ways, and we look forward to 2022 and beyond with confidence."

[ayl30] 11/3/2022 07:04

Good results today

[elongate] 09/3/2022 15:30

Showing considerable posting restraint on Shi. Here and lse. Quite unusual and strange for these chat shows, don’t you think?
I do.
Makes you wonder.
Could be a few wolves in sheeps clothing in the Shi flock.

[elongate] 09/3/2022 10:29

Doing alright so far - lifting before and after the pension fund notification ( we will never know what prices they paid ) - but it will have to do a lot better for the non-execs to profit from their 50p buys end of last year. They will have had further horizons than most who inhabit these chat shows.

[elongate] 07/3/2022 18:05

Picking up from a post on lse and a cursory check, they previously held nearly 4% ( perhaps more ) and went out completely on the face of it.
It is a large pension fund, with heavy responsibilities, and presumably with the quality enquiry ability and advice to go with it. Obvs. they believe it is safe to go back in now.

[elongate] 07/3/2022 17:19

3%, so must see a mid/longer term future for it. Buying on the way down, though may have bought some off market.

[zho] 04/3/2022 18:12

SHI shares struggling but " Brtain's construction sector grew at its fastest pace since mid-2021 in February as disruption from the Omicron coronavirus wave eased and input costs rose at the slowest pace in nearly a year, a survey showed on Friday."

[elongate] 23/2/2022 09:55

Getting towards full year results and forecasts. 11th. March 2022.

[elongate] 18/2/2022 08:03

Social Housing retrofit.

Some more on that, adding to revenue potential. More to come.

The first wave of funding for the Social Housing Decarbonisation Fund has been announced and highlights the “power of collaboration”, with a consortium led by Nottingham City Council winning the largest share #UKhousing #SocialHousingFinance
Nottingham City Council has cited the “power of collaboration”, after a consortium it led in partnership with the Midland Energy Hub (MEH) was awarded £14.9m – the largest tranche.

The Department for Business, Energy & Industrial Strategy (BEIS) announced a package of £179m to be split between 69 projects and upgrade around 20,000 social homes to make them more energy efficient.

Previously, the energy department has said it rewards the “best quality bids”.

The cash boost forms part of the government’s commitment of £3.8bn for the SHDF.

The works will upgrade properties of Energy Performance Certificate (EPC) Band D or lower, by fitting external wall and roof insulation, energy-efficient doors and windows, heat pumps and solar panels.

Upgrades are expected to be completed by the end of March 2023.

[elongate] 16/2/2022 12:26

16th February 2021

The Construction Leadership Council (CLC) has appointed SIG UK as one of the latest CO2nstructZero Business Champions through the company’s commitment to reach net zero in scope 1 and 2.

SIG UK has developed a UK road map for current initiatives to achieve this goal, including setting annual targets for the business.

The company is also working closely with suppliers to understand their sustainability goals and has implemented additional information requests to capture product and manufacturer sustainability information which SIG UK is using to drive greater clarity and awareness down the supply chain.

Lorna Stork, environment, sustainability and governance director of SIG UK, said: “Becoming a CO2nstructZero Business Champion helps demonstrate the commitment by SIG UK to net zero targets.

“I believe SIG UK is uniquely placed to help drive change in the industry and by becoming a Business Champion, the business is better placed to help implement real change and support the industry become net zero by 2050.”

[rik shaw] 16/2/2022 11:12

ADVFN make it easy by including all the info in the financials tab at the head of the page.

[gargoyle2] 15/2/2022 14:55

Why don't you look it up?

[qsmeily456] 15/2/2022 14:48

What's the numbers here?

PE?
Shares in issue?
EBITDA?

[elongate] 10/2/2022 08:47

Correlation between heating bills and energy efficiency - obvs. including insulation. And net zero carbon. A start on retrofit, albeit slowly, is being made through social housing. On the private side, I would idc be unsurprised to see improved EPC rating linked to stamp duty, some form of incentive.

Specification online.
10th February 2022. 0723

The Government recently announced that 20,000 social housing properties with an Energy Performance Certificate (EPC) rating of D or lower receive upgrades to improve their energy efficiency and reduce carbon emissions. This includes fitting external wall and roof insulation, energy efficient doors and windows, heat pumps and solar panels.

Upgrades are expected to be completed by the end of March 2023, supporting thousands of lower income and more vulnerable households.

The cash boost forms part of the government’s £3.8 billion Social Housing Decarbonisation Fund which will bring a significant amount of the social housing stock currently below EPC C up to a higher standard.

It has already supported 2,100 households through a demonstrator scheme, delivering warmer homes, reducing fuel bills, tackling fuel poverty and supporting green jobs.

Minister for Business and Energy Lord Callanan said: “The UK has a strong track record in improving the energy performance of its homes and this funding will continue that as we deliver huge benefits for social housing residents – ensuring they keep more of their cash.

“The £3.8 billion we’re investing through the Social Housing Decarbonisation Fund is helping drive down energy bills for thousands, targeting help to those who need it most by making their homes warmer, more comfortable and greener.”

[eringael] 09/2/2022 15:18

Waiting for the Yankee knockdown usually around 2-4 in the afternoon

[elongate] 09/2/2022 10:54

THINK Economic and Financial Analysis
9th February 2022

EU Construction Outlook: Contractors’ optimism rising despite building material shortages

More growth expected for EU construction sector

We expect further growth in the EU construction sector this year and next, despite a continuing shortage of some building materials. The EU Construction Confidence Indicator was positive at the start of 2022. Building volumes should be boosted by fresh investment from the EU recovery fund

In general, our EU Construction Outlook remains optimistic. Despite the shortages of building materials and structural shortages of labour, we expect further growth in the EU construction sector in 2022 and 2023. Building volumes can be boosted by new investments from the EU Recovery fund. Ongoing housing shortages and high house prices provide structural demand for new residential construction. Furthermore, non-residential construction will see a rebound as the Covid-crisis fades, and entrepreneurs are less reluctant to invest in new company premises or renovate their existing properties.

[elongate] 26/1/2022 10:41

26th January 2022

SIG UK has become a partner of the Supply Chain Sustainability School (SCSS), which will provide resources to help the supplier lead the conversation on sustainable building practices both internally and within its supply chain.

SIG UK will encourage suppliers to join the school, making use of the learning modules available and raising awareness of sustainable practices and prioritise using and contributing to the development of the Carbon Calculator Tool.

SIG will also be encouraging its supply chain to submit data for better insight into total carbon output and where improvements can be made.

Lorna Stork, the environment, sustainability and governance director for SIG UK, plans to use this partnership to raise awareness internally through creating 25 ‘ChampionsR17; within SIG UK, who will receive a custom development pathway, she hopes to embolden teams to lead sustainability conversations.

She commented: “I’m excited about the partnership with the SCSS, being able to lead the conversation and drive awareness for sustainability is a key goal for SIG UK. We’re keen to ensure our teams and supply chain are leaders in sustainable building and the school will be a key pathway making this happen.”

[elongate] 20/1/2022 13:34

Strengthening the team, continuing the policy of tempting previous talent back - formerly at Shi as Regional Sales Director NW, Sales Director Interiors, and Director Brand Strategy.

20th. January 2022
SIG UK has appointed Jason Hemingway as sales director for national accounts as he returns to the company.

With a career spanning 32 years in the construction industry including product manufacturing, distribution and, most recently, learning about the building services industry through a leading trade body, Jason is expertly placed to understand the requirements of both suppliers and customers.

Jason will focus on enhancing the national account offer and lead the account team. Through adding to the team’s expertise and understanding, they will be able to offer the full SIG UK product mix resulting in more customer-focused solutions.

Furthermore, through developing stronger relationships with suppliers and subcontractors, Jason plans to provide more a most holistic solution for customer projects. In achieving these, Jason hopes to further raise the profile of SIG UK within the world of major projects and contractors.

Commenting on his appointment, Jason said: “It’s an exciting time to join SIG UK, there has been a lot of positive change, putting customers fully in focus, and it’s great to see the enthusiasm the team have for this direction. I’m looking forward to being part of the journey for SIG UK in 2022.”

Watch the company, not the day’s price.

[elongate] 19/1/2022 20:08

2 entries. Delayed reporting. Probably direct between 2 parties and notified. A cool £million apiece. One out, one in?

19-Jan-22 13:17:12 41.70 3,021,000 Unknown* 42.00 42.24 1m
19-Jan-22 13:17:10 41.70. 3,021,000 Unknown* 42.00 42.24 1m

You can bet on one thing. Somebody has bought them. Watch the company, not the day’s price.

[elongate] 17/1/2022 14:32

hxxps://www.heatingandventilating.net/insulation-choice-key-in-reaching-carbon-target

The news from government, which will see Revised Building Regulations coming into play from June 2022, means all new buildings must reduce their carbon emissions. This includes a 30% reduction for new homes, while carbon emissions for new non-domestic properties must be reduced by 27%.

Insulation will ultimately have a major role to play in achieving these targets, however Jolyon Berg, head of technical at CCF, is urging those in the construction industry to evaluate product choices and maintain best practice. He explains, “Only with robust selection of the right products and correct installation, can all the benefits of insulation be realised. This obviously includes improved energy efficiency which helps to cut carbon emissions, but also includes a range of other factors.”

Ducks in a row. Quack Quack Quack

[zho] 14/1/2022 08:57

Construction output rose 3.5% in November

[elongate] 12/1/2022 09:12

The company has done well to turn around since CD and R took it on. Shi plan to grow this year. I do not refer to holders here, but on this particular main market share with private equity backing people would do better to follow directors’ ( who know what is happening ) transactions, rather than the whims of punters ( who don’t)