Sig Share Discussion Threads

[trinid2] 18/3/2022 18:48

its just down to buys , 2 massive buys today, that would certainly have helped to days closing price

[bugle4] 18/3/2022 18:44

It's the first time in about a year that SHI has finished green on consecutive Fridays.

I'm not much of a TA, it'd be nice to hear from anyone who is if this is significant?

[elongate] 18/3/2022 07:39

Dina Dasani has bought some too. £20000. Don’t care if it’s only a quid. It’s the thought that counts.

[elongate] 18/3/2022 07:21

Nice one Toley. I have given you a tick up.

[tole] 18/3/2022 06:37

Liberum: significant upside at SIGThe valuation of insulation group SIG (SHI) could double if the market starts to price in structural growth opportunities, says Liberum.Analyst Charlie Campbell retained his 'buy' recommendation but reduced the target price from 65p to 63p on the stock, which firmed 1.8% to 39.2p on Thursday.Campbell upgraded earnings per share estimates for SIG by 8-12% in 2022 and 2023, 'due to the momentum in margin improvement that was evident in the 2021 results, and higher selling prices carried forward'.'It has momentum in market share and gross margins, with operating costs controlled. Its valuation could double if margins hit the 5% target, and we see over 60% upside if the shares move to discount the 2023 target of 3%. The market may also start to value structural growth in its insulation businesses.'

[elongate] 14/3/2022 09:43

As I said, more acquisitions on the way soon. Cash neutral, so from cash generation and/or leveraging debt. It’s the growth plan, don’t you know.

[elongate] 11/3/2022 13:46

It is part of the growth strategy. Investment. Management made that choice.

Shi is spending to accumulate, and the inventory involved will not now come at any further increase in cost but with possibly improved margin on sales. I refer to Investors Chronicle who would like to see a bottom line profit ( cash neutral in their sights ) and have it as a hold and 44p.

‘Overall net debt jumped by £127mn to £365mn, though, as £124mn in cash flowed out of the business due to acquisitions and higher inventory spending as it sought to avoid supply shortages.’

Management is looking ahead. So should you. They have this in mind about spending and profitability.
‘We expect to be free cash flow neutral for the year, before returning to sustainable free cash generation thereafter, enabling us to continue to invest in and drive our strategic goals.’

[pictureframe] 11/3/2022 12:58

Looks like debt costs are going to impact profitability med term

[fuji99] 11/3/2022 09:07

Recent acquisitions - SM Roofing, F30 (construction accessories) and Penlaw (insulation), all
in the UK - are performing well, beating 2021 profit expectations, and fit our specialist model
• We see a clear opportunity to accelerate delivery against the strategic plan through targeted
investment in extending our product range, specialist solutions and footprint
As a result, SIG’s reputation and influence has been regained:
• Larivière (France Exteriors) awarded “2021 Best Specialist Distributor” (Geste D’Or 2021) and
UK Interiors awarded “Distributor of the Year” in the supply category (BMJ awards)
• SIG appointments to high profile leadership roles in key industry associations
• Increasingly viewed as an attractive and trusted home by prospective industry recruits and
M&A targets

[fuji99] 11/3/2022 08:23

2022 will be the year of recovery. Could reach £1 by December. I expect the insulation business particularly to perform strongly in 2022/23 as increase in heating costs and energy bills will push authorities towards more insulation in housing and buildings.

[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?