Synthomer Share Discussion Threads

[my retirement fund] 31/1/2023 13:34

still well priced for a cheap take over!

[tuftymatt] 31/1/2023 12:55

Yeah on a soft day too it's done well.

Maybe we can draw a line under 145 and push on??

[w1ndjammer] 31/1/2023 12:03

Well bit of a dip but no heavy selling, so all well…

WJ.

[hamhamham1] 31/1/2023 08:05

174p/140p auction, maybe come out 158p?

[tuftymatt] 31/1/2023 07:56

I agree that most of the "bad news" is priced in and while I expect it to fall today I think long term it will play out and 200 could be seen later this year.

Good luck all 👍🏻

[brianblu] 31/1/2023 07:55

Yes I agree hamham patience is key

[hamhamham1] 31/1/2023 07:42

I think its relatively good.
Ebitda of 265m, upto 150m in cost savings, 198m from sale, overall that should reduce net debt, and with china coming alive, think this will do just fine.
Am here on a 3yr hold roughly, my target is 5 quid, say what you want, that's my target, and personally I think that it will be bought in 12-18 months for 4+ quid, but hey let's see.

[source] 31/1/2023 07:29

Not a great outlook statement. Suggest more weaknesses going forward. Not sure if the share price doubling since Oct supports a recovery story yet.

[archy147] 31/1/2023 07:15

Not much to get excited about there.

Assume though the market has already priced in the worst? Covid low was 204p compared to the 154p we're at now.

[hamhamham1] 31/1/2023 07:09

31 January 2023

Synthomer plc
Post-close update for the year ended 31 December 2022

Synthomer plc ('Synthomer' or the 'Group') today announces full year 2022 revenue of £2.6bn and expected underlying EBITDA in the range of £262-268m, consistent with the Board's expectations as set out in mid-December 2022 and company-compiled consensus of £268m1. As anticipated, net debt was just over £1bn as at 31 December 2022.

The deterioration in macroeconomic conditions through the second half of 2022 reduced demand in Synthomer's construction and coatings end markets, as previously indicated. This was most pronounced in the Group's European businesses, but Synthomer's operations outside Europe including its Adhesives division were also affected in the last quarter of the year. As previously indicated, whilst underlying end market demand for medical gloves remains robust, the Group does not expect the current period of destocking, and hence low nitrile butadiene rubber (NBR) production levels, to abate before the end of 2023.

Synthomer is making good progress on its plan to deliver cash savings of between £150m and £200m by the of end 2023 from strategic initiatives and operational actions to reduce costs, capital expenditure and working capital, with year end inventory levels for example reduced by c.£80m or c.16% for the continuing Group versus 30 June 2022.

The Group's divestment of its Laminates, Films and Coated Fabrics business is on track to complete in Q1 2023 following shareholder approval, with the net proceeds of c.US$245m (c.£198m) to be used to reduce debt. Discussions are progressing with the Group's banking syndicate to extend the duration of Synthomer's core financing arrangements.

Synthomer will update the market further when it reports Full Year 2022 results on Tuesday 28 March 2023.

[fuji99] 12/1/2023 11:02

Thanks a lot Tufty !

[tuftymatt] 11/1/2023 16:52

A good day after yesterday and I wasn't brave enough to buy more at the start though.

fuji, please see below.


Expected timetable


-- The Proposed Transaction constitutes a Class 1 transaction for the purposes of the Listing
Rules, and therefore requires the approval of Synthomer's shareholders. A circular containing
further details of the Proposed Transaction and a notice convening a general meeting of Synthomer
will be sent to Synthomer's shareholders in due course
-- The Proposed Transaction will also be conditional on certain regulatory approvals, customary
closing conditions and certain other conditions
-- Assuming satisfaction or waiver of all conditions to the Proposed Transaction, Completion
is expected to occur in Q1 2023

[fuji99] 11/1/2023 16:50

Any progress on the proposed Sale of Laminates, Films & Coated Fabrics ? Is the deal done ? If not gone ahead, any effects on the share price ?

[tuftymatt] 10/1/2023 17:54

General negative sentiment out there I think.

Nothing specific to SYNT in my opinion and hopefully it proves to be a chance for a small top up.

[johndoe23] 10/1/2023 17:22

Just usual peaks and troughs. Looking at the chart there might be a pullback to 135-140 region

[hamhamham1] 06/1/2023 18:53

It will ;)

[bigbigdave] 06/1/2023 15:50

Getting very close to a breakout here.

[hamhamham1] 04/1/2023 18:05

Have you seen who is stake building here ;)

[tuftymatt] 02/1/2023 09:22

The above link was written almost 2 years ago. Don't get me wrong as a bid or interest of one would be great but that's old news.