Synthomer Share Discussion Threads

[eigthwonder] 08/5/2024 17:36

Knowing a little how these things work….Numis are broker to fellow speciality chemicals outfit Elementis but not Synthomer; I doubt the analyst will ever be more positive on SYNT than ELM.

[thebears1] 08/5/2024 14:13

Typo I cannot believe there will be a bad update .....

[thebears1] 08/5/2024 14:13

Likewise a small top up at 2.71I cannot believe there will be a Bird update tomorrow in view of the recent mid March update and refinancing.Then again, I was confident about WOSG after the directors bought a load at the end of last year and then they came out of the profit warning in January! Fingers crossed

[liam1om] 08/5/2024 12:27

I guess because its a "Hold" rather than a buy plus we havent read the full note. Been on a good run, so I guess some profit taking is normal before the update.

I've personally been buying on the weakness today.

[albanyvillas] 08/5/2024 12:03

So why is it tanking

[bigbigdave] 08/5/2024 09:58

DEUTSCHE BANK RESEARCH STARTS SYNTHOMER WITH 'HOLD' - PRICE TARGET 260 PENCE

[eigthwonder] 03/5/2024 16:32

The equity still has a lot of value in it if they can repair the misdemeanours of the past (in their control to an extent) and capacity/demand/pricing in the nitriles business stabilises (not in their control).

[johnrxx99] 03/5/2024 15:45

Good day, I've been waiting for that.

[eigthwonder] 03/5/2024 12:52

AGM is the 9th May. Gut feel is that upgrades will be at mid-year at the earliest given the recent history

[jacko07] 27/4/2024 13:44

The AGM is May 3rd, will we hear anything that moves this up?

[eigthwonder] 15/4/2024 11:59

Part of a wider programme, more positive than negative I think. Worth catching the webcast of the last set of results - sensible self-help stuff and if watch to the end, has the chance of upgrades at the mid-year if early trends remain intact IMO.

[cestnous] 15/4/2024 11:34

That disposal smells of desperation but I’m staying for future rises

[johnrxx99] 15/4/2024 09:52

The disposals of industial sidelines continue. Will take a hit to NAV but future will be brighter.

[johnrxx99] 14/4/2024 08:22

This company lacked a decent thread so here it is. I picked up this one from CR's blog and ir could be a good one, who knows.

DYOR of course and fingers crossed. I have a very small holding.

[johnrxx99] 14/4/2024 08:20

High-performance, highly specialised polymers and ingredients help customers make products that bind the world together, so they say.

It has had a terrible time over the last few years, Covid related, but a new CEO is hopefully turning things around. Focusing on key divisions, it is divesting and reducing debt. Look at the website for more.

[queenbreguet] 12/4/2024 08:30

The market appears to like the announcment re the pricing of the senior note offering.

[mirabeau] 06/4/2024 12:28

Interesting and it seems informed comments from ION, dated end Fed 2024 :. It seems more disposables to reduce debt is on the cards and maybe a potential bid thrown into the pot to keep things bubbling :

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Synthomer lines up European carveouts for 2024, sources say

29th February 2024 07:49 AM

By Kezia Joseph and Georgina Barnard

Synthomer [LON:SYNT] is exploring several carveouts of its European assets, according to three sources familiar with the situation.

The British chemicals business is looking to divest its Compounds and Paper Latex units, both of which sit within the wider Paper, Carpet & Foam division, according to all of the sources, with banks believed to have been selected to run an auction.

According to one of the sources, Synthomer’s Compounding business is being marketed off EBITDA of GBP 10m, and the unit has sites in the Netherlands and Germany.

One of the sources added that Synthomer may also consider offloading its Additive Solutions unit.

The potential carveouts would follow Synthomer’s attempted sale of its William Blythe division last year. The inorganic materials unit was expected to be marketed off EBITDA of GBP 7m – GBP 8m, but interest in the sale has since waned.

As previously reported, Synthomer’s SBR Latex and Acrylic Monomers operations have also been flagged as potential exit options. These units sit within Synthomer’s Health & Protection and Coatings divisions, respectively.

The potential divestments come as Synthomer reported a drop in revenue across the board for its various units, according to its most recent financial report.

Synthomer’s Coatings & Constructions Solutions division saw revenue drop to GBP 55.1m in 1H23 from GBP 80.3m the previous year while Health & Protection and Performance Materials saw revenue fall to GBP 11.3m in 1H23 from GBP 59.2m a year earlier, according to the company’s half-year 2023 report. Synthomer’s EBITDA fell to GBP 72m for 1H23 from GBP 162.8m a year earlier.

In 2019, Synthomer launched a strategic review of its SBR latex operations, following which it decided to close its facilities in Finland and reduce production in Germany in response to declining demand. SBR latex is used for the coating of graphic and packaging paper, and the move to electronic media has put a strain on the paper market.

At the end of 2022, Synthomer sold its OMNOVA laminates unit to Surteco Group [ETR:SUR].

The company’s share price sits at 146.8p as of today (February 29). The shares are down 20% year-to-date, for a GBP 240m market cap.

Last month, this news service flagged Synthomer as a potential takeover target for 27% shareholder Kuala Lumpur Kepong, which attempted to acquire the business last year.

Synthomer declined to comment.

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[wigwammer] 05/4/2024 12:26

The chair - Caroline Johnstone - has been in position since 2020. She oversaw the Eastman acquisition and the whole overleveraging of the balance sheet, despite being gifted a huge covid related profit windfall. She took a material pay increase last year. She really needs to stand up and explain to shareholders why she should be kept on, It appears atrocious given what the share price has done over her tenure. IMO

[eigthwonder] 31/3/2024 08:56

Well, I would vote against anyone who was in situ when the Eastman deal was signed off for a start. And purely on historical track record - Smiths Group when it was bad, Xaar when it started going bad and Essentra when it was bad - Lily Liu, like a lower league football manager who keeps finding employment, manages rise the greasy pole despite poor results.

[meanreverter] 30/3/2024 21:11

I have the opportunity to vote on the resolutions for the AGM — in particular, regarding the re-election of certain directors. Now, I do not know anything about these directors. Does anyone on this BB who knows more than I do about the directors of SYNTH care to share their views?

[chris szabo] 28/3/2024 14:42

sure looks like it

[queenbreguet] 28/3/2024 11:36

Bid coming ??????

[bigbigdave] 26/3/2024 07:25

*HSBC RAISES SYNTHOMER PRICE TARGET TO 250 (160) PENCE - 'HOLD'

[queenbreguet] 18/3/2024 14:38

Market makers are hovering up stock