Edison Investment Research - Thrace Plastics Holding And Commercial Societe Anonyme (PLAT) Thrace Plastics - Investing for the future

Report

Edison Investment Research

Toby Thorrington

Thrace Plastics - Investing for the future

Thrace continued to successfully service high medical sector demand and support customers elsewhere in the face of input cost pressures in H121. Cash generation has boosted balance sheet strength and Thrace plans to increase capex to enhance business capabilities and its sustainability credentials. With more normal trading (ie sharply lower medical sector demand) factored in for FY22 and beyond – including slightly raised estimates – the valuation does not look stretched and the outlook for cash generation should present further opportunities to enhance returns.

18/10/2021 7 EN

Underlying

Thrace Plastics Holding And Commercial Societe Anonyme

Thrace Plastics Holding and Commercial SA Formerly known as Thrace Plastics Holding and Commercial Societe Anonyme. Thrace Plastics Holding and Commercial Societe Anonyme, formerly Thrace Plastics Co SA, is a Greece-based company engaged in the production and trade of plastic products, textiles and packaging materials. The Company's range of products are divided into three categories: Technical Fabrics & Fibers, which includes such products as woven and non-woven geotextiles, ground covers, crop covers, nets, roofing membranes, staple fibers, concrete reinforcement fibers, geogrids, Mega bag components and carpet and industrial yarns; Consumer Packaging, which offers plastic containers and lids, cups, tubs, bottles, bags for liquid packaging, as well as plastic packaging for food products, and Industrial Packaging, which includes ropes and twines, big bags, films, woven polypropylene bags, bags for heavy duty, pallet covers, and stretch hoods. The Company operates through its local and international subsidiaries.

See profile

GRS239003007 Greece

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

See profile

Analysts

Toby Thorrington

Other Reports on these Companies

SmartInsider

Thrace Plastics Holding And Commercial Societe: 1 director

A director at Thrace Plastics Holding And Commercial Societe bought 25,000 shares at 4.369EUR and the significance rating of the trade was 61/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under li...

Free Trial

February 13, 2024 February 13, 2024 1 EN

Eurobank Equities

Thrace Plastics | Resilient in a precarious backdrop

Protracted low demand makes a challenging near-term backdrop… – Subdued demand has aggravated the near-term challenges for the group, as was evident in the H1’23 results, with group turnover -15% yoy and underlying EBITDA (adjusted for PPE products profitability in H1’22) down by a lower c5% yoy to €24m (-20% reported). The revenue drop was driven by both lower volumes and pricing (caused by raw materials price fall), with the protracted slow demand further exacerbated by the effect from the tough comparative. That said, the underlying performance of the group is better than the optics suggest...

November 6, 2023 November 6, 2023 1 EN

Edison Investment Research

Thrace Group - Resilient business model in a challenging market

Thrace Group’s Q123 results highlight continued growth in underlying adjusted EBITDA (excluding personal protective equipment (PPE) related products), as it increased by 4% and 22% compared to Q122 and Q120 (pre-PPE boost) respectively. Despite a modest drop in Q123 volumes of 4%, management anticipates sustained continuing profitability in Q223. Management expects H123 EBITDA from the traditional portfolio to be in line with previous years’ levels at around €25m, which is consistent with our forecasts, which remain unchanged. As mentioned in our recent note, we value the company at €8.23 per ...

June 21, 2023 June 21, 2023 1 EN

Information Services Corporation - Strong underlying growth, guidance reiterated

Information Services Corporation’s (ISC’s) Q124 results highlight the strength of the underlying business, with topline and adjusted EBITDA growth of 15% and 34%, respectively, augmented by the sustained organic growth of the Services division and CPI fee adjustments. This progress was made less obvious at the statutory net income level by increases in interest costs and share-based compensation expenses of C$5.0m and C$5.8m, respectively. FY24 guidance has been reiterated, and we maintain our forecasts and valuation of C$40/share, implying 58% upside.

May 10, 2024 May 10, 2024 1 EN

Toby Thorrington

Toby Thorrington

PVA TePla - Material matters

PVA TePla has transitioned from a small seller of industrial systems to a materials technology and metrology solutions company, set to reach c €280m in revenues in FY24. Its increasing exposure to the fast-growing semiconductor industry (more than two-thirds of sales) and high-end materials markets is securing growth, driven by AI, digitisation and e-mobility. The combination of a higher capital intensity in the semiconductor industry and growing end markets bodes well for players like PVA TePla, which are exposed to the fast-growing part of equipment sales like metrology. Despite this, PVA Te...

May 10, 2024 May 10, 2024 1 EN

Richard Williamson

Richard Williamson

Zalaris - Continuing contract momentum in FY24

Zalaris reported its ninth consecutive quarter of year-on-year revenue growth in Q124, up to a record NOK318m. New contract momentum has continued, while the net retention rate of existing clients within Managed Services was 109%, driven by an increase in upselling of additional services. Profitability is improving as the benefits from its EBIT improvement programme are bearing fruit alongside operational leverage. Zalaris’s strong contract momentum has led us to upgrade our revenue estimates by 1.9% to NOK1,275m for the year at an improved adjusted EBIT margin of 10.9%, more closely reflectin...

May 9, 2024 May 9, 2024 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Thrace Plastics - Investing for the future

Thrace Plastics Holding And Commercial Societe: 1 director

Thrace Plastics | Resilient in a precarious backdrop

Thrace Group - Resilient business model in a challenging market

Information Services Corporation - Strong underlying growth, guidance reiterated

PVA TePla - Material matters

Zalaris - Continuing contract momentum in FY24

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe