Report

Dividend increased 67%

SinnerSchrader (SZZ) expects another year of double-digit revenue growth and margin improvement in FY17, underpinned by the Audi win. This confidence is reflected in the 67% increase in the dividend to 20c. This should provide strong support to the shares which, on an FY17e P/E of 16x, trade in line with SZZ’s wider peer group, although still at a discount to closest German peer Syzygy.
Underlying
SinnerSchrader AG

SinnerSchrader AG is a Germany-based company that operates as the digital agency. The Company develops interactive strategies, platforms and applications. The Company's activities are divided into three business segments. The Interactive Marketing segment develops Internet strategies, drafts, designs and produces digital communication campaigns, handles the customized conception, design and technical development of websites, Internet and mobile applications, among others. The Interactive Media segment plans and implements advertising campaign on the Internet with a focus on performance-driven display advertising, as well as provides and measures the performance of advertising media. The Interactive Commerce segment offers enterprises a range of services for the set-up, development and operation of digital sales channels, as well as management of these channels, including purchasing, logistic and payment transaction services.

Provider
Edison Investment Research
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.

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