Edison Investment Research - Solid State (SOLI) Solid State - Record FY24; medium-term targets retained

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Edison Investment Research

Toby Thorrington

Solid State - Record FY24; medium-term targets retained

Solid State is developing from a component manufacturer into a value-added electronics partner offering engineered solutions. Management expects this to drive additional growth and margin expansion, particularly in target markets, such as healthcare and defence, underpinning management’s objective for a c 20% CAGR in shareholder returns to 2030.

10/07/2024 1 EN

Underlying

Solid State

Solid State manufactures electronic equipment and distributes electronic components and materials. Co. has two divisions: Distribution, which is a distributor serving the needs of the electronics original equipment manufacturer community in the U.K. and products provided include those for the internet of things, embedded processing, control, wireless and wired communications, power management, and light-emitting diode lighting from manufacturers; and Manufacturing, which is engaged in the design, development and supply of rugged and industrial computers, portable power and energy storage solutions, communication systems, antennas and high bandwidth video transmission products.

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GB0008237132 London Stock Exchange United Kingdom

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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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Analysts

Toby Thorrington

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Solid State - Defence contract delay affects expectations

The delay of a major contract inevitably has an impact on short-term profitability. Solid State has a strong balance sheet and a growth strategy to develop into a higher value-added electronics components and systems business, as witnessed by the two recent small acquisitions. Post the current hiatus we expect this to drive growth and value creation.

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Solid State (SOLI LN) - Forecasts adjusted following delays to defence orders - Corporate

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Solid State - H1 trading in line; guidance unchanged

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Solid State - Record FY24; medium-term targets retained

Solid State - Defence contract delay affects expectations

Solid State (SOLI LN) - Forecasts adjusted following delays to defence orders - Corporate

Solid State - H1 trading in line; guidance unchanged

Games Workshop Group - A notable acceleration in Q225

Altron - Further margin expansion in H125

Sayona Mining - Catching up with majors

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