Report
Daniel Ragonese
EUR 850.00 For Business Accounts Only

Morningstar | Reliability and innovation underpin Ansell's expansion into new products and markets.

Solid returns on capital reflect the brand strength and scale advantages that protect Ansell's business with a narrow economic moat. Ansell has maintained steady growth during the past three years, largely through acquisition and new product development. Management is addressing commoditisation of the product portfolio through a strategy of continual new product development and rationalisation of noncore brands. Nonetheless, we expect mixed global economic conditions to negatively affect demand for products in the firm's industrial range. Notwithstanding a spate of acquisitions during the past two years, the company still has capacity for opportunistic, bolt-on acquisitions.
Underlying
Ansell Limited

Ansell, along with its subsidiaries, is engaged in the development, manufacturing and sourcing, distribution and sale of gloves and protective personal equipment in the industrial and medical gloves market, as well as the sexual wellness category worldwide. Co. operates in four main business segments: Medical, which manufactures and markets surgical and examination gloves together with a range of healthcare safety devices; Industrial, which manufactures and markets hand and body protection solutions; Single Use, which provides single use industrial application gloves; and Sexual Wellness, which manufactures, sells and markets a range of branded condoms, lubricants, devices and fragrances.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Daniel Ragonese

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