Morningstar - Victrex plc (VCT) Declining Volumes Continue for Victrex in 3Q As Expected; Shares Undervalued

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Morningstar

Rob Hales

EUR 100.00 For Business Accounts Only

Declining Volumes Continue for Victrex in 3Q As Expected; Shares Undervalued

In its third-quarter trading statement, narrow-moat Victrex reported a 21% drop in volume over 2018, or 18% excluding the large consumer electronics order. This was largely expected. Demand from automotive, electronics and value-added resellers further deteriorated in the third quarter and a recovery is not expected in the fourth quarter. On the positive side, growth was solid in aerospace and energy while medical was stable. Victrex is expecting a more stable performance in the fourth quarter g...

25/07/2019 13 EN

Underlying

Victrex plc

Victrex is a non-trading investment holding company. Through its subsidiaries, Co. is engaged in polymer solutions, focused on the strategic markets of Automotive, Aerospace, Energy (including Manufacturing & Engineering), Electronics and Medical. Co. develops solutions in Polyether ether ketone (PEEK) and Polyaryletherketones (PAEK) based polymer, selected semi-finished and finished parts. Co.'s operating segments are: Industrial (Victrex Polymer Solutions), which focuses on its Automotive, Aerospace, Electronics and Energy markets; and Medical (Invibio Biomaterial Solutions), which focuses on providing solutions for medical device manufacturers.

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GB0009292243 London Stock Exchange United Kingdom

Provider

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.

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Analysts

Rob Hales

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Declining Volumes Continue for Victrex in 3Q As Expected; Shares Undervalued

Victrex: 1 director

An unfavourable environment weighs on VICTREX, which sees a downgrade to Slightly Negative

Monthly LMI Update Independent Investment Research

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Sasol Provides Full-Year Production Update

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