Mixed Q1 results // strong FCF generation; chg. est. Topic: INDUS reported a mixed Q1 with sales below but EBIT above estimates as well as strong free cashflow supported by a lower seasonal working capital increase. Q1 sales decreased by 9% yoy to € 410m (eNuW: € 434m) due to customers’ current reluctance to buy and spend as a [ … ]

Strong FCF supports further growth; chg. Topic: INDUS reported solid FY23 figures especially in light of the currently challenging macro environment. Results are in line with the preliminary numbers and FY23 guidance. Further, INDUS had its capital markets day yesterday in Frankfurt. Here are the key takeaways: FY23 sales came in at € 1. [ … ]

Bolt-on acquisitions into global megatrends; chg. Topic: INDUS successfully completed the share repurchase program announced on February 21st. Further, the German conglomerate expanded their portfolio in the field of infrastructure networks and AI-based industrial automation. Share buyback at an attractive price: During the period from Februa [ … ]

Solid FY23 prelims // focus on strong FCF & share buyback; chg. Topic: While prelim. FY23 sales and EBIT came in largely as expected, the strong FCF generation of € 190m is well above expectations. On top, INDUS announced a 4.1% share buyback at € 23. Preliminary FY23 sales remained stable yoy at € 1.80bn (eNuW: € 1.82 [ … ]

Another promising year for INDUS Topic: While INDUS should experience some margin pressure in 2024e, the EBIT margin is still seen to come in at 8.0%, which is the highest operating margin since 2017. With an appealing dividend yield of 5.5% (eNuW) and an attractive valuation of only 4.6x EV/EBITDA, the stock remains a buy. Normalizing margin [ … ]

RS feedback: Strong free cashflows to support new investments Topic: On Friday, we hosted a digital roadshow with the CEO of INDUS. Here are the key takeaways: Free cashflow from continuing operations more than quadrupled yoy with € 106.1m at 9M 2023 (9M 2022: € 22.2m). Going forward, management aims to further reduce the working ca [ … ]

Mixed Q3, Infrastructure affected by weak economy; chg. est. Topic: INDUS reported mixed results for Q3 with sales above but margins below estimates. Management cut the guidance to adjust for a soft construction sector, which is still impacted by a weaker economic environment. Q3 sales grew by 0.2% yoy to € 460m (eNuW: € 446m) as En [ … ]