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Avon Technologies (LSE: AVON)

Last close As at 22/11/2024

GBP13.96

▲ 38.00 (2.80%)

Market capitalisation

GBP434m

Avon Technologies designs, develops and manufactures personal protection products for military and first responder markets, with a focus on respiratory mask systems and helmets. Its main customers include national security agencies, such as the US Department of Defense (DoD), and c 70% of sales come from the US.

Latest Insights

View More

Industrials | QuickView

Avon Technologies — Record order book driving confident outlook

Industrials | QuickView

Avon Protection — Unmasking its growth potential

Industrials | Outlook

Avon Protection — Refocused Protection set to resume growth

Industrials | Update

Avon Protection — Sentiment needs restoring to access value
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Sector

Industrials

Key Management

  • Bruce Thompson

    Chairman

  • Jos Sclater

    CEO

  • Rich Cashin

    CFO

Balance Sheet

Forecast net debt (US$m)

27.1

Forecast gearing ratio (%)

13

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 14.1 11.9 87.1
Relative 16.5 14.1 71.3
52 week high/low 1396.0p/750.0p

Financials

Avon Technologies’ FY24 results show the continued momentum seen throughout the year, with revenue growth of 12.2% y-o-y ($275m), adjusted operating profit growth of 53.4% y-o-y ($31.6m) and a record closing order book value of $225m, up 64.3% y-o-y. Return on invested capital (ROIC) grew 500bp y-o-y to 13.7%. Given Avon’s record order pipeline, disciplined capital allocation and strong cash generation, management expects the company to achieve both its medium-term operating margin (14–16%) and ROIC (>17%) targets a year ahead of schedule in FY26.

Y/E Sep Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2020A 213.6 49.0 36.1 97.4 18.6 73.0
2021A 248.3 37.6 18.9 60.3 30.1 N/A
2022E 278.4 55.1 33.2 85.1 21.3 11.2
2023E 313.2 68.4 45.4 116.3 15.6 9.5

Research

QuickView

Industrials

Avon Protection — Unmasking its growth potential

Outlook

Industrials

Avon Protection — Refocused Protection set to resume growth

Industrials

QuickView

Avon Technologies — Record order book driving confident outlook
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