Chemring Group

Manufacturing & Industrial defense electronics energy systems sensors

Chemring Group is a global business that specializes in the manufacture of high technology products. The Company operates in four strategic product segments: countermeasures, sensors & electronics, pyrotechnics & munitions, energetic sub-systems, and delivers high-reliability solutions to protect people, platforms, missions and information against constantly changing threats.

Revenue(FY, 2017)

£547.5 M

Market capitalization(2017-03-09)

£562.7 B

Backlog(FY, 2017)

£478 M

Type

Public

Hampshire, GB

Founded

1905

Size (employees)

2,510 (est)-7%

Website

chemring.co.uk

Chemring Group was founded in 1905 and is headquartered in Hampshire, GB

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Key People/Management at Chemring Group

Michael Flowers

CEO

Jamie Howkins

Finance Director

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Chemring Group Office Locations

Chemring Group has an office in Hampshire

Hampshire, GB (HQ)

Roke Manor Old Salisbury Ln

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Chemring Group Financials and Metrics

Chemring Group Financials

Chemring Group's revenue was reported to be £547.50 m in FY, 2017 which is a 14.8% increase from the previous period.

Summary

GBP
Revenue (FY, 2017)	547.5 m
Revenue growth (FY, 2016 - FY, 2017), %	14.8%
Net income (FY, 2017)	6.6 m
EBIT (FY, 2017)	15.3 m
Market capitalization (9-Mar-2017)	562.7 b
Closing share price (9-Mar-2017)	2
Cash (31-Oct-2017)	33.6 m
EV	562.7 b

Chemring Group's current market capitalization is £562.7 b.

Source: Company Filings

Income Statement

Annual

GBP	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Revenue	403.1 m	377.3 m	477.1 m	547.5 m
Revenue growth, %	(15%)	(6%)	26%	15%
EBIT	25.4 m	5.5 m	26.2 m	15.3 m
EBIT margin, %	6%	1%	5%	3%

Half Year

GBP	H1, 2015	H1, 2016	H1, 2017
Revenue	161.7 m	180.1 m	249.6 m
EBIT	(8.3 m)	(5.3 m)	(900 k)
EBIT margin, %	(5%)	(3%)	0%
Interest expense	6.8 m	11.5 m	5.9 m

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Source: Company Filings

Balance Sheet

Annual

GBP	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Cash	21.8 m	7.6 m	63.1 m	33.6 m
Accounts Receivable	59.3 m	81.3 m	89.7 m	92.9 m
Inventories	78.1 m	96.2 m	104.8 m	97.6 m
Current Assets	191.3 m	197.4 m	282.6 m	262.6 m

Half Year

GBP	H1, 2015	H1, 2016	H1, 2017
Cash	13.4 m	10.5 m	5 m
Accounts Receivable	87.5 m	85.7 m	128.7 m
Inventories	96.3 m	111.8 m	113.3 m
Current Assets	198.6 m	208.8 m	247.6 m

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Cash Flow

Annual

GBP	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Cash From Operating Activities	46.2 m	25.7 m	65.2 m	32.2 m
Purchases of PP&E	(10.9 m)	(8.9 m)	(10.3 m)	(12.6 m)
Cash From Investing Activities	113.3 m	(17.1 m)	(19.4 m)	(16.5 m)
Long-term Borrowings			(48.8 m)	(28.8 m)

Half Year

GBP	H1, 2015	H1, 2016	H1, 2017
Inventories	(16.8 m)	(10.7 m)	(16 m)
Accounts Payable	9.6 m	(2.1 m)	(3.4 m)
Cash From Operating Activities	6.3 m	(4.8 m)	(16.5 m)
Purchases of PP&E	(3.1 m)	(4.5 m)	(6.1 m)

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Ratios

GBP	Y, 2017
EV/EBIT	36.8 k x
EV/CFO	17.5 k x
Revenue/Employee	210 k
Debt/Equity	0.3 x
Debt/Assets	0.2 x
Financial Leverage	1.7 x

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Chemring Group Operating Metrics

Chemring Group's Backlog was reported to be £478m in FY, 2017.

	FY, 2014	H1, 2015	FY, 2015	H1, 2016	FY, 2016	H1, 2017	FY, 2017
Backlog	£486.80 m	£502.80 m	£569.60 m	£591.30 m	£592.90 m	£556.20 m	£478 m
Order Intake	£408 m		£456.80 m	£173.80 m	£371.10 m	£218 m	£450 m
Twelve-month Backlog	£296.60 m		£345 m		£368 m		$360.90 m

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Chemring Group Acquisitions / Subsidiaries

Acquired Company	Date	Deal Size
Chemring EOD Ltd.
Pirotecnia Oroquieta S.L.
Chemring Countermeasures USA
3d-Radar AS
MECAR USA Inc
CHEMRING ENERGETICS UK LIMITED
Kilgore Flares Company, LLC
Arc Europe SA
Chemring Ordnance, Inc.
Chemring Nobel AS