discoverIE Group (DSCV): Focused on sustainable...

Edison Investment Research Limited discoverIE Group (DSCV): Focused on sustainable growth 05-Dec-2022 / 09:53 GMT/BST London, UK, 5 December 2022 discoverIE Group (DSCV): Focused on sustainable growth discoverIE reported another strong set of results for H123 despite ongoing supply chain challenges, with 14% y-o-y organic revenue growth, 37% EPS growth and a record end-H1 order book. As the company is on track to achieve underlying earnings for FY23 in line with board expectations, our FY23 and FY24 underlying EPS forecasts are broadly unchanged. The company is refining its ESG strategy and has announced its net zero commitments (scope 1 and 2 carbon emissions by 2030, scope 3 by 2040), having already reduced emissions by 40% since CY19 (like-for-like). While the stock is trading at a premium to the average of its broader UK industrial technology peer group on a P/E basis for FY23, it trades at a discount compared to peers with a similar decentralised operating model (such as Halma and Spirax). The focus on strategic growth markets supports sustained organic revenue growth and we see potential for upside to earnings through operating margin expansion and accretive acquisitions. The company has ample headroom for further acquisitions and a strong pipeline of opportunities, which could well be boosted by the current uncertain macroeconomic environment.   Click here to view the full report or here to sign up to receive research as it is published. All reports published by Edison are available to download free of charge from its website www.edisongroup.com About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached – across institutions, family offices, wealth managers and retail investors – Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Katherine Thompson [phone] [e-mail] Learn more at www.edisongroup.com and connect with Edison on:  LinkedIn  www.linkedin.com/company/edison-group-/ Twitter   www.twitter.com/Edison_Inv_Res YouTube  www.youtube.com/edisonitv Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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