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Hardman & Co Research (FLTA)

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Thursday 25 March, 2021

Hardman & Co Research

Filta Group (FLTA): Upbeat outlook

Hardman & Co Research
Hardman & Co Research: Filta Group (FLTA): Upbeat outlook

25-March-2021 / 09:05 GMT/BST


Hardman & Co Research: Upbeat outlook

Filta Group (Filta) announced that it had remained EBITDA-positive in 2020, despite most of its customers closing for part of the period and revenue falling by a third. Net debt fell to £0.5m. The US reopening is accelerating, while the UK is due to follow in April. Filta has used the period to reduce costs and improve its business model. We expect it to emerge as an even better business as COVID-19 is tamed. Our forecasts are reinstated: we see 2021 EBITDA similar to 2018, and we estimate a record £4.5m for 2022.

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About Hardman & Co: For the past 25 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge.  Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.

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End of Announcement - EQS News Service

1178409 25-March-2021 

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