Irish Continental Grp

Steady as she goes

  • Sectors : Transport Logistics
  • Companies : Irish Continental Grp

Ratings and price correct at time of issue.

  • Irish Continental Grp

    Closing Price: 406c

  • RATING 30/08/18

  • PREVIOUS RATING 19/02/18

    NEUTRAL

DAVY VIEW

Irish Continental Group (ICG) delivered an in-line performance in a recovery year in 2019, with EBITDA up 27% to €86.8m (Davy: €87m) and net debt at €129m. This was a strong performance and, while there have been some weather-related operational issues in the early part of the current year, we would expect to broadly keep our €99m EBITDA forecast. Obviously, COVID-19 is a concern (in the year of the Foot and Mouth outbreak tourism dropped 10%), but fuel costs are falling and freight remains strong. ICG remains very well strategically positioned to deliver shareholder returns in the years ahead.

Download full report with analyst certification and important disclosures

Mar 5 2020, 07:50 GMT

Download