Leading International Investment Research, Edison Investment Research

Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Equity Bottom-Up

<p>The Q1 results point to another year of solid revenue growth and further EBITA margin expansion. While SinnerSchrader&rsquo;s P/E rating has caught up with its peer group, we see scope for further ratings expansion given the solid organic growth outlook, strong balance sheet and the strategic value SinnerSchrader (SZZ) may hold in a consolidating segment. The c&nbsp;3% dividend yield (up 70bp) should also provide strong support.</p>

The Q1 results point to another year of solid revenue growth and further EBITA margin expansion. While SinnerSchrader&rsquo;s P/E rating has caught up with its peer group, we see scope for further ratings expansion given the solid organic growth outlook, strong balance sheet and the strategic value SinnerSchrader (SZZ) may hold in a consolidating segment. The c&nbsp;3% dividend yield (up 70bp) should also provide strong support.

<p>SinnerSchrader (SZZ) expects another year of double-digit revenue growth and margin improvement in FY17, underpinned by the Audi win. This confidence is reflected in the 67% increase in the dividend to 20c. This should provide strong support to the shares which, on an FY17e P/E of 16x, trade in line with SZZ&rsquo;s wider peer group, although still at a discount to closest German peer Syzygy.</p>

SinnerSchrader (SZZ) expects another year of double-digit revenue growth and margin improvement in FY17, underpinned by the Audi win. This confidence is reflected in the 67% increase in the dividend to 20c. This should provide strong support to the shares which, on an FY17e P/E of 16x, trade in line with SZZ&rsquo;s wider peer group, although still at a discount to closest German peer Syzygy.

Germany

SinnerSchrader AG develops and markets e-commerce solutions and services to its international clientele.  The Company is an all-around e-commerce service provider offering its expertise in web design and production, media strategy and planning, project management and consulting, software development, and editorial services and public relations.

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SinnerSchrader AG (SZZ GR)

Another strong year expected

The Q1 results point to another year of solid revenue growth and further EBITA margin expansion. While SinnerSchrader’s P/E rating has caught up...

Edison Investment Research

Dividend increased 67%

SinnerSchrader (SZZ) expects another year of double-digit revenue growth and margin improvement in FY17, underpinned by the Audi win. This...

Edison Investment Research

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