Property & Construction

Severfield plc

Market Cap (£m) 196.2
Listing FULL LIST

Analysts

Company Description

Severfield is the UK’s largest structural steel provider and one of the biggest in Europe. It has a total capacity of around 150,000 tonnes in five UK plants, employs c.1,400 and has a growing JV in India. Its main activities are: the design of steel structures for buildings and infrastructure; fabrication of sections and plate; and the erection of the steel elements within larger projects. It was formed in 1978 and grew rapidly before significant contractual losses in 2013 prompted a major restructuring and rights issue. In 2019 the group acquired privately-owned Harry Peers & Co, which serves the nuclear, process and power industries, for up to £25m. DAM Structures, which is exposed to rail, was acquired in February 2021 for up to £27m.

Investment Summary

We believe that Severfield should benefit from: growth markets such as infrastructure, including HS2, logistics and datacentres; its leading market position; and strong balance sheet, which, in our view, could open up further market opportunities. We also see strong growth opportunities in India, where we see scope for overall economic recovery as the pandemic disperses and a maturing construction market that will require more complex engineering capabilities.

Recent Content

More Content

Company Management Team

  • Alan Dunsmore

    Chief Executive Officer

    Alan Dunsmore joined the company in March 2010 from Smiths Group plc. He joined Smiths Group Medical Division in 1995, holding various positions throughout the business and from 2004 was Director of Finance for Smiths Detection. Prior to joining Smiths, he was with Coopers and Lybrand in Glasgow, where he qualified as a Chartered Accountant in 1992. Alan was appointed as Chief Executive Officer in February 2018.

  • Adam Semple

    Finance Director

    Adam joined the Group in 2013 from Firth Rixson Group, prior to which he was with PwC in both Leeds and London, where he qualified as a chartered accountant in 2002. Adam was appointed as Group finance director in February 2018, having held the role on an interim basis since March 2017. He previously held the position of Group financial controller.

Key Dates

Jun 2019
19th
Finals
Actual
Sep 2019
3rd
Q2 TU
Actual
Nov 2019
26th
Interims
Actual
Apr 2020
21st
Q4 TU
Actual
Jun 2020
17th
Finals
Actual
Sep 2020
3rd
Q2 TU
Actual
Nov 2020
24th
Interims
Actual
Apr 2021
22nd
Q4 TU
Actual
Jun 2021
16th
Finals
Actual
Sep 2021
1st
AGM
Actual
Sep 2021
30th
Q2 TU
Actual
Nov 2021
23rd
Interims
Actual
Apr 2022
20th
Q4 TU
Actual
Jun 2022
15th
Finals
Actual
Sep 2022
1st
AGM
Estimate
Nov 2022
23rd
Interims
Estimate
Apr 2023
20th
Q4 TU
Estimate