Property & Construction
Severfield plc
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Company Description
Severfield is the UK's largest structural steel provider and one of the biggest in Europe. It also has a JV in India with JSW Steel, India's largest steel producer. Severfield's main activities are: the design of steel structures for buildings and infrastructure; fabrication of steel sections and plate; and the erection of the steel elements within larger projects. The group was formed in 1978 and undertook a major restructuring in 2013. 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 its strong balance sheet, which could open up further market opportunities. Severfield has developed a more active strategy of leading rather than following demand, with the group investing in design capabilities and manufacturing capacity tailored to potentially long-term, structural growth sectors such as datacentres, logistics and infrastructure, where clients are more dependent on security of delivery than, say, basic offices and retail. Europe and the potentially huge Indian market are examples of the group's geographical strategy.
Recent Content
Outlook confirmed ahead of investor teach-in
27/03/2023 Severfield plc
Severfield, the UK’s leading structural steel specialist, has signalled ahead of today’s Capital Markets Event that a strong […]
Dutch acquisition enhances Euro-vision
16/03/2023 Severfield plc
Severfield, the UK’s leading structural steel specialist, yesterday enhanced its strategic aim of expanding its presence in continental […]
Interims confirm sustained infrastructure drive
22/11/2022 Severfield plc
We have kept our FY23E-25E PBT estimates for Severfield, Britain’s top steel construction specialist, as its FY23E interims […]
Opportunities abound amid new world order
26/10/2022 Severfield plc
Prospects for Severfield, the UK’s top steel construction specialist, should be underpinned not only by existing markets including […]
Trading in-line, with booming order book
08/09/2022 Severfield plc
Severfield, the UK’s top steel construction specialist, confirms in today’s AGM statement that performance in the first five […]
Resilient FY result with forecasts maintained
15/06/2022 Severfield plc
Severfield, Britain’s leading structural steel specialist, delivered an 11% increase in adjusted FY2022 PBT to £27.1m, just below […]
Orders surge as nuclear market reopens
20/04/2022 Severfield plc
Severfield, Britain’s leading structural steel specialist, has confirmed that it expects FY2022E results in line with its previous […]
Small H1 ‘beat’ despite supply chain challenge
23/11/2021 Severfield plc
Strong trading and a new record high for the order book for Britain’s leading structural steel specialist drove […]
Record order book supports earnings outlook
01/09/2021 Severfield plc
Britain’s leading structural steel specialist has highlighted in today’s AGM statement continuing positive trading in the first five […]
Momentum continues after resilient FY2021
16/06/2021 Severfield plc
Britain’s leading structural steel specialist slightly beat our previously increased estimates for FY2021, with adjusted PBT of £24.3m […]
Forecasts lifted after steel group raises the bar
22/04/2021 Severfield plc
We have raised our PBT estimates for FY2021E – 2023E after Britain’s leading structural steel specialist this morning […]
Acquisition gives first class ticket for rail spend
26/02/2021 Severfield plc
Britain’s leading structural steel specialist has acquired specialist fabricator DAM Structures for £12m and up to £15m in […]
Diversity supports resilient H1 performance
25/11/2020 Severfield plc
Severfield’s diverse range of end-markets supported a 40% increase in sales despite “challenging” conditions for Britain’s leading structural […]
Dividend reinstated after ‘encouraging’ restart
03/09/2020 Severfield plc
The UK’s largest structural steel construction specialist has reinstated the final dividend for FY 2020 following “encouraging” activity […]
Strong FY results and poised for HS2 boost
17/06/2020 Severfield plc
Results for the FY to March showed a 16% rise in PBT, with little impact from Covid-19. Financial […]
Infrastructure to power Covid-19 rebound
21/04/2020 Severfield plc
Britain’s dominant structural steel manufacturer and contractor has indicated that trading in FY 2020E was in line with […]
Aiming to jump onboard HS2 fast track
18/02/2020 Severfield plc
Britain’s dominant structural steel manufacturer and contractor, we have recently indicated, could win a major slice of the […]
Election result provides clearer 2020 vision
03/02/2020 Severfield plc
Britain’s leading structural steel group could benefit from the revival of stalled construction and investment projects, potentially including […]
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
Financial 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.
