Severfield

Severfield reports an increased order book of £534m in the UK and Europe as of 1 July (1 June: £507m). Projects in Europe and the Republic of Ireland now make up 32% of the order book; deliveries scheduled for the next 12 months total £375m (previously £339m). The joint venture in India increased its order book to £327m (adjusted: £267m as of 1 June). New orders mainly come from data‑centre projects in the UK, Germany and Sweden and from partner JSW. Severfield confirms guidance for FY 2027 with an expected pre-tax profit of £12–15m, but expects higher margins only in the second half and profits from larger projects likely in FY 2028. » Więcej na de.investing.com

Severfield has signed early a new three-year agreement with its existing lending syndicate, comprising a renewed £60m revolving credit facility and the continued term loan of £7.6m. The facilities are unsecured, include an accordion option of up to £30m (subject to consent) and two one-year extension options for the RCF. The refinancing delivers reduced margins and more favourable covenants, aims to increase financial flexibility and lengthen the maturity profile. Severfield will publish full-year results and a strategy update on 23 June 2026. » Więcej na de.investing.com

Severfield expects a pre-tax profit of around £10.2m for the year ending March 2026 and reports net debt of about £28m. The order book in the UK and Europe stands at £438m, of which £338m is scheduled for delivery in the next 12 months, while the joint venture in India recorded a record order intake of £331m. For 2027 management forecasts a pre-tax profit of £12–15m, below the consensus of £19m, citing a subdued market environment and the postponement of larger projects. Severfield received a total of £27.5m in insurance payments, is discontinuing the Modular Solutions segment and plans a strategic review in June; Jefferies reaffirms its "Buy" rating with a price target of 41 pence. » Więcej na de.investing.com