SKW steel metallurgy
SKW Metallurgy Steel shares have are great NachholbedarfNach heavy investment in new plants at SKW steel metallurgy now rising profits on. The stock is cheap and has high potential to catch up.
The euro debt crisis is forgotten. At least it does in the stock market like this. After the gains of the Dow vergangnene days listed again almost at the level of the end of July last year he was locked up.
The small caps in the MDAX and SDAX have achieved their pre-crisis almost. 20 percent decline in the other hand, is still SKW steel metallurgy. And compared to the price level by the end of 2010, the difference is even 30 percent.
The stock is in our opinion, significant catch-up potential. Because the shops in the SDAX member running around. In the first nine months of the specialty chemicals group increased its products for the steel industry - for example, filled with special chemicals or solutions for hot metal desulphurization wires - its sales by 13.8 percent to 324.7 million euros. The group from Unterneukirchen in Bavaria benefited from the growth of global steel production. This was the end of September by 8.2 percent over the previous year.
The largest gains will be drawn from emerging economies like China and Brazil. SKW steel is therefore focusing on Gobalisierung. 97 percent of employees are employed abroad. In recent years there has been a series of corporate acquisitions or establishment of factories around the globe.
2008, for example in Mexico, Brazil, 2009, 2011 in Sweden, Russia and Bhutan. Production in the Himalayan kingdom has two advantages. For one there will be produced at low cost because of relatively low electricity prices. Secondly, the flux-cored wires are manufactured at its new location in the medium to make a major contribution to opening up the Indian market.
Click here for current issue
After these numerous investments in new plants with high start-up costs - in the first nine months of 2011 there were 1.6 million euros - will be spending cash out now. Following increases in profits in 2011 (during the first nine months, earnings per share rose from 0.88 to 1.22 €) is likely the result of further significant rise this year.
Most market players, this seems not quite aware. Maybe the 2011 figures and a good outlook for presentation to bring on 23 March, the breakthrough. Courses in the 2010s-highs of 21 € would be in there again soon.
ISIN: DE000SKWM021
2012E EPS: 1.70 €
2013e EPS: 2,0 €
KGV 2013e: 7.5
. Div / Yield 2011e: 0,50 € / 3.3%
* EK-ratio: 40.1%
Equity per share * / KBV: 15,96 € / 0,9
Course / target / stop: 15.0 / 21.0 / € 10.80
