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Zotefoams
  • 22 May 24
Further to go after a strong start to the year

CEO David Stirling steps down today after 27 years at the group. He leaves Zotefoams in excellent shape and with firm foundations to create sustainable, long-term value. Today’s AGM update confirms a solid start to the year with record revenues (+14%), driven by Footwear (+44%). The share price has performed strongly in recent months (+57% YTD), which we think is justified given strong results and positive newsflow. We see further upside given operational and strategic momentum. Recent deals wit

Companies: Zotefoams plc

Singer Capital Markets
  • 16 May 24
Notes from yesterday’s ReZorce media launch – increased confidence in the opportunity

Zotefoams hosted a press conference yesterday to showcase its unique ReZorce technology. ReZorce is seeking to disrupt the beverage carton market with its fully recyclable & circular mono-material; barrier packaging solution. We came away with greater confidence in the scale of the opportunity and journey ahead. Changing ingrained practices is never easy but it is clear to us that with ReZorce the hard yards have been done. The critical next steps on this journey are a) passing the quality & com

Companies: Zotefoams plc

Singer Capital Markets
  • 15 May 24
Positive update on Rezorce

In news which will be welcomed by investors, ZTF’s joint development partner for Rezorce has been revealed as Refresco, a Dutch bottling conglomerate and the world’s largest independent beverage solutions providers. Good progress is being made towards commercialisation of Rezorce’s fully recyclable & circular beverage cartons solutions with significant technical proof points reached following the successful & seamless repurposing of a “traditional” filling line to accommodate Rezorce. Quality an

Companies: Zotefoams plc

Singer Capital Markets
  • 07 May 24
Exciting new alliance which broadens the group’s capabilities in HPP

Zotefoams has announced this morning a new Global Alliance Agreement with Shincell. This is an exciting step forward for the company and demonstrates its commitment to driving growth in its HPP/high-value polymer business. By way of background, Zotefoams’ unique manufacturing process uses nitrogen expansion to make foam slabs whilst Shincell uses both nitrogen and carbon dioxide gases to expand the polymer into foam. Further, Shincell’s technology, like Zotefoams, does not rely on chemical agent

Companies: Zotefoams plc

Singer Capital Markets
  • 19 Mar 24
Record year with another exciting year ahead

FY23 sales came in at £127m (flat) with op. profit of £15.1m (+9%). Progress in the core Foams businesses has been remarkable (+23% op. profit) with profitability in Polyolefin recovering strongly and HPP going from strength to strength. ReZorce’s in-store market trial is imminent with 150k cartons currently being prepared for filling. Balance sheet leverage remains comfortable (1.2x net debt/EBITDA) and further progress on ROCE signals value creation (ROCE up 200bps to 14.2% ex ReZorce). FY24 h

Companies: Zotefoams plc

Singer Capital Markets
  • 18 Jan 24
Strong end to the year, c.5% PBT beat

A very pleasing update from Zotefoams with FY23 group sales expected to be £127m, in line with consensus expectations and, reflecting a strong end to the year, adj. PBT is expected to reach £13.1m (+5% YoY), c.5% ahead of our and market expectations. This has been driven by a significant step-up (+21%) in profitability across the foam business units (polyolefin & HPP) reflecting continued progress on mix enrichment, disciplined pricing and operational efficiencies. Ahead of commercial trials in

Companies: Zotefoams plc

Singer Capital Markets
  • 07 Nov 23
In-line Q3 Trading Update; CEO signals retirement

Zotefoams has issued a resilient Q3 update highlighting that the Board expects FY23 adj PBT to be in-line with expectations. Confirmed orders now provide a good level of visibility over the remainder of the year. Whilst FY23 revenues are expected to be at a similar level to FY22, there has been an improvement in overall profitability across its two foam business units, with margins significantly higher than the prior year. Elsewhere, in the MEL business unit, costs are increasing with further in

Companies: Zotefoams plc

Singer Capital Markets
  • 11 Sep 23
Rebuilding ROCE to drive valuation

Despite a flattish PBT outlook in FY23, a simple SOTP, adjusting for significant ReZorce development costs, indicates a c.35% upside to reach our TP of 480p. We see the rebuilding of ROCE as a key catalyst supporting this re-rating and more, and identify the steps towards a potential ROCE target of 20%. This would compare to the FY22 outturn of 10.2% and a high of 18.1% (excluding assets under construction) in FY17. We see good reason to identify Zotefoams as a core SmallCap industrials holding

Companies: Zotefoams plc

Singer Capital Markets
  • 08 Aug 23
Strong interims, confident of in-line FY23

The Group has produced strong interims with revenue and PBT ahead 9% and 30% respectively with benefit from an improved product mix, significant pricing adjustments made during 2022 and favourable exchange rates. Polyolefin and HPP sales were ahead 10% and 11% respectively with overall sales volumes decreasing by 4%, mainly as a result of Polyolefin sales in Europe and the Far East. Excluding the Mucell segment, where good progress is being made with ReZorce’s recyclable barrier packaging techno

Companies: Zotefoams plc

Singer Capital Markets
  • 18 Jul 23
Building momentum with ReZorce JDA

Zotefoams has announced a joint development agreement (‘JDA’) with an unnamed world-leading packer of beverages. This agreement follows successful internal trials and encompasses the further development of Zotefoams’ ReZorce monomaterial beverage carton packaging and its planned use in in-market trials for a major European retailer beginning in early 2024. This is a significant announcement confirming the technical progress that has been made with ReZorce which has the potential to deliver a ful

Companies: Zotefoams plc

Singer Capital Markets
  • 24 May 23
In-line AGM update

Zotefoams has issued a trading update ahead of its AGM today, confirming that it is trading in-line with expectations. The first four months to end April has seen continued year-on-year growth with margins benefiting from prior year price increases, operational efficiencies and a stronger dollar. The general cost environment has eased with LDPE now stable, but still above historic averages, whilst energy prices have also fallen. Further sales growth is expected in the year from HPP products with

Companies: Zotefoams plc

Singer Capital Markets
  • 21 Mar 23
Strong finish to FY22; investing for growth in FY23

Zotefoams has reported record revenue in FY22 of £127.4m up 26% (19% at CER) and an adjusted PBT of £12.5m (FY21: £7.2m), exceeding the ‘not less than £12m’ flagged in January’s trading update. Results were driven by material price increases in Polyolefin Foams, a stronger US dollar and significant increases in High Performance Products (HPP) volumes in Footwear, Zotek F and T-FIT insulation, alongside continued cost inflation. ReZorce, which is transitioning from technical development to pre-m

Companies: Zotefoams plc

Singer Capital Markets
  • 18 Jan 23
A core long-term holding

Zotefoams will have achieved record revenues in FY22 with strong momentum through to year end. A scheduled trading update for 19th January will give final clarity on the outturn where there is potential for further outperformance against our updated forecasts. Challenges remain in FY23, not least from the deteriorating macro-economic picture, but the Group has demonstrated resilience and pricing power and has an established long-term track record of building value. ReZorce has high potential but

Companies: Zotefoams plc

Singer Capital Markets
  • 21 Oct 22
Zotefoams (ZTF) - CEO interview
zotefoams-ztf-ceo-interview-21-10-2022
  • 13 Oct 22
Trading ahead of expectations

A very positive Q3 update prompts further upgrades to forecasts, following upgrades at the interims in August, indicating that Zotefoams has well and truly turned the corner. The Group has delivered a record Q3 sales performance with revenue 27% ahead of Q3’21. Year to date revenue is c.24% ahead of the prior year. This has been broadly based, with 27% growth in AZOTE (4% volume) and 20% growth in HPP (18% footwear, 22% aviation, 39% T-Fit). The picture on costs shows raw materials pressure easi

Companies: Zotefoams plc

Singer Capital Markets

Zotefoams plc

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Latest News/RNS

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Date Source Announcement
13Jun24 07:00 RNS Zotefoams PLC - Notification Of Transactions Of Directors/PDMRs
05Jun24 15:08 RNS Zotefoams PLC - Notification Of Transactions Of Directors/PDMRs
31May24 16:45 RNS Zotefoams PLC - Holding(s) in Company
30May24 15:07 RNS Zotefoams PLC - Director/PDMR Shareholding
28May24 07:00 RNS Zotefoams PLC - Notification Of Transactions Of Directors/PDMRs
22May24 14:01 RNS Zotefoams PLC - Result of the 2024 Annual General Meeting
22May24 07:00 RNS Zotefoams PLC - Trading Update and Group CEO Succession
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