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Entering FY23 in a Strong Position - FY22 Trading Update

discoverIE Group plc continued to see strong order intake and sales in the final months of FY22, closing the year ahead of board expectations. Revenue grew 25% y-o-y (17% organic growth) and orders by 36%, resulting in a record order book. Edison Group upgraded its underlying EPS forecasts by 4.0% for FY22 and 2.5% for FY23. The stock trades towards the upper end of its broader UK electronics peer group on a P/E basis, but trades more in line with peers with a similar decentralised operating model (such as Halma and Diploma). discoverIE is a leading international designer and manufacturer of customised electronics to industry, supplying customer-specific electronic products and solutions to original equipment manufacturers.

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