Irish Continental Grp

Steady as she goes; well-placed for 2020

  • Sectors : Transport Services
  • Companies : Irish Continental Grp

Ratings and price correct at time of issue.

  • Irish Continental Grp

    Closing Price: 452c

  • RATING 30/08/18

  • PREVIOUS RATING 19/02/18

    NEUTRAL

DAVY VIEW

Irish Continental Group (ICG) continues to deliver and remains a high-quality infrastructure play. We see our FY 2019 and FY 2020 EBITDA forecasts of €87m and €99m respectively as well underpinned. We remain ‘Outperform’ with a €6 price target. Net debt at year end should be in the ~€116m range. Investments in scrubbers and an additional container vessel should leave them well set for 2020.

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Nov 27 2019, 07:45 GMT

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