Chapel Down Group plc

AQSE Growth Markets (Equity) -
Chapel Down is England’s leading winemaker. We are changing the way the World thinks about English wine forever. We produce truly world-class sparkling and still wines and spirits from grapes grown in the excellent terroir of South East of England.

We currently own, lease and source from 750 acres of vineyards in South East England. We have our own freehold winery in Tenterden, Kent and in 2021 we welcomed an estimated 55,000 visitors.

Chapel Down is the best known brand of English wine. We are members of the exclusive Walpole Group of luxury brands, we are an official “CoolBrand”, official wine partners to the Oxford and Cambridge Boat Races, the London Symphony Orchestra, the Royal Opera House and the Donmar Warehouse theatre, plus Ascot racecourse.

We sell our multi award-winning drinks direct to consumers through our fast growing e-commerce business and to leading retail partners, including Waitrose, M&S, Sainsbury’s, Tesco, Majestic, Selfridges and Harrods, as well as leading bars, restaurants and hotels in the UK and internationally. We export to the USA, Europe, Japan, China, Australia and a growing number of other markets. We also sell direct to consumers through the unique customer experience at our winery in Tenterden.

The highly regarded management team, led by new CEO Andrew Carter, have extensive premium drinks experience at Treasury Wine Estates, Bacardi, Chase Distillery, LVMH amongst others, and have the support of a hugely talented Board led by Martin Glenn. Aside from well-known institutional investors, significant shareholders in Chapel Down include Michael Spencer and Nigel Wray.
Symbol Ccy Code Bid Ask Share Price (Mid) Previous Close Volume Last Traded
CDGP GBX 24 25 24.5 24.5 74817 30.09.22

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Key Information

  
Market Cap: £39,017,202
ISIN:GB0032706284
Par:5
Inst Type:Ordinaries
Symbol:CDGP
MIFID Status:MTF
Tradable securities in issue:159,253,885
Sector:Beverages
% daily price change:0.00%

Latest Trades

Date & Time Volume Price
30.09.22  |  16:07:273000024.29
30.09.22  |  15:58:13200024.29
30.09.22  |  15:35:19454724
30.09.22  |  15:23:301000024
30.09.22  |  14:47:1611424.5
30.09.22  |  13:48:35101224.5
30.09.22  |  10:18:25200024.575
30.09.22  |  09:37:23400024.575
30.09.22  |  08:47:351000024.025
30.09.22  |  08:40:545224.7

Financial Information

Performance

Earnings per share of 0.72p for 12/2021 has grown from -2.89p in 12/2019 or 3.6p over the period. Looking at this trend over the last 3 reported periods earnings are showing a growth.

Earnings per share   % growth (1)
   
 12/202091%
 12/2021-113%
   
Average over 3 periods+-11%
Strength in EPS trend ±
Low
High

(1) % growth is year on year % change in EPS.

Basic earnings per share are earnings from continuing and discontinued operations that are attributable to current equity holders.

Business Insight

Costs to Revenues ratio of 0.35 in 12/2021 has improved from 0.57 in 12/2019. Revenues over the period have increased. Operating costs have declined.

Cost to Revenue ratio (2)   Multiple to Revenue
   
 12/20190.6x
 12/20200.4x
 12/20210.3x
   
Average multiple over 3 periods+0.5x
Strength of cost to revenue relationship ±
Low
High

(2) Costs include selling and admin, depreciation, amortisation and other operating costs.

Valuation

Financial Metric
Price multiple to metric
Relationship strength between metric and share price ±
  
EBITDA36.7x
EBIT56.9x
NI65.1x
FCF209x
DPS-
Assets1.9x
CE2.1x

The Relationship Strength is statistical measure of how close the data is to a line of best-fit line between share price and the metric shown. It is scaled between zero (no relationship) and 5 (strong relationship).

In this case EBIT (Operating Income) has the strongest relationship to share price, with the company's Market Capital value at 56.9x EBIT (Operating Income).

+ In cases of change in accounting period length, the average is for the last 3 periods. In all cases, it is dependent on published available data and may be for periods shorter than 3 years

± The ‘Strength’ bar shows the strength of the statistical linear relationship of the metrics shown in the chart over the last three periods of data.

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All data provided by Fregnan.

Click here to download a glossary of terms.

All data provided by Fregnan.

Last results date:     31.12.21
Enterprise Value £70.10m
EV/EBITDA 36.73
EV/EBIT 56.86
   
PE Ratio 62.03
PEG (625.41)%
Dividend Yield -
Free Cash Yield 0.50%

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All data provided by Fregnan.

31.12.19
(£'000)
31.12.20
(£'000)
31.12.21
(£'000)
Income Statement      
Revenue 16,11215,55916,927
Operating Income (EBIT) (2,838)(1,355)1,233
Net Income (4,127)(7,960)1,078
       
Balance Sheet      
Cash 2,4734,8619,215
Total Debt 7,80012,2712,833
Total Liabilities 12,88517,4516,682
Total Equity 31,36323,51231,116
       
Operating Margin (17.61)%(8.71)%7.28%
EPS - Basic (2.89)p(5.51)p0.72p
EPS - Growth 345.08%91.12%(113.01)%
Dividend Per Share ---
Average Shares Outstanding 143.04m144.35m150.21m
       
ROA (9.49%)(18.68%)2.74%
ROCE (8.50%)(4.13%)3.64%
ROE (12.43%)(29.01%)3.95%

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All data provided by Fregnan.

31.12.19
(£'000)
31.12.20
(£'000)
31.12.21
(£'000)
Revenue 16,11215,55916,927
Cost of Revenue 9,7539,9599,819
Depreciation & Amortisation 1,5631,300676
Gross Profit 4,7964,3006,433
Other Operating Expenses 7,6345,6565,200
Operating Income (EBIT) (2,838)(1,355)1,233
Net Interest Expense 219378184
Unusual Expense (incl. Exceptionals) 1,2476,677388
Non-Operating Expense 19551129
Profit (pre-tax) (4,285)(7,860)790
Taxation 158(99)287
Other Expenses and Minortity Interest ---
Net Income (4,127)(7,960)1,078

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All data provided by Fregnan.

31.12.19
(£'000)
31.12.20
(£'000)
31.12.21
(£'000)
Cash from Operations (2,863)(923)1,439
Cash from Investing (11,935)(1,385)(1,106)
Cash from Financing 4,4424,6954,022
Other Miscellaneous ---
Net Cash Flow (10,356)2,3874,355

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All data provided by Fregnan.

31.12.19
(£'000)
31.12.20
(£'000)
31.12.21
(£'000)
Current Assets 16,56119,87723,104
Non-Current Assets 27,68721,08614,695
Total Assets 44,24840,96437,798
Current Liabilities 12,7566,7684,200
Non-Current Liabilities 12910,6832,482
Total Liabilities 12,88517,4516,682
Net Assets 31,36323,51231,116
Total Equity 31,36323,51231,116

Click here to download a glossary of terms.

All data provided by Fregnan.

Address

Business Address

Chapel Down Group plc, Chapel Down Group plc, Level 2, Civic Centre, Tannery Lane, Ashford, Kent, TN23 1PL, United Kingdom.

Email: sales@chapeldown.com

Phone: 01580 763033

Registered Address

Tenterden Vineyard Park, Small Hythe, Tenterden, Kent, TN30 7NG, United Kingdom.

Contacts

Corporate Adviser

Singer Capital Markets Advisory LLP, 1 Bartholomew Lane, London, United Kingdom.

Email: James.Maxwell@singercm.com

Registrar

Link Group, 10th Floor, Central Square, 29 Wellington Street, Leeds, LS1 4DL, United Kingdom.

Email: enquiries@linkgroup.co.uk

Phone: (44) 20 8639 3399

Research


There is no research available.