Added to YB: 2026-03-11
Pitch date: 2026-01-05
KITW.L [bullish]
Kitwave Group plc
+30.67%
current return
Author Info
No bio for this author
Company Info
Kitwave Group plc engages in the food and drink wholesale business in the United Kingdom. The company operates through Ambient, Frozen & Chilled, and Foodservice divisions.
Market Cap
GBP 246.2M
Pitch Price
GBP 2.25
Price Target
N/A
Dividend
3.89%
EV/EBITDA
7.20
P/E
14.63
EV/Sales
0.45
Sector
Consumer Staples Distribution and Retail
Category
value
Kitwave Group plc - $KITW.L
KITW.L: UK foodservice/wholesale distributor focused on regional markets w/ service advantage over smaller competitors. Trading 9x normalized EV/NOPAT, 7x normalized P/E vs 13-14% unleveraged/16-17% leveraged returns at 2-3% organic growth. Foodservice (50-55% profits) hit by DC consolidation, Creed integration, weak UK economy, margin pressure from re-tendering & nat'l insurance hikes causing MSD-HSD organic revenue decline. Nov guidance confirmation signals recovery underway. 1.5x net debt/EBITDA, 50% dividend payout, 20% ROE, mid-teens ROIC on M&A. Risks: CFO Brind retiring Apr'26, Bidfood/Sysco competition in local space.
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