Professional
Added to YB: 2026-08-28
Pitch date: 2026-08-25
TRI.L [neutral]
Trifast plc
+1.62%
current return
Author Info
Atai Capital is a long only, concentrated, small-cap value fund. Sign up for the newsletter.
Company Info
Trifast plc, together with its subsidiaries, designs, engineers, manufactures, and supplies industrial fasteners and category C components in the United Kingdom, Ireland, Sweden, Hungary, Holland, Italy, Germany, Spain, North America, Malaysia, China, Singapore, Taiwan, Thailand, and India.
Market Cap
GBP 117.5M
Pitch Price
GBP 0.87
Price Target
0.02 (-98%)
Dividend
2.18%
EV/EBITDA
6.65
P/E
-119.18
EV/Sales
0.74
Sector
Machinery
Category
turnaround
Atai Capital Management Portfolio Holding: Trifast plc
TRI.L (hold): Trifast is executing to expectations as its turnaround lifts gross and EBIT margins from 25% and 5% in 2023 to roughly 30% and 9.5% today, despite weak end markets. At $0.86, the shares trade below 9x estimated run-rate UFCF; $220M of 2028 revenue and a 12% EBIT margin could support $1.70 per share. The unresolved issue is normalized earnings given substantial automotive exposure and extensive customer pruning.
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