
Alumasc Group plc

The Cavendish View
Alumasc combines market share gains, a growing order book and operational self-help initiatives, providing increasing visibility over earnings recovery. We believe the shares fail to reflect the potential for margin normalisation, stronger cash generation and a return to net cash as end markets improve.
MAX HAYES
Research, Associate Director
Building products for a sustainable future
Alumasc supplies building products, systems and solutions that manage water and energy in the built environment — the drainage under an airport apron, the waterproofing and green roof on a residential tower, the vents and cavity trays in a new house. Most of what it sells is specified rather than bought off a shelf, which means its route to market runs through architects, engineers and contractors, and its growth is tied to building regulation as much as to construction volumes.
The Group reports through three divisions. Water Management covers rainwater and drainage products under the Gatic, Wade, ARP and Rainclear brands, including engineered access covers and Slotdrain systems used in airports, seaports, warehousing and military facilities. Building Envelope supplies roofing and waterproofing systems — hot melt and cold liquid membranes, single-ply, green roofs and combined green roof and solar arrays — for new build and refurbishment. Housebuilding Products, trading as Timloc, manufactures ventilation, access and cavity products for volume housebuilders.
Housing is the Group's largest end market, followed by public non-residential work — schools, hospitals, prisons — and commercial and industrial projects. Manufacturing is concentrated at Halstead in Essex for the Gatic and Wade brands, with Timloc manufacturing at Howden in East Yorkshire and ARP in Leicester.
Alumasc holds the London Stock Exchange Green Economy Mark. It is quoted on AIM and employs around 475 people.
Attending from Alumasc Group plc

Vijay Thakrar
Interim Executive Chair

Simon Dray
Group Finance Director & Interim Company Secretary
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