Automotive engineer Dowlais (DWL) is poised to announce its maiden results as a public company after its spin-off from industrial turnaround specialist Melrose (MRO) in April 2023.

Shareholders will be hoping the first-half numbers on 12 September help provide a boost after a bumpy start to life on the market as an individual entity, the shares falling around 25% from their 143.5p
peak.

Five years on from its controversial takeover of GKN, Melrose opted to demerge the car engineering parts of that business and retain the aerospace side.

Dowlais encompasses GKN Automotive, powder metal specialist GKN Powder Metallurgy and energy storage start-up GKN Hydrogen.

The market will be looking for evidence of the company’s ability to deal with a cyclical car industry which is also in a major transition from petrol to electric vehicles.

Particular attention may be given to Dowlais’ eDrive business, the company’s solution for powering electric vehicles, and something it has invested in heavily, but where demand has been hit by more car manufacturers producing their own systems in-house.

The company’s traditionally healthy cash flow generation will also be in focus as this is crucial to facilitate further investment in the business and underpin the dividend.

UK UPDATES OVER THE NEXT 7 DAYS

FULL-YEAR RESULTS

12 September:  Mattioli Woods

13 September: Pan African Resources, Ricardo

14 September: Brooks Macdonald, Kier, MJ Gleeson, Renishaw

HALF-YEAR RESULTS

8 September: Computacenter

11 September: MP Evans, Inspired, Engage XR

12 September: Cornerstone FS, Dowlais, Elecosoft, Equals, The Gym Group, Hvivo, IQE, JTC, Smart Metering Systems

13 September: Argentex, Brave Bison, Central Asia Metals, Tullow Oil

14 September:  Arecor Therapeutics, Checkit, Churchill China, Foresight Solar, Glenveagh Properties, Keystone Law, Oakley Capital, Spire Healthcare, THG, Uniphar

TRADING ANNOUNCEMENTS

8 September: Berkeley

12 September: Associated British Foods

14 September: IG Group, Trainline

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