Investment theses

Business platform and core expertise are established and provide strong base for future growth

1 Mature Business Platform

  • HMS Group business is based on the mature and established business platform with a focus on products where the Company has unmatched R&D expertise and production capabilities
  • The company has stable recurring business with confirmed order backlog for the next year
  • EU presence: HMS Group has access and is conducting business with EU engineering companies (Siemens, Alstom, etc.) through its EU-based subsidiary Apollo Goessnitz
  • Business is to be further developed organically, i.e. currently there are no plans for M&A
  • Further development will be held with low CAPEX at ca. 1.5x of D&A level

2 Entering New Markets

  • Further development of business with Gazprom & other majors in oil & gas industry by executing large customized projects in all key segments of HMS Group
  • Customers in new markets are already a part of the client base and offer strong future opportunities
  • Return to the market of oil transportation on the back of localization of trunk line pumps in Russia
  • Oil & gas refining and petrochemicals represents another growth area with expanded strong references, incl. international engineering majors

3 Optimization of the Business Portfolio

  • HMS entered oil & gas infrastructure construction segment in 2007 with a view to offer integrated solutions
  • Following the financial crises, this segment saw a sharp decrease in profitability
  • HMS Group decided to exit the segment and continues to develop Engineering and Procurement (“EP”) business, based on HMS products and engineering competences
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