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VANL

Van Elle Holdings PLC

Construction and Materials First-pass screen £54m
320/1000 Overall fit
AI beneficiary 35% 20
Operating leverage 25% 35
Valuation 25% 30
Downside protection 15% 55

First-pass take

Van Elle is a cyclical UK construction/engineering contractor with no AI exposure and negligible operating leverage. Margins flat at 3.9%, housing and infrastructure end-markets are soft, and despite net cash of £5.5m, thin margins limit downside protection.

Flags

no-ai-exposurelow-operating-marginscyclical-demandhousing-headwindsinfrastructure-cyclicalno-valuation-datamicro-caplabour-intensivethin-downside-cushion