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Ah ...exciting new products like the HFO engine ...that was a real showstopper . The basics are that you have to run an alternator via an engine .Gas never took off because essentially you need a gas supply ...duh ! I agree that the heady days of £24 have gone forever but IMHO they have to look again at reducing the cost base even further with deeper cuts.
LTH Tom - got some exciting products in the pipeline but it will take time. The glory days of 24 quid will not come back but i am very confident that Aggreko are undervalued at current MCAP. ATB and All in my Opinion
Dropping like a rock today. Aggreko can't seem to get it right ever since this Weston bloke turned up. Not sure whether macro factors are completely to blame anymore... It appears we have decidedly gone ex-growth - therefore that growth premium in the SP will burn itself off. We haven't been able to increase the interim dividend since 2013... we're now even going into debt to pay the dividend...
AGK Aggreko, AGK Aggreko chart looks rather bullish with SP filling GAP. Decent broker backing aswel. Forward P/E to 2018 16.2 http://content.screencast.com/users/mickkipper/folders/Default/media/b24f5ad4-6f8f-4a6c-96ab-9bda371ab54b/agk%203.jpg <b>Aggreko provides rental power generators, temperature control equipment and compressed air systems to companies around the world. Its rental equipment includes quiet, gas & diesel generators, load banks, heaters, air conditioners and chiller rentals for planned and emergency projects.</b>
AGK Aggreko AGK chart looks very interesting just about to break into a GAP, could be very profitable if this pans out positively. http://content.screencast.com/users/mickkipper/folders/Default/media/8665343d-d7c3-40cd-b09a-5bd0337b5552/agk%202.jpg
Are where , zimbabwe is a shambles , old diesel units from everywhere and any where and no qualified engineers to maintain them , other projects coming of line , using contracted cheap inexperianced local labour who call themselves Aggreko technicians lol the writing is on the wall .......
Seems like aggreko broke through the bearish sentiment,now much more optimistic with big contracts in the pipeline.
Temporary power provider Aggreko (LSE: AGK.L - news) was under the cosh after UBS (LSE: 0QNR.L - news) downgraded the stock to 'sell' from 'neutral' and slashed the price target to 800p from 1,050p. "Weak markets have undoubtedly been a headwind for Aggreko for the past 3 years, but we now believe that Aggreko's problems are structural too," the bank said. As the power rental market has matured, Aggreko's competitive advantage has been eroded, UBS said. As a result, it expects pricing to come under increasing pressure, eating through cost savings and further compressing return on invested capital. "A new product line is likely necessary to reinvent Aggreko, but we wouldn't expect to see a material benefit until 2020+m," it said, adding that it expects to see continued earnings risk and for the valuation to remain constrained. UBS said Aggreko urgently needs to launch a new product before it can hope to rebuild a unique competitive advantage and hit targets for return on capital employed.
All based on hot air and 'promised' savings of £80m. The reality is somewhat different..... Engineers being forced to pay for their own excess baggage for their tools when they travel while managers STILL lord it up in business class. No large projects. Management team with its head up its own backside. No clear direction on development and infrastructure projects. They are spending MILLIONS needlessly. There is always room for efficiencies but sacking nearly 10% of the work force has taken away the ability to do what they did best. Rupert Soames saw this coming...they failed to plan for the future and just sat back and did nothing when times were good...reactive and never proactive. When the city finally realises that the £80m savings promise is built on hot air and that revenue and profits continue to fall the share price will drop like a brick...
How about 600 redundancies globally and promised cost savings on procurement of £60m - not that I see the planned savings being delivered .It was once said that a great company would not become a poor company overnight - maybe not but they have become a very ordinary Company since Soames jumped ship and were relegated into Div2.
We have been in from the start when they were given to us free by Christian Salvesen, one of our best ever investments having sold half between £15 and £22. The old management seemed to take their eyes off the ball, after the great period when they were doing world cups and Olympics so brilliantly. Glad they pulled out of RIo though. Always thought they would be taken out by someone like GE, who sold some of their US assets to Agk some years ago. Anyone got any idea what is moving the price now? Particularly after the recent downgrade,
Bought out by Apple Bidco Ltd January 2016
Has happened to APR were they bought over or gone bust
Dead Cat Bounce?
Yes Bawsy boy - I totally agree but as I have stated many times they need to bring in new people with fresh ideas and NOT continue to reshuffle the chairs on the Titanic .I would like to see the "old school" put out to pasture and stop letting the accountants run the business.
so sad to see what used to be an exciting progressive company in this state .
http://www.sportbusiness.com/sport-news/aggreko-pulls-plug-rio-2016-tender-%E2%80%93-report
is why did Asterios leave , ok for other challenge ,but surely the challenge to get Aggreko back on track is a bigger one than with Blue Line
No wonder share price dropped with the announcement of Pool taking over as President ,Rental Solutions !
On a serious note one has to ask why the management became so fat dumb and happy and never saw this coming or maybe they never realised what prompted SOAMES to jump ship. The excess's of previous management's have stopped hopefully but the little people will now "pay for the sins of their fathers.
No no no 18 is the number of people who will be left at Aggreko after the jobs cuts now and in Q1 next year...
No free it's the average survival time ,in months of the top managers
Is that the average age of the new management
Orange blood,orange excellence,orange handprints nothing but gimmicks mate - next one Aggreko 18 !