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Will drop below 800 I believe on FY17 being lower
Aggreko Price is now recovering very fast and in advance of results, which should no doubt include forward thinking statements regarding a very positive outlook having won the Winter Games Pyeongchang 2018 contract and I still feel this share could go back to the £13 held last year very soon, which still has 20% to go to return to last years 12.75 price.
Aggreko up now 40p on my first post as I understand the share price increase (although not totally unexpected as you can see from my earlier posts) is due to preparation by fund managers for excitement from the results due out soon, which will reflect an upswing and ramp up considering the Winter Olympics contract win worth $30m, which leads this share being closely monitored for larger corporations gaining capital value on the rising dollar, or in short this stock is a take over target!
I see Donald is now speaking today re.USA infra-structure increased spending, Aggreko should benefit, what with this and raised indust.output needs. It is also good to what I said yesterday that the US are buying this stock which is lets face it a good safety one too, especially after a couple of storms!
What with the USA infra structure being encouraged - it was interesting to see the Aggreko share price go up after UK close on Wall street? Hopefully we should see a belated increase in early trade tomorrow!
AGK Aggreko, on the verge of a breakout. Target SP now 1000p. http://content.screencast.com/users/thomaser/folders/Default/media/a9f79d87-5414-4caa-b8a7-fef3852253f4/agk%207.jpg
Aggreko wins contract to provide power at 2018 Winter Olympics 04-01-2017 07:52 Jan 4 (Reuters) – UK's Aggreko Plc said on Wednesday it had been appointed the official temporary power provider for the 2018 Winter Olympics in Pyeongchang. The company, which is the world's largest temporary power provider, said it would provide power across 18 competition venues and broadcast centre as part of a contract expected to be valued at around $40 million. ... Aggreko had earlier pulled out of a tender to supply generators to the Olympic Games in Rio de Janeiro in 2016, after not being awarded the first tranche of contracts. ... The contract win comes amid a tough period for Aggreko, which said late last year it was reviewing the value of its North American fleet of oil and gas rental generators after further weakness in that market hit its quarterly revenue. ... Aggreko would be a sponsor for the Pyeongchang Olympics as part of the deal, it said on Wednesday. Asia's first Winter Olympics outside Japan will see the coastal city of Gangneung host figure skating, curling, ice hockey, speed and short-track skating events, while Pyeongchang, some 180 kilometres east of Seoul, will stage mountain events. (Reporting by Esha Vaish in Bengaluru; Editing by Amrutha Gayathri) ((esha.vaish@thomsonreuters.com; +44 20 7542 1810; Reuters Messaging: esha.vaish.thomsonreuters.com@reuters.net) Keywords: PYEONGCHANG OLYMPICS/AGGREKO © Thomson Reuters Limited. Click for restrictions
BRIEF – Temporary power provider Aggreko wins contract for 2018 Winter Olympics 04-01-2017 07:17 Jan 4 (Reuters) – Aggreko Plc : Olympic Winter Games Pyeongchang 2018 contract Appointed official temporary electricity generation provider for Olympic Winter Games Pyeongchang 2018 Value of contract is expected to be around $40 million As part of agreement, Aggreko will be a sponsor of Olympic games Source text for Eikon: ... Further company coverage: AGGK.L (Bengaluru Newsroom: +91 806 749 1136) © Thomson Reuters Limited. Click for restrictions
REG - Aggreko PLC - Olympic Winter Games PyeongChang 2018 contract<AGGK.L> 04-01-2017 07:00 RNS Number : 2342T Aggreko PLC 04 January 2017 4 January 2017 Aggreko plc Aggreko appointed Official Temporary Electricity Generation Provider for the Olympic Winter Games PyeongChang 2018 Aggreko plc, the global leader in the rental of power, heating and cooling, is pleased to announce that it has been awarded a contract to be the Official Temporary Electricity Generation Provider for the Olympic Winter Games PyeongChang 2018. It will provide power across 18 competition venues and the international broadcast centre, ensuring an uninterrupted television broadcast to millions of viewers throughout the world. The value of the contract is expected to be around $40 million and as part of the agreement Aggreko will be a sponsor of the Olympic Games. Aggreko has a proven track record in supporting high profile events and also recently announced it would be providing the power for the 2018 Gold Coast Commonwealth Games in Australia, Australia's largest event for over a decade. Chris Weston, Chief Executive said: "I am delighted that Aggreko has been appointed the official power provider for the Olympic Winter Games PyeongChang 2018. We look forward to helping the organising committee deliver another successful games." Enquiries Investors & Analysts Louise Bryant, Aggreko plcTom Hull, Aggreko plc +44 7876 478 272+44 7342 056 727 Media Liz Morley/Sam Cartwright, Bell Pottinger +44 20 3772 2500 Notes to Editors Around the world, people, businesses and countries are striving for a better future. A future that needs power and the right conditions to succeed. That's why Aggreko works around the clock, making sure our customers get the electricity, heating and cooling they need, whenever they need it - all powered by a trademarked passion, unrivalled international experience and local knowledge. From urban development to unique commercial projects and even humanitarian emergencies, we bring our expertise and equipment to any location, from the world's busiest cities to some of the most remote places on earth. Every project is different, so Aggreko listen first and design a system around our customers, delivering our service and support anywhere, to any scale. Transforming the lives and livelihoods of individuals, organisations and communities across the globe. This information is provided by RNS The company news service from the London Stock Exchange © Thomson Reuters Limited. Click for restrictions
A Plant purchase Hewden generator fleet plus last years investment of 320 new generators will put enormous pressure on Aggreko's rates which have to support a top heavy management structure - could be an interesting battle for the UK mobile power market.
" Chris Weston said the company's full-year results would be broadly in line with expectations, with pre-exceptional profit before tax of around £225m, despite its latest results showing a 7pc dip in revenues in the third quarter. " http://www.telegraph.co.uk/business/2016/11/16/aggreko-chief-seeks-to-reassure-investors-despite-sixth-quarter/
3rd Quarter Trading Update and another 4.6% hammering....these guys are sailing in quite a storm...with so much unknowns with regards Trump,oil,the US etc it is difficult to predict when the worse will be over for AGK..
AGK have been good to me in the past.......looks pretty oversold to me, solid Company, not much really changed over the past year or so. I was hoping to dip my toe back in below 800p but decided it may not happen so jumped back in at 818. If she drops further I will just add more. Good longer term hold I feel.
They are marking time at best. Still struggling to find big or even reasonably sized projects. If the share price drops much further they could be prime targets for a takeover bid...they are very asset rich.
Credit Suisse stuck the boot in with a 740p rating and "underperform" outlook... 8.72% dropin SP is hefty
Looks like they took their eye off the ball. Head count reduction next
The other issues that while it is all well and good providing temporary power for a disaster area but ultimately it still has to paid for. Haiti is plotless so how,will they pay for it? It's not like the post earthquake supply to Japan...japan had lots of money. Also there are already rumours that because of the woeful state of the Zimbabwean economy there is a real danger that the revenue stream for that could be intermittent or even fail.
Maybe so , but who would build a business strategy based on natural disasters ?
AGK will benefit from the need of temporary power solution caused by the hurricane
Spot on SOR - the people who add value have been dumped whilst the highly paid Global Tourists continue to bask in former glories ,producing little output and continuing to get rich !!!
Well the chickens are coming home to roost. After having got rid of the skill set they are now struggling with problems onsite because they don't have experienced engineers to sort the problems. They are now in panic mode in Zimbabwe and are having to pay 1000's for external consultants to go and sort the issues out. Most of the remaining engineers on Dubai are running scared for their jobs and the culture is now one of fear. The rumour mill is working overtime! Such a shame that a company that was a world leader has come to this. To fair I think Chris Weston inherited a poison chalice but he certainly hasn't helped the situation. I've sold my shares and just about broke even. I suspect that EOY results will be mediocre at best so I don't see the share price recovering anytime soon.
I was a manager in 1 of the Middle East locations and left on my own accord. Will forward email address shortly.
You were an engineer , The new product is based on a Man HFO unit , it can't be any worse than the converted G3 that millions was wasted on . and also tarred Aggress with a bit of a bad rep . There share shave scheme which you were in was good at the time lots of guys made good money on it but that was back in the day . Send me a throw away e mail address and we can chat
SBFG - I also sold in the glory days but have got more (tied into a 3 year fixed price share save in Jan 2008 sold 3 years later at its peak). I recently left Aggreko but still have faith they can turn things around. The HFO product is exciting for certain areas in the world and the NGG gas has massive opportunity not just in the utility sector. Will be a tough year '16 but might be a buying opportunity towards the end of the year.
How much cuts can you make before the bottom falls off . Staff have been cut , and more to come , Engineers with years of experience all paid off , and re placed by local workers eg cheap labour . More competition so need to reduce project selling margins and not winning major contracts like they used to . They have a new gas engine , but as said before you need a good gas supply to run it , so a few years before that comes on line . Cant see this going back up anywhere soon . Glad I sold out back in the day