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Looks like I caught the bottom š
Let's hope it's all positive leading to results. My first target at present is 100p. I will then assess this when results are published.
GLA
There is life in the old dog yet. I maintain this should be Ā£1.50. Good Xmas all
Nice rise later today, lets hope it keeps going until results come out
Hopefully good progression and an increase year on year profits will drag the share price up ā¦ā¦ā¦
I wouldnāt be surprised if D BAY increased their holding further.
I am not sure I can see a buy out at these levels, if Dbay themselves paid Ā£1.50 per share for their stake, and their previous offer of Ā£1.50 for a take over was declined. Any take over would need the consent of both Dbay and the founders agreeing. I cant see either agreeing to lower, and I cant see DBay paying that sort of valuation now. I bought in today and am happy to hold in my pension until this gets concluded, but im not sure it will be soon. Any one have any thoughts on this?
Buy out imminent at these low prices. Hopefully the share price recovers next month
With a p/e of around 3.6, debt going down and less than half the market cap it was not long ago it's only a matter of time.
They are making some good head way with Mercedes and also growing in the housing sector. I believe the down trend has been because growth has stalled but it's been way overcooked.
Also in these ranges wouldn't be surprised to see another approach.
Same Trendz, been holding for a few years now. All I've seen in that time is a trickle down in share price where my inaction has meant I'm now definitely in for the long term, as I can't justify selling at these levels. It's very cheap and certainly not a basket case company but I don't think management have helped themselves at times. They were consistently selling shares and putting the brakes on the SP for a couple of years after listing due to that, before then selling a huge chunk to DBAY, only to then reject the inevitable takeover offer from DBAY which looks to have been a bad choice given where management have taken the SP today. Then there was the much anticipated VW claim which amounted to nowhere near what was muted due to out of court settlement (why settle out of court when there was literally no chance of losing). And, debt was previously rising in line with profits and was manageable but over the last couple of years it has really ballooned. The SP will revert to a more reasonable level only when management get a grip of it, start reducing these case back-logs, bringing in cash and paying down debt substantially. It is critical in this higher interest environment. If debt goes up any more on next results / update I'll probably cut my losses. Hopefully they can start to turn this around though.
Yep ive still got mine, down though, but holding to see where it goes. Needs an update now or director buys to move it probs
Still holding ANX. The return of the bull market should eventually trickle its way down to forgotten companies like ANX. One of the cheapest in the UK listed space. GLA
All markets are well down and depressed now. The company is keen to drive down debt which will improve margin and the share price should follow. I do suspect however the company will be bought out by another as the value is too appealing now.
Still hanging around this? Didn't they tell everyone there would be little shareholder return as they focus on debt or was I dreaming?
And someone else is selling, strange that, what do they know?
Someone with a lot of money is loading up :)
Someone just picked up half a million Ā£ of shares at the closeā¦
Hi trendz and smorrisjones, thanks for the advice and pointers, it is very much appreciated. In terms of timings, if I have timed it right, it is a complete fluke on my part. I just sold my large position in revb (too emotional to hold too much in 1 place for me) and decided to split it between 3 companies including anexo which embarassingly I had not heard of until this weekend. Fingers crossed it climbs upwards and I will read the bits you pointed me too. Cheers andy.
Yep, very good timing - almost picked the bottom! When this breaks the Interim results day high (67/68p), we could see this move fast...
Hi Andy
The company is currently trading well. They are restricting some avenues of revenue to create a strong balance sheet. All major fee wins will be directed to paying down debt as it currently stands.
The company is trading well undervalue in my opinion and should be over a Ā£1 at a minimum. I would suggest reviewing some of the investor presentations as they are quite self-explanatory. Personally I have high hopes for this companies future, and hope that patience will be rewarded in 5 to 10 yearsā time. But I do feel you may have got into the stock at the right time.
Good luck.
Hi Everyone,
I bought in as a new holder yesterday. Can I ask people if the price is low purely because of the debt or is there something else weighing down on the price?
Cheers,
Andy
Current and forward p/e of 4. Debt under control. Less than half NAV.
Added 15% to my position on this dip. Surprised to get another bite at low 60s after the Interims and broker upgrades.
The volume days were sellers into demand.
They were waiting to unload more.
Stock had to come from somewhere.
Lets see what unfolds.
Strange share price reaction to the strong Interims?!
Glorious. Will be nice to see this back to a three digit share price in the not too distant future!
The debt is now well and truly under control. I think once the market fully digests this, the brakes are off and we should rerate to a more normal valuation.
Bon chance
Zeus have released a new 23 page note this morning. They don't have a price target, but summarise with share upside of >100%:
"Valuation:
Anexo trades on an FY23E EV/Sales of 1.0x, an EV/EBITDA (inc. lease liabilities) of 3.4x and a P/E of 4.2x with a prospective dividend yield of 2.4% based on a conservative c.10% payout ratio of adj. EPS. Relative peer multiples imply share price upside of >100%. Our forecasts do not assume any benefit from the Mercedes Benz Emissions Claim, despite the manufacturer having already paid-out in the United States. An agreement in the Group Litigation Action currently in process would result in additional material cash inflows in 2024."
They also state:
"On an EV/EBITDA basis, comparable peers suggest Anexo should trade at least double its current 3.4x multiple. Assuming Anexo traded in line with the average of the UK legal services sector FY23 P/E of 9.5x would imply a share price of 149.4p, upside of 125% versus the current price. Removing Keystone Law, which trades at a premium to the wider sector, would still imply a PE of 7.3x, or 175% upside to current levels. Our forecasts do not include any benefit from a potential agreement in the ongoing Mercedes Benz Emissions Claim, despite the manufacturer having already paid -out to consumers in the United States. Anexo is representing 12,000 claimants in the Group action,. The Group also sees scope for further action against at least six other major manufacturers over time."