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Started: ShearClass, 7 May 2024 10:11
Last post: ShearClass, 7 May 2024 10:11
Worth flagging the below news from last week as I believe it's highly relevant to ELIX;
https://news.sky.com/story/london-listed-consultant-alpha-fmc-draws-takeover-interest-13126764
AFM is trading at 435p this morning, valuing the business at £497m with FY24 EPS forecasts of £29m PAT & 22.5p EPS, so on a P/E of 19x.
ELIX is currently valued at £286m on FY24 forecasts of £21.7m PAT and 40.6p EPS, so on a PE of only 15x
I see very little reason for such a discount to exist, if anything ELIX should be more highly valued given that AFM's FY23 operating margin was ~10% whereas ELIX's was ~24%. ELIX is also growing significantly faster.
If AFM is taken out above it's currently trading level then I suspect money could flow into ELIX and re-rate it back to where it traded in mid 2022, albeit the 780p ATH was a PE of ~25x, so the relative valuation now would still be substantially cheaper.
Last post: Sheepy57, 29 Apr 2024 16:43
I didn't hear anything new at the presentation but they say boring is good. Very undervalued.
Really surprised this has fallen back to 473p ask, some 10% below the post trading update high. The current market cap is £217m, net cash £20m & 2023 forecast EBITDA £24.9m, so ignoring 2023 cash generation / any potentially accretive acquisitions, this is trading at an EV/EBITDA of <8x.
Accenture meanwhile trades at some 19x 2023 EBITDA
FTI Consulting trades at 15x
Super cheap & the market will realise this when results land on Monday IMO.
Thst would be true of the whole market? I am more bullish on the market because everyone is bearish
My guess is that the share price will stay suppressed for some time as we're still in a cost of living crisis.
Results soon will shine a light on this beauty. 25% year over year eps growth
Started: Troajan, 2 Mar 2024 22:09
Last post: Troajan, 2 Mar 2024 22:09
Https://www.thisismoney.co.uk/money/investing/article-13148657/MIDAS-SHARE-TIPS-Tailor-profit-management-consultants-Elixirr-advisers-kings-fashion.html?ico=mol_desktop_money-newtab&molReferrerUrl=https%3A%2F%2Fwww.dailymail.co.uk%2Fmoney%2Findex.html&_gl=1*1boyrl0*_ga*ODI5NDY2MDg4LjE2NzkxNzI1NjM.*_ga_XE0XLFFF16*MTcwOTQxNzIzMi43NS4wLjE3MDk0MTcyMzIuMC4wLjA.&_ga=2.225973017.2036883339.1709414850-829466088.1679172563
Started: MartMcM, 18 Sep 2023 12:41
Last post: MartMcM, 18 Sep 2023 12:41
Elixirr plc posted Interims for H1 2023 this morning. Revenue was up 23% to £41.1m and the Group delivered record revenue in three of the six months in the period. There was a 9% increase in adjusted EBITDA compared to H1 22 totalling £12.3m, maintaining the Group’s strong track record of profitability with an adjusted EBITDA margin of 30%. Adjusted diluted EPS was up 23% to 18.5p. The balance sheet remains strong, net cash was £19.5m with no debt. Valuation remains ok with forward PE ratio 3rd quartile for the sector at 15.7x following a robust break higher since late August. But the share has traded on much higher multiples in recent years and valuation should not be a constraint on further gains. Meanwhile the share is building some short-term momentum. BUY....
...from WealthOracle
wealthoracle.co.uk/detailed-result-full/ELIX/798
Started: Monkshood, 18 Sep 2023 07:31
Last post: Monkshood, 18 Sep 2023 07:31
Look good, seem to have navigated the current tougher conditions better than many of their peers.
Started: DaddyAIM, 3 Apr 2023 10:29
Last post: ShearClass, 4 Sep 2023 13:31
If interest rates have peaked I expect a lot of the higher quality AIM stocks to re-rate quite quickly. I note two such stocks, Instem & Ergomed have been acquired in the last 2 trading days, both at valuations equal to their 2021 highs. ELIX have made plenty of progress in the last 2.5 years yet shares are currently trading level with early 2021, which is completely illogical.
Interims should land in the next couple of weeks and I'd be very surprised if we don't see further upgrades.
It appears it's coming back to life again.
Undervalued given how fantastic they have performed.
PER (f) should be in 20s
At the moment, current PER = 16.
Too cheap for a quality growth company.
Finncap's latest report out.
Strong growth across the board, some margin erosion but this is the trade off for growth.
Organic metrics grow double digit, margins remain super healthy, even on a reported basis with Net Income margin coming at 18%! Cash conversion reduced a bit to 79% but still remains very strong imo.
Outlook is strong, FY 22 momentum “has accelerated during Q1 2023”, with three record revenue months, absolute revenue growth of 52% and underlying organic revenue growth of 19%, a “Strong pipeline for the remainder of FY 23”. Management note they are upgrading FY23 expectations to £85m-£90m revenue (FactSet consensus yesterday was £86m) at an Adjusted EBITDA margin of 28-30%.
Valuation: undemanding with 15x fwd P/E, EV/EBITDA 9x ; uwarranted discount to peer group, it's a bout time this stock rerate... STRONG BUY
Started: golfnut59, 10 Mar 2023 13:13
Last post: turnkey17, 14 Mar 2023 12:51
I got around to it and the presentation is a must watch, hope they get to the 1bn services unicorn in 4 years
20 million of cash too and even if they did strike all the options at 3.20 each thats 34m of acquisition firepower from the exercise that they will probably create more value accretion out of. They have phenomenal cash generation
I would not ordinarily invest in a people business that is reliant on a smallish number of "partners" to generate most of the revenues. However, after watching the recent excellent investor meets presentation I am willing to overlook this anxiety and I have taken an initial position. I am reassured by their innovative staff retention strategy, which for the reason I have just described, is key in a business like this and seems to be working. The only negative of this strategy is the dilution it causes. Currently the outstanding share options are very high at 10.8m shares (strike price £3.16). Whilst only a very small number of these are currently exercisable it is important to be aware that over the coming years there will be a significant amount of dilution. Current share count is 42.6m shares so we are looking at an increase in share count of over 20%. This is obviously quite significant so investors should be aware.
I have to say, it was one of the best company presentations I have seen. The management team came across as very credible, extremely focused and determined to succeed. They have set themselves the goal of becoming a $1B market cap company in the next 3-5 years. Whilst this is a stretch I the current growth trajectory and quality of the management team and strategy make me think its doable. In particular, I like the acquisition strategy, which creates the ability to cross sell. Its clear from the numbers that this strategy is proving to be extremely effective and is already bearing fruit.
Past performance of the business has been stellar. The numbers speak for themselves. They are making hefty margins and growing at CAGAR 30%. Whilst, they describe/market themselves as a challenger to the big consulting firms they have very lofty ambitions and hope to emulate the success story of Accenture which IPO'd in 2001 at $14.50 per share. In December 2021 shares in Accenture were trading hands for > $400.
Current price at 500p does not look demanding at c 15 times FY23 earnings. The most recent trading update indicates that current forecasts for FY23 might be on the light side so potentially we are trading on more like 12 - 14 times earnings.
Anyway, I would encourage anyone who has not watched the investor meets presentation to do so. I think Elixirr has the potential to do great things.
https://www.youtube.com/results?search_query=elixirr
Started: turnkey17, 27 Feb 2023 16:42
Last post: turnkey17, 7 Mar 2023 20:00
agree. a matter of time before they do another acquisition that upgrades eps again as well
Suspect we'll see shares back at £6 before results are announced on April 3rd, a mere 19 trading days away. Crazy that it's trading flat vs the price 2 days before the 27/02 trading update which upgraded 2023 and flagged the business was trading ahead of these figures after the first 2 months... without the illiquid drop on the Friday this would already be sitting at £6+
superb post we also know the year has started above the guidance so upgrades to continue even before acquisitions
The most impressive thing here is how they've massively outperformed forecasts released at the IPO via organic & inorganic growth, without taking on a penny of debt.
Their first finncap initiation note from July 2020 forecast 2022 EPS of 18.9p and closing net cash of £25.9m. In the end 2022 EPS will hit ~29.8p and net cash will be >£20m. This is after paying $14m initial consideration for iOlap and £4.3m for Retearn + Coast. Dividends have also come in at more than double the initial expectations of 4.7p for 2022, highlighting just how well they've been doing.
Looking ahead 2024 EPS is currently forecast to be 36p, however if they continue growing in a similar vein to the last 2 years (and yesterday's update suggests they will) and can execute their planned strategy of 1-2 acquisitions per annum at around 20-30% of market cap, then I think 2024 EPS could easily exceed 50p.
Given this genuine growth potential, I think you can make a case for ELIX trading at double today's valuation, at £5.20 I think it's the best GARP stock on AIM / LSE by some distance.
20x PE is 674 pence target
Last post: Scoobydoo321, 27 Feb 2023 15:20
Looks like sells - where was their elixir when they most needed it?
A couple of big delayed trades from Friday going through @ 415p, someone is not going to be happy, that cost them at least £100k.
Surprising versality by ELIX - meeting upgraded expectations + Q1 ahead of expec - incredible performance.
Must be highly rated by their clients.
Spate of bad news around management consultancy yet they are performing so well. Respect!
They should have released TU around early Feb as per 2022 rather than a response to the drop...
With results to be announced on 3rd April this should be significantly higher in 5 weeks time, there will be a few profit takers from Friday's dip but once they are cleared I can't imagine who would want to sell down here when they were trading at £7 as recently as 6 months ago... It also wouldn't surprise me if we got another acquisition between now and the results as 2022 saw Iolap in March & 2021 retearn.
Started: DaddyAIM, 20 Sep 2022 13:11
Last post: Monkshood, 27 Feb 2023 07:51
FinnCap-
'Elixirr continues to gain market share in a very large end market and, reflecting
the continued growth potential, we have upgraded our FY 2024E EPS by +9%. Elixirr has evidenced
it is not seeing the slowdown others in the wider consulting market have described that has
recently impacted its share price materially, providing a significant value opportunity.'
Fantastic update, 2023 guidance increased vs market expectations and excellent 2022 performance.
Assuming they maintain a 29% EBITDA margin and hit the mid point of current estimates (£86m) they’ll deliver £25m EBITDA for 2023. At 10x EV - EBITDA this would put them on a share price of £6. With mature, slower growing peers like Accenture trading at ~16x EV this would still be cheap…
GL.
Sold out a few weeks ago at 520p.
It takes two to tango.
I had gone to the conclusion that peeps would not be willing to pay a premium for high growth. Therefore, minimal upside.
Not going to rain on the parade anymore.
Long term wise - ELIX is a winner. Short term wise - I do not know.
today's knee jerk reaction is a buying opportunity imo
Added at £4.20, a 15% fall on nothing of any substance creates a good top up opportunity IMO. Enterprise value is now ~£170m vs an expected EBITDA of £20m, so 8.5x EV/EBITDA.
Things can always get cheaper in the short term but this is now trading at a lower valuation than the July 2020 IPO so looks interesting. Let's see what happens...
Started: fastduckharry, 1 Aug 2022 13:34
Last post: fastduckharry, 1 Aug 2022 17:47
A trading update?
What kind of good news are you thinking ?
Soon
Started: DaddyAIM, 1 Feb 2022 11:01
Last post: DaddyAIM, 1 Feb 2022 11:01
trading update ahead, happy days
Started: fastduckharry, 12 Nov 2021 11:06
Last post: fastduckharry, 12 Nov 2021 11:06
Market Maker have been doing a good job of keeping a lid on this share, with so few sellers around. This sale after the secondary placing on October 13 would have been very welcome.
13-Oct-21 12:19:30 630.00 170,000 Sell* 640.00 660.00 1m O
However, today's buys alone have gobbled that block up.
It seems to me that the price has to rise to encourage sales and find the right market level. Currently increased @ 700p to sell.
My personal target price for the year ahead was £8 in the spring. I think that £8.50+ is more likely now.
DYOR as I could be wrong.
Started: fastduckharry, 13 Oct 2021 13:05
Last post: fastduckharry, 13 Oct 2021 13:05
The placing wasn't a surprise. The shares on offer have all been snapped up at a significant 630p (another plus for finnCap). That reflects the strong institutional interest in the company. They just weren't prepared to push the price up too high in a scramble for shares at this stage. If the last placing is a guide, it should place a floor for the sp @630p (barring a global market correction). At least until we get more news from the company.
Last year Elixirr issued a Trading Update on October 19. Can't be certain that we will get one so soon this year, but would expect something by mid-November at the latest.
Started: fastduckharry, 20 Jun 2021 13:30
Last post: fastduckharry, 29 Sep 2021 16:46
FY Revenues guidance of £47-50m looks cautious. £47m would mean lower H2 revenues than H1. Last year H2 revenues were 23% up on H1. Factor in the performance of the new partners and a full half of numbers from the current House of Brands and for me £50m would be a minor disappointment. Too early to worry, nothing like a numberless above market or a forecast upper range of expectations trading update, to boost sentiment. Still leaving a little room to surprise with the final results.
Time to catch another crazy ride on IGAS! Just woken up.
Currently nt to buy
currently up 18%. not much interest on here, but while everyone chases rainbows, here is a dead cert unicorn.
Stephen Newton, Chief Executive Officer said (extract):
"The progress across all four pillars of our growth strategy has been fantastic in the first half of the year with a particular highlight being our US growth, which is a key market for our business, and I'm delighted with the developments"
A reminder, US revenue growth increased by over 100% in H1. The stated ambition is to make Elixirr the No1 consultancy in the World. Obviously to do that, Elixirr needs to be BIG in the US. Therefore heading in the right direction. ELIX shareholders should also be delighted with the developments (with more to come).
Started: Jamesjone5, 27 Sep 2021 14:50
Last post: Jamesjone5, 27 Sep 2021 14:50
another rising soon with great potential #kzg
Kazera Global
Started: Padmania, 27 Sep 2021 10:33
Last post: fastduckharry, 27 Sep 2021 12:58
Was confident that the drop last week was to encourage panic sales. Took advantage to top up. The lack of a definite results announcement date might also have been strategic for the same reason. Likely the board will be put under pressure to offload some more shares. The good thing is that the market makers have been obliged to push the bid price up to encourage sales. Looks as if they will have to push up to at least 700p to sell
Hold on guys this is jumping huge!
Started: fastduckharry, 24 May 2021 15:10
Last post: fastduckharry, 24 May 2021 15:10
Started: fastduckharry, 24 May 2021 15:08
Last post: fastduckharry, 24 May 2021 15:08
Started: fastduckharry, 15 Apr 2021 12:04
Last post: fastduckharry, 15 Apr 2021 12:04
Bought a few yesterday morning, with the intention of getting more if they fell back. Might have to wait (forever). Amazing that they can snap up businesses and their people for relative peanuts, considering how much they are likely to deliver.
Started: Traa-dy-Liooar, 7 Dec 2020 12:45
Last post: Traa-dy-Liooar, 15 Dec 2020 14:57
Yes it is looking strong atm. Long may it continue.
large seller taken out. trading ahead of expectations. significant institutional demand. what's not to like.
spurt in SP and more interestingly, volume. Update due?
Started: lostinspace69, 29 Oct 2020 11:08
Last post: lostinspace69, 29 Oct 2020 11:37
£10m profit and growing 25%++ per annum. On a conservative P/E of 15, gives a market cap of £150m. Suggests 30% share price upside, to reach fair value. At P/E of 20, upside of 75%. Definitely one to watch. £16m cash, debt free, growing fast
Elixirr International plc (AIM:ELIX), an established, global award-winning challenger consultancy, is pleased to announce the acquisition of the entire issued share capital of digital marketing firm Coast Digital Limited ("Coast Digital") for a maximum consideration of approximately £3.8 million plus an additional cash payment based on working capital at completion (the "Acquisition").
Highlights:
· Coast Digital is a UK-based digital marketing firm with 48 employees
· In the year ended 30 April 2020, Coast Digital recorded profit before tax of £0.85 million
· The Acquisition extends Elixirr's existing digital capabilities, enabling us to offer a full-service digital capability to our clients
· Coast Digital has an excellent reputation in the market - its clients rate it 26% higher than the competition and it has won numerous awards, including three awards in the Drum Recommends Digital Awards 2020
· First acquisition since IPO and fully in line with our 'House of Brands' strategy
· Immediately earnings enhancing
19 October 2020
ELIXIRR INTERNATIONAL PLC
("Elixirr", the "Company" or the "Group")
Trading Update
Elixirr International plc (AIM:ELIX), an established, global award-winning challenger consultancy, is pleased to provide an update on current trading.
Trading since 30 June 2020 has continued to be strong with the Group recording another record revenue month in September 2020, following previous record revenue months in June and July 2020.
As a result, Adjusted EBITDA for the year ending 31 December 2020 is now expected to be in excess of £9.25m on an IFRS 16 basis. On an IAS 17 basis, Adjusted EBITDA is expected to be in excess of £8.75m compared to a market expectation of £7.8m.
As at 30 September 2020, the Group had no debt with cash balances totalling £16.8m.
Last post: AIMShrew, 14 Jul 2020 14:00
Direct quote from ex employee "Crushes true talent, rewards psychopaths. Beware FORCED 5 star reviews!"
IPOs are seldom for the benefit of new shareholders. ELIX looks interesting after it's plunged 75%. Harsh? Tough times ahead.
Started: AIMShrew, 14 Jul 2020 11:16
Last post: AIMShrew, 14 Jul 2020 11:16
A quick glance at Glassdoor will show that few survive the intensity and this that do are 'encouraged' to write 5 start reviews Not the recipe for a successful people based company