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Financial and operating highlights · Revenue of £236.0 million, 1.0% lower than the prior year LFG revenue and gross profit were 5% higher than last year; Lower contribution from our Wind business due to lower wind speeds; Weaker wholesale power prices for assets priced on a day-ahead basis; · EBITDA before operating exceptional items of £142.8 million was 3.8% lower than the prior year; · Strategic divestment of our non-core Hydro business for £20.5 million in February 2015, the proceeds of which will be reinvested in our onshore wind pipeline; · Net debt reduced to £534.7 million and leverage was flat year on year at 3.7x; · Final dividend declared of 12.2 pence per share, bringing the total dividend for the year to 18.3 pence per share.
Infinis Energy plc (Infinis or the Group), the UK’s leading independent generator of renewable power, is pleased to announce its preliminary financial results for the year ended 31 March 2015. Eric Machiels, Chief Executive Officer of Infinis, commented: “This is our second year reporting as a listed company and we are pleased to announce financial results in line with expectations. Infinis Energy exported a total of 2.5 TWh of renewable power across its landfill gas and onshore wind power plants. Despite the weakening of UK wholesale power prices experienced throughout the year, our EBITDA before operating exceptionals1,5 of £142.8 million, was in line with expectations. The highly cash generative nature of our business continues to underpin our dividend policy and I am pleased to confirm that we intend to pay a final dividend of 12.2 pence per share, bringing the total to 18.3 pence per share for the year. This is in line with our dividend commitment of £55 million for our first full financial year. We are also well on our way to deliver on our growth commitments in onshore wind with 43 MW of new wind plant capacity currently in construction and 66 MW expected to reach financial close
Close of Play...3 x as many buys as sells, on 20% above average volume Seems to have bottomed but Patience required here...
Ok but how do you value Infinis? I'm not interested in SPW or wind I'm interested in how you value this equity? As I asked EBITDA multiple or dividend yield or PER of DCF of cashflow to equity or what??
is certainly worth more than just nearly half price it was a year ago, especially if we capable of reading the facts as kindly posted by DoctorShares. Not forgetting articles from the Scottish Power regarding the extra income that the wind is continuing to blow in. Scottish people have cottoned on, mm's don't care a dam about the SP and are just looking after their own interests.(Proof is in the figures I have).
Ok so purporting to know so much how would you value Infinis shares? EBITDA multiple taking into account landfill on say 6x and wind on 9x? Or PER or dividend yield? Where do you see value here and why?
knows the facts about Infinis, it also seems the Rutter do, as they appear to be buying up chunks of Terra Firma shares.
Project development: – aim to build out 130-150 MW of new operational onshore wind capacity by March 2017 as well as progressing an additional 200-250 MW onshore wind development pipeline – an Edinburgh-based in-house development team covers all key project management areas including estate surveying, planning submission, energy yield assessment and grid technicalities Plant construction: activities managed in-house include: – Project procurement – Project financing – Power contracting – Construction project management
Long-term portfolio stability: – all plants grandfathered under the RO regime – site leases and gas agreements secured over the long-term Predictable energy yield: highly predictable base load LFG complements intermittent wind Operational excellence: most power plant maintenance activities are provided in-house through highly trained technicians Cash flow generative: once commissioned and operational, the power plants have predictable operations and maintenance (O&M) spend and benefit from indexed revenue support schemes
Onshore wind capacity growth plans on track; A'Chruach (43 MW) in full construction; pre-construction begun on Galawhistle (66 MW) ff Longer-term pipeline of onshore wind projects well positioned for the new CfD regime
Final dividend of 12.2 pence per share proposed, delivering a full year dividend of 18.3 pence per share, £55 million overall, consistent with our dividend commitment
So having taken a real beating for one reason or another, trades today are not far off 50/50, are we bottoming out? Having taken the loss, does one stay in for the long term, maybe with new government subsidies... people who are buying must be of the opinion there will be a profit at some point, there are, and have been so many buys they cannot all be silly! Whereas as the sellers are rightly protecting what capital thats left which is scary after such a sp drop which we have experienced over the past week.
Many thanks DoctorShares for your logical and enlightening posts presenting actual facts regarding the image and excellent performances of Inifinis . . ....
Many thanks for your logical and enlightening posts presenting actual facts regarding the image and excellent performances of Inifinis. Unlike what the would be wreckers of Infinis come out with just to try to justify what the mm's have been getting away with. Apart from xd activities, (by the way there are shares that sometimes go up on xd), NA100 is correct in that there were 3 buys to every 1 sell last Wednesday when the mm's hauled down Infinis's SP by 11%. Totally illogical
Sorry what has cutting and pasting this, got to add to the valuation debate? Nothing I think.
Infinis was established as an independent company in May 2006 prior to Terra Firma, the private equity group, selling the Waste Recycling Group Limited (WRG), its former parent company, in July 2006. Since then, our business has grown both organically and by strategic acquisitions. Infinis Energy is the third largest renewable power generator in the UK. It operates three technologies: landfill gas (about 40% market share), onshore wind and hydro. Infinis Energy owns and operates 147 power plants distributed across the UK and has a total installed capacity of 621 MW. In the last financial year Infinis Energy generated 2.5TWh of clean, reliable and relatively affordable power, enough to meet the needs of more than 1 million electricity users.
Strong finish to the day...so that might be a Jolly Mad Bottom...for now at least?
amberrudd If u all contact her web site ask for support not to stop wind farms. She will be shown the wind farms in scotland holeing for her support , Energy Secretary Amber Rudd has said ending the scheme meant energy bills would not need to rise. Contact support http://amberrudd.co.uk/
No the day the share goes xd is when the price falls pari passu to reflect the non entitlement. It fell on budget day because of the loss of the LEC then again when Infinis quantified the eps hit. So all perfectly logical. It's now down 25% so about the same intrinsic value as when it was 190p odd. It's all quite simple!
I agree however people were still buying. the MM's chose to reduce the value of the share !! whos to say the SP wouldn't have stayed the same or increased as the div was on offer. The next day XD id expect a drop as the d is no longer available.
Yes but you are forgetting the 20% loss of equity value through the cancellation of the LEC. That plus the xd gets you to 25%. Which is roughly where we are.
My understanding of the stock exchange may be limited but as I undersatnd it when there are more buys than sells share prices should rise and when there are more sells than buys the opposite will happen however in this case the market makers have clearly manipulated the share price. To put this in context. Infinis shares were going ex dividend on the 9th July and there were 3 times the amount of buys than sells. This should have pushed the SP up however At 1.35pm the day before ex dividend day, in a period of just 2 minutes the mm's reduced Infinis share price from 194.25 to 188.75, despite there being more buys than sells in that period. Yet during a subsequent period, 1.41pm to 1.43pm, when there was only buys totaling around 20,000 shares, they kept Infinis shares at the same level. Over the next few days the share price was pulled down a further 25p for a dividend worth 12.2p ????? The mm's had hauled the SP down 17p yesterday after lunch on the budget news even when there was 3 times more buys than sells ????? That's 39p ????? almost 20% for a 6% divi. ( to quote FL ) In a period of 1hr 20min, overall 5792 were bought more than sold, yet the mm's dropped the SP from 166p to 160p. Thurs afternoon in 25min 4093 more Infinis shares were bought than sold yet the price dropped further to 158 in that period. Not just free fall but free haul down by the mm's nothing to do with genuine buying and selling. Then Friday 10th July the mm manipulated the SP down from 163.5 to 160 in a matter of minutes disregarding that there were again more buys than sells in that period.
Renewable energy company Infinis Energy has reached a deal to acquire an 18.5 megawatt consented onshore wind farm project in Northumberland from Peel Group. Along with the 8 megawatt Sisters Wind Farm project developed by Infinis, which neighbours the newly-acquired project, the facility is at an advanced stage of construction and the London-listed company said it expects grid energisation to take place in June next year. Last week, the Department of Energy and Climate Change said new onshore windfarms will be excluded from a subsidy scheme from 1 April 2016. "We are driving forward our commitment to end new onshore wind subsidies and give local communities the final say over any new wind farms," said Energy and Climate Change Secretary Amber Rudd.
With greatest respect so what?
Shares sold: 61.22% Shares bought: 38.78% Infinis