Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Shaperite/FD
We do indeed all understand the serious straits Mars are in, but the fatuous noise from the apparent rampers prominent on this BB always studiously avoids the debt, clearly most people do read both sides of a balance sheet but I guess their exercise is to pass it on to the greater fool theory ?
I can see no other reason why people come up with nonsense numbers not even good enough to write on the back of a *** packet to try to tempt some poor ill informed punters in to the stock.
It really is a sad way to invest, trying to flush in ill informed punters, but some of these characters who post their regular puffs appear to be quite shameless.
taking into account debt, the property assets, and the Carlsberg Marston Partnership, what realistic MCAP value would you place on the business?
I personally believe a good fair value is £500m, however I would very much be interesting to know what others are thinking and worked out.
SHAPERITE, we are on the same Hymn sheet. Have saying for months any company that breaches9fails to pay) it's loan agreements, has serious problems. Those loan agreements were based on very favourable terms and yet MARS were unable to meet it's obligations. Now revised terms have been agreed with Loans on a mix of floating and fixed rates. Against this background, it is difficult to see how sound Financials can be achieved without a large injection of capital.
Hope Pedigree continues to be brewed, seems Banks Bitter is hard to find even in the Wolverhampton area.
Gentlemen, As we all understand , a dedt of £1 billion is not negated by a portfolio of prorerty said to be valued at £1 billion
especially when the cash flow to service the said first billion is in negative territory ! Been with this share for over 5 years and this is by far the worst position they have been in, they have set an agenda of selling off some of their estate in an attempt to assuage their creditors, but in this climate who will pay premium prices for a depreciating asset ??? Tougher times ahead - but I STILL LOVE PEDIGREE !!!!!
Karl having been here more than 5 years, short term is only for Traders, not me.
Have seen it all, a CEO who had pretensions of Grandeur, consequently allowed a debt pile to accumulate to the level now seen.
How have you arrived at a £1b valuation of the CMBC company?
Mmmmm. Things must have changed since I retired. When I was working I don't think I ever met an investment fund manager with an investing horizon approaching 10 years....10 months would have been a push.
you are looking at things into short term, there is tons of profit in this in the longer term with the macros going back to pre-2020.
even covering debt, to buy up marstons estate (£1b property) and the 40% stake in Carlsberg/Marstons for circa £2b is a good value. The property estate in affect nulls out the debt if
a big fund could easily acquire this using cheap lending facilities to yield a healthy profit over 10 years.
The Headwinds are Gale force. How ever patient, the Debt has to be maintained. One hell of a task in the current environment.
I only have a small holding here, its going to be a long term turnaround and lots of factors can upset things,we need inflation down, energy costs down, economy turned around, people need to feel better off before splashing out on expensive pints and meals and nights out, baby steps here will take time MARS needs to achieve what they said they would debt below 1b asap and increase margins/lower costs, i accept could be 2-3 yrs before this looks good again , but i have time and the patience, good luck all
larry quite right. Pleased someelse has picked it up. I did not want to keep harping on about debt, which does get ignored.
It is all very well rampers, who are basically Traders, trying to influence genuine Long term Investors.
not sure those maths quite adds up without including the 1.6b debt :(
Marston owns 40% of the Carlsberg Marstons partnership, and owns over £1B worth of property estate.
Currently for less than £300m you can now buy Marstons and asset strip the whole lot to make mega £££££ of profit.
Hopefully we see another take over bid soon, the last one was for 100, so would be 194% profit from here!
Especially as they have now secured through their partnership the rights to distribute and manufacture Kronenbourg 1664 in the UK -one of the Uk's most popular Lagers.
Would be nice to order some warmer weather too, ha.ha! Fingers crossed!
There was a massive Broker upgrade today for Whitbread. I'm expecting this to roll over here.
Have not lost it. But nor have Marston's seen they have won more wards :-
www.marstonspubs.co.uk/news/midas-menu-awards.aspx
Maybe Whitbread are seeing an opportunity for our premium team winning Gold? Anyway looking forward to upgrade in sales figs very soon which will bring in more corporate investors.
Dinoken/FD
Why is it that Super discharger has been so silent recently ?
He did once claim to be very close to management at MARS, was that before the Tesla ?
I do know, of course, that he claims never to lose cash in the LSE, only ever spends time looking at his gains, maybe he has been distracted recently with his calculator ?
DYOR as usual
Dinoken are you serious? Pubs with no beer, many here have made great play of Marstons link with Carlsberg.
Whitbread, cherry-picking Marstons prime sites is very possible. WHB does have a significant War-chest. The only problem for MARS would be being left with a bunch of un-profitable beer-houses. On balance, unless a bid was extraordinary hard to see the BOD going for such a deal. Stranger things have happened, especially, looking back, when MARS leased a load of badly maintained pubs in Wales
Down the pub, where else, which has no beer (no kidding, mast and rigging) and spoke to an oracle who foresees Whitbread getting back into pubs. Name being bandied around was MARS, who have many sites ideal for redevelopment with proposed new Premier Inns. Sounds sensible but only if pub has no beer, which sadly is the case with several Marston's pubs round here, where closest you can get is Guiness. IMO laughable, or is it ?
Hi fellas. Yes, all is well. Sorry to hear I have been missed, but although I'm not invested here, I'll pop in from time to time to share my ditties & humour.
I've always liked this company, I still do to be fair, that's why I've not been bad mouthing it. I invested, it didn't work out the way I wanted it to, but $hit happens, and you have to take it on the chin don't you? Stocks & shares are not piggy banks/ savings accounts and that's that.
I've only got 3 going at the moment, SAV as a long term play, PFD as a safe bet & FUL. Apparently though FUL is subject to a takeover bid atm for pretty much what my buy in was, so I'm scratching my head wondering what to do with that one, but other than that all is good.
Hope you are both well.
Fire sale, Fire sale !! By divesting themselves of basically assets that may be hard to turn a profit on , the BOD have taken the only real option open to them, Debt must be bought under control and obviously any monies raised will go towards this fulfilment. The nagging worry for me is the real possibility that the valuations might not be achieved either in the short term ,or the medium term ,if this comes to fruition the pressures upon cash flow stay apparent ! The precept that another owner would have the ability to turn that elusive profit is speculative at best , considering the state of the economy and the reduced footfall into public houses . One last thought, If I were able to purchase a modest public house in this sale for say £300,000, then I would need to work 10 - 12 hours a day , probably six days a week to try and make a modest living wage - say £25000 p.a. whereas £300,000 can return, at 4.5 % £13,500 whilst I am lying in bed ( and I still retain control of my capital ) Best of luck all, we are going to need it with this share !!
Trent
Good to hear from you, we've missed your pithy comments that made us chuckle.
I bet you are pleased you cut MARS when you did, rather than listening to the puff puff puff of some commenters here who always seem to have an agenda ?
I trust you & family are well, going to your favourite Greek island again perhaps ?
Trent, Good too hear from you. Hope you and the family are well and your investments are profitable?
MARS still in the doldrums, Pubs being sold, debt stubbornly high and, your favourite, NO Dividends.
I just thought I'd pop in to see how everyone was doing. Hope all is well.
All pubs were reviewed based on their performance over the past 5 years and worse performing pubs put up for sale.
I know for a fact some of the pubs up for sale were or had started to turn things around I.e. new management etc but as the performance was based over a 5 year period there up for sale.