Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Personally am disappointed to hear the news of the exit from battery materials, more from a British science, technology and manufacturing viewpoint. The CEO departure was not surprising considering the deteriorating performance.
JM has great technology positions , perhaps more living on its past glory. The challenge today is all about chartering the company through turbulent times of the energy and transportation transition, being able to create plans and execute change through people.
For me the worrying sign is the leadership churn. While I am sure each of the senior leaders are capable and competent, otherwise they would not have been hired. Executive churn in JM seems to be too high.
Of the leadership team - 1 joined in 2021 (the CFO) , 2 came in 2020, 3 came in 2019 . With Covid restrictions on travel, that's a really short time to really come to grips with a realy workings of a science and technology company with over 10000 employees. To execute change they will need to align and work with the masses. Not sure how some of these leaders have built relationships and walked the floor to understand what needs to change and how to enable enterprise wide change with the trust of the workforce.
When previous CFO and CTO. join a business and move within a few years its perhaps an indication that something is amiss.
Fingers crossed that the new CEO is able to turn this around. On the upside they have a new team with no sacred cows.
After all it would be a shame to a company with a rich heritage like JM be broken up.
I do not remember who posted this link but it was immensely useful to a newbie like me to the stock.
https://www.powerof78.com/category/eua/
I found the detail and the insight given on this very useful. It helps me understand why the long term holders are so positive about the stock
Thank you to whoever who posted this and thank you to gmf78 !!!
Thanks Sean83.
When I read it what I took away was this
- they need more funding for the overall project but the partners would be a source of most of the funding and
- this placing as a source of funding was applicable till July 2020 or next AGM whichever was earlier.
Hence I was not sure why it would still be relevant as if they needed more funding they will have to pass it at the AGM.
But I guess we will find out more post the AGM. Does anyone know when that is ?
@sean83
your post and link from the lse
Is this not from July 2019 - so thats like a year old. Explain to me why this is relevant now ?
Thank you for sharing your perspective - Donatron. I agree with your assessment specially keeping an eye on the assumptions that impact the valuation.
On the engineering perspective - Fischer–Tropsch process has been around for ages. Its what was used by in WWII to make jet fuel out of coal . Its a process of making synthetic fuel from a feedstock.
The use of waste as a feedstock is the "new " bit. There was no reason in the past to look at waste as a feedstock as the world was not awake to the climate impact.
Note there are large scale plants that use Fischer Tropsch - look at the investments made by the oil majors in GTL ( gas to liquids) which used Natural gas as feedstock to convert to synthetic fuel.
The key here is the Green element - using waste (rather than it going to landfill and creating methane) using it as a feedstock , convert into fuel and thereby capture the carbon before it goes into CO2. For awareness Methane has ~20 times the greenhouse gas impact than CO2.
Feel free to type Fischer–Tropsch process, Synthetic fuel commercialization into Wikipedia. If you type Waste to Fuel and BP into google you will see the investments BP is making.
Not an expert but I think it is
18.95 200,000 JBER 08:39
Price No of shares Broker time stamp
So higher price and more shares mean it is going up is how I have interpreted it
No it does not instil confidence ...some of the information also does not tie up for me. So would be useful to see what others think.
Finished last year 2018-19 with profits 566m, up from 525 with direction of mid to high single digit. So if we extrapolate that’s 2019-20 of 610m. H1 was reported at 265m which means H2 is expected at 345m, which is about 57.5m a month.
China was hit by Corona in the end of Jan and Europe by Feb end, just seems like around 50m seems light as a guidance.
With clean air being almost 65% of the group, which is intimately tied to the automotive sector. I fear for the outlook.
In H1 they talked about substantial capex for 2019-20 of up to 500m. That’s like a years profit in investment, with substantial amount of that related to the automotive sector. With The corona crisis not sure these investments with give great return.
The worrying thing is the debt and hence the interest charges, finance charges for 2017 -18 was (39m) and then up to (43) in 18-19 but if you look at the mid year numbers they go up (16) to (20) to (36) for 2019/20 so I expect the finance charges to be over (50) for this year.
Hence the question is there any reason to hold on or should I liquidate.
For the record - I still have holding in JMAT but did liquidate a substantial portion In 2019 post the H1 results.