Member Info for JamesLast

Massive revaluation coming. They bought companies for more than 1bln since 2020 with equity issuance. Just reread the annual statements. If the value in these companies is still there which MM proves with this small sale then a larger sell will skyrocket the SP. 🍿

Yes Stan I see but then again if the company delivers on earnings and further debt reduction that problem will solve itself. New buyers will emerge. Probably we need just 1 strategic buyer building a 5 to 10% stake to lift the SP much higher since total free float is low. Maybe MA expanding its stake will do the job as well. But we need higher earning, positive cashflow and pricing power on the brands.

Latest actions are indeed promising. But we need growing earnings to let the SP rise to higher levels not falling earnings. And yesterday showed (again) lower earnings expectations for '25 and '26. If there is no pricing power because the brand is not strong enough then hard times continue. Whey prices continue to be elevated simply because there is a lot of demand for protein wordwide. Giving away the margin to expand revenue might work but it might also just not.

How many shares do you hold Stan? You must be in love with this company.

I hold a few around 33 avg, you?

Great update from MM. He shows strength and addresses the problems in the UK Financial system. Fantastic news.

I told you guys yesterday. This will revalue rapidly. You're welcome.

This stock will revalue massively coming time. I said it first here. Mark my call pls.

Strategic partnership with THG mentioned a few times in latest Frasers update. Nice one.

Interestingly I saw some MP outfits at the tennis court recently. I was pretty amazed to see this clothing there. Their gels are at my gym as well. Must say the brand is all around us if you pay attention. A market cap of 475mln versus book value of the equity of 1.1bln is ridiculous. Normally this company should have a market cap of at least 2bln. When we get there debt can be paid off easily with a little equity issuance if needed. This would generate a fcf of around 150mln in 2027 with a market cap of 2bln. Still pretty cheap while revenues growing with 5 to 10% a year. This could easily be a five bagger in 12 to 24 months from now.

Just read Barclays research note and it's pretty weak on the valuation side. The 33p is not properly substantiated at all. They have the book value of the equity (finally) properly stated at 1.1bln. They see free cash flow to equity in '25 already at 52mln but do not heighten the revenue targets nor margins into future years in a proper way.

Barclays target to the upside for SP:

THG hitting margin targets within Beauty and Nutrition, which pushes the valuation to c10x EV/EBITDA on a higher 2026E EBITDA scenario.

So much room for way higher SP in '25 and '26 for Barclays analyst as well.

Growth is back in a growth firm. Offline sales in nutrition is already impressive. Imagine where this can go to in 2 to 3 years time. This is very positive imo.

As anticipated, trading in the second quarter has been much improved across both Beauty and Nutrition, with the Group returning to CCY revenue growth, underpinned by a strong June exit rate supporting unchanged FY 2025 guidance.

Should support SP today

The chart shows this could explode higher coming weeks. Maybe tomorrow will kick things off. Wait and see.

(Bloomberg) -- Norges Bank Investment Management disclosed its votes for THG Plc's June 25, 2025 annual meeting on their website.

Backing 20 of 20 Management Proposals

Holds 0.2% of the company as of March 24, 2025

See BI PROXY for more details on the meeting and proposals

The firm voted as follows:

Management Proposal 1 - Accept Financial Statements and Statutory Reports

Vote: For

Management Proposal 2 - Approve Remuneration Report

Vote: For

Management Proposal 3 - Elect Milyae Park as Director

Vote: For

Management Proposal 4 - Re-elect Lord Charles Allen as Director

Vote: For

Management Proposal 5 - Re-elect Sue Farr as Director

Vote: For

Management Proposal 6 - Re-elect Helen Jones as Director

Vote: For

Management Proposal 7 - Re-elect Gillian Kent as Director

Vote: For

Management Proposal 8 - Re-elect Edward Koopman as Director

Vote: For

Management Proposal 9 - Re-elect Dean Moore as Director

Vote: For

Management Proposal 10 - Re-elect Matthew Moulding as Director

Vote: For

Management Proposal 11 - Re-elect Damian Sanders as Director

Vote: For

Management Proposal 12 - Reappoint Ernst & Young LLP as Auditors

Vote: For

Management Proposal 13 - Authorise the Audit Committee to Fix Remuneration of Auditors

Vote: For

Management Proposal 14 - Authorise Issue of Equity

Vote: For

Management Proposal 15 - Authorise UK Political Donations and Expenditure

Vote: For

Management Proposal 16 - Authorise Issue of Equity without Pre-emptive Rights

Vote: For

Management Proposal 17 - Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or Other Capital Investment

Vote: For

Management Proposal 18 - Authorise Market Purchase of Ordinary Shares

Vote: For

Management Proposal 19 - Authorise Issue of Equity with and without Pre-emptive Rights Pursuant to the Convertible Loan Agreement to FIC ShareCo Limited

Vote: For

Management Proposal 20 - Authorise the Company to Call General Meeting with Two Weeks' Notice

Vote: For

MM makes it into The Times now. What a joker.

https://www.thetimes.com/business-money/companies/article/matt-moulding-in-social-media-row-over-thg-share-price-nxh3dg5j9

Snippet:

Moulding continued: “The scandal around your tenure was legendary. I’m used to criticisms, no doubt some is deserved given our poor share price performance. I’m good with taking it from most people. But puh-lease… For you to criticise any CEO, let alone founders who’ve built global businesses from nothing, is beyond insulting.”

Formerly known as The Hut Group, THG has lost more than 90 per cent of its value since floating in 2020, dogged by disappointing results and rows over governance. Moulding has remained publicly combative in the face of investor concerns. He has previously compared the experience of leading a public company to Squid Game — the South Korean survival drama television series — and, more recently, posted a four-minute video likening his challenges to those faced by David Beckham and Robbie Williams.

You can buy it cheaper today yourself than MM did @32p. I don't see the problem there. He loaned it @ 0% to convert at a much higher price than where we are now. It made the lengthening of the debt position possible and reduced the total rate on this debt. Hopefully he's smart enough to tell at the AGM they want to reduce debt further and when possible start buying back shares. With these volumes nowadays even a small program can have major impact.

Quite funny that MM get's slaughtered on Linkedin today as he responds to criticism. The heat is definitely on him in a big way.

Https://businesscloud.co.uk/news/ex-ncc-ceo-and-thg-boss-moulding-in-war-of-words/

The war of words :)

Interesting to see on IB there is only 10k shares available to short this stock. Before last week this averaged around 5mln shares. Maybe has something to do with getting kicked out of the FTSE 250. Not a bad thing then.