Member Info for martinu

Yes. The prompt posting of the results caught me out (was Aug last year). Losses reduced on much lower revenue but increased gross profit margin. Debt seems to have gone up and interest payments were over £1m. Order book given as per 31st March, would have liked a more up to date figure. Still some kits going to S Africa and 15 buses to Australia.

Prev75 - correction to dates; should be end of year March 2014 and FY 13/14.

Prev75 - it takes a lot to shift the SP, in my view. Optare themselves are not great at putting out info, though if they do get a largish order, they will put out RNS. Since I've been holding (March 2012), they seem to have relied on orders from small, independent bus operators. With common orders for 6 to 12 buses. When the big operators (Stagecoach, Arriva, First, etc) place orders, then tend to get a token number. There has been the occasional good export order, notably S Africa, but that market has gone quiet. They have launched a sales drive in Australia, which has from memory so far, gained orders for 45 buses (since late 2013). In addition, they have recently expanded their product range: MetroDecker (launched May, hoping for sales late 2013/ early 2014; aimed at London and other large cities: MetroCity (again aimed at London, with first good order of 12 from Epsom Coaches); and their not so recent electric bus, which has done well in York and Notts, with a handful of exports. The SP sometimes moves in anticipation of results and the end of year March 2013 ones should be out July/ Aug (was Aug last year). Optare currently post a loss, which seems to be reducing, but could be around £3.5m for FY 2012/13. The gross profit margin has improved to 10% from 5% and cost have been cut, but debt has increased (again from memory £23m). The company often say that better performance is around the corner, but that corner seems very elusive. However, with their increased product range and hoped for increase in exports, I feel their IS someone chance of improved results. BUT, if this does not materialise in the next 18 months, then I don't see what else they can do. Please don't take this as advice and do your own research. Other posters feel free to correct me and add anything important I have left out. PS: I also post regularly on ADVFN and would suggest you register there as well for holders views.

This is another bit of good publicity about the recently delivered 12 MetroCities and 4 Solos taken from EC website. "David Cheeseman, Sales Manager for Optare and Steve Whiteway, Managing Director of Epsom Caches Group, shake hands on completion of a deal to supply 12 new Optare Metrocity buses, for TfL Route S1. These state of the art buses, have some of the first Euro 6 engines in the UK and are specially designed for London. In addition, four Optare Solo buses have been delivered to service the local bus network and the Epsom and Helier NHS Trust staff shuttle, which has been operated by Epsom Coaches for many years. Steve Whiteway stated, “it has been a busy time with not only these 16 buses entering the fleet, but a further 5 new double decker about to go in service as well. The Optare product features heavily in our fleet make up, it is good to support a British manufacturer, with a stylish and practical design which is proving to be very popular with our staff and customers alike”.

More publicity in RouteOne mag today. Giving further coverage about EVs in Notts and York. The more sites that carry the message, the better. More operators will notice and hopefully take interest. (PS Haven't yet read articles, so hope positive!) PPS - Tefrum. Re orders/ sales in Aus. Only know 15 deliveries in total from late last calendar year to May, so over a period of time not one month.

If your question is about SMMT figures, they are UK regs only. All we know re: Aus, is that since Optare began targeting exports there (late last year), there have been orders for 45 (of which 15 delivered).

Agreed, v. disappointing figures for May regs. However, May usually results in a dip (each of the last 4 years). And, as always the good news is promised for the future. There are some positives, eg the 45 orders in Aus, the (v. late delivered) MetroCities to Quality line, the EVs in London and the launch of the MetroDecker. Dont give up yet.

deliveries on official site. Order from new customer in Costwolds (7) and delivery in Western Isles (5).

Published in August, so don't hold your breath. Of course, with a new CEO and CFO, things could change.

Big volume today. Would be interested to know if all trades were as recorded here.. The last one "after hours" is not labelled sell or buy as in mid range of bid ask.

A buy of 4m this morning. Not enormous in value terms (c. £8k) but big for Ope.

It has now been posted. Not before time.

Check it out on advfn. Link to article in Telegraph.

Allex - sorry, no insight. But MMs could be trying to keep potential punters interested. If the new DD and export orders suddenly do well, then this share could re-rate a little. But given past performance, this isn't very likely. However, as a holder, I hOPE the share does improve. Full year results, which usually take an age to come out will probably show reduced loss. Taking the two aspects together, the CEO might get a more credible positive spin than usual.

Thanks, Steve.

Steve, thanks. Although that gives the available products, I was trying to delve into what the product mix of actual sales might be. Which, I understand would be a difficult question to answer (in detail). On my previous comment re DDs and whether operators were moving from singles to DDs, the SMMT figs by bus weight dont seem to bear this out. The bus size that is doing the best recently is the 12t-16t and >16t, both up 8% on year to date. DDs down 23%.

... bigger buses? In the past, I believe that Optare sales have been almost exclusively in the 8.5t-12t range (Steve, please correct if wrong). This month, the total reg for 8.5t-12t was 24 units. Now the figures dont break these units down by company, but as Optare reg 32 units in Apr, then if all 24 units in above range were Optare's. Then Optare could have sold 8 units in the 12t - 16t range. Hopefully these are more expensive and might have slightly bigger profit margin. (Ever the optimist).

Allex, thanks for posting these. Haven't had a chance to look at how other manufacturers have done this month. So taking Optare in isolation. The figures for March were poor, esp as coincided with 14 plate. In fact, coincidentally they were 14. Hoping for the best for Apr, I thought possibly Optare may have let March reg slip into Apr to give a good start to financial year, for new(ish) CEO. As it turns out, 32 units is not much better than the ave for calendar year 2012, which itself was our best calendar year for a while. (In units terms). For the last 4 calendar years the Mar/ Apr units have been: 14/32; 43/32; 47,41; and 19/28 (most recent first). Steve. Although market for DDs may be at a low ebb, I thought I read somewhere that operators were switching out of singles to DDs. I think the company really is at a crossroads. If DD and export expectations are fulfilled, may be Optare can push on. If these expectations are not met, then the business may chug along, perhaps reducing losses, but with no great progress. Recent history suggests the latter, but I live in hOPE. Any ideas/ rumours why MetroCities to Quality Line were so delayed. Not yet delivered as far as public info is concerned?

... taken from Australia Bus and Coach. February deliveries pick-up from previous month as the year progresses Sales have increased as 2014 progresses with a total of 116 buses delivered in February compared to 106 in January. BCI and Volvo topped the list with 34 deliveries each while new-comer Optare delivered two buses for the month. Or may be not.

On a light-hearted note, there is an I/V with Sr. Enrico in today's route one mag. Guess what? He is Italian, likes football and F1. One interesting answer: to the question what should the govt do. Enrico says, "Support the local bus manufacturer to be competitive outside the UK". So no export orders then??