Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Good its been rejected and I hope if the founders are still involved they are as obstinate as Matt Moaning and say #nothanks #mattmoaning #valuedestroyer# weareadore
Lol
@Yorek, spin offs or partnerships I believe with recover some of the value destruction seen. I’m not convinced that separate US listings are the answer as a full or partial sale to a trade player should yield a greater valuation, operational synergies and access to a much deeper set of capabilities and mgmt.
I would like to see:
1.nutrition sold as not sure THG can get the exponential growth itself but sell it with a 5-10 yr Ingenuity deal
2. Sell Ingenuity as MBO with SWF, PE or trade backer but with Beauty signing up to a 5-10 yr deal like nutrition
3. Keep beauty listed for another 12-24 mths until fully recovered and then sell
GLA
Maybe he bought one for the ICON reception..lol
Joking aside, I do hope he was in Vegas networking as would have been a great opportunity, even though he does not like to travel.
@Hardwell, perhaps check the sizes of tubs before you order. For example, the Boots Vimto is 10 servings for £10 and MyPro site tub is £18.45 for 20 servings so cheaper per serving. As Matt Moaning said for bricks and mortar retail they tend to have a differentiated offer to website.
There is no short term solution….its a 2-3 yr fix minimum as per LSE chiefs even if pension fund solution worked. Even Big Mac told MM not to hold his breath.
Matt Moaning will make his compromises in due course and he is feeling pain (you just have to look at Moulding Foundation accounts)…he has no option otherwise Captain Willard will pay a visit and for all his moaning he is still rationale.
Thirwell and Harris have some class and dignity, but MM will get their in the end with his wings clipped.
Is Big Mac telling him to pipe down and suck it up?😂
Hotel Choc seems a deal of compromises - all for the good of the company and shareholders hence a win/win
- Co-founders own c54% of shares but plan to roll 30% in a 5yr restrictive lock up agreement
- language from Mars implies mgmt to remain in situ but access to Mars depth of markets, operational leverage
- founders conceded that they don’t have the balance sheet to finance growth and hence need Mars’ backing
Personally, I think MM wants a deal/“partnership” like this as pure equity deal and low risk of dilution down the road
Based upon these multiples Nutrition could be worth 145p a share to 185p depending if you take 2023 forecast outturn or current 12-15% EBITDA margin
Difference with THG is that it comprises of 3 distinct businesses and not 1. Hence, at some stage soon MM will need to decide where he wants to spend his time as otherwise all 3 being held back if credible trade buyers in wings to invest for growth
Our day will come soon enough!
I guess partnership with Starbucks too late? Unless Kong has been working undercover from Icon these past few months..:shame Monster drink already exists but could be KafeKong…make mine a SuperKong to go!
Could be KongKaffeine..
Great idea…. I thought Minnow Matt drank 10 shots a day..and did not come up with combo…good job Kong is now at the wheel…lol
@maxmatmax…???? Really. Maybe visit the ADVFN board
Great little business that recovered very quickly post pandemic. PBT margin over 18.5%! Wonder how much THG own brand products make as per Moulding D2C should be higher than bricks and mortar. Obviously the third party reseller margins seems to be wafer thin for THG/loss making.
Now when you look at W7L market cap of c£250m this is why Nutrition needs to be spun out. Assuming normalised PBT of say 12% (EBITDA 15%+) even a very conservative valuation gets you £1.5bn/115p per share before all the tremendous growth opportunities…..just makes no rationale sense and Moulding/Shareholder structure defo a factor holding it back until eventual separation/partnership/relisting
Enjoy the weekend all!
@Manc39, that would have been the sensible thing…but he seems to have lost the plot….I still like the underlying business and value will be outted…but he needs to have his wings clipped by the independent Board members once and or all ….or have the conflict removed and parachute in a seasoned operational C suite team into CEO and succession planning at Nutrition and Beauty in the event of a separate listing or partnership as current heads will not be heavyweight enough in a standalone environment
SFM has been liking positive comments but like Inaction Relations doesn't address ones which are not so positive. Sums up his relationship with the City....loved it when it helped trigger the LTIP but hated it when it came to being accountable to meet guidance....I used to be very supportive but that has waned since Jan 23 given the late stage dictator traits/rants
Of more concern is Lord Allen's objective of talent and succession planning objective does not be seem to have been progressed (it was mentioned alongside his quote to update all shoulders on strategy which never materialised). SFM seems to churn internal mgrs regularly and Vivek is the only external hire, as Sanders was a non exec who led both the Governance workstreams and separation work....and certainly has not been investing to bring his c£3.75 average down on less than £80k of shares at cost...
Other than Vivek at Ingenuity, I don't see investors being wildly enthused to back Beauty and Nutrition heads if they go down separate listings route unless some more seasoned operational/listed background execs bought in above them as
part of the process....SFM does not let them even speak on investor calls.
Potential News headline tomorrow.
THG plc has hired BigMe the well known gorilla to supercharge the fortunes of THG plc, after losing over 90% in value since the IPO 3 years ago and a melt down in Adjusted EBITDA.
BigMe commented that it was an exciting and lucrative time to be joining THG given all the self inflicted mishaps since a CMD in Oct 2021 and expects the recovery to be completed by 31 Dec 2024. A bonus equivalent to his weight in gold is to be paid assuming FCF is greater than £5m and EBITDA of £130m achieved.
@CheshireLad, all very reasonable points. Next thing we will hear is his 360 degree driveway complete with water fountain and globe saying “the world is mine”…lol….
Lets get as many likes for Jamie’s post and subsequent comments…at least he may then stop posting this “I am the King of the North” rhetoric…he needs a dose of humility for Xmas
@STE2000, I can only presume that he was crying into his triple shot and to deflect the fact that even M&S is smashing it now but he is still firing blanks…lol..GLA LTHs and enjoy the rest of the week!
“ The message is clear - not only do we stand our ground at THG, but we're a force to be reckoned with.....” sounds like Colonel Kurtz - Marlon Brando in Apocalypse Now…lol
Well after 2 yrs of abject failures and finally exceeding results from what is a very low base given so much friendly fire on Matt Moaning’s part helping trash the SP, he still spouts some nonsense as no real new backers for 18 mths and real time…
Will his next post be the background music in the THG reception is “Hotel California” as a subliminal message to THG LTHs and locked in employees..”.you can check out anytime but you can never leave”…lol
Surprised he never put a statue of himself as the self proclaimed King of the North….lol
I’ve stopped reading into his LI’s any more and just wait consistent beats of results…rather than all his self adulation.
For those who watch the programme Billions (or in Matt Moaning’s case Millions) I wonder if the have a Wendy Rhodes equivalent…lol