Member Info for onsolidground

Tailwinds and Other Snippets

Whey prices – at a 7 year low and expected to go even lower still. (MM Linkedin post only last week)

Shipping Container prices now about $1800 per 40ft container as of 10th August.

Our detailed assessment for Thursday, 10 August 2023

• The composite index has increased by 1.7% to $1,790.60 this week, and has dropped by 72.2% when compared with the same week last year.

• The latest Drewry WCI composite index of $1,790.60 per 40-foot container is now 83% below the peak of $10,377 reached in September 2021…

A few more snippets of interest.

Mention of Mike Ashley

https://www.bloomberg.com/opinion/articles/2023-07-13/thg-group-could-be-a-catch-for-billionaire-mike-ashley

Sale of Icon HQ progressing. What will he do with the money!!

https://www.propertyweek.com/news/thg-ceo-moulding-to-sell-the-companys-250m-manchester-hq/5125868.article

“ and there’s so much more to come, as you’ll see over the coming months.”…Matt Mouldings words only today in a Linkedin post

Name me another company that has provided shareholders with this much information in the space of 7.5 months.

Hopefully it prevents a few being tricked out their shares by no adverse news share price drops like today. But it is entirely up to you as an individual.

Hopefully I myself get a chance to top up some more tomorrow with what will be a trading pot.

All imvho and backed by links but please dyor. Most if not all is out there in the public domain.

GL all.

550 ESPA Spas around the world, opened the largest Spa in the World in Qatar. Also

“"PB: Any exciting projects in the pipeline you can share with us?

MK: Yes! We are working on several exciting projects internationally; in Japan, with Spas featuring Onsen and beautiful sense of place, in Singapore, in Mexico we have a project situated along a stretch of the Caribbean coastline with cenote design elements in a beautiful location known for its ecological reserves. We also have projects throughout Europe including Spain and Italy which are both situated in historic and iconic buildings so it’s a very exciting time."

https://hoteldesigns.net/in-conversation-with/in-conversation-with-melanie-kershaw-of-espa-international/

Maybe add the Peninsula Hotel which is scheduled to open in London on 23rd September. Peninsula Hotels use ESPA and Espa Therapies.

https://www.peninsula.com/en/global-pages/wellness/page-content/three-tiles/exclusive-sleep-ceremony-by-espa

Creed with just $250m revenue got sold this week for $3.8 Billion. THG Beauty revenue in 2022 was £1.2 Billion!

2 new heavyweight BOD members with extraordinary experience

Negative Narrative seems to have disappeared.

Two Kelso Directors buy 500,000 shares each in Kelso (sole investment is THG)

https://www.lse.co.uk/rns/KLSO/directors-dealingspdmr-shareholding-ibxnwgwxgnjyp15.html

Exits the last of the lossmaking On Demand Divisions with the sale of Zaavi and Iwoot to Management for £3M and sells Probikekit to Frasers for £1 Million. Total £4Million.

Myvitamins launched into Wells stores across Portugal. (304 stores + akin to Boots)

Myprotein bars expanded into Kesko (K-Market) in Finland. Approx 1,200 grocery stores, run by some 1,000 independent K-retailers. Approx 50% of Finns living less than 1 km from a Kesko store.

Myprotein new Pre-Biotic Drink launched - SELFish

Myprotein launched on VitaminShoppe in the US. vitaminshoppe.com

Myprotein made available in retail stores in Spain and ,Portugal and Denmark.

"Some more exciting news as we exit Q1, a number of launches into retail across Portugal and Spain, and live in Denmark next week. A wide range of products, from Bars, Drinks and Clear Whey in over 220 stores. You can now find Myprotein in: El Corte Ingles, Continente, Costco Spain, Fotex (believed Foetex), Bilka, Salling Group, others” (Phil Ainscow Linkedin)

In UK, Myprotein available in Asda and Morrisons and Boots

Myprotein largest brand created in the UK in the last 20 years

Myprotein vending machines at gyms

Myprotein frozen meal vending machines in gyms a 1st. First in Wigan + now expanded rollout

MyProtein into Airports (and selling well)

https://www.linkedin.com/feed/update/urn:li:activity:7056521747822436352/?updateEntityUrn=urn%3Ali%3Afs_feedUpdate%3A%28V2%2Curn%3Ali%3Aactivity%3A7056521747822436352%29

Tie-up with Nutribullet in Italy

https://www.linkedin.com/posts/gian-rabellotti-568a29103_myprotein-nutribullet-activity-7044699407916625920-fA8A/?utm_source=share&utm_medium=member_desktop

Ingenuity partnership with PWC

Ingenuity x Symbiome

Ingenuity partnership with AND Digital

Ingenuity x BigCommerce

Ingenuinity x Elastic Path

Ingenuity x Age verification company Yoti

THG Studios x Overlap Set

THG Studios winning multiple awards

THG CIO Voted No1 in the UK

New York Autostore completed

New partnership with Iceland

Myprotein Frozen meals and Pizzas launched into iceland

Sold 1million plus frozen meals in just a few weeks. Targeted £30M revenue in first year off limited range was on track at end June with more products coming.

Myprotein Icecream launched June. Clear winner on all health metrics. Targeting £30M Revenue off limited range and staged release of products. Were on target end of June and prior to the Ice-cream launch and with more coming.

Myprotein Choc Ices and Lollies coming in September,

MyProtein Cereal, Cheese and Yogurts and more to come soon

These Myprotein items can be made available in other supermarkets and internationally. Watch this space.

Myprotein into 20,000+ convenience stores in Japan and Asia

Myprotein expansion into 2 of Germany's largest supermarkets, each equivalent size to Tesco.

https://www.linkedin.com/posts/mark-lees-a0498218_our-first-major-retailer-listings-in-europe-activity-7034152235286548480-c9GT

Myprotein into Valli Forecourts – 20 Service stations around Leeds

When we get these orchestrated dips, generally aimed at rinsing and repeating the same stock off PI's (though less so these days because of excellent comms), it is also handy to rinse and repeat a summary of all the information that has come to hand on THG over the last 7.5 months and which has been intensifying lately.

Thanks to an erudite post off SP28 who kindly summarised for all most developments this year it has made my job a lot easier by slightly tweaking it and simply supplementing it to provide a composite picture. It is supplemented throughout with only a few supplementary links or comments but please be advised that I have links for virtually all that is contained within this post. You can therefore decide for yourself if it is objective or not.

A very good trading up 2 months ago, way ahead of projections, massive multiple tailwinds in play

https://www.lse.co.uk/rns/THG/agm-trading-statement-3tiv1rcjrlybudy.html

Golden share relinquished 3 months early!

Recent large director buy, £500k from a very cautious director, John Gallimore.

MM sells property worth £250m releasing a huge cash pile, very surprising. Where and how will this cash be deployed?

MM goes to Dubai to meet investors, usually only conducts online meetings, rarely even goes to London! Florida next he stated.

MM posts about Eastern countries with huge capital to deploy

Apollo Bid. Valued THG Ingenuity alone at “significantly more” than the share price prior to the bid. That leaves THG Nutrition pre-expansion below and THG Beauty – each for free. 2 businesses that together account for more than £2 Billion in revenue.

Liberium went straight to 220p SOTP valuation

THG Sell Hangar Building at Manchester Airport £40Million

Kelso joins as Activist Investor. Maybe atleast 20+ Highly experienced, wealthy succesful businessmen, many Chairman or CEO's of other companies. They piled all their initial investment in THG. Most recent note...

https://www.investegate.co.uk/announcement/rns/kelso-group-holdings--klso/investment-in-thg-plc-update/7629620

Kelso point out inferior Nutritional company M&A is happening at 5-6x revenue multiples, THG Nutrition would be worth £3-3.5 Billion on the same revenue multiple. Currently valued at £0 (ZERO), Nil. Kevins Natural Food one such company and sold to Mars

“https://en.amwalalghad.com/mars-to-acquire-healthy-food-company-kevins-natural-foods/

Axiom Reports

“Last year the company had $140 million in sales, while in 2021 it had $100 million, in 2020 it had $45 million,”

So X 5.5 Revenue Multiple paid.

THG Nutrition = £675 Million revenue in 2022.

Ingenuity pick and pay global partnership with Autostore

Ingenuity partnership with GOAT India

Matalan Live on Ingenuity

Ingenuity 10 year partnership with allbeauty

Ingenuity 10 year partnership with Fragrance Direct

Qube probably getting desperate and given a helping hand, but even then its not having much success as people are actually aware to all that has been going on company wise.

Hasn't invigorated any great selling volume and if anything has probably prompted several buyers.

No adverse news that I can see and Kelso also sat static.

Or vice versa Novice82.

No adverse news and its just about probably where Apollo valued THG Ingenuity alone.

THG Nutrition + expansion and THG Beauty both presently you can have for free.

Last PE Bids 170p or more, Golden Share gone and good trading update in between.

Just added a few more to my monthlies.

Drd21 it was dropped from 32p to 25p and the most of that fall was all done through the spread and they ####ed the share price. Was a great top up opportunity.

Now, not unsurprisingly the same large spreads are being used to take it back up.

You don't put that sort of money in unless you are confident in the industry prospects and in your own business model. The industry seems to have defied the doomsters with constant bleats about cost of living with recording record revenues and excellent load factors and in many cases exceeding pre-pandemic levels. Can't be long before the market snd our Institutional day traders all start pointing the same way.

Https://www.lse.co.uk/rns/OTB/

A near 3 million share purchase off a Director over there and up nearly 13%.

Took a nice upward spike off our results last week also.

Just check they are still selling the same as ourselves.

They'd probably be best sticking to the Haven website rather than Rightmove then Manifesto. Filter binned.

Indeed Sp28,

Thats 1x Revenue on £1235 Million revenue which is what THG Beauty made in 2022.

2.5 x Revenue then its not hard to do the maths.

THG Nutriton a £675Million Revenue business in 2022, MASSIVE expansion this year into many European supermarkets and wellness chains, gyms, airports etc.

Mars buys Kevins Natural Foods on a circa 5.5 Revenue multiple.

Again do the maths

THG Ingenuity - Apollo we have been told bid "significantly more" for it alone than the prevailing share price prior to their bid (65p to 68p)

Massive valuation gap therefore between Sum of Parts and the todays Market Cap / Share price.

This isn't even marginal.

It is so glaringly obvious you don't even need a calculator to work it out.

Founded by none other than the Right Honourable Nadhim Zahawi, Conservative MP, who became Chancellor for only a a matter of weeks and was Conservative Party Chairman at one point.

Terrific vote of confidence (Not!!) in the Square Mile that one would be if it defects Stateside.

At this share price compared to a Sum of Parts several multiples of where we are and 2 Private Equity Bids we can't be far behind.

CityAM covering the story again.

https://www.cityam.com/the-markets-are-better-why-yougov-is-considering-ditching-london-for-new-york/

Americans eyeing assets

https://www.egi.co.uk/news/british-land-in-talks-with-realty-for-300m-sale/

What's the betting that the Tesco's Account Executive job ties in with the launch of Myprotein Cereals, Yoghurts and Cheese into Tesco stores (and other supermarkets).

But then again with MM you just never know what else he might have up his sleeve

Train Tracks they have already alluded in the Trading Update the way this was heading back then and fortunately for once through Linkedin in particular and with the help of Kelso updates and RNS people, predominantly PI's for once, can make informed decisions prior to Mid-Sept.

Sp28 - Thanks for posting up the CEO's linkedin comments. There is definitely something coming in the latter part of this year at MyProtein (that's if not taken over or MBO'd before then) for this is not the first time that he has made such reference for the latter part of this year. Mouldings specific words today..

"we're incredibly proud and grateful for everything that’s gone in to get us here and there’s so much more to come, as you’ll see over the coming months."

Good social media advert by the way