Member Info for ryanf

Roberto 😂😂😂

Market cap of £300m is so low. Easy £2bn company.

Funny timing, I saw a topshop pop up in John Lewis yesterday, great idea to keep costs down.

FallingKnife, I hope seeing your name here isn't a bad omen! I definitely feel like I'm catching it.

What needs to change to get this dog moving? Maybe the AI bubble bursting will help, perhaps AI won't solve all our problems and it can't replace every job out there. I suspect the AI bubble bursting will help S4.

Test, I have about £35m gaming duties and about £12m corporation tax making the £47m. What are you seeing and can you point me to the figures and page from the accounts?

They made £131m FCF from £313m adj EBITDA in 2024. Interest costs of £133m, tax £47m and capex £95m. Some positive non cash adjustments and working capital inflows bridge the gap to £131m FCF. Not sure how consistent those positive adjustments will continue in the future for the FCF.

How much will tax costs realistically increase to? £70m?

Adj EBITDA is expected to expand to £450m for 2027. Higher taxes will slow deleveraging but I can't see a wipeout of shareholder equity. Debt has been refinanced at reasonable rates given credit rating. Shows institutional confidence. The business is hugely cash generative and focusing on higher margins, despite the almost certain tax increase. Sentiment in the toilet and there's risk as debt is huge, but a massive re-rate on the cards if they pull it off.

Tyler and James:

THG plc is set to rejoin the FTSE 250 Index effective from the market open on 24 September 2025, as confirmed by FTSE Russell’s index review announcement.

Ocean Wilsons’ Deletion Despite Court Appeal

Although Ocean Wilsons’ court sanction for the takeover scheme has been postponed until late October, FTSE Russell has stated there isn’t enough notice to reverse the September changes. As a result, Ocean Wilsons will be removed from the FTSE 250 on 24 September as originally planned. If the scheme ultimately doesn’t complete according to the revised timetable, Ocean Wilsons would only be eligible for re-inclusion at a subsequent quarterly review.

Stanley, OSG probably bought at 33p and sold at 39.7p and now thinks he's sh.it hot.

Thanks for letting us know OSG, looking forward to your next pass through.

"I doubt you'll see 80p

But when they start breaking out then its normally worth the jumping onboard.

Just passing through of course."

80p is coming boys! 😂 Just passing through!

After net debt, the business is worth way more than £130m and the board are actively supporting shareholders by mentioning another dividend.

Just passing through

OSG has a fragile ego, lies that he was right when he was wrong, namely about Selkirk and Nutrition.

Doubt he even made a trade today, but has to tell the world he was right because well, fragile ego.

It serves our CEO very well if THG chases revenue for little profit through his very conflicted Ingenuity position.

To get out of the MM cage, the company needs to start making money and doing something with it, back down debt, dividends or share buybacks. As much hatred as im sure we all have for the board and Matt, money talks. £400m market cap means the bar is very low. We've already been told nutrition grew by 5%-7% in Q2 which should have higher margins than beauty.

Stan, this board is hardly active anymore, so think the shorts have had their time.

THG need to not give the shorters any ammunition. Simple cash generation is all that's required.

Again!

hippo, you're comparing different industries. you mention palantir who has benefited from ai boom and world events. they are effectively an ai play and a defence play. bab**** and rolls have done extremely well in recent years due to russia and middle east.

how about you compare thg to a competitor, estee lauder springs to mind. down 75% from 2022 highs.

unfortunately, world events have meant i chose the wrong industry for the time being, sounds like you did too.

Why buy THG over Amazon? Amazon is now supposedly worth $2.36 trillion with a PE of over 35.

Yes different kettle of fish but no reason for THG to start making £100m pre tax profit over the next few years, yet market cap is £460m. Imply current PE ratio of 4.5.

Yes operational mistakes and we have a terrible CEO, but the market is overlooking a decent company at these prices. It will rerate now demerger is complete. Nutrition is flying too, which has higher margins than Beauty.