Member Info for sj74

Noooope. Another fabrication to try and allow the short term to get out as soon aspo

OSG, it's the same with ASOS. Large % or shares accounted for yet MA was able to pick up c25% of the company with barely able to move the SP dial.

This will change here once the underlying figures start coming through in the trading statements ex ingenuity imo.

Steve is a typical PI, looks at the minute by minute SP performance hence the stress.. or it's a bot just trying to cause mayhem but the majority of people can see through it.. there is one on every board lol

Ahh well nevermind eh. No need to fret.

I'd suggest maybe this isn't for you Steve.. way too emotional. Atb

Dear me SteveScott you do an awful lot of panicking. Relax man.

Hardwell, I agree and having the CEO of THG there, taking part and leading by example isn't to be sniffed at either imo.

Alot of Brad Pitts on this board 🤣

Fair play to the guy, great shape!

It will be a remarkable 2025, as it should be THGs first year as a profitable company :)

That guy has about as much credibility as Cityspy did, clueless Muppets.. best ignored.

Yes, even so it illustrates the potential from the current SP.

Hang on, I've fooked that up and not taken away any of the CAPEX etc.. probably need to take away £40 million or so.

Feel free to critique but this is based on the last RNS and assuming NO growth in either division for FY25.

THG Beauty

£1.108 billion revenue @6% EBITDA margin= £66,480,000

THG Nutrition

£579.6 Million revenue @ 10% EBITDA margin=£57,960,000

Total= £124,440,000 EBITDA

Divide by total number of shares= 9.427 pence EPS

PE ratio of 10.6 = £1 SP

PE ratio of 15= £1.50SP

PE ratio of 21.2 = £2 SP

If we say Nutrition flakes and goes at 6% EBITDA margin again this gives £34,776,000 EBITDA for nutrition.

Total group EBITDA £101,256,000

This now gives 7.67 pence EPS.

PE ratio would now be 13 gives SP of £1

PE of 20 gives SP of £1.50.

This is all entirely reasonable to me such will be the level of FCF. If they do manage mid single digit revenue revenue growth and Nutrition EBITDA margins back to 12% then who knows where this could go as that blows the above out of the water imo.

Sorry, but unless there is a link to any 'apparent rumour' it's a load of crap made up by desperate traders. Ignore.

I mean EPS will be roughly 5-6p being conservative and the SP is 36p. It's laughable 😂😂

The valuation of this company is disgraceful and something doesn't add up. It's not APN imo either.

Maybe the market doesn't believe THG can deliver all this FCF.. it would have to be a monumental fook up to not deliver when the CAPEX is c£20 million..

There will come a point when the markets will twig that this is profitable now.

MM mentioned they don't need as much cash on the balance sheet anymore, such is the FCF and low CAPEX, so clearly not needing money..

I'm more confident in this company now starting to deliver than I have been since IPO.. the SP tells a different story atm.

🤣🤣

Yes.. see what happens this year, I think they have to have some time post demerger. If we get stagnant to mid single digit revenue on top of the really low CAPEX I really don't see how this won't rerate.. it has to.. the businesses are valued so cheap, I think there is just a lot of churn in the market. I think they will execute their strategy and the markets are becoming more of a tailwind this year. Just my thoughts though.

They aren't great but the SP is already heavily discounted based on what will be this year's FCF. The disparity is massive. Unless I'm missing something EPS will be 5-6p this year at least.

Why is that realistic, can you show us how you have come to that figure? I'm guessing you can't.

This is a highly cash generative' business. Once this starts posting positive underlying figures (EPS) even at stagnant growth this will rerate. The PE here is ridiculous.