Member Info for Ste2000

what spooked the market was why no due diligence was allowed for both parties to make a higher offer....the fear is what is hidden under the bonnet

what offer would they even make? - the SP is 74p
X2 = 150p (less than the offer made 4 weeks back)

cant wait for another 2 months and 2 days of no update and share price decline.......
170p.........

Bring freeze from the original post shared by another poster

And a hiring freeze is when you do not hire for new jobs, only for replacement jobs - which could be what’s on their website

Gosh you really are obnoxious - just say sorry for trying to mug me off
I don’t get your vile - I think k staff costs are too high vs sales growth and it’s an option to cut and improve ebitda

What’s your alternative king ramper - as the market needs companies to either show profit or preserve cash

Do one mate - the least you could do is apologize for having a pop at me for no reason

We re all allowed a view - at least I have the good Grace to share the facts

Show some humility and apologies for having a pop and not just defend yourself king ramper

So SP hopefully your maths is up to it, but it’s more than 50% increase in Salaries vs 38% increase in sales

I am not trying to ramp or deramp - I was merely observing that head count is high and staff costs in my view are too high - and this could offer a saving to increase ebitda and am pleased they have put a hiring freeze on

Administrative costs (net of adjusting items, depreciation and amortisation) as a percentage of revenue, increased by 216bps year on year driven by a continued investment in people to support acquisition integration and to expand the Ingenuity Commerce offering, alongside additional regulatory and compliance costs, resulting from being a publicly-listed company.

Operating loss has been arrived at after charging / (crediting):

2021 2020
Note £’000 £’000


Employee costs 260,892 171,368

SP Rey reading the FY report and go to a lady increase / and then also over heads - the increase is there

It’s not done in number of people you dim wit - how would that capture the fact some are paid more than others

Bruv....haha who actually uses that slang when writing. No fear, no brain/ education/ class more like

yeah I agree it could be a good use of cash to do a buy back. but at the same time, THG give out new shares for fun to their staff, so i m not sure if it would work?

they need to cut admin costs though - crazy crazy increase YonY, and not inline with sales growth

Thanks so much for the info share
Thg need to materially cut down their employee numbers- the increase yony was the biggest drag on bottom line and given automation is key to them, suggests it is coming from head office

All companies not making profit are cutting down on employee numbers and thg could defo look to reduce this cost down

Whey and forex are now a tail wind/ japenese currency still a small head wind

Ah apologises I see the point now- sorry on phone, I meant any resistance we had at 80p is now gone
I do believe management need to and owe us a q2 update as in their owns words they discussed the TO Wwith large II so they should share what they shared with us

Anacott - you should not give out advise bud- you were part of the ramping crew with that twit Kando. Saying to reject bids/ this was worth north of £3 etc

You mind yours and I ll mind mine/ but it is reasonable to ask for a q2 update and you need to stop ramping so hard and losing people money

If they do a q2 update in the next 10 days then could stop

Otherwise if we have to wait until sept, no nothing will stop the rot and could see 65p taken out

It’s shocking how little strategic update there is-

It defies logic - it was down less when the Nasdaq was down more
I think this share is gone now

And yes agree on bringing as much in-house : vertical to protect against costs as well
They also have a very strong vegan offering (my vegan) which obvs doesn’t use whey so hopefully they are pushing this and growing hard (it’s the protein I use)

Hey boom
You are correct buddy- cash neutral in 2023. My estimates are
2022:
ebitda 160m;
costs 360m (of which 100m fonance costs and rent / 200m capex/ 60m adjusted)- I think adjusted could come lower so would expect cash burn to be max 200 but hopefully closer to 150-160

2023:
Ebitda 200-250m
Costs: working cap neutral / capex 180m / finance and rent 120m
Cash burn 50-100m

Either way with cash of 530m plus 170 RCF, cash is good and no need for raises

Myprotein already has a vegan range. Looking at their cash burn (200m p/a), I pray they don’t buy anymore companies for a while.
Need to make the ones they bought over the last 18 months work hard and drive organic growth

Nice spot 1pencil, that whey forward sounds awesome and is another example of great innovation from my protein helped by being vertically integrated and owing the manufacturing

https://www.telegraph.co.uk/business/2022/07/10/45bn-software-giant-atlassian-quits-uk-fresh-blow-londons-tech/

At this rate, the ftse will soon just be Lloyd’s and a few miners…..
Serves them right- looking forward to the day THG gets revenge on all the A holes in the city who constantly ahort/ manipulate/ layer it’s shares, by popping off to the USA