The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
30th June 2023 £31.3m
Expected cash Dec 31st: £28m
July TU:
"Net cash of £31.3 million as at 30 June 2023 (H1 2022: £15.9 million)"
https://polaris.brighterir.com/public/hvivo/news/rns/story/rno86jw/export
Hallsworthy,
So you still fail to list any bull points, which I've asked the bulls to list.
Obviously you won't list any because I've easily countered them previously, here, on Trmr, Byot, rthm etc.
Just trader usual talk and sp manipulation...
the price moving upwards, which has happened lots of times in the past before falling back.
Readers can look at the graph and see the sp is around similar levels it was in Feb before falling back.
The CEO was awarded 7m options, which were backdated by a year and can be exercised in just over a year.
That is just 1 red flag.
There you go, I asked 1st for the bull points and not one bull point mentioned for it to be discussed.
I countered moniman's misleading post about the company 'finally...margins up from 15% to 20", which is clearly misleading as the company mentioned 19% 5 months ago. So according to the company newsflow, the margin increase is a fraction of what Moniman has been implying.
No bull points then.
BillB,
"you have to be about the worst de-ramper going. Every time you pop up HVO SP goes up. "
Funny, I had similar reaction when I posted the red flags on Trmr, Byot, Nano etc. All crashed.
Readers can see the evidence for themselves.
Trmr was around 850p, now 170p.
Byot was around 10p, now 0.7p
Nano was around 70p, now 17p
etc
The company themselves stating the red flags which I pre-warned about.
My posts are there for all to see.
https://www.lse.co.uk/profiles/stt1/?page=10
Anyway, feel free to load up at 23p and hold for 2 years.
"That's about a confusing as the carp you keep putting on here"
It's from the company's own TU. Are you saying the company post carp????
Really??
You are clearly misleading readers by suggesting otherwise.
Your comment, which goes against what the company has already stated:
" finally Hvivo stating margin growth from circa 15% to 20%, this just shows how much leverage Hvivo has got and increasing cost efficiency within the business"
My reply:
Really!!! That's not true and it's misleading.
They announced margins of 19% months ago in July's TU, so the 20% is a small improvement.
From the company's July TU
"EBITDA margin c.19% (H1 2022: 12.7%)"
https://polaris.brighterir.com/public/hvivo/news/rns/story/rno86jw/export
Proving you are talking rubbish.
Moniman
"I believe the upcoming move to new world class Canary Wharf facilities will finally be the big turning point for this business. "
Really? Why? Banks are moving out of Canary Wharf, so landlords are desperate to fill the spaces. Nothing more than that.
HVO have a questionable business model, whichever way you look at it.
Just because you were buying at significantly higher prices and desperately need PIs to buy in so you and your mates can sell doesn't change the facts.
Moniman,
" finally Hvivo stating margin growth from circa 15% to 20%, this just shows how much leverage Hvivo has got and increasing cost efficiency within the business"
Really!!! That's not true and it's misleading.
They announced margins of 19% months ago in July's TU, so the 20% is a small improvement.
"EBITDA margin c.19% (H1 2022: 12.7%)"
https://polaris.brighterir.com/public/hvivo/news/rns/story/rno86jw/export
Geordie,
"Lack of revenue growth, I think all of 2024 revenue is booked already"
It obviously would be.
Because of the timescale to setup the projects, they always will say around 90-95% revenue already booked and visibility into the following year.
Look at previous rns, January 2023, so 11 months ago.
They said over 95% revenue booked for 2023 and visibility into 2024.
"Over 95% of 2023 revenue guidance contracted and visibility into 2024"
https://polaris.brighterir.com/public/hvivo/news/rns/story/w9j9mdx
"But my guess is its considerably higher than the current year !"
Again, that is said every year. Where have they significantly exceeded their revenue guidance for the year?
Last year they had revenues of £50.7m
In July they said revenue expectations for fy2023 were £53m:
"Based on the current guided timeline for approvals and hVIVO's contingency plans, the Company reaffirms its guidance of £53 million in revenue for 2023
Based on the current guided timeline for approvals and hVIVO's contingency plans, the Company reaffirms its guidance of £53 million in revenue for 2023
https://polaris.brighterir.com/public/hvivo/news/rns/story/rno86jw/export
Today they say it's slightly ahead of expectations, so maybe £54m.
"The Company is pleased to report that trading has continued to be strong across the Group, with revenue slightly ahead of previous market expectations."
https://polaris.brighterir.com/public/hvivo/news/rns/story/xj70qkx/export
Fy2022 £50.3m to fy2023 £53m
They supposed to be a fast growing company, so where's the significant revenue growth? Even allowing for excluding non-core.
Shandy,
"Just remember he said TLY is a better company - how is that going?"
TLY is a better company than HVO. Significantly better, so I've been adding to my holding there.
I made around 100% on EZJ, within a 4 month period. Shorted Housebuilders and then traded when majority were bullish. Lloyds, MKS to name but a few.
Posted red flags on Trmr when they were over 800p, now 170p
Posted red flags on Byot when they were around 10p, now 0.6p
Posted red flags on Rthm when they were 590p (new money), crashed to 100p
My posting history is all there for readers to see.
Geordie,
"the more attractive the SP becomes to private investors and II's"
Maybe. There's no evidence of significant buying by IIs since July, despite what people have been saying.
The red flags for me remain.
Huge options for the CEO but none for the other directors.
Those options due for exercise in just over a year.
Obviously as those huge options are due to be exercised in just over a year, the company will be talked up.
Huge Shares on Loan
Lack of revenue growth.
Questionable business model.
Hallsworthy,
TLY v HVO.
Liberum have a 29p target price, so potentially only a 30% upside.
TLY 4.9p
TLY definately better upside than HVO. I'd say the upside in TLY is more than triple that of HVO.
There's evidence of IIs increasing their TLY holdings.
Do some research.
Read the company/sector newflow.
You have to be naive to base your research solely on brokers. Both Cavendish and Liberum are company brokers.
It is their duty to promote the company.
According to Liberum, HVO target price is 29p. They previously had a tp of 27p, yet the sp has not reached that level in 2-3 years.
Geordie
"Cavendish analysts have set a target share price of 35p "
Cavendish used to be Finncap. They used to have a 44p target price before it was dropped to 35p (ex DiM). Yet over the past 2-3years, the sp has never gone anywhere near that price.
Mijaed
"what's the big deal about a couple of million cost's must have been large"
The new facility was largely funded by customers.
The are supposedly been very busy, new projects etc.
They are now supposed to be receiving money from Polb as well.
You would expect cash to increase substantially. Yet it's decreasing.
If it's down to increased staffing costs before the new facility is live, then those costs will increase significantly once the new facility is up and running.
So it does matter.
Rivaldo,
"Forecast net cash at the end of this month is increased to £28.4m"
The company had net cash of £31.3m end of June.
The new facilities are largely being funded by customers. Where's the cash generation?