Gamesinvestor1
18 Oct 2019
Doubled up! In for a penny… Games
Gamesinvestor1
07 Oct 2019
2874 -- today 3.59% drop lawd - Agree with your assessment and notes here. It is a double edged sword in that they are constantly balancing sentiment (negative in most respects) towards their dependence on ICE technology and the constant worry that CAT technology should ultimately not be needed, with the hope that eLNO will fill the gap in the future. eLNO is just one approach, with fuel cells in the background, and many other research outfits working on battery technology and materials science. What’s interesting though is these companies seem to have a battle to get infratructure in place to support wider role out of either or both battery or fuel cells - it is still happening at a snails pace. It seems to me at the 28XX-to 30XX level that this is all in the price and the return at a well covered now 3.1% yield is worth having. It still remains a small % of my portfolio though. Games
lawdoc
05 Oct 2019
2874 -- today 3.59% drop Gamesinvestor1: Games - looking cheaper by the minute now 2872 as I type - perhaps I’ll buy back in before the end of the day. I dipped my toe in yesterday at £28.00. I think the market is wary for two reasons: JMAT tells the market it anticipates performance to more ‘heavily weighted to the second half’. This means the first half is underwhelming and it needs a big uplift in the second half to achieve the results that it told the market it would. It may not resulting in a profit warning, or further decline in SP. The market is also unhappy with its progress in the new markets division. Operating profit plunged to just 2M from 17M in the previous year resulting in doubts on its potential. Nevertheless, There seems to be a big opportunity here. I think they have done their homework and believe they can sustain revenues in the medium term. Meanwhile a 3% dividend. Moreover, there is also a chance of M&A activity, being bought by a competitor or car manufacturer. I’m happy with my purchase and shall add to it as progress becomes clearer. GLA
Gamesinvestor1
02 Oct 2019
2874 -- today 3.59% drop Time to reenter Ripley? I see that they have now secured site and supply for Poland and they are aiming for 2021-23 for production and delivery. Is this eLNO a game changer. Some 21 Million cars will be electric in a few years, but even that is a drop in the ocean when you consider there are around 1.3Bn cars on the planet. If as eLNO states it is faster to charge, offers better distance and allows more recharges per lifetime it has a place, no? I wonder how the business model stacks up with the price they obtain per battery compared to the euivalent loss of a catalytic converter – that’s assuming we have a simple crossover in demand for one and decline for the other. Games - looking cheaper by the minute now 2872 as I type - perhaps I’ll buy back in before the end of the day.
Ripley94
26 Jul 2019
Heavy Duty vehicles JMAT… XXXX ATLANTIC … Had this as a buy Wednesday 24th July @ 3159p . 3193p by the Friday . Its just momentum with these chart types . Only post i see here is i sold 14th April 2016. I have just seen i bought back at same price 2900p a year later 19th April 2017 . I notice a day after this post from games .
Gamesinvestor1
17 Jul 2019
Good time to retire [link] ““The company, which earns the lion’s share of its earnings from Clean Air, said John Walker would retire after 35 years with the company and would be replaced by Joan Braca, currently president of Tate & Lyle’s <TATE.L> food and beverage solutions.â€â€ I assume Joan is going to add some sweetener to the DPF to make them sell better and maybe make it a fashion item. Games
Gamesinvestor1
13 Dec 2018
Cummins [link] “â€â€œCummins has acquired Johnson Matthey’s UK automotive battery systems business As part of the acquisition, Cummins and Johnson Matthey also agree to collaborate on the development of high energy battery materials for commercial heavy duty applicationsâ€"" I guess this was either a strategic move or a tacit acceptance that JMAT isn’t going to win in this business as a complete battery supplier in the vehicle space, and is best suited as a materials supplier, at least for adopters of eLNO technology. Given that JMAT has been a component supplier in the CAT space, one would assume that a significant value add was in supplying the whole CAT unit and not just the internal materials for other producers. Does this mean that, if and when JMAT’s business is dominated by battery materials and not the current clean air CAT business, it’s going to be a much lower margin concern? Not sure this will get any response from anyone on here, but I’ve typed it anyhow! Games
Gamesinvestor1
06 Dec 2018
27xx today Well - it’s all the way back down there. However, the results on car sales, not just in the UK, are probably putting a dampner on it for some time, rather than just the CAT - Electric arguments. Well that’s my guess anyhow. Anyone else have a view? Games
Gamesinvestor1
22 Nov 2018
Anybody out there? Just wondering if there is anybody still invested in JMAT that visits this discussion board. Don’t seem to have any responses to my posts, however crass they may be in content. I sold out again yesterday – I’m not a dealer as such but I think the market got carried away with the results and drove the share price up by 13%. The more I read them though the more it had me thinking about the impact of the investments and the fact they are unlikley to yield much for quite some time and could be a drag on the results next time round. There is also the Volvo issue - if there is one for JMAT of course. Anyhow and whatever, it seemed liked a decent move as the share price is down almost 6% today. 27XX I’d buy back - happy days. Games
Gamesinvestor1
21 Nov 2018
Results sorry wrong board
Gamesinvestor1
21 Nov 2018
Results [file:///C:/Users/larryr123/Downloads/Full%20Year%202018%20summary.pdf](file:///C:/Users/larryr123/Downloads/Full%20Year%202018%20summary.pdf) FY18 organic revenue growth of 6.8% (6.6% including asset held for sale) and organic operating margin of 27.8% achieved (27.2% including asset held for sale1); • Improvement in H2 18 performance with renewed focus on high-quality subscription and recurring revenue, driving accelerated momentum into FY19, with issues identified in H1 18 addressed; • Building on this momentum, Sage Business Cloud ARR is now £434m, growing at 51%; • In FY19 the business will continue to sharpen its focus on accelerating the transition to Software-as-a-Service (SaaS) with key operational priorities identified to do so. Stock hit again - results seem reasonable. Games
Gamesinvestor1
21 Nov 2018
JMAT 1/2 Year Looks pretty respectible. No mntion of a Volvo issue as yet - if there is one of course. Despite my recent -ve view on JMAT I decided at 27XX it was cheaper than it should be and bought, then luckily doubled up yesterday. Not sure of this as a long hold though - margins are so small, they simply have to sell so much to make so little and if the sales drop at some juncture - ouch it could be tough. [link] Games
Gamesinvestor1
23 Oct 2018
Volvo issue This Volvo announcement seems to have spooked JMAT shareholders. Well that and the general market sell off of course. I wonder how low JMAT can go? Given they have some 60% share of the heavy trucking industry and heavily exposed to the US market it’s either going to be a very big bill, or alternatively the share price could shoot back up if it turns out to be a competitors product. If the rate of corrosion in the CAT is as severe as suggested by Volvo it would make JMAT look pretty bad considering how long they have had to perfect the materials on the products with such a long standing history. Then there is still the question of whether JMAT is backing the wrong horse on battery technology for future (which seems to have arrived already) transport. Anyone any views or information regarding this topic, or anything to highlight the current strengths of JMAT in the battery division or other divisions? Games
Gamesinvestor1
16 Oct 2018
No so quiet on the stock price front I guess my last post might have had an element of truth in it. Something is wrong here and I can’t as yet see anything in the news. the FT - bless their EU socks, have this down as 4000 to 4500 It’s just hit 2954 falling 4.56% this morning on no visible announcement - and it’s been falling for days. Anyone expecting a horror announcement? Games
Gamesinvestor1
12 Oct 2018
All quiet on the JMAT Front I guess there’s not been much to talk about. Except the share price has fallen back from a pretty hefty height of late - partly due to the correction, but partly I guess that the sentiment toward the battery euphoria was - well euphoria. In the meantime there are some interesting and maybe worrying signs on the financial side, particularly given they haven’t sold much more on the battery side (I stand corrected if that has changed). Having tossed out a big division a year or two back, you’d think the debt (borrowings) would have come down a lot, no? – Well it seems to have gone up - 2016 was £635M against a post tax profit of £325M - ratio of 1.95X – pretty reasonable number don’t you think? In 2018 the borrowings jumped to £951M and yet the post tax profit had fallen to £298M – the ratio is now 3.2X - still okish but the worrying thing is that JMAT appears to have been running to stand still or go backward. The post tax profit on 2016 was against a revenue of £10.7Bn and in 2018 it was £14.12Bn – That’s a massive fall in margins. Not hard to see why though, the return on capital employed has fallen from 21.58% back in 2014 to 12.16% in 2018 - that’s almost halved. I’d be very careful about investing in this puppy, particularly if diesel continues to fall off a cliff (it’s declining in all passenger vehicles in the UK - the rest of the world I guess will follow suit) and if JMAT don’t really win much in automotive on the battery side. Games
