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Incitatus..you are spot on. He made a schoolboy error.
Great news today but very disappointed with the placing when we have 50m just sitting there doing nothing.We should be due a webcast soon.
So much for no more placings...... Cannot believe a word this Bod spew.... Just like the ANC start to assume the opposite of their statements and you will get a fairly accurate picture of future direction
Come on JLP, 2018 is your year. Don't lets see a repeat of last year - operationally a strong year but the share place remained as flat as a pancake. Let's get this party started!
I know that it is quiet foolish of us, but I am sure we will all be looking to see if there is a RNS on Monday morning, and even though we know it is too early for one, we will still be disappointed.
Part 2. Now of course the below is all super crude as it assumes no time value of money effect, that DPP can get from 50 to 150 stores with minimal third party capital i.e. cash flow break-even is round the corner and many of the new stores will be franchisee owned rather than corporate (which of course also changes the economics), that all stores are able to hit PLN 500K, etc, etc. However, there is also a scenario that DPP are eventually able to roll-out more than 150 stores. This is not that far-fetched given DOM UK has north of 850 stores in an area with a population less than double Poland's. Also Polish GDP has been rising and the take-out culture has been growing with it. Hence there are significant upside risks. Imagine LT DPP can get to 300 stores. Suddenly you have a company that even at 10x EBITDA is £300m i.e. 5 times today. Anyways, that's very roughly how I think about DPP and why I see it as a core LT hold...
Re: How do you analyse this stock? One back of the envelope method is to look at annual store EBITDA at maturity. In 2016 the most mature store had an annual EBITDA of PLN 536K i.e. roughly GBP100K. Assuming no further growth in store numbers and the whole estate hitting this target (nb: Peel Hunt, for example, are estimating PLN 500K as a sensible figure across the estate). You get to £5m. Apply a 10x EBITDA multiple and you have £50m i.e. a little south of the current valuation. But now imagine that DPP gets to their target number of 150 stores and apply not a 10x multiple but 15x, which is where DOM UK is still trading in its mature stage, de-rated state. So £15m & 15 equals £225m i.e. 3x upside from here
Nice tweet from PPG - may help to lift some of the gloom surrounding the dropping SP: Ipswich connection to grid imminent. just missed our end of 2017 target but we are ready.Happy New Year!! So much more to come.
HELLO, I have read this excellent book bought on Amazon :
Title : DAY-TO-DAY OIL & GAS TRADING AND SHIPPING DELIVERY: INSIDE THE OIL & GAS MARKET
Can you advise any other excellent book to read?
Thank you
Happy new Year i have bought this excellent book on Amazon . Title: DAY-TO-DAY OIL & GAS TRADING AND SHIPPING DELIVERY: INSIDE THE OIL & GAS MARKET . Can someone advise me another book to read thanks