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EVT Eurovestech

6.75
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Eurovestech LSE:EVT London Ordinary Share GB0002292810 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 6.75 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Eurovestech Share Discussion Threads

Showing 451 to 472 of 775 messages
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DateSubjectAuthorDiscuss
06/10/2009
16:10
Not sure if there's a touch of sarcasm there egoi, but I think Ken is being very generous in sharing his research on free bb's. The depth and detail he applies are not something you knock up in 5 minutes.

So thank you Ken for your effort.

dire cons
06/10/2009
08:41
Perhaps Kenmitch is too modest? -:)
egoi
03/9/2009
11:33
Nice 130,000 buy today and moving ever closer to the 14.5p barrier :-)

RM

rampmeister
11/8/2009
12:46
Thanks Kenmitch for most informative post.

I am in for the run up to final results next month and the possible contract wins for KSS as flagged in trading update of 30th July.

SP seems to have been languishing below the 14.5p level since last October so any sustained close above that level would be extremely bullish. The share price has already broken out above the long term (two year) downtrend at the beginning of July so I am pretty hopeful that further upward progress can be made.


RM

rampmeister
10/8/2009
19:20
The shares certainly look cheap now - the more so since newsflow has been good while the share price has fallen from 24p to 14p.

I posted about EVT on Mike Walters bb last week and one or two here fairly new to this Company might find it interesting. Not much in it that those who have held the shares for ages or followed the Company for a long time won't know already.

I agree re quiet ADVFN bbs being preferable to those full of rampers - but arguably EVT could do with getting a bit better known and understood, as it needs buyers to get the share price up.

Anyway here is the post from the other bb. If anything is incorrect or if having more positives (or negatives) to add please post.



"Plenty on this thread about Eurovestech and Toluna.

It's been a wonderful winner for a few here over the years since posted about a few years ago at just 2p. BUT it is also true that some have bought and made very little as at times the shares have done little or even gone down - as they did last year after peaking at 24p.

I held almost continually from 2p but then sold last year partly because I couldn't see the EVT share price holding around 24p when so many shares were falling, but also because one of their last acquistions, MIST, did not come up with the immediate good news that was largely behind the quick rise in the share price from 18p to 24p. I also sold as I needed the money after suffering losses last year and at least EVT was going for a good profit - a rarity with sales in the depths of the bear market.

The shares are now 14p to buy having bottomed at around 11p a while ago. I bought them back at 11.5p and have added more at 13p and am tempted to add again.

Recent news suggests they are now a strong buy with (barring surprise bad news from Toluna) little downside and considerable upside potential over the next few months. I'm hoping for around 50% on the current share price within a few months, with maybe more to come after that.

Why?

The current market cap of about £47 million only covers their remaining 30% stake in Toluna and the £11 million net cash on the balance sheet. EVERYTHING ELSE is in the share price for free.

Before a brief look at what is in the price for free, a mention of recent news from Toluna. This includes recent purchase of a Company from Microsoft for just $40 million when not so long before Microsfoft expected to sell it for $120 million. Yet another example of their ability to spot a bargain - assuming it proves a good buy. It should. It is expected to be strongly earnings enhancing and means Toluna now has a 12% share of the market. So there is a good chance that the Toluna share price could go up a good bit more, once increased profits are confirmed. It held up very well during the bear market - but is overdue a bounce now as the price has also done nothing while many other shares have been soaring. The PE ratio, not so long ago very high, is now down to around 15, quite modest for such a fast growing Company.

What about that £11 million cash? Based on previous experience EVT are likely to spend it well. Maybe not in such a stunning way as with Toluna - where their intitial £2 million investment has turned in to £50 million so far. Nor perhaps as good as KSS bought for peanuts and now doing very well - but they are very good at finding bargain buys.

Anyway what is in the share price for free?

1. KSS.

See the previous post on this thread for the latest RNS posted by Man in Grey. At first glance it looks bad - delayed contracts. But read on and see the likelihood of several contracts soon. This has happened in the past. EVT would rather lose a contract than sign on poor terms just to get them included in the next set of figures.

KSS retail has been winning some good contracts including a mulit million dollar one with dunnhumby coupled with a strategic partnership that includes Kroger and Tesco. If their cost saving technology is good enough for Tesco others might decide it is good enough for them too. KSS is now making significant profits and must be worth £10 million at least, yet is in the share price for free.

Magenta has imo been a disappointment. BUT they are breaking even and have no debt. They have also recently moved in to online marketing with their Maxifier brand and prospects for this section of their business look very good. What is Magenta worth? A conservative £5 million and probably more - and again in the share price for nothing.

Two of their latest acquisitions again in the price for free are Lognet and MIST Technologies. Lognet is expected to become profitable in 2009. Apparently more and more blue chip customers are signing up, adding to an already strong customer base. Again this Company too must be worth £several million.

MIST got me and others very excited last year with a technology to reengineer sound to a high definition quality. Apparently the market opportunities are huge. So far that hasn't been shown in contract wins - but one major win would change that. There is much more on MIST in posts on this thread last year.

Major sharholders include Invesco who hold nearly 30% and SVM Asset Management with 20%. Richard Bernstein holds over 8% and Artemis over 7%.

The main negatives?

In terms of how they are doing very few - aside from Magenta taking longer to fulfil the promise, and that possibly applies to Mist too. But since both are in the share price for free and Magenta is breaking even and has no debt that is not much of a negative!

The other main negative from an investment point of view is that aside from investors who have known about EVT for years there seems to be little investor interest or understanding about the Company. That may well be a factor in the shares lagging recently. But that could change - either with more impressive contract wins, say for KSS, and/or even more impressive results from Toluna. That might well give the TOL share price a lift and if that didn't lift the EVT share price too then EVT would be even cheaper than it is now.

So if looking for a quick multi bagger EVT is the wrong share. If looking for a top quality, well managed, successful small Company trading at a bargain price with the potential for at least 50% share price upside over the next few months then EVT is worth checking out. There is loads on EVT and Toluna on this bb."

kenmitch
05/8/2009
13:12
Whilst share price is currently at a mere 29% discount to NAV, recent note from Killik pointed out that stripping out the value of the Toluna stake and the cash holding, places the remaining portfolio holdings at a c. 90% discount to their total 30 September 2008 valuation (last announced NAV).

Money Observer also gives favourable mention so I have been persuaded to have small punt at 13.75p before this turns into a clamour. I am also encouraged by nice quiet bb with small band of posters.

RM

rampmeister
03/8/2009
14:32
Eurovestech are featured in the 'AIM Snippet' article in Aimzine this month. - registration needed, but it's free.
mjcrockett
29/6/2009
11:03
Thanks will have a delve! -:)
egoi
29/6/2009
10:26
Kenmitch excellent stuff; do you have overall figures for EVT? market cap, cash, stock holdings any debt etc?
egoi
29/6/2009
09:43
Apologies for being lazy and just copying a couple of posts I've done on Mike Walters site. With luck any who agree/disagree or who can add anything else will post.

"Toluna has announced an acquistion and share placing at 210p to raise £28 million. They've bought Greenfields Online Inc a wholly owned subsidiary of Microsoft and claim it will be significantly earnings enhancing.

At the same time EVT have sold about 3.5 million of their holding in Toluna for £7.5 million. That reduces the EVT Toluna stake to 29.9%.

Toluna cost EVT about £2 million. EVT have now realised around £15 million from sales of Toluna shares and their remaining stake is worth £31.3 milion at the 210p placing price and a bit more at the current 226p Toluna share price.

That's a genuine multibagger.

The TOLUNA news today is on top of the excellent contract news from KSS yesterday. KSS was a similar bargain - bought for £1 million and already profitable, and now with that big multi million dollar contract win yesterday. EVT shares are up again today gaining another 0.75p on top of the 0.75p gain yesterday.

I've mixed feelings about EVT selling more TOL shares,just when TOL has made what looks an exciting acquisition and further strengthened their finances. The acquisition means TOLUNA is now the leading online Company - yet because it is French owned few here seem to realise this and the shares can go days without any trades. Even with this news today so far there hasn't been a single TOL share traded. Maybe this is a factor in EVT selling reducing their stake - and it gives them useful funds for further investments.

In a couple of recent posts I suggested that the EVT share price would continue to do little until there was proper good news from the likes of TOL, KSS and Magenta and also from their news acquisitions like MIST. Well we've now had news from TOL and KSS that has indeed given the EVT share price a lift. Now fingers crossed for more of the same and from other of their investee companies to help the shares continue their recent good run. "


AND

"Wow!

I posted on the Toluna acquisition yesterday.

Seems they got a bargain - and that's on top of Toluna being such a bargain buy in the first place.

Here's Geoff Foster's comment in his Daily Mail market report today.

"AIM listed media company Toluna improved 2p to 228p after raising £28 million in a placing at 210p a share to help fund its acquisition of the internet services arm of Greenfield Online from Microsoft for £24.5 million. It appears that Toluna got a bargain because Microsoft had plans to sell the business to private equity for around £75 million but the credit crunch put the kybosh on that.

It's good news too for investor EUROVESTECH 0.75p dearer at 13.5p. It did own 50.6% of Toluna but that has now been reduced to 29.9%. It keeps a stake worth £31.3 million at the placing price, so its initial investment of £2 million is now worth a stonking £46 million."

The only slight negative in the above is that it reinforces my disapppointment that EVT have sold down their TOL stake to just 29.9%, as if the acquisition beds in well, and proves to be an absolute bargain, then TOL shares could go up a lot. otoh EVT have taken another £7.5 million profit and you can't lose taking a profit.

Even though the EVT stake is now down to 29.9%, EVT remains the better choice imo as their shares are so cheap and even now if the TOL share price does rise strongly then the EVT price should also go up in response. And with EVT you also get the other bargains like KSS, and now even more cash, thrown in as well.

I hold EVT - looks good as a longer term lockaway with surely limited downside? The share price bottomed out at 11p not so long ago and with the recent good news from KSS and now this from TOL surely a fall lower than that is fairly unlikely now? The rise might be fairly gentle too - but no reason why the shares should't go back to their 2008 price in the mid 20s in time. i.e a good chance the share could double. You'll be buying a share where Management have proved both their quality and their eye for a real bargain."

kenmitch
08/6/2009
12:02
Nothing much to add to the excellent points already made by egoi.

As for TOL and an election - fwiw I don't think it will make much difference to TOL. It might to YOU.

TOL being a French Company gets far less recognition here, to such an extent that when analysts comment on the sector they sometimes do so as if TOL doesn't exist.

I can reaffirm again that I have no links with EVT or TOL. Anyone who reads bbs will find that I post on other shares and especially warrants. I've also confirmed on at least one bb (Mike Walters) that I sold both TOL and EVT for a while as I couldn't see the share prices rising when markets were falling, and there was no point holding a share I was expecting at best to do nothing and more likely to go down.Is that the sort of thing you expect to read from someone connected to the Company? In the event TOL held up very well but EVT fell nearly 50%, and has not YET joined in the recovery that so many shares big and small have enjoyed.

fwiw I think EVT is now very cheap with everything other than TOL in the share price for free, and that includes their cash. I also feel unfortunately that the share price is going to do little until either TOL or EVT comes out with news that merits a share price rise. There is talk about bids in the sector - again focussing on YOU and ignoring TOL. I've no idea whether there is the slightest chance of a bid for TOL but it would be a tasty and quality nugget for a larger outfit wanting to expand their online research without having to do the bulk of the donkey work themselves. So a bid for YOU, TOL or RNOW might be on the cards. And if thinking TOL could be a target then EVT who hold around 50% of TOL would benefit too.

ninjajut.

At least you attempted to have a go at explaining. You didn't convince me but others will make up their own minds. Your gripe with Investec is presumably with Neil Woodford, one of the most successful and respected Fund Managers.

Readers will make up their own minds whether he is crazy as you suggest to continue to hold or whether they should take more notice of you.

kenmitch
05/6/2009
12:27
YOU is imho really toiling, turnover up yet profits slashed as of last interims.

RNOW has if I recall over 20 million of intangibles which imho its balance sheet is heavily dependent on.

That start to give anyone round here a clue as to why TOL might thoroughly deserve its higher market cap.......?

It does to me. -;)

egoi
05/6/2009
09:33
Two more thoughts:
1) Without the acquisition of Common Knowledge (removing the profit and exchange gain)TOL would have reported operating profit of -4% rather than the headline +56%. This rather defeats the Boards highlighted underlying growth figure of 35%.
2) Continuing the turnover argument with RNOW and YOU being 2x the size of TOL they should be at a premium rather than a discount.

ninjatnut
04/6/2009
23:48
egoi - you are wrong to dismiss the turnover argument in this case as the three companies operate in the same market, providing the same service to the same clients and charge very similar prices. As the online market research industry matures any initial structural differences, based on grabbing market share, will diminish resulting in similar profit potential relative to turnover.
ninjatnut
04/6/2009
19:56
The very idea that turnover and market cap should necessarily have anything in common! -:). I can think of , imho, cr@p companies with turnover many times their market cap, and vice-versa

Classic; especially as ninjatnut apparently reckons, imho, he is a 'shrewdie' on the financial services industry. Major LOL. -:))

I'm a retired schoolteacher actually [FACT]. Wild horses would not have made me work for a company like RNOW, TOL or YOU (yawn).

Maybe Ninjatnut has, or does for a (toiling?) rival, though? Just my little personal wee guess there, accept I could be wrong of course. -;).

PS: Kenmitch, how do you think a snap election would (if atall) benefit TOL? Short and/or long term benefit?

Actually, my sincere thanks to Ninjatnut highlighting and reminding me of this company, now tempted to get involved myself ahead of any election, which isn't far off any which way..

Could be a bid one day for TOL of course imho too........ more I think about it the more interesting this becomes to me - thanks again ninjatnut. -;)

egoi
04/6/2009
17:28
Hi guys. I am not knocking the management of EVT or TOL they are doing a great job convincing investors of the worth of these companies but on any valuation they are both well overstated. The shares, especially TOL are too tightly held to create a true market so, in my opinion, you are buying these shares at your peril. My gripe is with INVESCO and other institutions who should know better.
A few points:
1) From TOL's 2008 accounts "Between 18 June 2008 and 31 December 2008, Common Knowledge contributed £868,000 of the consolidated profit before tax. Had the acquisition occurred on 1 January, the turnover of the enlarged group would have been £24,758,000 and the profit before tax would have been £5,056,000". So CK made £1.194m for the year and EVT paid £5.464m in cash. Based on that valuation TOL would be worth £23m. Also note that CK did not take shares so they are not convinced of the "significant operational and geographical synergies".
2)Included in the profit for the year are very exceptional exchange gains of £946k which amount to 20% of profit. This would reduce diluted eps to 7.18p or yoy growth from the headline 46% to a much more modest 17%.
3) Both RNOW and YOU have approx 2x the turnover of TOL but are valued significantly lower. The volume in both these shares is considerably higher reflecting a fairer market value.
4)In the recent AIM market shake out TOL is up 10% yoy against the market down 30%, you see this as strength but I see it a lack of liquidity supporting its over valuation.

PS You have done a good job trying to convince me you are not connected to the group but I can't bring myself to believe you. Surely no sane person would buy these!

ninjatnut
04/6/2009
13:25
Thanks egoi.

I agree with everything in your post.

I can't see ninjatnut responding to your challenge since there is not a shred of evidence to suggest for example that TOL is incompetent.

I just can't fathom why he/she has gone for TOL and EVT as it is a bit like going for Vincent Cable as the worst example of MP's fraudulent claims instead of the correct targets.

So odd to go for the wrong targets and on a bb that sees very few posts.

btw - I also agree that it is only for some of the financial services industry where the negative comments are justified.

You're probably right about the EVT and TOL share prices doing little short term - unless the forecast bid for YOU mentioned in a couple of recent market comments comes for TOL instead. That's one reason why I bought some EVT back at 11.25p as buying EVT is a good way of also playing the TOL upside. Also when I bought there had for a change been a number of large trades - that ended up from memory being an Institution going above 3%.

kenmitch
03/6/2009
11:42
Well said Kenmitch.

I don't believe there is any 'greed arrogance or incompetence' from TOL or EVT that I have seen any evidence of and your post certainly does nothing to make me think otherwise frankly ninjatnut.

I too have nothing to do with any of the companies either before any comment is made to the contrary by the way. And while I agree some financial service companies may be open to such commentaries, I find zero evidence of it in this case - but am happy to be proved wrong.

I think EVT is too cheap and value will out at some stage here, but am not in a rush to invest while the share price remains so static and apparently unsupported.

The idea that TOL is somehow incompetent strikes me as bizarre, it looks to me a far better run business than, as Kenmitch seems too think too, its two closest comparators.

Perhaps ninjatnut you could provide some actual evidence next time instead of what I consider to be the sadly rather inane looking tittle-tattle you have aspired to thus far?

egoi
03/6/2009
11:17
ninjatnut.

I have no links with EVT whatsoever, so your guess about me being linked to them is wrong. I held EVT shares for many years and have recently bought them again as they look far too cheap. You mention their Institutional shareholders - these are high quality with Neil Woodford being one of the most successful and respected fund managers.

You probably got the idea that I work for their PR Company from comments like that. But the reason I've posted so much positive stuff in the past is because I believed the story and was happy to try to inform other investors on bulletin boards. Had you read some of my more recent posts you will have seen doubts included - and these I still have until Magenta, KSS, MIST etc really produce the goods.

I share your opinions about the financial services industry but am totally bemused as to why you have selected EVT and TOL as victims! Both TOL and EVT are quality Companies and the TOL share price has not imo held up so well for the reasons you give but because it is continuing to do very well. The other main two in the sector RNOW and YOU both saw their share prices hammered when things went wrong and the same would happen to TOL in that situation. Credit to TOL that they have gone for modest bolt on acquisitions and not the large scale buys that saw YOU come unstuck for a while.

Have you looked btw at the EVT method of donating to worthwhile causes? If only more Companies would do the same. That also gives you a hint as to why you are imo hitting the wrong targets by going for TOL and EVT.

kenmitch
02/6/2009
16:50
Hi Ken, I have no financial interest in TOL or EVT but you obviously do otherwise why do you show an interest? - I suspect you work for their financial PR company. I am posting here because I want to act as a thorn to the greed, arrogance and incompetence of the financial services industry and this is a fine example. TOL has a stock market value of £82m but on any other valuation is worth considerably less, the shares have very restricted free float and value is maintained through judicious purchases. INVESCO ultimately owns 38% of TOL and also has an interest in maintaining the status-quo. EVT despite its very incestuous shareholdings, is harder to control and as you point out the shareholders of EVT are also of the opinion that TOL is overvalued.
ninjatnut
26/5/2009
12:21
ninjatnut.

Why do you waste your time posting nonsense on a thread that is read by so few with only two posts this year? If you really want to waste time posting nonsense why not do so on a livelier thread?

Anyway to show that you are posting rubbish bear in mind that the Eurovestech 50% stake in Toluna is itself worth more than the entire market cap of Eurovestech. That means that around £5 million cash and every single one of their other investments including the profitable KSS + Magenta etc are all in the share price for free.

I've no idea whether or when the Eurovestech share price will go up again - but it's a fact that the shares are very cheap and have more than halved on no bad news at all and while the Toluna share price has held up very well. Indeed Toluna was one of very few AIM shares that actually rose in price last year.

Any chance of you providing facts and figures to explain your last post?

kenmitch
21/5/2009
09:55
Bid to support the share price has obviously failed. You cannot fool everyone.
ninjatnut
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