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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Gyg Plc | GYG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 30.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 30.00 |
| Top Posts |
|---|
Posted at 04/5/2021 11:38 by ga_dti Watch our exclusive interview with Remy Millott discussing final results for the year ended 31st December 2020: |
Posted at 25/9/2020 09:52 by energeticbacker Disappointing interim results but a record order book offers encouragement.The order book stood at €53.8m at 22 September (2019: €43.6m), of which €20.6m is due for the current year. GYG is certainly an unusual public company. More on the Investor's Champion website. |
Posted at 23/7/2020 10:20 by starpukka cambridgedon, GYG has been a hidden gem for me. But that debt level must surely be a worry. |
Posted at 13/7/2018 15:33 by cambridgedon Anyone got access to Share Profits? They have a piece on GYG citing imminent repayment of loan notes being a problem.CD |
Posted at 12/7/2018 08:19 by pireric Classic Zeus float with a massive Divi yield to tempt where the equity story is weak |
Posted at 26/4/2018 08:11 by penpont Simon Thompson of the IC updated his thoughts on GYG yesterday as follows:Chief executive Remy Millott and finance director Gloria Fernandez of GYG (GYG:123p), the market leader in new-build and refit superyacht painting, were in upbeat mood during our results call. The company listed its shares, at 100p, on Aim last summer when I suggested buying them (‘Floating a profitable passage’, 4 Jul 2017), attracted by the fact that the number of 40-metre-plus yachts has doubled to 2,000 in the past decade, and is predicted to grow by a further 14 per cent by 2020, according to industry analysts, buoyed by the steady growth in the number of billionaires. The boats are getting bigger too with the average GYG client owning a yacht 78m in length, and with an average painted surface of 3,500 sq metres. That’s good news for the specialist companies catering for the maintenance of these huge ocean going vessels which require a major survey every five years to comply with certain class, maritime laws and insurance requirements. Indeed, GYG’s refit and new build revenues increased by 16 per cent to €53.7m (£47.1m) last year, and there was a useful contribution from its supply business which sold almost €9m worth of marine products and maintenance equipment through its retail and yacht supply divisions. It hasn’t all been plain sailing though as last autumn’s unprecedented US hurricane season forced yacht owners to extend their Mediterranean sailing season before transferring their prized vessels to the Caribbean for the winter months which subdued business on the east Coast of the USA. However, no contracts were lost, one reason why I continued to rate the shares a buy at 123p at the time (‘Exploiting buying opportunities, 22 Nov 2017). Importantly, the directors are comfortable with market expectations that GYG’s revenues can ramp up by 18 per cent to €74m this year to lift pre-tax profits by more than half to €8.6m and deliver EPS of 12.9p. These bullish forecasts seem justified as a record forward order book of €20.4m at the turn of the year has grown sharply since then, and is likely to continue to make waves buoyed by a pipeline of work now worth €375m and underpinned by GYG’s eye-catching historical conversion rate of 32 per cent. Shareholders are being rewarded with a dividend per share of 3.2p, and analysts expect the payout to rise to 6.6p this year, covered almost two times by EPS estimates. Net debt of €6.7m is expected to be slashed by more than half in 2018, reflecting the fact that almost two thirds of forecast annual cash profits of £9.9m could be turned into free cash flow. Bolt-on acquisitions are being considered too. Trading on 10 times forward earnings, and offering a 5 per cent plus prospective dividend yield, I maintain my 170p target price. Buy. |
Posted at 18/4/2018 13:21 by alter ego I already hold GYG but added more today after reading through the presentation highlighted by robinnicolson (post 86). Thanks for that Robin, very informative and encouraging regarding the size of the market and GYG's dominant position.Demand looks set to keep growing with increasing numbers of very rich people. It seems unlikely that clients will be too bothered about paying for top quality given that charter rates for these yachts run from €150k pw for a small yacht to €750k pw for a large one. Getting the work done on time and avoiding rework is likely to be far more important to ensure the vessel is back on the water as soon as possible. Competition for the largest work looks limited with the main competitor, Yachting Protection, a private company in Greece and most of the rest relative minnows. Some consolidation seems likely too. With outlook positive and the dividend for a full year set to yield about 5.5%, I'm content to see how things progress in the months ahead. |
Posted at 18/4/2018 08:40 by robinnicolson Zeus Capital:"We are maintaining our forecast assumptions on the back of these results. We are encouraged by the growth in order book. GYG is well positioned for growth given its position on a number of fronts (refit new, supply etc). Valuation – GYG plc trades on a 2018E P/E of 9.5x (falling to 7.7x in 2019E) and an EV/EBITDA of 5.9x (falling to 4.8x in 2018E), which we believe is compelling in the context of a >6% yield from 2018E. Our valuation is also supported by our DCF and intrinsic value analysis, which implies a valuation of €124.5m (£107.1m) if the strategy is executed successfully." Incidentally there is an informative presentation on the company website: hxxps://www.globalya |
Posted at 29/3/2018 20:42 by lordyjordy1 Zeus capital. High dividend yield. Accrol. Let's see |
Posted at 21/11/2017 08:01 by jonwig Zeus comment this morning:GYG has given a trading update this morning, which has highlighted it has experienced several delays on the start dates of some of its refit contracts resulting from the two hurricanes that hit the US and Caribbean in Q3 (a large proportion of mega yachts go to St Barts and St Martin who were both hit extremely hard). This is a timing issue rather than contracts being lost or cancelled. In addition, a substantial contract scheduled to start in September has also been delayed due to the vessel not arriving in dock until the middle of November. The contract delays occurred exclusively within the Refit division. The impact of the hurricanes has disrupted cruising patterns with owners extending their Mediterranean season while facilities were assessed in the Caribbean, hence decisions relating to refit programmes were delayed. The “substantial&# We are downgrading our 2017E forecasts to reflect the timing of these Refit contracts, which generate gross margins in excess of 30% and therefore has a disproportionate impact on profitability. We are now assuming revenues of €61.0m (-8% vs. previous forecasts) with adjusted EBITDA of €7.1m (-12% vs. previous forecasts). We have also tweaked up our depreciation number by €0.2m to reflect the increased activity levels in Technocraft, which involves the hiring of equipment. The upshot is a 17% cut to 2017E EPS. We are maintaining our 2018E forecasts at this juncture, which should prove very conservative given this timing impact on Refit contracts. While the downgrade to 2017E EPS is disappointing, we believe the Group is well positioned with superyacht numbers at their highest ever levels and growing, with the order book dynamics firmly intact. The dividend yield in excess of 5% from 2018E should also offer some support in our view. |
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