Huveaux Share Discussion Threads

[cerrito] 05/10/2009 22:25

I suppose people are getting bored and selling and hence the drifting price; 6 days with no trades in the last month and £9k odd the highest daily turnover shows that does not take much to cause a movement.
Hopefully will have made a lot of money this week at the conservative conference
Problem not reason in the short term for price to move up unless there is corporate activity

[fillipe] 12/8/2009 21:14

A few decent buys at or near 9p, today. For no good reason I feel quite confident about this one for 2010, or a little before.

f

[cerrito] 29/7/2009 19:25

For me no surprises either upside or downside in these results and very small share price fall makes sense.
Note that first half EBITDA was £360k compared to the £4m odd they apparently anticipate making in the year which would mean a second half EBITDA of £3.6m compared to £3.1m in the second half of last year..possible but demanding from my reading of things
Footnote 10 interesting in that spells out different drivers of EBITDA and the success of political learning sector whose EBITDA went up from £353k to £547k year on year.
Reduction of negative EBITDA from HO functions from £647k H108 to £489K H109 following sliiming down of HO as a result of sales last year.
Cash flow not bad and good to see a reduction in debt but still a long haul. Hope we can get good debt reduction in what should be a very strong second half.
I suppose the price may drift down a bit and unless we have corporate activity no real reason for it to go up very much. I see no reason to add or sell

[fillipe] 29/7/2009 00:00

btw C, in this general media area, I'm a fan of MSQ. They've risen a bit recently, but once that sector starts to fire on all cylinders then MSQ should fly.

Yes, I'm in there big-time....very much a convert!

m

[fillipe] 28/7/2009 23:57

Thanks for that note, Cerrito. As it happens I was a TMN shareholder so I now have some Progressives!

HVX int's tomorrow so we'll see what they have to say for themselves. At least we should get a good steer as to whether they're on the right track.....or not.

m

[cerrito] 21/7/2009 14:44

Following message 539 the following article was in today's FT on Mike Danson

[fillipe] 10/6/2009 16:05

Cerrito. A really excellent and thoughtful post. Thanks very much indeed.

I'm hardly in for the next few days/week, but I'll re-read what you've written, later, and will revert.

Thanks again. You've given a good feel of the meeting and how things are shaping up.

m

[britishbear] 08/6/2009 10:32

LOL at the title of this tread

[fillipe] 08/6/2009 00:48

Cerrito, hope you can make it to the AGM - I'm afraid it's too far away for me in "The North".....looking forward to hearing how the mood of things is there. Maybe if the shares get a good enough uptick I might be able to afford the ticket for the next one.

f

[cerrito] 07/6/2009 20:50

more background info I guess we will get a RNS tomorrow
I plan to go to AGM on tuesday

[cerrito] 07/6/2009 19:54

Thanks for spotting the Telegraph article Felipe which for the benefit of others is attached:
Entrepreneur Mike Danson, owner of the New Statesman magazine, moved a step closer to creating his new media empire. Shares in TMN Group jumped 5.6 – or 115pc – to 10½p after the company announced that it will merge with Mr Danson's Progressive Digital Media Group by way of a reverse takeover. The move comes as Mr Danson has been aggressively buying media and digital assets following the sale of Datamonitor, which he founded, to Informa for £502m at the top of the market in 2007. Market sources believe that once the acquisition of TMN Group completes, Mr Danson will turn his attention to Huveaux, the political publisher. Mr Danson has a 22pc stake in Huveaux and recently chatter was doing the rounds that the company's management is set to appoint financial advisers ahead of a bid from the entrepreneur. However, it is thought Mr Danson could merge Huveaux, which marked time at 8.3p, with his publishing interests, including the Press Gazette.

[fillipe] 06/6/2009 11:36

From today's D.Tel it sounds as though HVX might be going into the same family as TMN, ere long.

[fillipe] 10/5/2009 12:23

agm date is 9th June.

[fillipe] 02/5/2009 17:39

Cerrito

Apols for not reverting for so long! Thanks for the Estell info etc.

I was mega badly hit generally throughout 2008 and went into the proverbial shell. Came out last Dec and have since done OK, but a trail of prior losses still to trade my way out of. My av in hvx is 14.69p and I'm just thinking of about possibly averaging down.

gl with however you decided.

f

[foreigner34] 25/2/2009 00:39

What's going on???

[cerrito] 06/11/2008 09:40

Had read about Balls cancelling SATS but had not thought through the consequences for HVX; indeed as others who follow it more closely presumably have thought this through these consequences, interesting that the price has not fallen more as I have attributed the decline to general AIM Malaise. Interesting to see that trading volumes have been light over recent weeks.
Note that in 07 of total HVX Ebitda of £5801K £2923K came from the education department by far the biggest and well head of Political at £1791K of total HVX Ebitda.
I suppose every cloud has a silver lining and the current climate needs as chairman someone with industry experience and what is needed does not play to Van Kuffeler's strengths. Interesting that in the annual report does not detail individual director's salaries so we are not sure how much we are saving, alot if he was the highest paid director who received last year £271k out of total director's emoluments of £878k.
The truth is that these cuts would have needed to have been made anyway given that the company has shrunk after the EPIC/French healthcare sales and the fact that with this news one has to ask questions about debt servicing.
With 152m shares issued the marcap is about £11m which seems pretty generous but I need to do more work before buying or selling.

[cerrito] 25/9/2008 11:21

comment in the FT today that Estel is run by Simon Pyper who was FD at Datastream until Datastream was bought by Informa and is on the board of HVX rival Progressive Media

[cerrito] 24/9/2008 23:07

and now 22.05%
No idea filipe google reveals nothing and HVX seems to be the only company where they have a notifiable interest
will try to phone the company to find out
This should be a plus for the share price but apart from a possibility of a corporate action there is nothing to make this move up ie we are not expecting any results or indeed a trading statement in the near future nor is there any major business development expected.

[fillipe] 11/9/2008 11:37

Any ideas on who "Estel Investment Ltd" [was "Oval(2195) Ltd], might be? I see they've now got 21.72%

Thanks

f

[cerrito] 05/9/2008 14:00

From Today's FT I assume we will get some RNS on this perhaps news of this overhang is one of the reasons the share price has been so weak in August
quote
Publisher Huveaux was in focus after a block of 22m shares - nearly 15 per cent of it - was placed in the market by broker Kaupthing. The shares held firm at 10¼
unquote

[cerrito] 24/7/2008 11:45

Am looking at following the example of the directors and topping up in way that will be less modest than if I had had no shares. For those with no holdings merits careful research.
Cash position is not great but will probably suffice noting as I do they have to make £2.1m of loan repayments in the coming year.Net cash inflow from operating activities was £1.6m in H108 down as one would expect from £3.6m in H207 and they will be doing little capex;I assume that alot of the £586k investment in intangibles related to investments in the education division following the curriculum changes.
EBITDA in H208 in the political division and education division should be ahead of H207's results of £1.7m and £2m respectively. For those who follow this(and I do not place much store in it) net assets at 30.6.08 of £41m compares to marcap of £16/£17m.
My view is that has reached a bottom but not sure what will be a catalyst for a major rerating

[psolomons] 11/7/2008 16:54

This seems oversold to me. The company issued a very upbeat trading statement recently after all the trauma earlier in the year and yet the share price is resting at near record lows.
Unless HVX have been misleading the city there should be some re-rating on the way.

[cerrito] 18/6/2008 23:07

There was indeed £10m+ of cash on Epic's books when it was bought but given the issue of 32m shares, payment of cash of £8.3m and transactions costs of £1.1m there has been shareholder value destruction by more than the amount of expertise they would have gained, especially as they always emphasized the benefits the now sold French healthcare derived from it.
I assume that HVX benefited from the good business deals signed by EPIC at the end of the last financial year.
There also seems to have been a lot of value destruction in the E8.25m sale of the French healthcare business where the purchase price of JBB Sante was E11.5m plus E2m of integration costs as well as the acquisition costs when ATP-Egora was acquired in 2004, figures I do not have to hand.
The company will be left with E7.75m and £8.6m of bank debt which will need to be serviced from the Political, Educational and Learning ex EPIC Divisions; last year their EBITDA were £1.8m, £2.9m and £0.5m respectively ie at last year's £5.2m of ebitda to service approx £14.5m loans...will be interesting to see the revised maturity schedule.
All pretty breath taking but the question before the house is whether the company is worth the £25m odd marcap and indeed it will be interesting to see the first half year's results coming out as I understand it at the end of July, especially given the upbeat AGM comment.