Revolution Bars Share Discussion Threads

[muffinhead] 28/2/2017 09:18

"Adjusted* EPS up 7.1% to 9.1p (FY16: 8.5p). Reported EPS of 7.7p (FY16: 8.0p)"

I think the RNS should read H116

Administrative costs are wiping out gains from increased turnover

Non-GAAP reporting....maintenance capex going to be needed with all the competition
Even so needed "drawdown of borrowings" £4.5mill on cashflow statement

[fizzypop] 28/2/2017 07:57

Paul Scott‏ @paulypilot 30m30 minutes ago

Revolution Bars (RBG) interims look fine to me. In line FY outlook. It's a cheap retail roll-out, with no net debt. Lovely cashflow. I hold
0 replies . 2 retweets 8 likes

Paul Scott‏ @paulypilot 13m13 minutes ago

RBG - share price dropped c.10-15% on worries when FD departed recently. Nothing in accounts today to justify that worry.
0 replies . 0 retweets 3 likes

Paul Scott‏ @paulypilot 5m5 minutes ago

RBG- FinnCap just raised its PBT/EPS forecasts by 3% for both 6/2017 and 6/2018 years. Cites softer pr yr H2 comps, strong H1, new openings
0 replies . 0 retweets 0 likes

[muffinhead] 27/2/2017 21:17

All Bar One opening next week in Harrogate across the road from Rev de Cuba
...very similar offering



Good luck tomorrow

[thevaluehunter] 23/2/2017 00:31

Yep good spot jg88721, I incorrectly used the store adjusted ebitda figure from their stats and not the adjusted ebitda figure so the be at one proposed multiple is much higher at c13-14x (please ignore the figures in my original post). The key point is that RBG looks v.inexpensive for a roll out at c6x EV/EBITDA.

[jg88721] 21/2/2017 19:50

good post valuehunter. Inspired me to look a bit more at its CH accounts too.

60m valuation for 31 bars (and 8m debt as at March 2016). Looks like they are doing about 1m pd a bar in revenue p.a., earn a ~73% gross margin, and earn a 5% operating profit (a/cs to March 2016)

OTOH, RBG also does food and this might partly explain why RBG's avg rev a bar pa is ~ 2m (120/62). RBG's gross margin is similar, at ~76% gross margin, and operating margin is a little better at 6%.

RBG has 60 bars and is valued at 100m (with no debt). So, 1.6m / RBG bar, versus 2m/bar for Be At One.

RBG's EBITDA reported at was 15.6m so, yes, about 6x. But Be At One's EBITDA (After centralised costs) was only 4.7m, so > 13x if they get 60m for the business (14/5x including 8m of debt). I think you may have used Be At One's store adjusted EBITDA?

[someuwin] 16/2/2017 08:04

Peel Hunt initiates coverage with 260p target.

[adred] 13/2/2017 19:02

True salchow, I may drop in anyway market research :-)

[salchow] 13/2/2017 17:48

No ADRED, no shareholder discounts. Not a great reason for holding a share in any event.

[adred] 13/2/2017 11:57

Planning permission in for Revolution Bar in Solihull, do shareholders get a discount?

[melody9999] 08/2/2017 23:52

Lets not forget tha TU from just 3 weeks ago.

"Trading results are expected to be in line with the Board's expectations, reflecting a further period of growth in the number of sites, revenue and profit."

[albanyvillas] 08/2/2017 21:20

MIGHT WARN NOW THE FD HAS QUIT

[geheimnis2] 08/2/2017 21:08

Great buying opportunity!

MMMMMMOOOOOOOOO!!!!

[113mike] 08/2/2017 17:49

I'm in for the progressive div anyway. Bought in a few months and happy to hold

[rimmy2000] 08/2/2017 17:45

Bought in @ 183. Tree shakes good for some, less so for others. Nice to be here.

[muffinhead] 08/2/2017 12:00

that was fun

[bazzer1000] 08/2/2017 11:48

so just stops being hit then, as this is a SETS stock?

[fizzypop] 08/2/2017 11:40

If it looks like a tree shake ...

[bazzer1000] 08/2/2017 11:36

mmmm L2 suddenly looking very strong....

[bazzer1000] 08/2/2017 11:32

l seem to remember this happened at Pace. CFO suddenly resigned, everyone panicked and bailed out, turned out everything was fine. It then got bought out at a premium a year later. Anyway I might live to regret it but I've bought more :-/

[goldenshare888] 08/2/2017 11:01

This does not look good to me and is on my avoid list!