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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Sat Sol World | SAT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 8.60 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 8.60 | 8.60 |
| Top Posts |
|---|
Posted at 24/5/2018 11:17 by quepassa IMPORTANT.Name change EFFECTIVE TODAY. SATSOL now known as BigBlu Broadband and as of 8am today will cease trading under old ticker will trade under new ticker of BBB Also the CONSOLIDATION took place today. For each 15 SAT shares owned, you will now own one BBB share. Someone please start a new BBB thread? ALL IMO. DYOR. QP |
Posted at 14/5/2018 08:19 by tightfist Plenty going on with SAT. A flurry of Buying at 8am, followed by the General Meeting at 10am this morning.I like the proposed name change at the later AGM to a name embracing more ISP technologies suited to remote areas.I am curious about the evolving relationship with the EBB JV as the retail arm; one wonders about the likely margin impact though after their sales the founders IMO will still have a good degree of skin-in-the-game for an eventual exit strategy?Cheers, tightfist |
Posted at 14/5/2018 08:18 by quepassa Sunday 13th. May. -Mail on Sunday" MIDAS SHARE TIPS UPDATE:Investors are beaming as Sat Sol Worldwide's shares double in price" "Midas verdict: SSW has grown rapidly ..........But the best is yet to come.Existing investors should hold whilst new investors could still see value at today's price" See full article hXXp://www.thisismon Very encouraging and upbeat article. ALL IMO. DYOR. QP |
Posted at 23/4/2018 11:22 by varies re competition from AirbandI have been a customer of SAT for several years as well as a shareholder. The speed is not wonderful but as good as my old BT connection and more reliable. I live 4 miles from the nearest BT exchange. Airband, based in Worcester, have sent out a mailshot inviting residents in my area (SY5 6PS)to sign up to their service. I doubt whether I would want to switch but I wonder if Airband should be seen as a serious competitor to SAT in the rural market in the UK. Do any of you posters on this thread know anything of Airband ? |
Posted at 27/3/2018 10:10 by tightfist Yep! I went to the 4:45 presentation, less people there than last year (the 2017 delay was only briefly mentioned once!). Everyone was quite well informed about SAT and the outlook is more of the same, although one got the impression that acquisitions are intended to slow down (but not stop) from the recent frenetic pace, inferring that 50% growth in three years is expected to be far more organic/JV driven.There was quite a bit of talk about the capability/capacity of the new Viasat satellite due for launch in 2019(?), and also their customer-facing relationship rolling-out the Viasat/Eutelsat JV.Any specific questions, I'll try and answer! tightfist |
Posted at 13/3/2018 07:14 by dan1nat1 https://uk.advfn.com |
Posted at 05/12/2017 07:26 by hausofmaus Absolutely fantastic news, I'd been a little worried about the impact of this JV on SAT, so really good to see we're to be it's public face.For background, this is the statement from the setup of the JV...hTTp://news.eut |
Posted at 29/3/2017 14:49 by tightfist Apologies for my tardiness in getting this out; summarising last Wednesday is a bit of a challenge but here goes - I hope this adds to the excellent "Johns" article linked above:The CEO was keen to get Monday’s delay saga out of the way, so I will too. Basically the new ("bigger, better") advisers (Numis) have a more protracted review process than formerly (Arden) and the CEO 'fessed that he has was not aware and had not allowed for that - hence the delay in release. The team of CEO (Walwyn), CTO (Clifton), CFO (Waters) and CCO (Brian Southward) presented; they were extremely well prepared and very joined-up. Acquisitions: Naturally this topic was omnipresent but led by Southward. Two strands – Market Entry, Consolidation. SAT claim to be globally the only cross-border Satellite Broadband operation, currently in 31 countries and billing in 9 currencies. Now have hubs in five countries, expressed as part of their expansion template. Considerable emphasis on the upfront processes (14 completed in 22 months, “quite a few rejected”) and the value-add from retained management. They are networking extensively and now being approached by would-be vendors. Financial criteria include max 4x EBITDA multiple (before operational leverage upside). Three acquisitions post year-end EBITDA multiple is 3.75x. Customers: Numbers now stand at 85,000 Churn has dropped from annual 19.7% to 15.7% , expected to stabilise at 1%pm. 28% of churn was due to fibre installation (reducing), 32% due to property moves. Demand: Government funding schemes are gaining traction (lately even in the UK!) and especially in Oz. Overpowering politics of the “digital divide”. Like-for-Like Organic sales growth running at 12% Marketing spend is minimised; targeted mail shots in immediate vicinity of new customers Margins: SAT premise is that typical family data demands will continue to grow aggressively and justify flat ARPU, whilst costs fall with next generation satellites from 2020. 2016 ARPU was £42.14, target is £500 (£41.66). Distribution channel and scale effects within satellite supplier negotiations projected to continue improving Gross Margin. Resellers were 50% of sales, now only 23% and increasing margin capture. Gross Margin increased from 24.4% to 34.0% and projected to continue strengthening as satellite unit data costs are renegotiated (eg the recent SES deal). CFO Commentary. Management IS: 19 KPI’s used for monitoring. Operating Cash Flow was positive £640k; used to pay-down satellite suppliers early and improve credit terms. Group headcount 176; 35 of whom are in Sales CFO is not a fan of Intangibles; intends writing-off ASAP, limited to two years. Cash conversion: Projected to be 100% of EBITDA Continues to be a very asset-light business BoD and Management hold ~25% of equity Future growth: One thing not talked about was growth beyond the 100k target. However the RNS statement “… the scope for growth is beyond what we originally imagined….R One example is Oz. where government satellites have capacity for 400k and SAT (as second player?) have only 29k but already growing organically at 1+k pm. Greenfield opportunities? New satellites have three year lead time; implied interest in Spain, Italy, Germany and NZ Cheers, tightfist |
Posted at 03/1/2017 08:53 by cheshire man Buyers in this morning and here is the tip in full5 AIM share tips for 2017 By Andrew Hore | Fri, 30th December 2016 - 11:13 Share this 5 AIM share tips for 2017 alternative smaller UK companies profit growth investAIM has had a good year, but you can still find profitable, growing companies at reasonable prices. Former AIM writer of the year Andrew Hore names his five picks for 2017. Satellite Solutions Worldwide 7.75p Satellite broadband services consolidator Satellite Solutions Worldwide (SAT) has wasted little time in building up its market share via acquisitions. European governments are encouraging people in areas not fully covered by existing infrastructure to take up satellite broadband. Satellite is the only way that the EU can fulfil its broadband access commitment and it provides subsidies for customers. Satellite Solutions is benefiting from this policy and it is already the largest supplier in the EU. The potential market is more than 19 million homes across Europe with internet connections that have speeds below 2Mbps. Satellite Solutions purchases bandwidth from satellite operators and sells it on to customers on multi-year contracts generating revenues of around £40/month. Earlier this year, Satellite Solutions secured £12 million of funding from the Business Growth Fund (BGF) and raised £12.1 million at 6p a share to finance recent acquisitions, which included an Australian business. BGF's funding includes £2.4 million of notes convertible at 9p a share and an option to take an 18% stake in Satellite Solutions at 7.5p a share. The acquisition in Australia was a surprise, but customers are growing at a rate of 1,000 a month. The company is on course to exceed its target of 100,000 customers by the end of November 2017. Satellite Solutions says that the 2015-16 figures are ahead of expectations. Figures for the year to November 2017 are more significant, though, because there will be full contributions from all the acquisitions. Former house broker Arden forecasts a 2016-17 profit of £3.4 million, which would put the shares on 13 times prospective earnings. There is scope for that forecast to be upgraded and there are likely to be further acquisitions any way. |
Posted at 22/3/2016 08:12 by matis0906 INVESTOR CHRONICLE ARTICLE FOR THOSE WHO HAVE NOT SEEN IT:Blue sky tech play [cid:75BD155D-B949-4 As anyone who lives in a rural area of the country will be all too aware, internet connection speeds can be painfully slow. In fact, there are no fewer than 2.2m households in the UK which suffer from inadequate broadband speeds - defined by the government’s as below its indicated minimum acceptable speeds of 10Mbps - according to the most recent British Infrastructure Group’s report. Small and medium sized businesses operating in these areas are impacted too. Moreover, this is not just a UK-centric problem, as industry estimates suggest 22m of the 216m households across Europe suffer from dire broadband speeds. The UK government is trying to address this issue. As part of its Broadband Delivery UK intervention (BDUK) programme the plan is to deliver superfast broadband to 90 per cent of the population by the end of this year, rising to 95 per cent by the end of 2017. Currently, 78 per cent of households have a broadband connection, up from 65 per cent five years ago. The problem being that even if this target is reached it doesn’t mean all households will be able to access superfast coverage (deemed to be 24Mbps capability). That’s because some premises are simply located too far from the cabinet that provides access to high download speeds, so are still reliant on far slower coverage. Technology analyst Michael Armitage at a broking house Arden Partners believes that even if 80 per cent of premises get superfast speeds by the year-end, in rural areas where line lengths are inevitably longer than the national average, the figure “will often be as low as 50 per cent”. He has a point as there are swathes of the country labouring under sub-1Mbps download speeds, a situation that has largely remained unchanged in the past five years even though average broadband speeds have soared fivefold to in excess of 30Mbps in the same period. Blue sky thinking The obvious solution to this problem is to look to do some blue sky thinking, quite literally, and look to a satellite internet service provider to provide an alternative high speed broadband service. However, the typical £300 to £400 upfront cost of the equipment required to access satellite broadband can be a deterrent. That’s one reason why the government announced at the tail end of last year a scheme to defray the entire cost of equipment purchase. It’s very good news for satellite providers, and for Satellite Solutions Worldwide<<a href='http://markets My attention was sparked when SSW announced in mid-January a contract award with BT<<a href='http://markets The company is also involved in a similar scheme in Wales organised by the Welsh Government, where a variety of satellite tariffs are available and where any user that opts for its 30 Mbps service can claim subsidies of up to £800 to cover the cost of the equipment, installation and connection. The Welsh Government estimates that up to 42,000 homes and businesses may qualify for the subsidy across Wales. These initiatives could prove a game changer for the company as they remove the hefty barrier-to-entry cost for customers on the acquisition of the kit, while also increasing the addressable market in the UK. And Europasat’s ‘entry level’ tariff, S3 Promo, is pretty competitive for potential customers in remote rural premises: offering 20Mbps download, 2Mbps upload, with a 3GB data cap, but with unlimited off-peak downloads, the service costs a modest £28.98 per month with VoIP included. This compares with the BT standard monthly tariff of £30.49 for a package offering up to 17Mbps, including line rental and anytime calls. So for people struggling with sub-2Mbps speeds from BT, the satellite alternative is attractive both on cost grounds and availability. It can also be used as a backup to natural disaster or for corporate continuity planning, and has advantages for expats and second home owners who need to ‘port’ their broadband. SSW buys capacity from the three commercial communications satellite owners with a European footprint – Eutelsat, SES Astra, and Avanti Communications<&l Addressable market New customers are generally acquired by SSW through direct channels – telesales and via the website – and also through the 300 satellite service resellers who operate in Europe which share the margin. The company has also been acquiring distributors whose customers are then migrated onto its Europasat platform. SSW has been pretty active on the acquisition front, having made seven acquisitions of resellers since the shares listed including the purchase of two companies in France last year: Sat2Way SARL, one of the largest and most respected providers of satellite broadband, and Vertical Connect. These deals brought in over 9,000 customers at an average cost of £165 each. This means that SSW now has over 10,000 customers in France, making it the second largest satellite broadband provider, so is well positioned to target an addressable market of one million homes with broadband speeds of less than 2Mbps, or 3 per cent of the total market. It’s worth noting that the French government is also incentivising the roll-out of satellite broadband by offering subsidies across many areas via its "subvention" scheme with a stated commitment to enable 150,000 broadband subscribers on satellite by the end of 2018. SSW has signed agreements with 44 out of the 54 regional departments in France to sell its satellite broadband under the French government’s incentive scheme. Co-founder and chief executive Andrew Walwyn also sees opportunities in Poland. About 35 per cent of the 5m homes in Poland have broadband speeds below 2Mbps, so having acquired the customers of two providers of satellite broadband services at the end of last year SSW is well placed in this market. It’s also well positioned to exploit opportunities in Scandinavia as the largest operator in Denmark. SSW at an inflexion point Having built up scale, the business should turn profitable this year. Without factoring in any more acquisitions, but reflecting the full benefit of the seven made since May 2015, Arden Partners expects SSW to grow revenues from £7.4m to £13.5m in the 12 months to end November 2016 to produce operating profits of £300,000. This factors organic growth of 20 per cent in the current customer base of 25,600, a sensible prediction considering SSW generated underlying growth of 25 per cent last financial year. It’s the potential to scale the business by acquisition, combined with ongoing growth in the existing client base that really excites me. In fact, the target is to grow the customer base to 100,000 by the end of 2017, implying the acquisition of around 64,000 customers over the next 21 months at a cost of £20m based on a subscriber acquisition cost of £300. The profit implications of this growth could be huge. Factoring in average revenue per user (ARPU) of £30 per month, a conservative assumption given that SSW currently earns £41 per month albeit it does acknowledge lower ARPU earned in Europe, and a reseller margin of 30 per cent when these clients are ported onto Europasat’s platform, then each 10,000 of new client acquisitions adds around £1m to SSW’s cash profits. Of course there is a £300 to £400 client acquisition cost – assuming new customers don’t benefit from the aforementioned government subsidies – to take into consideration too. This implies an annual interest charge of around £350,000 needs to be deducted from the £1m cash profits if all these acquisition costs are debt funded. Still, the implication is that if SSW can achieve its 100,000 customer base by the end of 2017 then it could be generating cash profits of £7m over and above Arden’s current forecast. Mr Armitage at the broker currently predicts that excluding further customer acquisitions, the current client base should be able to produce revenues of £15.6m in the 12 months to end November 2017 to generate pre-tax profits of £1.4m and EPS of 0.47p. In other words, the shares are only trading on 11 times next year’s likely earnings, but forecasts look heavily skewed to the upside given the ambition of the board to grow the business both organically and by acquiring more European satellite service resellers. And SSW has the infrastructure to act as a consolidator in a fragmented market, having invested about £1m in a scalable customer servicing platform, Aurora, with the capacity to handle 100,000 customers, four times the current size. Importantly, the returns from this acquisition strategy exceed SSW’s cost of capital by quite some margin. Assuming a 20 per cent churn rate, implying a five-year customer life, then Arden calculate this will generate a 23 per cent gross internal rate of return on each £300 acquisition cost (assuming a 30 per cent reseller gross margin and ARPU of £30). This means that by using financing to fund the next stage of acquisitions, rather than SSW’s modestly-rated paper, it will be significantly earnings enhancing. Net cash was £1.7m at the end of November which will easily cover SSW’s working capital requirements this year without recourse to additional funding. But to finance further acquisitions, I understand that SSW is looking to tap alternative sources of funding including invoice discounting, trade finance, and even funding from the European Investment Bank and other national lending institutions. So this is a company offering the compelling mix of a rapidly expanding customer base, rising margins, a move to profitability, and a likely stream of positive news flow on earnings accretive acquisitions. There is a lot to like. Target price Of course, investors are cottoning on to the opportunity which is why SSW shares rose 50 per cent to 6.67p in the weeks after the BT contract win. They have also had the opportunity to assess prospects following last week’s upbeat trading update which highlighted a growing recurring revenue base, and a strong pipeline of acquisition targets, subject to funding. Bearing this in mind, SSW’s management team is experienced. Non-executive chairman Michael Tobin was formerly chief executive of FTSE 250 data storage group Telecity prior to its takeover; Mr Walwyn previously handled the disposal of Tiny Computer’s internet service provider business to Tiscali and the sale of the company to Time Computers; and finance director Frank Waters played a major role (alongside Mr Walwyn) in the £42m sale of a mobile phone retailer to what is now Telefonica. The board have skin in the game too: Mr Walwyn owns 15.8 per cent of the share capital, and chief technical officer Simon Clifton has a 10.2 per cent stake. The free float is around 47 per cent. Needless to say, I am positive on the investment case and feel SSW’s shares are now worth buying on a bid-offer spread of 5.25p to 5.5p, valuing the equity at £16.9m, and offering significant upside to my 12-month target price range of 9p to 10p. Please note that if the spread widens ask your broker to deal directly with market makers for a better quote as past trades indicate a 0.25p spread or less is the norm. |
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