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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Airea Plc | AIEA | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 31.50 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 31.50 | 31.50 | 31.50 | 31.50 | 31.50 |
| Industry Sector |
|---|
| HOUSEHOLD GOODS & HOME CONSTRUCTION |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 05/04/2023 | Final | GBP | 0.005 | 20/04/2023 | 21/04/2023 | 18/05/2023 |
| 12/04/2022 | Final | GBP | 0.004 | 25/04/2022 | 26/04/2022 | 26/05/2022 |
| 02/08/2019 | Interim | GBP | 0.008 | 19/09/2019 | 20/09/2019 | 24/10/2019 |
| Top Posts |
|---|
Posted at 28/3/2024 10:52 by tiswas Well I sold out today. Buying on the crazy dips got me out with a decent profit having been down materially at one time.NAV now circa 36p, pension deficit needs addressing, no meaningful dividend, potential teething problems with new investment,no forecasts out there. So no idea how to value it now, just knew it was cheap at just over 20p. No doubt it will double now or be taken over at a major premium! |
Posted at 27/7/2023 09:27 by arthur_lame_stocks Today's results seem ok but can anyone understand what the outlook statement is saying? All I can guess is that if they're not paying a dividend they're reasonably cautious but then I don't think they ever do pay an interim dividend. |
Posted at 12/1/2023 11:41 by empoggio Irene: we already getting a dividend |
Posted at 11/1/2023 11:03 by irenekent Been here for years-maybe we will get a dividend. |
Posted at 28/7/2022 15:10 by illiswilgig Investment Property.Yes, this has intrigued me for quite a while - I've never got to the bottom of it. Today I've made more progress than before - but ended up with more questions than answers, Like others I've assumed that the 140k (280k annually) represents income from the investment property but always felt I didn't understand it. It certainly didn't seem like gross rental income but there are lots of possible explanations. So I've tried another way round. Looking at FY2021 Note 3 to the company accounts 'investments' I noticed Fope Ltd - property holding co. Searching at Companies House I can see all of the filings for Fope Ltd which is indeed a wholly owned immediate subsitiary of Aeria plc. That's when things start to get a bit woolier. Seems that Fope ltd owns what was Mossfield Mill in Bury and now seems to be a modern industrial estate on Google. Fope Ltd revenue in 2021 was 915k and after 58k costs and revaluation gain of 370k and after tax of 96k it made a profit of £1311k. But none of these figures appear to reconcile to anything in the consolidated or company statements of account. It appears that Fope ltd made a dividend payment to Aeria plc during the year of £850k from retained earnings as it did in FY20. So it appears that the dividend from Fope ltd is consolidated into the group accounts? Where it disappears without a trace. Another nice problem to have is that the wholly owned investment property owned by Fope ltd is valued at £7.5m not £4m. There is no debt shown on the balance sheet (there was a charge against it but it was released some years ago and the Aeria charge against it is shown as nil in the notes to the accounbts. Again I can't reconcile this. There is another subsidiary company which may be busy making a loss every year that offsets this - I've not had time to get my head around it. And leaves me with more questions than answers, though not necessarily bad - more through lack of understanding. cheers |
Posted at 16/5/2022 20:00 by andydaf Would have liked to attend but am working.If anyone attends would be interested in any snippets.First dividend for a while towards end of the month i believe.As always GLA |
Posted at 18/3/2022 17:52 by cwa1 18 March 2022AIREA plc ('the Company' or 'the Group') Director's Leave of Absence Airea plc (LSE AIM: AIEA) announces that with immediate effect, Neil Rylance, Chief Executive Officer, will be taking a leave of absence due to ill health. The Board and all his colleagues wish Neil a swift and full recovery. In Neil's absence Ryan Thomas, the Group's Finance Director has assumed the leadership role with the full help and support of Martin Toogood (Non-Executive Chairman) and the experienced Airea Senior Leadership team. A further update will be made in due course. |
Posted at 10/9/2021 18:53 by dolittle1 Rhomboid is no longer with us in AIEA (still alive and kicking though) |
Posted at 07/9/2021 10:09 by illiswilgig Just to be clear - I did not attempt to compare Airea with Headlam.Airea (Burmatex) is a supplier to Headlam. Amongst others. Headlam is primarily a residential distributor and confirmed that its commercial market was subdued in H1 and its commercial sales (including Burmatex) were -12% relative to 2019. Airea did not give figures relative to 2019. I estimated that Airea UK sales were -6% compared with 2019. Which I found to be interesting as it appears that Airea in the UK is doing better than its market overall. Exports, unfortunately, is another story. Halstead is a £1.2bn international manufacturer and distributor of specialist flooring. Victoria is a £1.2bn very acquisitive buyer of carpet, tile, artificial grass and hardwood flooring manufactureres and distributors primarily in the UK, Europe and Australia. Airea is a £10m manufacturer of carpet tiles in the UK. Comparison appears to be limited except that Airea is most obviously the kind of company acquired by VCP or JHD. Unfortunately neither have done so. Quite the reverse. JHD walked away. Sadly I did not. I used to own VCP shares. But sold them when they doubled. Way too early. I learned my lesson and did not sell my AIEA shares when they doubled. Sadly I did not sell my AIEA shares when they 10-bagged to 75p either. Even though JHD walked away and the CEO sold all his shares to the company EBT. Same CEO who did not sell to JHD. Opportunity to learn a difficult lesson. How well I have learned remains to be seen. That was then and this is now. I can't go back or I would be much wealthier. I do still own AIEA shares, so should I hold or sell? If AIEA is outperforming the market at the moment then that gives me some confidence to continue to hold and I'd prefer to sell me holding into a rising price given how illiquid this share can be. When I do sell I doubt that I'd buy VCP shares on their current rating. It's market cap is 1.2Bn but its enterprise value is 1.7Bn (500m net debt) and its PE is 29x current year forecast profits. And its on almost 6x it's Net Asset Value. Presumably much of that is intangibles from its acquisitions as its EV/EBITDA is 16 despite it having 500m debt. By contrast AIEA has a market cap of 13m and an EV of 11.5m (net cash) is on 14x trailing twelve months earnings, 0.75x Net Asset Value its EV/EBITDA is 6.8 and its 2019 ROCE of 14 is higher than Victoria has achieved in recent years. Victoria shareprice has risen dramatically. I am not saying it won't rise further, just that its not my kind of share. Looks like I'll be holding AIEA shares for a while yet in anticipation of significant improvement - though probably not a qunintupling. But don't take my opinion for it - do your own research, cheers |
Posted at 02/9/2021 15:40 by illiswilgig H1 results for Headlam this morning. I've not read them in detail but skimmed the eseful write up of the highlights on Stockopedia.It srruck me that there might perhaps be some useful read across to whats happening with AIEA which prompted me to take another look at their H1 performance. Headlam confirms that their performance in H1 21, about the same as H1 19 levels – is primarily down to residential (carpet) outperformance +4.7%. Whereas commercial (tiles) remains subdued -12.8%. They further comment that commercial revenue has been recovering and in June21 was only -3.2% off 2019 levels. But that July and August softened but not substantially. Headlam - Mcap £440m and H1 revenue £330m - is primarily UK based (85%) distributor, not a manufacturer, and does have operations though owning businesses in other European countries. How does this read across to Airea’s recent H1 report which was typically brief and terse? Perhaps the most downbeat that I can remember. But these are not normal times, whatever normal was? Anyway I’ll try to have a look – warning this turns out to be a bit longer than I’d anticipated. Airea had 2021 H1 revenue of 7.4m (versus 7.1m H1 2020) and tells us UK sales were up 18.8% whilst exports fell 35%. Unfortunately they didn’t tell us how this relates to H1 2019 – but then they never do. I’ve tried to estimate what Airea’s UK and Export split would likely have been in 2019 and in 2021 from the splits in the notes to the annual report. In FY 2019 (2018 was very similar) UK rev was 74% and given the similarity with 2018 it seems reasonable to assume the same for H1 then UK rev was 74% of H1 8.89m or 6.62M In FY 2020 the UK % of revenue had risen to 79% but that’s not a huge shift given everything else that went on in 2020? H1 is composed of a virtually unaffected ‘good’ Q1 and a locked down Q2, so I’ll just take the same 74% for H1 2020 which gives Total Rev 7.1m UK Rev 5.25m Exp Rev 1.85m For H1 2021 we know that UK revenue increased by 18.8% over FY20 whilst exports decreased by 35% over 2020 and applying that to my estimated 2020 split gives UK Rev 6.2m Exp Rev 1.2m Total Rec 7.4m which by some contrivance appears to be the same as the H1 2021 total revenue which might offer some comfort that my figures are not too far off? What was the point of all this? Other than as therapy to cope with the effects of long-covid on my addled brain? Oh yes, now I can estimate how far Airea is from the 2019 H1 splits (assuming my estimates are reasonable) Uk Rev 6.2m (2021) 6.62m (2019) -6.3% Exp Rev 1.2m (2021) 2.27m (2019) -47.2% Airea is essentially 100% a commercial flooring manufacturer. Comparing Airea’s -6.3%(UK) on 2019 levels it actually comes out better than Headlam’s -12%? Though that is more than lost by the -47.2% fall in exports relative to 2019. What’s up with exports? In the last 6 months its become apparent that small exporters with no infrastructure in European countries have fared worse than larger companies with infrastructure and companies setup in Europe. It seems likely that some European companies have chosen not to do business with UK exporters, or to postpone decisions until the export situation and logistic problems compounded by the pandemic are largely cleared. Under these circumstances it seems reasonable to assume, as Airea have stated, that exports will only return slowly. What do I conclude? All credit to Airea for their good UK sales. Unfortunately they will need to keep growing UK sales at least as fast to make up for lost export sales. It’s not impossible. If their sales have continued to recover like Headlams commercial sales then their continued focus upon new designs and product launches should help as will the investment in new machinery. But it’s a nasty headwind to battle alongside the price rises and material shortages if export sales are not recovered. In the short term it seems unlikely that total sales will miraculously recover but in the medium term led by new product launches it seems likely that UK sales will continue to grow strongly and export sales recover. Could be a couple of years wait for that though – and there is an opportunity cost to consider stacked up against other current opportunities? So it’s a hold for me at the moment. This is not advice, just my opinion, and my figures could be wrong – so please do your own research. cheers |
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