Airea Share Discussion Threads

[mesquida] 27/7/2020 13:25

And your reasoning is ?

[arregius] 27/7/2020 09:15

I dont think this will stay this low anytime soon

[muckshifter] 15/5/2020 16:26

Thanks, gdjs100, glad I forgot it was on and didn't waste my time then!

[gdjs100] 15/5/2020 10:52

Yes, it lasted four minutes as the votes for and against were read from a script. That was it.

[muckshifter] 15/5/2020 09:45

Did anyone "attend" the AGM, as I would be interested in any update on how they are coping with the effects of the lockdown etc?

[bda3490] 06/5/2020 12:08

Bet they blame covid 19

[norbert colon] 02/5/2020 18:13

https://www.speakservecloud.com/register-for-call/ef9a1bfa-4e24-46d0-9546-56976827f9ef

[arregius] 02/5/2020 17:02

Registered for the call! ?

[mesquida] 26/3/2020 14:45

Very well written statement, and very reassuring too.

[bda3490] 17/3/2020 19:19

Turnover up Profit down But margin improved!! Nice

[arregius] 11/3/2020 12:15

As per management, margins improved

[bda3490] 10/3/2020 20:17

Who cares about hitting turnover. They overstocked for Brexit??? They supply the uk ! Then they sold it off cheaper and lower margins ..much lower. Hence hit sales expectations!!! Profit vandalism

[thegreatgeraldo] 05/3/2020 18:17

BrileyLoucan, They've issued a correction

[alter ego] 05/3/2020 12:47

I know AIEA do not directly serve the retail market but given the number of flooded premises, shops, pubs, offices etc, I wonder if they might see some extra demand in due course, for replacement flooring. Can't see contractors doing the work on behalf of insurers trotting off to Carpetright for floor coverings.

[dangersimpson2] 05/3/2020 11:56

They hit my revenue expectations but missed on profits, mainly due to a lower operating margin H2 of 10.5%. This has declined significantly over the last few halves, presumably due to competitive pressures or increased costs (we can't really know which because they don't provide a gross profit figure.) Operating profit before exceptionals in H2 slightly below H1 suggests this isn't going to be a quick turnaround. Positives are the big reduction in inventories and the reduction in pension deficit. I'd be interested to know how they have achieved the PD reduction though, they say 'group's successful investment strategy and management of liabilities' is responsible, but if it was a high percentage equity portfolio & rates going up, this isn't going to look that great after February this year! Outlook relatively positive given the recent poor H2 & global macro outlook so maybe they can actually turn the corner eventually. Anyway looks fairly valued on a P/E of 11 & and EV/EBITDA of 6-7 depending on how you account for the PD contributions. You have to believe management can actually reverse the continuous decline in margins to see any significant upside from here.

[brileyloucan] 05/3/2020 08:17

OK, found it. They've mislabelled it as deferred tax for £724m. Thats a bit of a mistake.

[brileyloucan] 05/3/2020 08:17

Hi, Can anyone explain the balance sheet to me. They borrowed £1.7m in the year and repaid £400k both of which I can see on the cashflow statement. So I should expect to see a £1.3m liability on the balance sheet, but all I can see is £562m. Wheres the rest?

[our haven] 05/3/2020 07:38

Final results out and profits down but not out. Pension scheme deficit significantly lower. The sector is going through tough trading conditions so against that backdrop the figures are reasonable. However Brexit was given as the main cause of this, which of course is rumbling on. The virus seems not to be taken into account which will again bring headwinds.This is a solid business but my guess is the market will not be happy with the results

[our haven] 12/2/2020 07:43

Thanks Arregius for your points.

[arregius] 11/2/2020 15:17

It might be indicative of good results. At least no profit warning and reads that last rns still remains where the problems were one off and back to normal?.Inventory unwind and maybe better environment.Will check how the outlook looks like, but I am comfortable as now its priced as no growth. We are profitable and div mantained. Another investor much mire knowledgeable than me told me this:"It means they are trading ok..or maybe slightly better but conditions haven't worsened & everything they said in their last RNS likely still ~standsSo no PW is my conclusion"

[our haven] 11/2/2020 14:13

I do not think that it is indicative of a bad result but of course we could still have a bad result.

[our haven] 11/2/2020 14:11

I thought that we had established that there was going to be no trading update.

[bda3490] 10/2/2020 14:21

No trading update !!! Not looking good