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Share Name Share Symbol Market Type Share ISIN Share Description
Airea Plc LSE:AIEA London Ordinary Share GB0008123027 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 27.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
25.00 30.00 27.50 27.50 27.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Household Goods & Home Construction 15.87 1.29 12
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 27.50 GBX

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Date Time Title Posts
18/5/202208:50Aeria PLC813

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DateSubject
04/7/2022
09:20
Airea Daily Update: Airea Plc is listed in the Household Goods & Home Construction sector of the London Stock Exchange with ticker AIEA. The last closing price for Airea was 27.50p.
Airea Plc has a 4 week average price of 27.50p and a 12 week average price of 25.50p.
The 1 year high share price is 35p while the 1 year low share price is currently 24.50p.
There are currently 43,254,353 shares in issue and the average daily traded volume is 10,927 shares. The market capitalisation of Airea Plc is £11,894,947.08.
28/3/2022
19:22
bda3490: Airea are late! Mid March results Surely they have to announce this week under the max 90 day rule And price dropping like a brick Don’t want to say I wish they’d sold out to the only bidder in the last 10 years but…..
18/3/2022
17:52
cwa1: 18 March 2022 AIREA 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.
10/9/2021
18:53
dolittle1: Rhomboid is no longer with us in AIEA (still alive and kicking though)
07/9/2021
10:09
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
07/9/2021
08:38
trigger blade: I agree bda3490, the companies are not comparable. It would make more sense to do a comparison with other manufacturers, VCP for example who reported final results recently and JHD who are about to do so. I’m not in VCP, but at a glance, their share price has quintupled in the last 18 months, they must be doing something right!
02/9/2021
15:40
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
04/8/2021
12:17
3800: I think the difference between AIEA and james halstead is the management. I sold all my shares there when a director got the company to buy back his at the top of the market. I certainly didn't get no where near the price he did but was just glad to be out.
04/8/2021
08:42
illiswilgig: Interesting to read the James Halstead (JHD) Trading Statement this morning - with lots of read across from the recent AIEA statement? 'In the UK, the availability of basic raw materials has continued to threaten smooth production' 'It is apparent that the entire market has faced production issues and several of our competitors have had to suspend production due to material shortages. To date, we have not curtailed output and we believe this has helped us gain market share' though its not all bad 'our commercial flooring offerings (particularly in luxury vinyl tile) were used increasingly and significantly in domestic settings.' 'big increase in online retailing of flooring where, again, our strong brands aided growth. Both factors contributed to our expansion in the domestic UK flooring market, where demand increased not just because of rising consumer spending on the home but also with the move to home/garden offices and home gyms' ' and Halsteads expected results are in stark contrast with expectations at Airea? 'the Company expects to report both turnover and pre-tax profit at record levels for the period.' It seems that Airea is experiencing many of the same problems but without, as yet, seeing any of the benefits? cheers
30/7/2021
11:32
illiswilgig: Ouch! Bit of a shock at first glance. Probably the most depressing, downbeat and glass-half-empty commentary that I have recently had the pleasure of reading. Irrational exuberance it is not. Then I realised that I don't have my Yorkshire (Trouble t'Mill) filter on and a quick look back reveals that the chairman is not given to bouts of euphoria. There is never a lot of information at the interims - so not much to go on. After a short lie down I checked my estimates and the sales figure is clearly disappointing, slightly up on the prior year and essentially flat on the previous 6 months. Unfortunate that the +18.5% increase in UK sales is obscured by the 35% fall in exports, primarily to Europe. I am suprised to find that the operating profit and eps are above my expectations 1.14p vs my pencilled in 0.8p eps. Though it appears that operating margin has declined slightly from H2 - but not by much and the big question is clearly how much further will this fall under material cost inflaction and flat or even declining pricing environment. I rather suspect that some of the downbeat commentary is aimed at supporting the decision to pass on an interim dividend, no doubt to the disappointment of many long term shareholders. The hope is clearly that the £1.2m spent on new machinery improves efficiency and the new design launches give them some ability to pass on price increases. All the same I can see a tough few momths ahead so I've reduced my estimates on H2 to similar operating profit and eps to H1 as an increase in turnover is balanced out by falling margin. Hopefully that will prove to be conservative - and pricing pressures will abate in a few months, but I have my doubts. I was impressed by the cash generation and the sudden invisibility of the pension deficit and resulting increase in NAV. Intriguing? In the meantime there is not much to do other than lie down and attempt to ignore the share price gyrations for the next 6 months or so..... cheers
24/6/2021
12:49
illiswilgig: Chrisdgb, thats a very pertinent question. A lot of businesses are now facing supply pressures caused by manufacturing difficulties during the pandemic and also by logistics issues all of which probably cause input price rises. It seems that timber is a commodity particularly affected as economies in the west open up but supply chains into the developing world are still affected. Construction timber and cardboard for on-line deliveries being particularly pinch points. Anyone with eposure to pulpwood prices is probably suffering very high input price rises at the moment. Though some can prosper from this James Latham noted in its results this morning that its margins are rising because of this. But they are not in the discount sector of the timber market? I don't think that Aeria is particularly exposed to timber/paper problems their main inputs are likely nylon/polyester and wool? But they will be exposed to the logistics problems and prices. So some impact is likely, though I also expect they are have supply arrangements in place to mitigate this and have some ability to pass on cost increases through price rises given they are not at the bottom of the market? Many shares appear to have full recovery already priced in. Not Airea. Unfortunately a lot of patience required here. Hopefully it will be rewarded. cheers
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