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% 28.00 33 08:00:00
Bid Price Offer Price High Price Low Price Open Price
26.00 30.00 28.00 28.00 28.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Household Goods & Home Construction 19.26 2.61 8.21 3.4 12
Last Trade Time Trade Type Trade Size Trade Price Currency
10:07:11 O 33 26.10 GBX

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Date Time Title Posts
02/3/202115:11Aeria PLC706

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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 28p.
Airea Plc has a 4 week average price of 26p and a 12 week average price of 26p.
The 1 year high share price is 43p while the 1 year low share price is currently 19p.
There are currently 43,254,353 shares in issue and the average daily traded volume is 53,413 shares. The market capitalisation of Airea Plc is £12,111,218.84.
alter ego: 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.
arregius: This year there will not be a trading update. There apparently arent reasons to be negative here, and as per previous RNS trading might have come back to normal. Or might not. But if worsened they would have updated. I al long AIEA
our haven: You can rule out the price of wool.
3800: Trading update. The weather,coronavirus, Brexit, strength of the pound, price of wool? whats going to be the excuse this time?
bda3490: Nice to think that having sold 2.5 million at 72p last April buying back would be positive Then again 412 000 issued at nil cost in November I’d hope a key performance criteria would be share price performance
amencorner: Since posting about AIEA in November, the share price has continued to drift south. The price is now at 50% of what it was when the CEO sold all his shares to the EBT just over 6 months ago. Maybe if the CEO could make a substantial purchase that may add to investor confidence and suggest another profits warning is not on the way. Come on Mr CEO if you make a purchase then I might be tempted to follow your lead, over to you! On the other hand if you have insufficient faith to buy then I will stay out.
dangersimpson2: You obviously know this in much more detail than me John, so maybe I am missing something, but at the AGM at the beginning of May, I believe they told you that the megaloom had led to month by month sales increasing but then at the half-year to 30th June sales had declined from the previous HY due to uncertainty in the market. This combined with investment into additional SG&A led to a decline in operating margins from 16% to 12% for the HY. It seems that this uncertainty has likely continued well into H2, so what is a reasonable assumption for H2? Well, typically this is about 10% higher than H1 so if we go for this and assume it generates a 14% operating margin, (since they don't give us CoS & gross margin then this has to be an educated guess), then this would be an EBITDA for the FY of around £2.8m. The pension deficit is a real debt IMO since it is costing them real cash each year, so if we add that to the debt we get a forward EV/EBITDA of 7 @40p which reduces to 6 if you take off the investment property value from the EV. So not crazy in the current market but a lot of microcap, UK-focussed businesses that are not showing significant growth are trading around 3-4xEBITDA, so not particularly cheap either at the current price. At some point the market will start to be forward-looking for FY21, but without decent forecasts in the market, and a business that seems to struggle to predict short term demand for their products, I think it will probably require 21H1 results to show some decent growth & improved margins before this would start to look reasonable value (or a further drop in price to the c3-4x EBITDA level.) How are they going to generate this growth? Well, with megaloom 1 at around 60-70% capacity in H1 it must be around 70-80% capacity in H2, so it is down to adding megaloom 2 - which means further capex & maybe working capital. So although this should drive medium-term growth, it will draw down extra cash, hence why we have seen a recent dividend cut and it may be more prudent to reduce this further in H2. Which again removes one of the reasons to buy and hold rather than wait for the green shoots of recovery. I am aware that this is pretty illiquid though, so may struggle to get stock if the 21H1 results in August next year do show some positive trend.
amencorner: I have followed AIEA closely over the last 18 months and have at times considered taking a position. However, the tone of the August interims leaves some doubt in my mind and I half suspect we may see a Trading Update in the next couple of months warning of further “uncertainty” related delays. The other concern I have is the selling by the CEO back in April of his entire holding to the EBT at a price greater than he could have achieved in the market. If the price and prospects are so good now, then my is the CEO not buying at least some shares back? So for me, it’s a question of rebuilding of trust with the CEO and hopefully not seeing another warning of delays in customer call-off from the order book. Once I feel a touch more confident on the above, I will possibly take a position.
multibagger: I expect small bounces in share price to be met with some more offloading....this is an ill liquid share to make matters worse. Though there will be some initial buying in an attempt to create a floor/prop up the share price, possibly by large holders (who appear to have inherited large tranches of the equity, this is unlikely to be sustained. The cut in dividend will also make it more difficult for asset rich, cash poor large holders to buy a huge lot more. Once today's figures sink in and buying fatigue sets in this is on course to get back to the early 30s/late 20s sadly....which could interestingly attract some predatory takeover interest. I held a decent chunk of AIEA a few years ago and even attended an AGM - but sold out when I could not raise a meaningful stake (on my terms), as buying kept pushing up the share price beyond its financial fundamentals. This story has further to unfold/unravel....good luck all.
trigger blade: rhomboid, I wasn't looking at a chart when I said doubled in a few days, I just had a memory of it being 30p not long ago. You're clearly a long term shareholder, with an understanding of the business. My mild irritation is with instant experts like pete, who start throwing figures around with nothing to support them. I'm a small time, long term JHD shareholder and on that thread, he said the bid would need to be £1. I asked him how he'd arrived at that price and he disappeared. He's suggesting various prices on here, all currently lower than £1, as well as the ludicrous assertion that JHD need this bid to support their own share price. That's a share price that has multiplied many times in the last 30 years, as has turnover and profit. I'm constantly amazed at how JHD have become successful worldwide in a very mundane business area. The share price has dropped from its all time high, but I doubt JHD needs this bid for credibility reasons. JHD is a cautious company and I doubt they'll go all gung ho now Geoffrey Halstead's retired. Although it's a related business area, there doesn't appear on the surface to be any great synergy in terms of products and manufacturing. As a substantial buyer of raw materials, JHD might be able to squeeze some savings out of raw materials and as you said, some management cost saving too. The most obvious area of synergy is distribution, particularly overseas. JHD's distribution worldwide is strong, with a number of overseas subsidiaries against Burmatex with (I'm guessing), an Export Sales Manager, tasked with finding local distributors, whose main focus might not be on Burmatex products. Compare and contrast. The JHD website lists contact details in 77 countries. The Burmatex website says they sell in Europe, the Middle East and Far East and if you want more details, get in touch. I don't have the information, but I suspect that 30-35 years ago, JHD and AIEA (or its eventual constituent parts) were not that different in size (turnover and profit) and if JHD could transform AIEA the way it transformed its own business, that would be great for JHD shareholders and if AIEA shareholders invested the profit from a successful JHD bid, it would be great for them too! I suppose I'm assuming a cash bid, is there any possibility of a bid at least being partly in shares? I am confident that won't overpay (although I accept I don't know what that might mean). They picked the Teesside plant up for a song and I can't see them needing AIEA badly enough to get carried away with the price. We shall see. I'm going for a lie down, I haven't concentrated so much on one thing for a very long time :-)
Airea share price data is direct from the London Stock Exchange
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