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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Anexo Group Plc | ANX | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.50 | -0.76% | 65.50 | 13:01:55 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 65.00 | 65.00 | 66.00 | 66.00 |
| Industry Sector |
|---|
| SUPPORT SERVICES |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 10/05/2023 | Final | GBP | 0.015 | 25/05/2023 | 26/05/2023 | 23/06/2023 |
| 11/05/2022 | Final | GBP | 0.01 | 19/05/2022 | 20/05/2022 | 24/06/2022 |
| 13/09/2021 | Interim | GBP | 0.005 | 23/09/2021 | 24/09/2021 | 22/10/2021 |
| 27/04/2021 | Final | GBP | 0.01 | 24/06/2021 | 25/06/2021 | 20/07/2021 |
| 13/08/2020 | Interim | GBP | 0.005 | 27/08/2020 | 28/08/2020 | 23/09/2020 |
| 29/06/2020 | Final | GBP | 0.005 | 30/07/2020 | 31/07/2020 | 21/08/2020 |
| 10/09/2019 | Interim | GBP | 0.01 | 19/09/2019 | 20/09/2019 | 23/10/2019 |
| 12/09/2018 | Final | GBP | 0.015 | 20/06/2019 | 21/06/2019 | 28/06/2019 |
| Top Posts |
|---|
Posted at 20/2/2024 08:21 by ohisay Zeus Capital today... Valuation: Anexo trades on an FY24E EV/EBITDA (inc. lease liabilities) of 3.2x and a P/E of 3.8x with a prospective dividend yield of 2.6% based on a conservative c.10% payout ratio of adj. EPS. Our forecasts do not assume any benefit from the ongoing Emissions Claims, despite Mercedes having already paid-out in the United States. Agreement in Group Litigation Action currently ongoing would result in additional material cash inflows in 2024/2025. |
Posted at 06/9/2023 08:55 by p1nkfish There might be more hope here if they investigate new tool sets to increase productivity. Still like the look of SAPIENS and earnings due 1st Nov. Looks a better bet imho. could be waiting a while for ANX to turn the corner and attract more money flow. Who knows? Does look a bit too flat post those results. |
Posted at 04/9/2023 13:25 by trendz1 Astonished that ANX is valued on a current and forward p/e of 4 and less than half NAV. A mere 50% rerate (to a P/e of 6 and 75% of NAV would leave a share price of 95p. I struggle to see any justification for such a low valuation, with the debt under control. The market is essentially writing off half of the company’s receivables, which is not warranted. Must stay patient I suppose but it is frustrating… |
Posted at 23/8/2023 07:26 by rivaldo Zeus have released a new 23 page note this morning. They don't have a price target, but summarise with share upside of >100%:"Valuation: Anexo trades on an FY23E EV/Sales of 1.0x, an EV/EBITDA (inc. lease liabilities) of 3.4x and a P/E of 4.2x with a prospective dividend yield of 2.4% based on a conservative c.10% payout ratio of adj. EPS. Relative peer multiples imply share price upside of >100%. Our forecasts do not assume any benefit from the Mercedes Benz Emissions Claim, despite the manufacturer having already paid-out in the United States. An agreement in the Group Litigation Action currently in process would result in additional material cash inflows in 2024." They also state: "On an EV/EBITDA basis, comparable peers suggest Anexo should trade at least double its current 3.4x multiple. Assuming Anexo traded in line with the average of the UK legal services sector FY23 P/E of 9.5x would imply a share price of 149.4p, upside of 125% versus the current price. Removing Keystone Law, which trades at a premium to the wider sector, would still imply a PE of 7.3x, or 175% upside to current levels. Our forecasts do not include any benefit from a potential agreement in the ongoing Mercedes Benz Emissions Claim, despite the manufacturer having already paid -out to consumers in the United States. Anexo is representing 12,000 claimants in the Group action,. The Group also sees scope for further action against at least six other major manufacturers over time." |
Posted at 22/8/2023 18:12 by p1nkfish STB will have received some cash and helped de-risk exposure to ANX. I hold STB too and was a lovely partial bounce back but should have further to go all being well. |
Posted at 22/8/2023 08:42 by rivaldo Looks like one of my bottom of the table stocks is making a strong push up the table....Excellent interims today, with a huge reduction in debt even excluding the VW case winnings. Housing cases are growing fast (48% year on year) and should therefore continue to improve cash flows. There's a definitive statement that further growth won't be needed to be funded from debt. And with 8.6p EPS in H1 alone there's great confidence that forecasts for the year will be met. At these depressed levels ANX would seem to offer minimal downside and potentially large - and quick - upside. With DBAY in the background holding 28.51%, perhaps this is the time for them to raise to 29.99% and/or come back in with another bid. |
Posted at 22/8/2023 08:11 by tole https://www.thebusin |
Posted at 14/8/2023 21:08 by trendz1 Hi all,Looking at the accounts, my best estimate for the interims is: 1. H1 profit after tax - £14.2m (circa £7m from core business and £7.2m from the VW settlement (as announced) 2. Full year profit after tax guidance - £24 (ANX is usually H2 weighted) 3. Debt reduction of circa £10m to £63m 4. Low single digit revenue growth 5. FY 24 profit maybe £18-25m? plus likely emissions settlement? Wit the continued strategy of cash generation from the huge receivables and debt repayment, I would hope that the market will at least provide a 2023 p/e of at least 5-6. This would mean a roughly £120 to £145m. Current market cap of £73m. Could potentially be looking at 100% gain in short order. Of course, all my own thoughts. Bon chance |
Posted at 03/7/2023 15:06 by rivaldo FYI a nice write-up on ANX (poor use of "it's apostrophes!):Conclusion: "Nevertheless, the group has grown it’s EPS at a rate of +9.2% over the past 5 years and has a current dividend yield of +2.3%. These may seem like low figures, but the group trades at an LTM P/E of just 3.3x, and when including net debt in the equation, a P/E of 7.6x. Analyst estimates have them pegged to grow their cash flow substantially faster than their earnings over the coming 3 years and grow EBITDA at a rate of ~12% p.a. This could result in deleveraging into reasonably high interest rates, leading to an increased pace of growth below the EBITDA line due to declining interest expenses. Anexo is an interesting business model, but seems to be playing around with it’s status as a going concern, which gives context into it’s optically cheap valuation. There is a fair amount of solvency risk in play here, but should they effectively improve working capital and deleverage, the investment case seems to be quite strong." |
Posted at 01/6/2023 12:22 by moathunter BTW I bought ANX at £96m/ 81p.There appears too many positive uncertainty outcomes: - halt growing--> cash flow generative, court backlogs improving gradually, proven barriered competitive advantage over many years, taken private at a premium (tight float = nice share price falls), op margin reverts up from 23% to 30% pre-Covid (fewer rivals too), expansion in UK (credit hire in only 30% of UK), VW claim, slum housing growth and motrocycles too. Whilst the risk probability x payoff outcome looks low: non-cyclical and largely recession immune, interest-bearing covenant debt is low, risk of on-fault claims law being altered to their detriment/ ANX highly focussed in one product line, self-driving cars from 2035 reducing claims and cash flows, % of claims not settled in time and lapsing risk, nil cash flow however high director and PE ownership mitigating this and halting growth. |
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