Anexo Share Discussion Threads

[tomtrudgian] 30/3/2023 17:08

I asked, but quite properly, I was refused any further details.

[ggrantsu] 30/3/2023 12:34

reliable source you are hearing that from Tom? I just don't understand how more people can't be following this story with the VK emissions case very much live.

be interesting to know what sort of feedback you have heard...

[tomtrudgian] 28/3/2023 11:56

I agree. Have been informed that the forthcoming trading update on 4th April will be very upbeat.

[ggrantsu] 07/3/2023 11:45

Has to be one of the most undervalued ops on the market - 25mm in cash coming from VW, housing division growing exponentially...and a raft of other car manufacturers they can pursue. It's being completely missed.

[p1nkfish] 07/3/2023 11:03

Can't been very long now before this moves.
My guesstimate is 2-3 weeks.
And idea when VW news will land?

[rivaldo] 07/2/2023 09:27

I agree - market expectations are normally guided conservatively. Most people these days know that "management expectations" quoted in RNSs are essentially code for consensus expectations, but it's good to see more and more companies actually starting to quote those consensus forecasts in RNSs.

[p1nkfish] 07/2/2023 08:45

I work on the basis that management expectations are internal and what they feed to market is lower, external. May be market expectations, less exciting, but they should say market expectations.

In my day internal management targets were in excess of market. Market expectations being managed to try to avoid disappointments. They can always upgrade market expectations if they exceed but a pain to disappoint.

Wording matters imho.

[rivaldo] 07/2/2023 08:28

The 18.5p EPS for last year is the consensus of Arden's and Progressive's forecasts.

Which are so similar that one has to assume they've been "guided" by management as regards their own expectations.

[p1nkfish] 07/2/2023 07:46

Is that management or market expectation?

[rivaldo] 07/2/2023 07:22

Yep, glad to see confirmation that trading for 2022 was nicely in line with expectations.

That equates to consensus 18.5p EPS - a historic P/E of just 6.2.

[p1nkfish] 07/2/2023 07:13

Brief?
Shortest I've seen in a while.

Hope management expectations are in excess of market expectations - they should be.

[rimau1] 07/2/2023 07:10

A pleasing albeit brief “trading in line”update.

[serapuff] 30/1/2023 02:32

Yes ok I get it now, thank you.

[boozey] 27/1/2023 22:42

We should get a trading statement next week...

[carcosa] 27/1/2023 21:36

Cash collection is the achilles heel of Anexo because there is a very large time in collecting cash due to the nature of the business i.e. have to wait for months before court decisions are made or Insurance companies pay out. Look at the debtor days.

However receivables have probably peaked. Anexo can can only report higher profits by putting more vehicles on the road, but to grow, the group has to invest in working capital. Anexo have been tuning the business business down a bit to run it flat that will translate into cash/FCF profits and entering into new quicker turnaround markets ie housing disrepair.

[serapuff] 27/1/2023 14:57

Does anyone know why the trades receivables continued to grow ($188 to $209), even though the cash collections (67.9) and revenue (68.6) are around the same?

Thanks!
Gideon

[carcosa] 20/1/2023 05:52

Well, am still keeping an eye on the court circulars and so far nothing has been announced wrt when the English Court proceedings will actually commence. Rather than speculate any further as to why at least I see things have moved along in Scotland recently with £11.9m being paid out in relation to 7800 claimants (£1525/case).

"In Volkswagen’s view, the legal costs of litigating this case to trial in Scotland, and then in relation to any further appeals by either party, were such that settlement was the most prudent course of action commercially.

[jaws6] 11/1/2023 11:05

any idea when VW case is due please ? MANO was talking soon last time .thanks

[rivaldo] 11/1/2023 08:43

Cheers rimau1 - here's the link:



I'd have thought DBay would be back here with another bid at some point - perhaps just before the VW case is thought to be coming to a conclusion would be the ideal time for them.

[carcosa] 11/1/2023 04:13

You left out the beginning of that section... "Something has to give at Anexo..."

Am surprised we have not heard anything about the VW English Court case yet.

[rimau1] 10/1/2023 21:05

Anexo highlighted by Simon Thompson as one of four takeover targets in 2023. “Anexo, a provider of a litigation claims process focused on the recovery of credit hire and repair costs for the impecunious non-fault motorist involved in a road traffic accident. The £121mn market capitalisation company is rated on less than four times Panmure Gordon’s 2023 cash profit estimate to enterprise valuation even though it could earn a bumper pre-tax profit of £20mn-£25mn (after litigation funding and marketing costs) on its emissions scandal action against VW (on behalf of 13,000 claimants). A few months ago, chairman and 17 per cent shareholder Alan Sellers was a buyer at 127p a share”

[gusrezo] 29/12/2022 12:16

Ince is the owner of Arden Partners, Anexo's joint broker
hxxps://www.theincegroup.com/investors/company-information/?origin=Investors%20Home
hxxps://www.anexo-group.com/content/investors/advisers

[rivaldo] 29/12/2022 09:46

The year end update is due around the third week of January going by recent history, so not long to wait. It should be good judging by the outlook in the interims.

Interesting to see ANX's bosses investing substantially earlier this month in INCE on their own behalf:



INCE only has an £11m m/cap now. Don't know much about it, but it looks like it's been a complete disaster and their shares are soon to be suspended! Can't see it being an acquisition target for ANX, but perhaps there's room for co-operation/partnership.