Anexo Share Discussion Threads

[alex_mc] 20/8/2024 13:14

Was there any detail on this on the call this morning as you’re correct- “a share” is far too vague. What's been promised is what we need to know…

[joe say] 20/8/2024 13:03

One issue I noted though was the expensive cost of borrowing;

A further £0.7 million was provided in January 2024. The terms of the loan are that interest accrues at the rate of 10% per annum. In addition to the interest charges the loan attracts a share of the proceeds generated for the Group.

Sounds like a favour to their friends if you ask me - I'm going to watch this like a hawk

[joe say] 20/8/2024 13:02

That's a by-product of growth - happens in many companies

Cases need funding up front, new hires taken on board etc etc

the cash will then flow with the successes save for any further investment in growth

[ggrantsu] 20/8/2024 12:47

still absolutely no cash generation - unfortunately that is not good enough and I'm getting a little bored of not seeing the promised elusive FCF generation.

[fillipe] 24/6/2024 08:37

ANX, very recently I came across this unattributed note on the web.

"The one analyst offering a 12 month price target expects Anexo Group PLC share price to rise to 300.00 in the next year from the last price of 67.50."

All fwiw.

f

[luweiluwei] 18/6/2024 15:34

From AGM:

Resolution 19 (Special)
To authorise the purchase by the Company of its own shares.
94,001,315
99.90% FOR

[rivaldo] 29/5/2024 14:42

Brief notes from last week's presentation at Mello:

- I hadn't realised that within Credit Hire, the split is now 90:10 in favour of motorcycles. This is much better for cash flows

- the emissipns claims against Mercedes, BMW etc are on behalf of 34,000 claimants at present, almost three times the successful claim against VW

- there are further claims ongoing re the Thirlwall enquiry and a Covid negligence action

-as regards current trading, "strong trading" within Credit Hire, an expanding Housing Disrepair team, emissions hearing scheduled for October '24 "with negotiations ongoing"

[smackeraim] 15/5/2024 13:15

I haven't seen one yet

[jamesgreenbury] 15/5/2024 10:01

Is a recording of this available?

[rivaldo] 15/5/2024 07:52

On a bit of an upward trend here - once the share price gets to 72p or so then chart-wise there's a clear run back up to 100p.

[joe say] 15/5/2024 06:19

Anything of note/interest from yesterday's call?

[smackeraim] 13/5/2024 12:01

https://x.com/sharesocuk/status/1788841404795408731?s=46ShareSoc Webinar with @AnexoPlc (#ANX) 14/5/24 4pm. Nick Dashwood Brown (Head of Investor Relations) will present a full overview of the company and give an update on current performance and future plans.

[smackeraim] 07/5/2024 17:26

After the interim results last year, Alan Sellers (exec Chair) bought 100 grand of shares at £1.27 per share. Food for thought at 65p .. half price

[smackeraim] 03/5/2024 23:04

Tipped again by Investors Chronicle.A snippet :As noted when I suggested buying the shares, at 65p, in my 2024 Bargain Share Portfolio , the reason for holding them is the potential for a narrowing of the 53 per cent share price discount to book value of £159.7mn (135p) as more investors cotton onto the debt reduction programme and the changing mix in the group's income stream. A current-year prospective price/earnings (PE) ratio of 4.2 and an enterprise valuation to operating profit multiple of 3.5 times highlight the value on offer, too. Buy.https://www.investorschronicle.co.uk/ideas/2024/05/02/this-bargain-buy-is-returning-to-profit-growth/

[smackeraim] 03/5/2024 13:11

https://x.com/anexoplc/status/1786312566924259684?s=46The @HousingOmbuds emphasises the necessity for Croydon Council to uplift its housing services, spotlighting the vital demand for higher accountability and standards in social housing. A crucial call for action.

[rivaldo] 03/5/2024 13:07

Good to see some buying making a difference now.

[rivaldo] 03/5/2024 08:11

Zeus have issued an update note today.

They forecast 14.8p EPS this year, rising to 16.4p EPS next year.

There's a 1.7p forecast dividend for both years, with net debt falling to £54.6m at the end of next year.

Here's the outlook summary, but it's the section on the significant pipeline of demand which is the most interesting:

"Outlook & forecasts: Our FY24E forecasts are unchanged, and we introduce FY25 numbers today. Our forecasts are underpinned by growth in vehicle activity, particularly towards the end of FY23, as well as the significant portfolio of claims within Legal Services.

 Valuation:

Anexo trades on an FY24E P/E of 4.3x with a prospective dividend yield of 2.7% based on a conservative c.10% payout ratio of adj. EPS. We do not include any benefit from future Emissions Case agreements, despite reflecting the associated marketing costs within our forecasts, providing upside risk to profit and cash generation in the event that agreements are reached, which we expect could be in FY25/FY26."

"Significant pipeline of demand

Credit Hire division provides an essential service to “impecunious” individuals who would be otherwise unable to fund repairs or a replacement vehicle. According to recent research published by the House of Commons Library, 11 million adults do not have a credit card (without which It is impossible to hire a car) and 16 million adults do not have the reserves to meet an unexpected bill of £300. In addition, the Money and Pensions Service has found 8 million adults are in need of
professional advice on their debts and 12 million people are “on the edge” of serious debt problems. These statistics illustrate the level of need for the services Anexo provides in our view.

We believe an increase in ‘gig-economy’ drivers, where access to a vehicle is essential, combined with the impact of the consumer crisis on individuals’ accessible funds will drive demand for Credit Hire in the near term. There are currently 7.2m gig workers of which 3.7m, or >50% are drivers, forecast to grow at 7% per annum. Rigorous screening means Anexo has a >98% success rate at trial, with most cases settled outside court.

High growth Housing Disrepair division: The Group’s Housing Disrepair division was established in FY20 following the passing of The Homes (Fitness for Human Habitation) Act 2019. An estimated 12% of social housing (480,000 homes) and 25% of private rented housing (1,150,000 homes) fail to meet the Decent Homes Standard, whilst an estimated 5% of social housing (200,000 homes) and 14% of private rented housing (644,000 homes) have hazardous levels of damp and mould growth. The HDR claims cycle is shorter (typically 7-9 months), more profitable and generates a higher return on capital vs. Credit Hire. Assuming c.25% of those eligible go on to
pursue a claim implies a total of 600,000 claims. Anexo has c.3,900 active claims at the 31 December 2023, indicating significant growth potential in this division.

Emissions litigation has potential to generate meaningful cash returns: the Group believes there is potential for further cash generative agreements through pursing additional, selective emissions litigation claims, with up to 11 million vehicles impacted in the UK. This includes the ongoing Mercedes Benz Emissions Claim, with a total of 12,000 claimants now signed up and forming part of the wider group litigation action. Mercedes Benz agreed to pay 250,000 American consumers an average of $3,290 each after a similar group claim in the United States. The UK
Mercedes Benz claim has been valued at up to £1bn by some experts. Further actions against Vauxhall, BMW/Mini, Peugeot/Citroen and Renault/Nissan is also underway with c22,000 confirmed claims."

[smackeraim] 03/5/2024 07:10

Another six companies will be announced tomorrow including #ANX Anexo who released their results today. Lots of great speakers too...Christopher Mills, Georgina Brittain, Gervais Williams & Lord Lee to name just four??Do not miss ithttps://x.com/carmensfella/status/1785598230241140801?s=46

[melloteam] 02/5/2024 12:54

Anexo will be at Mello2024 on Wednesday 22nd and Thursday 23rd May 2024, 9am-6pm at the Clayton Hotel & Conference Centre in Chiswick, London. The annual flagship in-person investor event will feature over 40 companies and keynote speakers such as Lord Lee; Christopher Mills; Georgina Brittain; Gervais Williams; Ed Croft; and many more!
Get 50% off your ticket with code MMTADVFN50

For more info:

[smackeraim] 02/5/2024 07:09

These were decent numbers. Quite surprised it's not kicked in a bit yet

[rivaldo] 01/5/2024 12:39

Agreed, looks like a positive turnaround is happening here, led by those improving cash flows.

WH Ireland forecast 15.2p EPS this year, up from 12.8p EPS, for a P/E of just 4.2, with a EV/EBITDA of only around 3.4.

They summarise:

" Continuing in invest in attractive markets

The business looks all set to grow, having invested strongly in FY23 (£4.3m in Diesel Emissions lead generation / staffing, £3.8m in Housing Disrepair marketing costs, and vehicles at peak levels in Credit Hire as discussed). The large demand pool of impecunious motorists and motor-cyclists involved in no-fault accidents continues to be tapped. Housing issues on both sides of the private / rented divide
remain a major issue. We view secured claims of 12,000 (Mercedes Benz) and 22,000 (others) as offering a very substantial future reward to this company.

• Forecasts:

Following inline results this morning, we leave our FY2024E unchanged, assuming
a continuation of high levels of activity in the credit hire business and a positive impact from growth in headcount in the Legal Services division. Introducing FY2025E forecasts, we see potential for ANX to deliver further growth whilst at the same time achieving a reduction in net debt as cash collections improve. Crucially, we note our forecasts include vehicle emissions marketing costs as expensed, excluding the significant upside this promises."

[ggrantsu] 01/5/2024 08:24

surprised at muted reaction today...first set of results where a decent level of FCF has been generated (even exc. emissions it looks like FCF was created).

maybe get a boost post presentation?

[davidosh] 20/4/2024 01:17

If you want to attend a physical presentation Anexo will be presenting at Mello2024 next month along with 40+ other companies. They are there on the first day and have a stand if you want to speak to them