Ashtead Share Discussion Threads

[fenners66] 03/9/2024 06:52

External Borrowings

31-7-24 $8,008m 31-7-23 $7194m so that is up $814m over the year and and it comes at 5.8% + associated costs ....
in other words $47m extra interest annually on the addition in one year.

[suetballs] 03/9/2024 06:45

So we’re looking at a nice retrace this am.

[fenners66] 03/9/2024 06:35

"As expected, lower used equipment sales and a higher increase in depreciation and interest costs, resulted in adjusted profit before taxation of $573m (2023: $615m)."


Well I kept quiet about this at the time of the finals - but no more !

EPS DOWN 10%

Remember the debate over how all the buybacks were going to create higher future EPS ?
Well they have not !

You may notice the capital allocation note - no longer mentions in its ranking buybacks - they are relegated to an also ran and quite right.

The Interest cost in the quarter is $144m up about $25m - an analysis of the cash spent over the last several years on buybacks would show a high proportion of that "expected" interest is as a result.

Then they blame depreciation and interest costs for the decline in performance !

We know that if you buy much more plant then the depreciation is going to rise - that's like Tesco saying that they have spent more money on groceries to increase sales !
But the real variable is the interest cost and that winds me up no end !

Wait for the future dividend annoucements saying little or no change.
I said it all along buybacks support institutions who sell the shares because of redemptions or rotations and they need a buyer of last resort. They have nothing to do with a return to shareholders , when the shareholder remains so. The real return for the actual shareholder is an increasing dividend and I see that in this regard AHT is now failing after many years.

As far as voting a massive pay rise for our CEO ?
Needs to deliver far more for shareholders before he gets a sniff. Have to say its looking like a bunch of greedy
inadequate yanks.

Buying a business in the Bahamas was a bigger clue than I hoped !

[disc0dave46] 02/9/2024 10:40

Try this:Https://www.ashtead-group.com/investors/financial-calendar/

[bracke] 02/9/2024 10:10

Below is a link to the AHT Financial Calendar.

03 September - Quarter 1 Results.

04 September - 2024 Annual General Meeting.

To open the file below copy it and enter into the address bar.


file:///D:/Downloads/Ashtead-ARA2024-Financial-calendar.pdf

[mjcferguson] 02/9/2024 09:21

Times reports that results for first half are to be reported tomorrow.That would be a bit of a surprise!

[fenners66] 31/8/2024 12:09

But after all of the bolt on acquisitions and new sites etc this bigger business is going to have more new equipment needs year on year.

[disc0dave46] 31/8/2024 10:14

Mr b

“BUT there was additional Capex. It's part of the business.”

Sure is, but my point was Capex increased 26% (edit: sorry it was +13% not +26%, looked at wrong number) which I don’t think I’ve seen such an increase previously (may be wrong just struck me as significant).

[palwing32] 31/8/2024 08:06

Can someone let me know on Wednesday if I can take my head out of the sand yet? GLA.

[bracke] 30/8/2024 18:34

disc0

"Look at how much FCF would have been without the additional £900m Capex."
==========================================================================

BUT there was additional Capex. It's part of the business.


I'll stick to the 'coal face'....the chart.


We await Tuesday with interest/anticipation/concern/happiness/exuberance...choose what suits.

[disc0dave46] 30/8/2024 15:48

"The Group generated free cash flow of $216m (2023: $531m) during the year, which is after increased capital expenditure payments of $4,445m (2023: $3,530m). As expected, this combined with continued investment in bolt-ons and returns to shareholders increased debt during the year. We spent $78m (£62m) on share buybacks (2023: $264m (£221m))."Look at how much FCF would have been without the additional £900m Capex.

[disc0dave46] 30/8/2024 14:36

Mr b"I was a little surprised at the ?8.53 Billion debt level. It seems a little on the 'chunky' side."Why the surprise?, their finals in June stated it was $8bn. It's 1.7x EBITDA so within their target range. It was 1.6x in 2023, 1.5x in 2022, 1.4x in 2021, 1.9x in 2020, 1.8x in 2019.So over the past 3 years or so it has crept up (in relation to EBITDA) but still not as high as pre covid and guess the cost of debt due to interest rates post covid has played its part in the increased ratio.

[bracke] 30/8/2024 14:12

disc0

I was a little surprised at the £8.53 Billion debt level. It seems a little on the 'chunky' side.

[disc0dave46] 30/8/2024 13:40

Good day Mr bMy stalker has been filtered for a long time. However, it changed someone's posting to make out it was me, when it wasn't but another idiot believed it and posted it up. I stupidly defended myself and the stalker fed off that. You know the history of this very sad individual.Thanks for your pretty chart. Apprehensive about their Q1 next week, it's been sell on news for a while now, hopefully that will change?.

[bracke] 30/8/2024 11:26

Good day disco

I don't mind constructive criticism but the personal stuff is pointless It does nothing useful. Unfortunately such posts are common on these sites. So filter is the best method.

On to our 'beloved' which has today formed a slightly higher high and a gap. Might this be owing to results on Tuesday and a forthcoming US interest rate reduction?

I have been looking at the Financials which make interesting reading.

If you click on the 'E' in the square box at the bottom of the chart you may be able to access the financials. If not you would have to join TradingView which is free.

AHT DAILY

[disc0dave46] 29/8/2024 21:49

Best to just filter rather than feeding it, my mistake doing just that in trying to defend myself from its lies.Apologies to decent folks here.

[disc0dave46] 29/8/2024 21:48

My actual postings as this character even resorts to altering posts and who posted them to suit its warped agenda:disc0dave46 28 Aug '24 - 21:52 - 16154 of 161820 3 0You are obsessed with DiscoDave, you live just to stalk and accuse folks of being this Disco, you accused posters Diku and Ohoh of being "Disco", you even created your handle based on their names - Di and the ku at the start and the end, with ohoh in the middle.You aren't wired up right are you!disc0dave46 28 Aug '24 - 22:17 - 16158 of 161820 4 1Fed you enough today diohohku, no more until I feel like it.You are one very sad and deranged individual whose only goal in life is to stalk folks and harass them.

[crookes243] 29/8/2024 20:15

A bit like you . Is there a block feature like on Twitter?

[crookes243] 29/8/2024 20:06

A bit like you . Is there a block feature like on Twitter?

[diohohku] 29/8/2024 20:01

crookes243 14 posts since 2021, looks like you've not got much to say!

[crookes243] 29/8/2024 19:27

Nobody is interested in what you have to say

[crookes243] 29/8/2024 19:25

God your a boring old fart, find something useful to do

[diohohku] 29/8/2024 19:06

13 Jul 2020 - 22:44:44 - 3513 of 4036 PFG - PFG
I've been on many residential courses in my time and the best one was human psychology. Everyone has traits and you cannot disguise them as you don't know what they are. At the beginning of this month, someone replied to one of my posts and then disappeared, never to be seen again. Then this guy started to post and I knew straight away it was the same person, using a different name. I wasn't bothered about that. This person has very extreme traits. Then last night they appear once again under another name. The funny thing is, I know your traits, but you don't. Whoever you are, you're suffering from Schizophrenia. You have two of the classic signs. It's up to you if you seek help, if you're suffering from any mental illness, you really do need to see a GP. Whatever name you use, I will know it's you. I wish you well. : This post is in response to discodave45 on PFG forum. I just hope you do get help.