Ashtead Technology Share Discussion Threads

[tudes100] 16/4/2024 07:34

Given ACE did 35m rev's & 11m operating profit in 2023 the FY24 forecasts currently in the market look pretty light given organic growth for the FY was +35%. I can understand the sell off given the run up of the last 6 mths but it just looks to me like management are being prudent this early in the new FY.

[tomg23] 16/4/2024 07:30

Likewise. Just added a few

[johnrxx99] 16/4/2024 07:29

Oh, and never catch a falling knife.

[sogoesit] 16/4/2024 07:27

Yep, also guidance difficult to fathom... quote:

"The Board is encouraged by the Group's performance in Q1 2024 and our full year 2024 expectation remains unchanged."

If ACE had been a full year Revenue would have been £149m too.
(CFO :"If ACE Winches had been acquired on 1 January 2023 rather than 30 November 2023, full year revenue would have been £149.6m."). That's a 50% uplift on £110m, right there.

[johnrxx99] 16/4/2024 07:26

BBD, they were not in line, doh!

[johnrxx99] 16/4/2024 07:25

Everyone is using adjusted figures but the ones that count are statutory, I what actually happened.

[slogsweep] 16/4/2024 07:20

No still a good company just results a bit difficult to interpret quickly, some think at these prices its a buying opportunity. Ive added a few.

[bigbigdave] 16/4/2024 07:19

No but inline not good enough today it seems.
Should be broker upgrades on the way.

[tomg23] 16/4/2024 07:07

Was there a profit warning in there somewhere?

[johnrxx99] 16/4/2024 06:42

Sharescope had stat PBT and EPS as 31m and 29.5p, not adjusted. Anyway, we'll see, I'm not say the figures are bad, they are very clearly not, but in this market ....

[tudes100] 16/4/2024 06:41

Had a quick look through adjustments and they all look sensible to me mainly acquisition related.

[sogoesit] 16/4/2024 06:39

Indeed, but I cannot figure out analyst consensus definitions between EBITDA (analysts) and EBITA (company) and equally “underlying221; EPS (analyst 29.7p) and “adjusted̶1; EPS (company 33.4p)…. amongst other things.
Will have to go back to basics to check as the y-o-y differentials look highly positive (expanding margins albeit admin cost increases tracked revenue increases at 51%).

[tudes100] 16/4/2024 06:36

Broker consensus was 29.6p adjusted vs 33.4p actual. Decent broker upgrades coming as FY24 consensus was 37p & with 11 mths of incremental profitability from ACE this would assume the rest of the business is going backwards which clearly doesn't make any sense.

[johnrxx99] 16/4/2024 06:03

Misses consensus in pre tax and EPS but in general look ok. share price may take a knock - fingers crossed.

[sogoesit] 15/4/2024 09:40

Unfortunately, you're in bad company..... I added some recently at 780...
As big bigbigdave said it would be over ten... "by christmas", was it?

You can't win them all ;-))

[johnrxx99] 15/4/2024 08:56

Took a gambol today with a small top up. My usual kiss of death, sorry folks.

[mutley655] 12/4/2024 11:34

As results are next week I thought this would have been ticking up by now. Hopefully it will take off again when the results are announced.

[bigbigdave] 12/4/2024 11:30

Don't think you'll be disappointed next Tuesday TraderGLT.

[traderglt] 12/4/2024 07:33

Just bought a few this morning 1153 @ 780

[bigbigdave] 08/4/2024 11:41

Closing in on 8 smackeroos.

[mutley655] 08/4/2024 08:25

Just a reminder of the last information given about financial performance.As at 31 March 2023, ACE Winches reported gross assets of £55.7m and for the 12 months to December 2023 ACE Winches is expected to generate revenues of c. £43.4m, adjusted EBITDA of £13.7m and adjusted EBITA of £10.0m. Organic growth rates for the enlarged Group are expected to be in line with previous medium term guidance. Pro forma leverage for the enlarged Group as at 31 December 2023 is expected to be less than 1.4x, with the Group de-leveraging to less than 1x by December 2024. Current TradingThe Board continues to be very encouraged by the Group's performance through H2 2023 and now expects FY23 to be comfortably ahead of its previous expectations before taking into account the additional growth from ACE Winches.

[sogoesit] 08/4/2024 06:44

Haha, yes!
Let’s see if it’s a “buy an rumour sell on news” or “sell on rumour buy on news”.
I’m with the latter and looking for surprise to the upside, altho not a seller, I’m a buy on rumour and hold for news!
(I’ve noticed that no analysts have changed their views on the stock for quite some time…. am I right?)

[bigbigdave] 08/4/2024 06:02

At last!
Ashtead Technology Holdings plc (AIM: AT.), a leading subsea equipment rental and solutions provider for the global offshore energy sector, confirms it will announce its results for the year ended 31 December 2023 on Tuesday, 16 April 2024.

[sogoesit] 05/4/2024 08:27

Yep, and a pretty chart to boot... deceptive in that the gains, annualised, from January this year exceed 250%pa.
Let's see it do that again this quarter.
GLA

[bigbigdave] 02/4/2024 15:46

Another new high and 8 pounds on the horizon :o)