Augean Share Discussion Threads

[lbo] 24/7/2013 12:43

One51 will soon be getting a large cash windfall. Will this be the incentive to resurrect the augean bid?

[sammy_smith] 24/7/2013 11:02

listen - Augean - Pre-close trading update

[cerrito] 23/7/2013 21:59

The slight decline in the share price seems to me a realistic reaction to today's statement and it seems to mirror the AGM statement of 6 weeks ago; too bad I did not make the AGM because I would like to know what has to happen for the market to be less competitive-perhaps more infrastructure spending..perhaps some competitors falling by the way side.
Interested to read that first half LLW/Norm revenues were £0.6m. Last year they split out LLW revenues which were £62k in the first half and £509K in the second but I thought Norm was in relation to their North Sea business so somewhat confused
No current intention to buy or sell as for me the share price fairly priced.

[lbo] 26/6/2013 09:56

Augean confident of growth opportunities

[cerrito] 22/6/2013 12:21

Good to see that Aviva Funds have gone up from 7% to 9%

[cerrito] 04/5/2013 23:23

Someone on another thread pointed me in the direction of the latest publication of an outfit called Hardman which had at the back their forecasts for AUG
Saw they forecast sales for 2013 and 2014 at £48.5m and £51.4m with PBT at £4.2m and £5.7m respectively.
I note these are in line with what Edison has and indeed what there is in Digital Look.
Not quite sure if I understand how sales this year will be up from last year's £42.4m-and indeed PBT up from last year's £2.6m- let's hope they are right.

[cerrito] 13/4/2013 23:59

Just caught up with the very detailed presentation of 2012 annual report on the website.
Not selling at current price but nothing there motivating me to buy.
Page 10 rather gloomy
On page 19 great to see the much improved performance of Oil and Gas in the second half which explains most of the increased trading profit in the second half; not clear to me if this 2nd half performance is a flash in the pan or repeatable.
On Page 20 good to see that despite a fall in hazardous landfill activities(which by itself is approx 25% of group revenue) that Land Resources Division profits were up 2012 on 2011.
Almost doubling of losses in waste network division troubling
Note Capex at £3.5m will be down a bit.
Final comment is that it would be much more useful for all concerned if they could have an audio webcast of the presentation especially to get the q & a.
For those who have not done so the Edison report-which can be accessed from the AUG website-is well worth a read.

[cambium] 28/3/2013 16:06

Slater is watchinghttp://www.insidermedia.com/insider/yorkshire/87282-augean-pay-maiden-dividend

[lbo] 27/3/2013 15:14

Waste pays as Augean unveils first dividend

[morton2011] 27/3/2013 07:28

Good analysis from Cerrito

The results and a presentation on the companies website provide some very detailed and welcome comments.

Overall agree that this is a Hold at 33-36.

[morton2011] 27/3/2013 07:28

Good analysis from Cerrito

The results and a presentation on the companies website provide some very detailed and welcome comments.

Overall agree that this is a Hold at 33-36.

[cerrito] 26/3/2013 16:58

I see that the results with a maiden dividend and a 20%+ increase in eps and also exceeding the full year target of £2.7m PBT-difficult as that seemed at half year- was met with a yawn with zero trading.
2nd semester results good with PAT of £1.7m-the highest six monthly profit since the second half of 2008.
EPS for the year was 1.97p in line with the forecasts as at June 2012 of 1.93p
Interesting that this all came from the landfill division as note 2 shows an operating outturn before exceptional of a loss of £3m+ up from 2011's £2.3m for waste treatment/O&G and it was landfill that carried the day.
Note 9 is a good read. Good to see that no impairment needed for goodwill but it is sobering to be reminded that over the years £82m has been written off, a reflection of fact that my first purchase in Jan 07 was at £1.42p. Note that forecasts for the largest division Land resources/landfill are forecast to remain flat with modest GM improvement though the perspectives for the much smaller O&G business are better.
Pleased to see that Capex-excluding m& a-was down from £4.2m in 2011 to £3.6m last year; a bit spooky that in 2012 they spent £885k in getting planning permissions-I suppose the bright side of this is that barriers to entry are quite high.
As an aside I note that their target for near misses-ref health and safety-is one per employee per month which seems rather high.
Overall I got pretty good vibes from this but as they note without an expansion in construction progress will be slow.
To me the current 33/36p share price is appropriate. Do not anticipate buying or selling.

[lbo] 26/3/2013 09:35

Augean delivers 'robust' results



Slightly ahead of Edison estimates

[site manager] 20/2/2013 09:24

LBO,

Given the exchange rate and the bombed out share price, it wouldn`t be a surprise.

All IMHO of course.

Regs,

SM.

[lbo] 19/2/2013 14:38

Aviva plc increase holding from 6% to 7%

And One51 have divested another non core asset. Will they be making another bid for Augean soon?

[lbo] 28/1/2013 10:04

2012E Sales £42.2m £7.8m EBITDA PTP £2.7m

[morton2011] 28/1/2013 10:03

Trading Update

Nothing very positive here. LLW is not delivering the profits hoped for but is not a dud. Existing businesses flat in revenue with losses being reduced in the non Landfill side.

They say free cash flow positive £ 1 mill before £3.3 mill of acquisition costs. The cynic would wonder if the acquisition costs contain any operating or capital expense..Debts increase to £ 6.2 mill so a further £ 2 million left the business in 2012. Despite this they spin it positively by forecasting to pay a dividend.

Landfill is now something to watch alongside the cash. It typically provides all the cash for Augean.

One51 - their share price continues to slide and recent Board changes see all 3 new directors coming with a background in Aviation.

So overall not surprised share price down on this update

No news on new CEO they started looking for in September clearly lots of interest !?

[cerrito] 28/1/2013 09:54

Interesting that no comment on how they are getting on with recruiting a ceo but Blacker seems to be there as he is given as a contact point
Note that they are spending money on reorganizing their capital so they can pay dividends but given their current financial and trading situation any dividend they will pay will be symbolic so one wonders why they bother.
Have not been able to find what the initial sales forecasts for the year were to see how much the current estimate of £42/43m has dropped-although will up from the actual sales revenue of £37.5m in 2011.
Note they give no comment on profitability-perhaps they are not allowed to in a trading statement at this time of year.
Remember that in the interims they confirmed they were looking at £2.7m for the year pre tax pre exceptionals; the first half figure was £0.8m and one suspects that with the LLW order delays they have not got the £1.9m in the second half they were expecting in September.
All in all share price reflects the current reality.

[cerrito] 01/12/2012 21:26

not sure what is going on here
I appreciate that Shanks, Biffa and Viridor are all facing headwinds but they are in different markets but perhaps the headwinds they are facing is affecting sentiment with AUG.
Of course could never quite understand why a couple of months back it shot up to 40+