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AVAP Avation Plc

154.00
0.50 (0.33%)
03 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Avation Plc LSE:AVAP London Ordinary Share GB00B196F554 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.50 0.33% 154.00 194,868 16:28:51
Bid Price Offer Price High Price Low Price Open Price
154.00 155.00 155.50 149.50 149.50
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Equip Rental & Leasing, Nec USD 92.4M USD 19.74M USD 0.2785 5.57 108.77M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:24 UT 802 154.00 GBX

Avation (AVAP) Latest News (2)

Avation (AVAP) Discussions and Chat

Avation Forums and Chat

Date Time Title Posts
30/11/202417:59Avation - Fly to Let3,098
25/1/201312:03Avation traded on Plus753
01/10/201018:35Flying High?-

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Avation (AVAP) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
16:35:24154.008021,235.08UT
16:29:55154.00370569.80AT
16:28:25154.0079121.66AT
16:28:25154.5071109.70AT
16:28:24154.50305471.23AT

Avation (AVAP) Top Chat Posts

Top Posts
Posted at 03/12/2024 08:20 by Avation Daily Update
Avation Plc is listed in the Equip Rental & Leasing, Nec sector of the London Stock Exchange with ticker AVAP. The last closing price for Avation was 153.50p.
Avation currently has 70,863,124 shares in issue. The market capitalisation of Avation is £109,837,842.
Avation has a price to earnings ratio (PE ratio) of 5.57.
This morning AVAP shares opened at 149.50p
Posted at 30/11/2024 17:59 by feynzz2
I don't think Rangeley could have bought more as they were already over 25%, they could have sold some though. Anyway we should find out in the next couple of days who the buyer is. If its Azorra or any entity linked to them then it would spark TO rumours again. Anyone buying 14% of share capital at 150-155.5p must have a strategic objective. No one would buy this for the yield right and growth in NAV would be limited to 5% p.a. for at least the next couple of years until they can refinance the bonds. I do think its only a waiting game with AVAP. I think it gets acquired in the short term (i.e. less than a year).
Posted at 30/11/2024 17:46 by bdbd11
My guess is that Rangeley bought the rest of the Oceanwood stake. They sold out at 72p if i remember rightly, leaving them with 2.4%. so probably happy to let the rest go at double the price. If that's the case, and Rangeley also bought the warrants, they must be close to a 30% stake. IMO this would also be very good news as they will want an exit, and would only pay that price if they still see substantial upside. I may of course be completely wrong.
Posted at 30/11/2024 16:06 by feynzz2
It wasn't just the 3.69m warrants that were sold at 150p, another 6.5m shares exchanged hands in 2 block trades at 150p and 155.5p on 28th November. The total sum amounts to 14% of the company's share capital. It appears to be a single buyer although I am not sure who has sold the remaining c6.5m shares. I believe there has to be a TR1 on Monday. In addition, another 12m shares were traded between 16 October to 27 November without any notification of holdings which is odd for a company with a relatively small free float. Surely something is going on in the background.
Posted at 30/10/2024 18:57 by harrogate
Pretty unusual for such a press story to result in a share price going down on the day. Especially on such high volumes
Posted at 21/10/2024 12:35 by bdbd11
I still think there is more to this rise than the normal course of buying an under valued asset. Let's not forget that pre covid the company/assets were 'up for sale' with 3rd parties interested. That took the share price over £3. If buyers are sniffing again, we should get nicely above £2 this time quite quickly.
Posted at 26/9/2024 07:48 by bdbd11
Great results. NAV up. profits up, debt reduced. Yet the share price languishes at a 50% discount to nav.
Posted at 02/6/2024 07:27 by z1co
Really strong buying on Friday afternoon including a 24,000 BUY @ £1.43 reported after the close.

With two profit upgrades in May , both WH Ireland and Canccord Genuity have raised their earning estimates.

WH Ireland views the current share price discount to NAV as unjustified, given the substantial progress Avation has made in deleveraging its balance sheet and the broadly validated aircraft valuations in the market. Consequently, WH Ireland sees a fair value for Avation’s shares at 250p, suggesting significant upside potential from the current share price of 140p.
Posted at 29/5/2024 06:34 by cf456
So WH Ireland, Canaccord and Simon Thompson all seeing significant upside in the share price from the current level then. All very positive.

“WH Ireland sees a fair value for Avation’s shares at 250p, suggesting significant upside potential from the current share price of 140p.”

“'Buy' is the rating with a target price of 280p with the shares trading ‘far below’ NAV.”
Posted at 28/5/2024 21:26 by z1co
Avation Plc: Capitalising on Aircraft Purchase Rights and Robust Lease Growth

May 28, 2024 2:10 pm

Avation PLC (LON:AVAP), has provided a trading update as of 24 May 2024, so DirectorsTalk Interviews caught up with WH Ireland Analysts John Cummins and Charlie Cullen for further insights.

Q1: What recent developments have positively impacted Avation’s financial outlook?

A1: Avation has reported significant positive developments, including an expected increase in the value of its ATR 72 purchase rights to approximately $115 million, up from $88 million at the end of 2023. This increase is due to the grant of new aircraft purchase rights and the extension of existing ones. Additionally, the company has seen an improvement in lease revenues and cash collections, benefiting from full fleet utilisation and a 19% year-over-year increase in international passenger air traffic reported by IATA.

Q2: How has Avation’s recent sale agreement affected its financial position?

A2: Avation has announced a sale agreement for two ATR 72 aircraft from its order book, which is expected to deliver $10 million of net cash proceeds at delivery in FY 2025E. This sale validates the substantial option value attached to Avation’s purchase rights and supports the company’s strategy of realising value through the sale or lease of aircraft.

Q3: What are the updated forecasts for Avation’s net asset value (NAV) and share price?

A3: Following the revaluation of purchase rights, WH Ireland has adjusted its forecasts, resulting in an implied 25% increase in NAV at the year-end. Consequently, the estimated fair value for Avation’s shares has been raised to 250p from 200p.

Q4: Can you explain the strategic significance of Avation’s ATR 72 purchase rights?

A4: Avation holds orders for 12 ATR 72 aircraft and 24 purchase rights, which allow the company to purchase new aircraft at a significant discount to their market value. These rights hold substantial option value, which can be realised through either the sale of aircraft upon delivery or leasing them over their lifespan. The recent extension of these rights and the grant of new ones have increased their value to $115 million, reinforcing their strategic importance to Avation’s business model.

Q5: How is Avation performing in terms of lease revenues and cash collections?

A5: Avation is experiencing robust performance in lease revenues, which are currently at $7.9 million per month. Cash collections have also improved, reaching 105% as airline customers repay COVID-19-related arrears. This improvement in financial metrics reflects the recovering demand in the air traffic sector and effective management of lease agreements.

Q6: What are the potential risks associated with investing in Avation?

A6: As with any investment, there are risks involved. Potential risks for Avation include fluctuations in international air traffic demand, changes in aircraft market values, and potential delays or issues related to aircraft deliveries and lease agreements. Additionally, macroeconomic factors and geopolitical events can impact the aviation industry, affecting Avation’s financial performance and growth prospects.

Q7: What is WH Ireland’s view on Avation’s current share price?

A7: WH Ireland views the current share price discount to NAV as unjustified, given the substantial progress Avation has made in deleveraging its balance sheet and the broadly validated aircraft valuations in the market. Consequently, WH Ireland sees a fair value for Avation’s shares at 250p, suggesting significant upside potential from the current share price of 140p.

Q8: What are Avation’s future growth prospects and strategic plans?

A8: Avation’s future growth prospects are bolstered by its valuable ATR 72 purchase rights and the strategic sale or lease of these aircraft. The company’s ability to capitalise on improving market dynamics and increasing international air traffic demand positions it well for continued growth. Additionally, Avation’s focus on deleveraging its balance sheet and improving cash collections further strengthens its financial foundation for future expansion and value creation.

Written by: Anthony Fox
Posted at 25/5/2024 18:53 by z1co
Fishbourne

You never know the share price could well rerate towards £3 again over the next 12 months now that the company's fleet is once again fully deployed after nearly 4 years.

Damian Brewer, at Canaccord has a price target of £2.30 and is saying that the current share price is not pricing-in future revenue and profit uplift.

The £2.30 target was prior to "significant profit beat" announced yesterday.

No doubt guidance will now be upgraded for the current and next year.
Avation share price data is direct from the London Stock Exchange

Avation Frequently Asked Questions (FAQ)

How many Avation shares are in issue?
Avation has 70,863,124 shares in issue.
What is the market cap of Avation?
The market capitalisation of Avation is GBP 108.77 M.
What is the 1 year trading range for Avation share price?
Avation has traded in the range of 102.50p to 192.00p during the past year.
What is the PE ratio of Avation?
The price to earnings ratio of Avation is 5.57.
What is the cash to sales ratio of Avation?
The cash to sales ratio of Avation is 1.19.
What is the reporting currency for Avation?
Avation reports financial results in USD.
What is the latest annual turnover for Avation?
The latest annual turnover of Avation is USD 92.4M.
What is the latest annual profit for Avation?
The latest annual profit of Avation is USD 19.74M.
What is the registered address of Avation?
The registered address for Avation is 5 FLEET PLACE, LONDON, EC4M 7RD.
What is the Avation website address?
The website address for Avation is www.avation.net.
Which industry sector does Avation operate in?
Avation operates in the EQUIP RENTAL & LEASING, NEC sector.

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