Byotrol Share Discussion Threads

[nobbygnome] 31/1/2020 10:09

Well done 1gw! Persistence pays....sometimes!

[saint in exile] 31/1/2020 10:07

Why not indeed.Can they keep up with demand would be my biggest fear?

[letmepass] 31/1/2020 10:07

Wow thus corona virus will push sales through the roof.. 20p coming

[sikhthetech] 31/1/2020 10:05

The ghost,

"The investment case here is not the virus, wouldn’t buy the stock for that."

why not?



The ghost who walks - 29 Jan 2020 - 18:27:15 - 4049 of 4088

The investment case here is not the virus, wouldn’t buy the stock for that.

[philjeans] 31/1/2020 10:05

Miles to go here now.

[saint in exile] 31/1/2020 09:58

I think you are right kcowe 4082 demand will go nuts soon as the virus gets a grip.Think i`ll buy some myself!

[sikhthetech] 31/1/2020 09:48

Mudbath,
Now that it's conclusive that MS didn't meet expectations...

Who told you that MS was running above forecasts???
;-)



mudbath8 Sep '19 - 19:22 - 3663 of 3684
0 2 1
<...>
Because I have it on good authority that trading and profitability at MS is running above forecast.
<...>

[fillipe] 31/1/2020 09:48

First two cases of Coronavirus here in the UK just been confirmed.

f

[iamgreat1] 31/1/2020 09:39

Another p n d operation by the usual gangs of twitter

[mudbath] 31/1/2020 09:37

Great to see some understanding of the potential here kicking in at last.

My son yesterday predicted that a significant spike in the BYOT was immininent.

Good lad!

[kcowe] 31/1/2020 09:26

Bit like n 95 masks on ebay and amazon ... prices have multiplied this week and still selling. last week n95 equivalent masks under £2 a piece , now up to £12.99 and selling by the hundred a day ... what price BYOT , when the first CORONAVIRUS hits the uk ... perception and fear will drive the price to crazy levels ..

[kcowe] 31/1/2020 09:12

No brainer , buying these is putting ones money where worlds attention is going to be.. sanitation , best in class.

[rivaldo] 31/1/2020 09:01

You joined ADVFN last month. I started posting here in February 2000.

Welcome iamgreat1 :o))

[iamgreat1] 31/1/2020 08:49

I'm sure you've been watching for yearsPmsl

[rivaldo] 31/1/2020 08:27

I bought some of these first thing this morning. Been watching for years as it's been a serial under performer, but the vibes have been improving here recently for such a small cap.

The substantial director buying yesterday and the coronavirus effect re BYOT's products make BYOT worth a tickle now.

[1gw] 31/1/2020 07:34

I'll agree that a big beat would have been better - if they could say Medimark was on track for vastly exceeding the 650k EBITDA target that would have been better for the shareprice.

But between underperformance against max earnout target and exactly meeting performance, although the current share price might be higher with a meet, I think it is less clear for the longer-term share price. That, IMO, depends on what type of miss it is. If they are still growing, and particularly if it is performance delayed rather than performance lost, then there should be little impact on the longer-term shareprice - some delayed EBITDA this year is traded off against cash saved and lower dilution. If the longer-term potential of the Medimark business is unchanged then the lower dilution benefits heritage-byotrol shareholders and the cash is available for other things - such as increasing the equity involvement in the US business, or acquiring another business.

But in the short-term, and without clarification from the company on how well Medimark is performing this year, the risk is that a discount is applied to the company valuation to reflect the possibility that Medimark earnings peaked in FY19 and therefore byotrol overpaid. I don't think that is the case, from the statement in the interims "Medimark running ahead of previous year", but I would have liked to see byotrol confirm that that was still the case in yesterday's rns.

[the ghost who walks] 31/1/2020 07:18

Only thing I would add is that now that it is clear medimark has underperformed its good news they close out the earn out and move on. I never understood why the integration benefits needed to wait, I assume it's due to the earn out structure, so hopefully that can now take place.Either way, I'm long the shares and have been for about a year.

[the ghost who walks] 31/1/2020 06:59

No I wouldn't agree. I would have preferred, as a byotrol shareholder, that Medimark hit or even exceeded targets and earn out was triggered. Stock would be much higher if that were the case.

[sikhthetech] 30/1/2020 21:41

1gw,
"The earn-out has been reduced because Medimark have not met the max earn-out targets."

and the max earn-out targets were based on....
achieving EBITDA targets...

so they didn't meet expectations...


"An additional GBP1.8m of consideration is payable subject to achieving EBITDA targets in FYE 31 March 2019 and FYE March 2020. The deferred consideration is also to be paid half in cash and half in new ordinary shares."

"Medimark is on track to deliver EBITDA of GBP500k for the full year to March 2019, which will trigger the first earn-out payment"

[1gw] 30/1/2020 21:34

The earn-out has been reduced from the maximum possible because Medimark have not met the max earn-out targets.

If Medimark is still on a growth path (i.e. FY20 revenue and EBITDA show reasonable growth on FY19 numbers), then that could very well be to heritage byotrol shareholders' advantage, wouldn't you agree, compared to them having met the max earnout targets?

[sikhthetech] 30/1/2020 21:30

1gw,

The earn out was reduced, as Medimark have not met expectations...
Simple..

[smithie6] 30/1/2020 21:18

((I post this morning or last night that I expected the WHO to upgrade the status for the virus crisis to be a global problem/emergency

& today that did happen

...this crystal ball of mine...it's brilliant !

[kcowe] 30/1/2020 21:18

Boots are limiting max purchases to 4 a time.... 3 days ago could buy as many as one wanted ....

[1gw] 30/1/2020 21:17

Medimark.

Just looking back at my notes on Medimark, I see that the FY20 max earnout target of £900k was based on £650k EBITDA with 9:1 gearing. So if they did £550k EBITDA they would be £100k short which means earnout would be reduced by £900k, i.e. they would be due nothing.

For FY19, if the shares are valued at 2.4p (the end-March price) then the share consideration is around £220k, so £510k total consideration. This would mean £390k short of max earn-out, divide by 9 to get £43k short on EBITDA. If instead we take the £620k earn-out number given in the prelims, that would be £280k short of max earn-out, divide by 9 to get £31k short on EBITDA.

So it looks to me like around £460k to £470k EBITDA for FY19.
And they could be anything up to £550k EBITDA for FY20 and still not get any earn-out.

Which means that the Medimark story could well be one of continued growth in profitability, even though they haven't triggered FY20 earn-out.

I'd be very happy as a byotrol shareholder if Medimark have been able to continue growing from FY19 to FY20, earn-out has been significantly reduced (from the maximum) and they can get on with delivering synergies 2 months earlier than expected. I would be less happy if Medimark's profitability or revenue has declined from FY19 to FY20. There is nothing in this morning's RNS to say whether Medimark is still expected to grow revenue and EBITDA profitability from FY19 to FY20, so we may have to wait for the results to find out - by which time it may all be academic if they have managed to land a decent US deal.

[sikhthetech] 30/1/2020 18:24

Boots have re-stocked the Boots antiviral hand foam..
Both the 50ml & 200ml available in stock...was out of stock yesterday...

50ml: '73 purchased in last 24hrs'
200ml: '81 purchased in last 24hrs'...





Lets see how many they sell by tomorrow evening...