Dowlais Share Discussion Threads

[rettah] 09/11/2023 07:50

Thanks for posting. Decent trading update out today. UAW strike hasn't altered full year expectations.

[petewy] 08/11/2023 10:17

hxxps://www.voxmarkets.co.uk/articles/vox-markets-fund-manager-series-alexandra-jackson-of-rathbones-859bdfe/
after 17mins

[jsforum] 13/9/2023 08:29

And now tipped in IC - so I guess you there are different perspectives

[jsforum] 13/9/2023 06:42

The Daily Mail reckons looming auto manufacturer strikes could impact DWL

[petewy] 12/9/2023 08:36

Healthy results.
"Dowlais had a strong first half of the year, trading ahead of our expectations, with double digit revenue growth, significant margin expansion in a period of high inflation, and better than expected free cash flow generation." Ceo

[brain smiley] 11/7/2023 15:36

Citigroup sell note - target price 95p.

[latifs100] 11/7/2023 14:58

why the drop today 5%, any news?

[steeplejack] 21/6/2023 10:11

Directors ie Chairman,CEO,chief Financial Officer and a Non-Exec have purchased around two thirds of million shares at 120.88p.

[gettingrichslow] 23/5/2023 14:31

Santangello, what massive buying from Directors? It was low levels of buying. Their potential share award scheme allocations are big, but that’s not their buying, those were free grants.

[yertiz] 23/5/2023 06:54

An OK trading statement, tempered by Powder Metallurgy running flat. Not expecting any great movement today or in the near future. Dowlais is still finding its feet in a moderately positive market

[santangello] 22/5/2023 07:16

Really looking forward to tomorrow's Trading Update.....and by the looks of it so are many, many others :)I should also add, the Directors will be too .....after their massive buying of late.I do love massive buying from Directors.

[jonwig] 05/5/2023 18:36

Sponsored research note from Edison:

[gettingrichslow] 03/5/2023 11:34

Have you considered gifting them to someone related to you who hasn’t used their ISA allowance?

[bostonborn] 28/4/2023 12:55

I am year by year moving shares into my ISA but the limit is £20,000 so it takes several years!

[jonwig] 28/4/2023 11:44

boston - OK, thanks. As long as you get the answer!

If I bought this, it would be in my ISA. My CGT worries aren't what they used to be.

[bostonborn] 28/4/2023 10:39

Thanks for your trouble / reply jonwig article was really helpful.
However since my post of 28th April I found in the Melrose listing of Dowlais document that the price should be based on the opening prices on the 20th April not the closing prices. Thus the ratio that I came up with was 71.9% Melrose : 28.1% Dowlais, based on opening mid prices of 361p and 141p; their closing prices were 413.45p and 117.20p. however it doesn't make much difference really!
What do you think?!
Both Melrose and Dowlais are very long term investments for me, I've held Melrose for around 12years already. I saw a broker forecast for Dowlais at 180p, but they would say that of course, probably the house broker!

[rettah] 28/4/2023 07:31

This is pretty much in line with the demerger presentation on Melrose website. The margin recovery is slightly better for Melrose as well. In addition they state that there is scope here for a 2x increase in operating profit and 3x increase in melrose.

Prospects for both post demerger seem good.

[jonwig] 28/4/2023 07:21

boston -

CGT implications for Melrose/Dowlais:



IC -

UBS analysts estimate the company can grow its adjusted operating margin from around 7 per cent this year to 11.6 per cent by the end of 2025. Their base case valuation for Dowlais works out at 200p a share. RBC analysts' equity valuation implies a price of 208p.

[bostonborn] 25/4/2023 07:18

For HMRC tax purposes, future capital gains calculation purposes, what cost should be used for the Dowlais shares received from Melrose. Is it based on the opening prices for Melrose and Dowlais and the adjusted number of shares of both companies? Presume it also affects the Melrose tax calculation, when and if I dispose of them. Hopefully someone can help me.
II account has the cost of the Dowlais shares received as zero, which seems a bit strange.

[prince7652] 24/4/2023 14:26

130 now What's not to like

[tenapen] 21/4/2023 16:34

I can imagine finding a valuation for both companies after the split will be difficult.

As with the other hydrogen / fuel cell companies I am buying the future as sales do not come close to valuation at present ! One day !.


This is taken from a recent PM - RNS so it looks like GKN Hydrogen are doing fine .... More orders than many

Quote; Taking into account previous orders, GKN Hydrogen has now ordered 46 "HyModule® S8" hydrogen fuel cell systems in total from Proton Motor. While there can be no certainty, the Board of Proton Motor expects to receive further orders as GKN Hydrogen continues to integrate the Company's technology in its "HY2" energy systems.

[jonwig] 21/4/2023 15:47

tenapen - will look.

As it stands, I'm finding it too hard to value, but I've seen the hydrogen subsidiaries.

[tenapen] 21/4/2023 14:42

Thanks for starting this thread jonwig.

Not wishing to promote another company, but would it be good information to add Proton Motor in the header ?. GKN Hydrogen buy thier fuel cells from PM. Information for anyone wanting to hedge.

No problems if you decide Not.

[jonwig] 21/4/2023 11:20

It's hard work figuring out what the accounts mean. Their auditors say:

This Carve-out Historical Financial Information
may not be indicative of the Group’s financial
performance and does not necessarily reflect
what its results of operations, financial
position and cash flows would have been
had the Group operated as an independent
group during the periods presented

And the balance sheet as presented is pretty poor. The statement

At 31 December 2022, the Group was owed more
than £650 million by non-Group entities
owned by the Ultimate Parent,

is odd, in that I can't find the relevant asset in the balance sheet.