Dyson Share Discussion Threads

[napoleon 14th] 06/3/2009 11:45

Hello again!

I bit the bullet @ c.100p & sold out.
Proves how salutory hard decisions can be.... 'cos I bought more DTK with the proceeds!

I'll get paid for my DTK soon @ 215p ea., & will probably buy a small wedge of these while they're in the dog house. Better days will return IMHO.

Perfect ISA play.

[gordonbrown] 25/2/2009 20:07

so does anyone know how long the cashflow will last?

all very quiet

[sleveen] 19/2/2009 09:46

Thanks Garth good research

[diesel] 19/2/2009 09:18

Bought some more of these yeaterday...I think the problems with financing will be resolved and that will mark the beginning of a long recovery period. The debt level is a concern but in a year or twos time this will be generating profits of at least £5m so todays market cap of circ £3m will looing like a bargain.
Good research Garth....shame fuel cell cars wont need catalytic convertors!

[garth] 19/2/2009 09:07

I have to say that I hadn't realised quite how Dytech were involved in this side of the hydrogen economy. There seem to be several projects involved - 2, 3, 5 year. All of them are old projects - still trying to find anything curent.

"HYDROFUELER: Intensified technology for distributed hydrogen production"

The project will deliver a design specification for an innovative efficient compact unit for production of hydrogen for fuelling hydrogen powered fuel cell vehicles. The key components are a catalytic reactor based on intensified heat exchangers for the conversion of natural gas to synthesis gas and a novel separation system to produce hydrogen of the required quality.



This on their work creating high-precision ceramics for a reactor core for reforming hydrogen from biomass:

"New research turns sewage farms into power plants"
Researchers at the University of Warwick's Warwick Process Technology Group have devised a process that turns wet waste from sewage farms and paper mills into a source of power.

University of Warwick researcher Dr Ashok Bhattacharya and his team are part of a Europe wide consortium that have cracked the problem of how to extract very pure levels of hydrogen from wet bio-matter, such as sewage or paper mill waste. This very pure hydrogen can then be used in "fuel cells" to power homes, factories and cars. The research consortium have now received £2.5million in European funding to work up their lab based solution into larger prototypes. Eventually the research team's "plated membrane reactors" could be built as small industrial units, no bigger than a large room in some cases, and added directly to the sites of sewage plants or paper mills.


ftp://ftp.cordis.europa.eu/pub/eesd/docs/ev260901_poster_super_hydrogen.pdf



Hydrogen infrastructure project with the University of Warwick - article suggests the infrastructure would be ready for 2009.

"Warwick University leads drive to design hydrogen-fuel infrastructure"



"Hydrogen-powered car 'close to reality'"

Researchers have found a way of generating high purity hydrogen for fuel cells which may bring closer the use of liquid hydrogen fuel to power cars.

The next stage in the project at Warwick Manufacturing Group at the University of Warwick is to build a laboratory-scale liquid hydrogen filling station.

[garth] 19/2/2009 08:34

Just having a look at the Dyson Group website having lost the image at the top of the thread. Looks like they've had another makeover - presumably part of continuing reorganisation.

I wonder whether this will be something we hear more about in the coming months and years:

"Dytech specialises in the development and manufacture of advanced high-geometry porous ceramic products for the oil, gas and petrochemicals sector.

Its products are particularly aimed at high-temperature, high-pressure applications, such as the steam reforming of natural gas into Hydrogen, which is in increasing demand for use in Industry, to make fertilizers, and as a potential carbon-free fuel for tomorrow.

[gordonbrown] 18/2/2009 15:38

nice rise, perhaps I was wrong yesterday or will we see a drop back in the next hour?

[mrbt] 18/2/2009 09:28

Thanks Garth

[garth] 18/2/2009 09:23

Gordon,

I would agree that risks are high - hence the share price - but improving following yesterday's RNS. I would argue that the previous trading statement did not suggest that all was fine and sunny......

Yesterday's IMS was, however, significantly more positive.....

Mr BT,

With regards the property disposal, I have had it confirmed that the contract was cancelled by mutual consent and mutual advantage.

G.

[gordonbrown] 18/2/2009 08:53

garth the company would always say yes all great and sunny here!!

like I said this statement really didn't give any facts that could be used to make an investment decision (hence the share price remaining level).

the risks are very high, however if you had a couple of £k lying around why not take a punt, DYS have demonstrated quick rewards however there are equal risks that the money would never be seen again.

[garth] 17/2/2009 17:53

Spoke to the company and asked if I was right to read a more positve tone in the IMS. They confirmed that I was.....

G.

[diesel] 17/2/2009 17:00

Garth...sounds plausible, we may never know...but I do read the IMS as positive, given previous statements and market conditions.

[le frog] 17/2/2009 16:11

I'm a bit green on these things but maybe the banks want the property as security?

[garth] 17/2/2009 15:59

Looks to me as though the contract for sale of the property was made by Dyson following discussion with its bankers. The previous announcement about the sale had stated that the funds would add to working capital. It would seem reasonable to assume that - following the discussions with bankers - they now have sufficient working capital and the property is better held as an asset for sale as markets improve?

I'd be very interested to hear the thoughts of others as to the possible reasons for cancelling the sale.

G.

[gordonbrown] 17/2/2009 15:30

garth the issue I have with this statement is that it gives no actual details on how the funding issue will be resolved, just cutting costs and returning to core business is always good however short-term can their operations continue when their cash flow is running very low? the property sale would have given them time however as this has fallen to the side (with no real explanation).

I would like to see it come out the other side however the share price continuing to slide indicates that the market thinks the risks are increasing. I would like to see directors buying RNS to change my mind however the 2008 figures and facts don't make good reading(Net debt £32m).


As stated the real investment potential is for a takeover and at a point I might reinvest just for a short term punt.

only my 2 penny' worth, good luck

[sleveen] 17/2/2009 14:26

IMS positively upbeat compared with 20.1.2009 trading update

[garth] 17/2/2009 14:23

December trading statement:
"As reported on 14 November 2008, the Company has experienced a significant and material reduction in the demand for its Saffil and Ecoflex products as a result of the downturn in the global automotive markets. "

February IMS:
"As previously announced, sales in the Performance Materials division have
decreased over the 10 months to 31 January 2009. This reduction is 16% compared with the corresponding period in the previous year, due primarily to decreased sales of Ecoflex products into the automotive markets.

The Thermal Technologies division's sales were within 3% of the prior year
levels following a strong first-half performance. Additional factory
optimisation projects are currently underway.

The Dytech business is progressing to plan and opportunities to develop the
energy sector with alliances and partnerships are underway in preparation for
future revenue growth."

[garth] 17/2/2009 14:16

gordonbrown says:

"gordonbrown - 17 Feb'09 - 13:06 - 2905 of 2907

guys hate to say it but Dyson looks to be going pop"

Patrick Lammers says:

"Patrick Lammers, CEO of Dyson Group said, "In light of the current economic
climate, the Group is continually reviewing its business operations and
priorities, in order to ensure that it is well-positioned to take advantage of
strategic opportunities when market conditions improve. The medium- and
long-term outlook remains positive as we continue to implement the Group
restructuring that will refocus Dyson on its core areas of operation."

[garth] 17/2/2009 14:13

So, should we take this to mean that following the release of support from the Government to insure debt of "clean energy/environment" automotive industry players that the banks are now happy to release working capital to Dyson on the basis of what we already know - this is a company well able to return good profitability as normal trading conditions return?

And it looks like the weak £ is already helping.....

"Constructive discussions with both of the Group's banks, namely Lloyds TSB and Svenska Handelsbanken, are ongoing with regard to debt facilities and banking covenants. The Group will provide an update to the market in due course.


On 23 December 2008, the Group announced that it had exchanged contracts for the conditional sale of its freehold land and buildings on Fulwood Road, Sheffield ("Property Disposal"), which was conditional, inter-alia, on shareholders' approval in a general meeting being given by no later than 31 March 2009. In light of the ongoing discussions with the banks, the Group today announces that the contract for the Property Disposal has been cancelled. Other than the clarification referred to, there has been no significant change affecting any matter contained in the announcement made on 23 December 2008 and no other significant new matter has arisen, which would have been required to be included in that announcement had it arisen at that time. "

[mrbt] 17/2/2009 13:10

who cancelled the property disposal?

[gordonbrown] 17/2/2009 13:06

guys hate to say it but Dyson looks to be going pop

[sleveen] 17/2/2009 13:02

Today's IMS seems a lot less dire than 30.1.2009.

[mrbt] 17/2/2009 12:43

In
light of the ongoing discussions with the banks, the Group today announces that
the contract for the Property Disposal has been cancelled.

[mrbt] 17/2/2009 12:42

17 February 2009

?
+---------------------------------+------------------------------------------+
| For immediate release | 17 February 2009 |
+---------------------------------+------------------------------------------+


Dyson Group plc
("Dyson" or "The Group")


INTERIM MANAGEMENT STATEMENT


Dyson Group Plc (LSE:DYS), the materials technology company, announces its
Interim Management Statement for the period from 10 October 2008 to 17 February
2009.


As previously announced, sales in the Performance Materials division have
decreased over the 10 months to 31 January 2009. This reduction is 16% compared
with the corresponding period in the previous year, due primarily to decreased
sales of Ecoflex products into the automotive markets.


The Thermal Technologies division's sales were within 3% of the prior year
levels following a strong first-half performance. Additional factory
optimisation projects are currently underway.


The Dytech business is progressing to plan and opportunities to develop the
energy sector with alliances and partnerships are underway in preparation for
future revenue growth.


Energy costs are at a higher level relative to the previous year, but prices
have reduced over recent months. In addition, recent weakening of Sterling has
improved the Group's competitive position for order intake and has already
started to impact Group trading to a limited extent.


As previously announced, the Group has already implemented cost containment
measures which have included staff reductions, short-time working and production
shut-downs in order to align costs with the current level of demand.


Constructive discussions with both of the Group's banks, namely Lloyds TSB and
Svenska Handelsbanken, are ongoing with regard to debt facilities and banking
covenants. The Group will provide an update to the market in due course.


On 23 December 2008, the Group announced that it had exchanged contracts for the
conditional sale of its freehold land and buildings on Fulwood Road, Sheffield
("Property Disposal"), which was conditional, inter-alia, on shareholders'
approval in a general meeting being given by no later than 31 March 2009. In
light of the ongoing discussions with the banks, the Group today announces that
the contract for the Property Disposal has been cancelled. Other than the
clarification referred to, there has been no significant change affecting any
matter contained in the announcement made on 23 December 2008 and no other
significant new matter has arisen, which would have been required to be included
in that announcement had it arisen at that time.


The restructuring of the Group, as announced in June 2008, is now at an advanced
stage, with the implementation of the functional organisation and the
recruitment of new professional management now complete. Further restructuring
projects to streamline the Group are being continually evaluated.




Patrick Lammers, CEO of Dyson Group said, "In light of the current economic
climate, the Group is continually reviewing its business operations and
priorities, in order to ensure that it is well-positioned to take advantage of
strategic opportunities when market conditions improve. The medium- and
long-term outlook remains positive as we continue to implement the Group
restructuring that will refocus Dyson on its core areas of operation."

[gordonbrown] 12/2/2009 11:47

The Company announces that it was notified today by its non-executive director
Dr. K Rajagopal that he has been appointed a non-executive director of Spirax
Sarco Engineering plc with immediate effect. Dr. Rajagopal is also a
non-executive director of W S Atkins plc and Bodycote plc.


so which company will make a move for Dyson or will it go pop first?