Eco City Share Discussion Threads

[lufc5] 10/9/2012 14:04

Where did The Mail get the N Wray info from?

[opaldouglas] 10/9/2012 12:21

Lufc - Nigel Wray taking a stake certainly makes things very intresting... He's very well respected and has made a great deal of money through dominos pizza.

Plus £2.8M VAT refund could be a real bonus given ECV has a market cap circa 5m!

[lufc5] 10/9/2012 11:41

This looks like it could have a decent/steady run up from here.

[opaldouglas] 09/9/2012 20:05

From the mail:

Eco City Vehicles, flat at 1.82p, has picked up an interesting new shareholder in a £1.75m share placing at 1.5p. City financier Nigel Wray has taken a 15 per cent shareholding in the supplier of London licensed Mercedes taxis in the placing. Sales of the Mercedes taxis continue to surge with unit sales more-than-doubled in the first seven months to July. The company's market share of new London taxi sales has soared to 36 per cent from 22 per cent.

Read more:

[opaldouglas] 09/9/2012 19:29

I didn't realise ECV had a claim for refund of VAT in an amount of up to 2.8M - this could significantly affect their debt liability's should this be successful.

KPM-UK Taxes Plc, a wholly owned subsidiary of the Company, has the benefit of a claim for a refund of VAT in an amount of up to GBP2.8m ("VAT Claim"). The Company has agreed that any compensation net of corporation tax received from HMRC as a result of the VAT Claim will be applied firstly in repayment of the Pension Scheme Loan and secondly (provided the Pension Scheme Loan has been repaid in full) in repayment of the Global Meters Arrears.

[opaldouglas] 09/9/2012 19:26

Share placing has taken place at 1.5p, although this at a discount to current share price new & current investors have obviously been happy to stump up the cash which certainly bodes well for the future and should draw a line under the current share price. Additionally ECV has been short of cash for some time so this should provide some much needed rest bite!

Peter DaCosta is to assume a non executive director role - looks like he will be responsible for sourcing and assessing new opportunities, no doubt this will go hand in hand with the companies next phase of development.

[opaldouglas] 09/9/2012 19:09

Current Trading is looking great, update out last friday:

"Current trading

The Company has experienced strong trading in the first seven months of 2012 against a challenging economic and industry environment. This reflects increasing momentum of sales and popularity for the latest Mercedes Vito Euro V model.

Throughout the seven-month period, ECV continued to enjoy solid demand for the Mercedes Vito. Based on Transport for London (TfL) data, the Mercedes Vito increased its share of the new London licensed taxi market to 36% in the first seven months of the year, up from a market share of 22% in the same period last year. New Vito taxi licenses increased by 102% to 354 vehicles in the first seven months against 175 in the same period last year, and 331 for the whole of 2011. This means that new licenses in the first seven months of 2012 represented 107% of the annual license sales achieved last year.

The latest version of the Blue Efficiency Vito taxi, which was launched a year ago, complies with stringent new European Union vehicle emission standards as well as providing superior quality, improved fuel efficiency, comfort and six-seat capacity."

[opaldouglas] 03/9/2012 00:34

Although investing primarily in Taxis may seem boring the figures this year appear to look very good. Some basic calcs as per latest accounts, 2011/10 are actual whereas 2012 is forecast by myself.

As stated in 2011 year end report trading in the first 5 months has been strong and 87% of sales from 2011 have already been achieved! Which means ECV have already sold 289 new Vitos @ £33,500 a pop. Should this continue at the same rate throughout this year total sales will stand at 696 generating £23,316,000 gross revenues for new taxi sales alone.

Factor in the like for like sales for used taxis and as per 2011 and equal revenues for Parts, After Sales & One 80 and Gross Revs come in circa £35M in 2012. (over 12M more than last year).

Given the share price has bottomed out and is close to an all time low this seems like a great opportunity to buy . I estimate profit before tax over 3M this year and given the market cap is not far over 5M ECV look like great value!

Is anyone else interested? Would love to hear your thoughts?!? (note, the spread is current v small and you can buy/sell at 1.7).

2012 (forecast)
Sales: £27,038,000
Parts: £2,254,000
After sales: £2,906,000
One 80: £2,202,000

Total Revs: £34,400,00

2011
Sales: £14,791,000
Parts: £2,254,000
After sales: £2,906,000
One 80: £2,202,000

Total Revs: 22,153,000

2010
Sales: £18,468,000
Parts: £3,088,000
After sales: £3,050,000
One 80: £85,000

Total Revs: £24,691,000

[opaldouglas] 31/8/2012 01:04

Its getting a little late now so i'll finish off thread over the weekend, all thoughts welcome.

OD

[opaldouglas] 31/8/2012 01:00

* Please note I no longer have a position in ECV.
ECO CITY VEHICLES.
* Updated:01.12.12

[deeppockets] 16/11/2010 08:37

This looks really positive for the company. If they can get into the Middle east - huge potential.

[m.t.glass] 30/6/2010 10:29

Comments previously reported on the Manganese Bronze thread (MNGS) appear to indicate that MB's black cabs are losing market share, some of it presumably to Eco. MNGS's share price remains in longterm decline.

[rockafella2] 30/6/2010 09:44

Latest ECV research note -

[dag1967] 14/5/2010 22:34

I wouldn't say the Vito is a good looking vehicle, but compared to this ...



well, what do you think ?

Also, IIRC, I read a while back that the head of AMG (Merc tuning division) is now in charge of their commercial division. Imagine a Vito with an AMG tuned engine ;^)

"Late for the airport Sir? No worries, it won't take long" ! lol

[m.t.glass] 15/3/2010 16:02

Neither Allied nor ECV seem to be pushing hard with plain electric vans. They seem (to me) to be more into specialised ones for disabled use (Allied) and taxi/shuttle use (ECV). Peugeot/Citroen have in the past produced and marketed a small (Berlingo) electric van, and with Ford now bringing the Connie EV into play, I wouldn't be surprised if Peugeot/Citroen revived their involvement. But I see that market as runnibg alongside what ECV and Allied are doing. For now.

[m.t.glass] 15/3/2010 15:45

I would think Peugeot/Citroen, Mercedes et al are quite happy for Allied and ECV and others to nibble away at these specialised EV niche markets for a couple of years at least. Likely to be longer than that before there is sufficient custom for mainstream players to be interested.

[m.t.glass] 15/3/2010 13:41

jamonit -- my guess is that ECV's "developed jointly by us" (the Vito taxi) merely means they helped draw up the user specification, rather than any engineering or motive design aspect. I'm only surmising though.

[m.t.glass] 11/3/2010 13:20

Nothing new in this, but it was reissued t6oday for some reason, in the SMMT bulletin. Do ECV regard themselves as a possible outlet for Allied's electric taxis and suchlike - or as a competitor?



Allied goes for electric van market

Allied Electric says it plans to tackle the electric van market. It unveiled more of its plans as Gordon Brown, UK prime minister, visited its Glasgow factory recently. The firm, part of the Allied Vehicles Group, works with firms like Peugeot, Citroen, Vauxhall, Volkswagen and Mercedes-Benz to make wheelchair accessible cars, taxis and minibuses. Its range of Peugeot Boxer-based electric vans has won government-backed deals and examples will work around the UK. Allied will also supply electric Peugeot Partner and Peugeot Expert cars and MPVs for a trial project supported by Glasgow City Council, Scottish Power, Strathclyde University and Dundee-based battery-maker Axeon.

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[garbil] 16/2/2010 08:22

Many thanks, MTG