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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Elixirr International Plc | ELIX | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 780.00 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 780.00 | 780.00 | 780.00 | 780.00 |
| Industry Sector |
|---|
| SUPPORT SERVICES |
| Top Posts |
|---|
Posted at 11/10/2024 09:12 by eagle eye Link to Elixirr Investor Presentation H1 2024: |
Posted at 29/8/2024 13:50 by mginvestor Lovely to see ELIX breaking out, how the share price has remained so cheap on a PE basis is beyond me. Maybe investors are beginning to realise that it's not all doom & gloom in MC's. In fact it may actually be very profitable being a shareholder in these type of businesses.Results end of Sep |
Posted at 25/6/2024 15:31 by masurenguy Hi eagle eye, this is a quiet thread demonstrated by the the average number of posts - circa 2 per week - and the number of visitors - see the flag counter above. Long may this status remain - there are too many threads elsewhere that contain posts with uninformed meaningless comments or are infested by trolls. A small number of intelligent and informative posters/investors makes a nice change. 😊 |
Posted at 25/6/2024 12:13 by eagle eye I attended the AGM this morning, so here are my notes.I find it very valuable to meet people first hand. Management took questions freely and I got the impression they have a clear operating model and are on top of their game. Quality of work is paramount and reputation is key. Elixirr looks for top talent and is very choosy in who it takes on. It had 4,000 job applicants last year and took on 30. I discussed how margins are improved when acquisitions are made. Much comes from improved utilization rates, plus sometimes chargeable rates had been too low. With over 500 Blue Chip clients, this provides a access to market that smaller boutiques otherwise wouldn't have access. There are several ways the company achieves new business. Referrals are a good source and repeat work, eg land and expand. People often change employer, so that can open new doors. There has been good success from leads generated directly from the website. Several sizable customers have come onboard this way. There is a team of three who focus on acquisitions and the pipeline of opportunity is strong. They were the key points. Investor Meet Company is a good source of information: Hope this is informative Eagle Eye |
Posted at 29/4/2024 16:17 by gopher I added to existing after watching presentation on Investors Meet which helped me to understand strategy much better. Well worth a look and if they continue to deliver will surely be re-rated. This is a lucrative field but City always wary of people business, they say that as they build scale and capability they reduce risk. |
Posted at 31/3/2024 00:39 by masurenguy Sector downturn could have some negative impact on sentiment amongst investors although in the January trading update Elixirr stated that their FY23 results are expected to be in line with market expectations with revenue achieving the guidance range of £85m - GBP90m, adjusted EBITDA of approximately £25.4m and year-end cash of approximately £17.9m.Why McKinsey is paying staff to leave McKinsey is offering to pay hundreds of its senior employees to leave the firm and look for work elsewhere, the latest attempt by the consulting giant to reduce staff amid a sector-wide downturn. If the employees have not found a new employer by the end of the nine months they have to leave the firm. Consulting firms enjoyed a boom during the pandemic, when companies sought their help on how to digitise their operations. However, companies that are facing tough economic circumstances have since cut back their spend on expensive corporate advice. The firm also said that it booked a record $16 billion in revenues last year. |
Posted at 29/12/2023 11:29 by mginvestor Funny world this investing is, no one wanted to buy ELIX when the PE was below 15 for quite some time. Now investors are paying more than the offer to get some. Someone just bought 2343 shares at 640p whilst the offer is still 625p. Strong level 2 despite several days of gains.Expecting 2024 to take out our previous highs comfortably. If a company can deliver strongly since IPO despite the general market being gloomy it's all a matter of time before they get noticed. |
Posted at 12/12/2023 18:02 by masurenguy Elixirr was established in 2009 and has become an award-winning global consulting firm working with a wide range of clients across a diverse range of industries and geographies. With roots in strategy consulting, the firm’s capabilities today range from business model innovation to digital transformation. The company listed on AIM on 9 July 2020 @217p per share raising gross proceeds of £20m for the company via an oversubscribed placing of 9,216,590 new ordinary shares and £5m for the selling shareholders (partners) via a placing of 2,304,148 ordinary shares. Consequently, the company's market capitalization at the placing price on Admission was £98.1m.Elixirr has a capital-light business model with strong momentum and currently it is the fastest growing management consultancy in the UK and the third-fastest in Europe. It has increased its market share every year since 2011 and most recently posted organic revenue growth of 18% in 2022, with an adjusted EBITDA margin of circa 30%. Sales and EBITDA have both increased by circa 250% in the 3 years since listing on AIM and the current market cap is circa £225m (Dec 2023). Last interim results, published on 18/09/2023 were as follows: Current share ownership, as at 25 Octpber 2024, is as follows: Institutional Investors Rathbones Investment Management Ltd: 4,342,901. 9.30 % Slater Investments Ltd: 3,438,203. 7.36 % Gresham House Asset Management Ltd: 2,275,980. 4.87 % Chelverton Asset Management Ltd: 922,000. 1.98 % JPMorgan Asset Management (UK) Ltd: 778,791. 1.67 % Sub Total: 25.18% Major Inside Investors Stephen Newton: 11,702,408. 24.3 % Ian Ferguson: 2,240,383. 4.6% Andrew Curtis: 1,367,651. 2.9 % Graham Busby: 1,269,390. 2.6 % Brandon Bichler:1,269,390. 1.4 % Sub Total: 35.8% Here are two excellent pieces of analysis on the company from existing private investors: Harry Davis: ariquelme: A link to the preceding thread: Company Website: Flag counter added on 3rd March 2024 |
Posted at 07/12/2023 13:00 by masurenguy Very interesting company. Current institutional and inside shareholders.Institutional Investors Rathbones Investment Management Ltd: 4,342,901. 9.30 % Slater Investments Ltd: 3,438,203. 7.36 % Gresham House Asset Management Ltd: 2,275,980. 4.87 % Chelverton Asset Management Ltd: 922,000. 1.98 % JPMorgan Asset Management (UK) Ltd: 778,791. 1.67 % Sub Total: 25.18% Inside Investors Stephen Newton: 13,239,895. 28.36 % Graham Busby: 1,374,800. 2.94 % Andrew Curtis: 1,367,651. 2.93 % Brandon Bichler: 712,191. 1.53 % Eric Rich: 671,769. 1.44 % Sub Total: 37.20% No position but onto my watchlist. |
Posted at 06/11/2023 11:41 by simon gordon On the iOLAP website they have twenty vacancies, business must be strong.Thought this a decent summary: Investors Chronicle - 7/9/23 A capital-light consultancy with excellent momentum Boutique consultancies do not often crop up on the public market. Pay attention when they do. by Jemma Slingo “The concept of a structured work-life balance almost seems to be expected in today’s society – especially in a typical 9-to-5 role, but I think it should be seen as a privilege.” So says Stephen Newton, founder and chief executive of Elixirr (ELIX), a management consultancy that joined Aim three years ago. It’s a fitting message from an entrepreneur set on driving growth and trimming the fat. Elixirr presents itself as a new breed of management consultancy. It used a recent ad campaign to lampoon the industry’s jargon, swagger and reliance on under-experienced Oxbridge graduates, and continually stresses its “challenger&rd Punching above its weight With a market cap of under £250mn, Elixirr is small – even compared with specialist listed consulting peers such as Alpha Financial Markets Consulting (AFM) and XPS Pensions (XPS). However, it benefits from a similarly capital-light business model and excellent momentum. Indeed, according to Investec, Elixirr is the fastest-growing management consultancy in the UK and the third-fastest in Europe. Having increased its market share every year since 2011 and posted organic revenue growth of 18 per cent in 2022, Elixirr has momentum. With an adjusted Ebitda (earnings before interest, tax, depreciation and amortisation) margin at around 30 per cent, it is also profitable. The company was founded in the aftermath of the financial crash, and originally focused on financial services work, which is Newton’s area of expertise. Around half of group turnover still comes from the sector, but Elixirr is rapidly diversifying, and its 200-strong client base now includes names as varied and big-ticket as Diageo, LVMH, Tesla and Burger King. The fact that big names are on board suggests this youthful small cap is an increasingly viable alternative to the ‘Big Four’ professional services firms and strategy houses such as McKinsey, Boston Consulting Group and Bain, which together account for almost half of the market. A lot of the people who work at Elixirr cut their teeth in this world, so they know what they’re up against. Newton was formerly a managing partner at Accenture, while chief financial officer Graham Busby worked in Accenture’s ‘global mega-deal’ department. The quality of the wider management team is also encouraging, with former BT chief executive Gavin Patterson acting as non-executive chair. The big question is whether Elixirr can keep luring talented people away from the corporate behemoths. The group has about 500 consultants but just 21 of them are client-facing partners. As partners generate the biggest invoices and bring in most of the work, swelling their ranks will be crucial for growth. In this sense, Elixirr has a lot in common with Keystone Law (KEYS), whose success relies on a team of 400 senior solicitors and which has seen recruitment slow down in recent months. However, while Keystone’s self-employed “principals&rd Management claims that partners can earn 80 per cent more at Elixirr than they could at a big rival firm because, while cash remuneration is lower, the money saved on pay packets is pumped back into the business, fuelling equity returns. “By investing £3.2mn in the business over five years and assuming 25 per cent compound annual growth rate (CAGR) share price growth, each partner can achieve an equity return of £7.2mn,” declares Elixirr, which loans new partners £500,000 to buy shares. It concludes that over a five-year period a partner can earn £9mn (including cash remuneration) compared with £5mn at a Big Four firm. Non-partners are also strongly equity incentivised via share options and an employee share purchase plan. On the one hand, this approach makes a lot of sense. One of the big conundrums posed by listed people businesses is how to align the interests of partners with those of external investors. Why would partners want to return profit to shareholders if they could distribute it all among themselves? Elixirr’s focus on equity means everyone is singing from the same hymn sheet. However, its logic falls apart if shares head south and partners watch their pay prospects wither. Share dilution is therefore something to watch for. Management stressed that the “value created from our equity incentive schemes far outweighs the potential dilutive effect” and analysts note that there has been no material dilution to the share count since April 2021. As the business keeps scaling up, however, it remains a risk. Growing pains Organic growth is not Elixirr’s only option, of course. It recently deployed some cash to acquire iOLAP, a US consultancy specialising in data and analytics. The deal makes strategic sense and is reminiscent of Alpha FMC’s Lionpoint purchase. Elixirr now has a sizable presence in the US, home to the world’s biggest consultancy market, and should benefit from plenty of cross-selling opportunities. It’s not easy to scale up a business at pace however, and Alpha FMC’s recent performance spotlights some of the problems that Elixirr could face. Fears about under-utilised consultants marred Alpha FMC’s latest annual results, where the group cited industry-wide “increased levels of competition as a result of overcapacity”. Its shares have fallen by 25 per cent since the start of the year after a bumper three-year period. Elixirr has a more varied client base than Alpha FMC, but it is not immune to market conditions. Staff costs as a percentage of revenues have risen over the past four years, and margins could suffer if work dries up. To make things worse, it is tricky to predict when or if a downturn is coming as contracts only last for four to eight weeks on average, limiting visibility and management’s capacity to plan. The firm’s resilience has been tested before, though: in 2020, the group achieved revenue growth of 24 per cent while the consulting market as a whole shrank by 18 per cent. Elixirr’s balance sheet is also reassuringly robust. The group has a net cash position, despite several acquisitions and dividend payments, and operations have proved reliably cash-generative so far: standard payment terms require settlement of invoices within 30 days of receipt, and the majority of trade receivables are less than 31 days old. Valuing potential Elixirr's share price has risen by 165 per cent since its IPO, so potential investors can be forgiven for feeling as though they’ve missed the boat. Small-cap valuations are slippery at the best of times, and the lack of publicly traded consultancies – together with a dearth of analyst coverage – makes valuing Elixirr even harder. However, there does appear to be a disconnect between its growth prospects and its price/earnings (PE) multiple. Analysis by Investec puts Elixirr on a PE ratio of 15.4 for the 2023 calendar year, despite a forecast sales CAGR for 2022-24 of 17 per cent. By contrast, Alpha FMC is expected to grow by 10 per cent but trades on a PE ratio of 18.1. Some will argue that Elixirr is cheap because it is small and risky. It has a short track record on the public market and is not widely covered by analysts. It is also exposed to partner and client exits, and its top three clients account for about a fifth of sales. On balance, however, the risk-reward balance looks enticing. As a capital-light sector challenger, Elixirr’s momentum could well persist for years to come. Taken together, profitable growth, a burgeoning client base and US expansion plans make for an intoxicating mixture. |
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