Empresaria Share Discussion Threads

[gripfit] 26/1/2023 15:55

Your welcome… more to come I suspect ..

[casholaa] 26/1/2023 15:39

@gripfit, well done, you know how to pick a winner buddy. I'm going to keep hold of these for a while. Thank you.

[casholaa] 26/1/2023 09:44

Their Offshore Services figures have probably saved them here.

[gripfit] 26/1/2023 07:57

I like the reduction in debt … very much .

[jeff h] 25/1/2023 21:04

Trading update is tomorrow (26th)

[casholaa] 25/1/2023 20:26

That would be very nice.

[gripfit] 25/1/2023 19:38

It’s undervalued … should be double this current price…

[gamwah] 25/1/2023 15:57

There was a trading update on 27th 2022, bit of movement in last couple of days in anticipation of the update maybe?.

[gamwah] 14/10/2022 14:14

https://www.empresaria.com/blog/2022/09/empresaria-group-plc-named-on-sias-2022-list-of-fastest-growing-us-staffing-firms?source=linkedin.com

[gripfit] 30/9/2022 12:47

Need some director buys

[davebowler] 12/8/2022 08:42

Cenkos-
Empresaria (BUY, EMR.LN, 60.5p, Market Cap £30m) – We initiated on this specialist staffing business this week DOWNLOAD. Cognisant that near-term market sentiment remains cautious towards the recruitment sector, but would draw attention to the structural growth drivers, geographic and sector diversity of the business model and the uniqueness of its Offshore Services offering (which delivered 91% NFI growth in H1). We like the mix of the business, with a presence in the four largest staffing markets (US, Japan, UK and Germany) and its bias towards temp. The interim results saw both solid net fee income growth (+15%) and an improved balance sheet position, with adjusted net debt declining by £3.2m to £10.8m. It remains optimistic about the year ahead and expects profits for FY22E to be in line with expectations. In our view, the current valuation underestimates the overall resilience of the model and on a FY23E PE of sub 7x, the discount to peers looks too wide.

[harrogate] 12/8/2022 07:06

I see that the Company did buy my shares. Of course they are really the only buyer. And they are not buying and cancelling but issuing under option schemes. So no EPS increase. Good luck everyone here.

[harrogate] 11/8/2022 09:37

I sold all my remaining holding here this morning and was very surprised to be able to do it above quoted price. There must be a decent sized buyer around or maybe the Company is in the market again. Decent results but just think this might be close to best trading environment for recruitment for a while.

[gripfit] 28/7/2022 14:17

Cheap @ £1

[gamwah] 28/7/2022 09:45

Mcap 30m, forecast 8m PBT, net Debt 10m in line, offshore going really well. Slight concerns with Germany and other countries?. Thought this would be higher as seems cheap?

[davebowler] 28/7/2022 09:22

Singer ;
Strong H1 outturn with FY expectations reiterated Empresaria’s H1 update highlights NFI growth of 15% YoY to £32.6m (+15% in constant currency), with adj. operating profit also expected to be ahead YoY. Competition for talent intensified during H1, with high demand from clients combined with talent shortages and rising inflation. The recruitment landscape is therefore incredibly competitive, with the increased volume of available roles offset by a lack of candidates and increased levels of counter or competing offers. After a strong start to the year, the statement reiterates expectations for the full year. Whilst there is a note of caution around the potential impact of global macro uncertainties, management continues to see a positive medium term outlook and it continues to invest in its operations, with headcount up 5% (exc. Offshore Services which has grown headcount by 36%). Against a supportive demand outlook, we believe a Dec. ’22 P/E rating of 6.9x continues to look undemanding. We maintain our Buy recommendation. Event Empresaria’s H1 update confirms net fee income growth of 15% YoY to £32.6m (up 15% in constant currency), with Offshore Services up 94% and permanent placement up 23%. Adj. operating profit is also expected to be ahead of the prior year. The competition for talent intensified in H1. High demand from clients combined with talent shortages and rising inflation means that the recruitment landscape has been incredibly competitive. This provides both opportunities and challenges, with the increased volume of available roles offset by the lack of candidates and the increased levels of counter or competing offers. Global macro uncertainties are increasing and the impact of growing inflation in many of Empresaria’s markets is yet to be fully realised. It is yet to see any significant adverse impact, although it has seen some localised issues such as supply chain challenges for its clients in Germany. Adjusted net debt at 30th June 2022 reduced to £10.8m (31st December 2021: £14.0m) with headroom increased to £14.8m. The improvement reflected both the profit performance and a shift in mix towards permanent placements, which have a lower working capital requirement. Profits for the full year are expected to be in line with expectations. Empresaria continues to invest in its operations, growing headcount where it sees strong opportunities for growth, and continuing to invest in technology to improve its speed to deliver and provide greater productivity. It is also investing in its Offshore Services capacity. Overall headcount increased by 5% during H1 vs. the end of 2021 (exc. Offshore Services which has grown headcount by 36%).

[gripfit] 21/3/2022 12:14

Great results rubbish share price… you really couldn’t write it …

[km18] 17/2/2022 14:23

...from last year...

Company overview:Empresaria Group was founded in 1996 and is a global specialist staffing solutions provider operating in 6 sectors across 19 countries. The difference here lies in the focus on 6 sectors, not on everything which can be said for many of the competitors. EMR covers IT, Healthcare, Property, construction and Engineering, commercial, Professional and Offshore Recruitment. The group offers the full menu including temporary and contract staffing, permanent placement, executive search and recruitment process outsourcing. Strategy wise company is working on shifting its portfolio to 70:30 temp/perm to promote stability in profits. Several acquisitions have been made between 2010 and 2020, which as we know is transformed usually on the balance sheet under the goodwill section with the figure standing just above 26% of total assets. We should note that recent impairment of £5m (driving the Net income for 2020 in the red) should keep us at bay for the coming years. On a more positive note, growth has not been based on acquisitions only, as the company is actively investing in the technology facilitating the process for them and their clients.
a quick look on the results from 2020 confirms what we know was the trend. Lower revenue which as we already mentioned was impacted by impairment bill, making net income negative. The group wins a good mark on resilience as they did not lay on the shoulders of the shareholders and managed to retire debt and shares while still generating a positive cash flow. Latest update for the H1 2021 brings more points on the score board mainly from operational efficiency. The lower revenue of £129.8m (compared to both 2020 and 2019) was transformed in a higher profit before tax than the Covid-free 2019, not to mention the negative 2020. As a result, adjusted and diluted EPS are higher than the 2019 by 24% and 14% respectively. The lower revenue is explained by “the exit from loss-making operations and challenging  aviation industry”. The strong trading of H1, improving global economic conditions and operational improvements are a solid base for managements statement that they expect profits for the full year to be “significantly ahead of prior and current market expectations”...from WealthOracleAM

[gamwah] 02/2/2022 16:23

Bought a small amount more on drop today, seems really undervalued here!

[harrogate] 27/1/2022 07:46

They keep telling us good things. Undershoot on net debt looks impressive to me and given markets they are in 2022 should be good too. This really should be over a pound. The CEO seems impressive and focused and bringing some cohesion to the ragbag of businesses the previous management collected.

[gripfit] 22/12/2021 08:52

if you think this is going to do well with the recruitment sector on fire, Staffline should be a beneficiary aswell . ( i hold both)

[harrogate] 21/12/2021 09:39

Agreed. Per Singer note they are now on FY21 PE of 8.2 x. Given momentum it will be interesting to see what 22 looks like and while recruiters of this type never get high multiples this must be worth over 100p

[deadly] 21/12/2021 08:54

Shold be trading at a new high instead of languishing

"...Empresaria has continued to deliver a strong trading performance across multiple sectors in the final quarter of 2021. As a result, profit before tax for the year ending 31 December 2021 ("FY21") is now expected to be materially ahead of current market forecasts."

[davebowler] 26/10/2021 09:50

Singer -
Empresaria has experienced continued strong trading momentum, increasing into H2 as the Group continues to realise the benefits from operational initiatives and the improved economic environment. As a result, full year NFI is expected to be in the range of £57m-£59m with adj. PBT in the range of £7.4m-£7.9m. We take the mid-point and increase our PBT forecast by 14% to £7.7m. Given recent progress, the outlook looks increasingly positive for the Group, with an improving end market backdrop and continued benefits of recent operational initiatives. On FY21 earnings, the shares trade on a P/E rating of 11.5x, which looks undemanding against increasing evidence that a full recovery can be delivered.