Eurodis Elect. Share Discussion Threads

[the knowing] 27/1/2005 11:04

500K @ 1.7 !!???

[ed winchester] 27/1/2005 10:59

there are 7 market makers for eurodis.. here is a snap shot of level 2 :


Volume: 1,650,000 Volume: 1,650,000
Depth: 7 Depth: 7
Avg Size: N/A Avg Size: N/A
VWAP: 1.47 VWAP: 2.14

2 750000 1.55 - 1.70 250000 1 (yellow strip)

Time Name NMS Price Price NMS Name Time
08:35 EVO 250000 1.55 - 1.70 250000 KBC 07:53
10:46 KLWT 500000 1.55 - 2.00 150000 JEFF 08:35
07:32 MLSB 200000 1.50 - 2.00 150000 WINS 10:41
08:35 JEFF 150000 1.50 - 2.05 500000 KLWT 10:46
10:41 WINS 150000 1.50 - 2.25 150000 ABNV 07:57
07:53 KBC 250000 1.30 - 2.50 200000 MLSB 07:32
07:57 ABNV 150000 1.25 - 2.55 250000 EVO 08:35

[youngers] 27/1/2005 10:58

Thanks guys

[the knowing] 27/1/2005 10:55

Youngers 2 want to buy your stock and 1 wants to sell it to you. The more that want to buy the stronger it is. When the 1 that has stock to sell end's up selling all he has at that level they move the price up.

In this case it looks like the price could rise.

[ed winchester] 27/1/2005 10:54

just bought a further 600,000 @ 1.58p

[ed winchester] 27/1/2005 10:53

youngers

level 2 states the all the market makers and what they are quoting.

so when i say 2 v 1

it means there are 2 market makers are quoting 1.55p
and 1 market maker quoting 1.7p

[youngers] 27/1/2005 10:50

Ed can you explain what you mean by level 2 and 1v1/2v1

Thanks

[addicted2shares] 27/1/2005 10:49

(Updating with further details on H1 performance, dividend)
LONDON (AFX) - Eurodis Electron PLC, a pan-European distributor of
electronic components, said its first half results were in line with
expectations as it narrowed pretax loss.
The company also announced the appointment of senior non-executive director,
Bill Alexander as group finance director with effect from Feb 7. He will replace
Peter Grant, who has stepped down from the board and, after a handover period,
will leave on Feb 12 due to family health reasons.
Chairman Doug Rogers said: "The group continues to make progress. The level
of trading losses is substantially reduced from the prior year.
"Notwithstanding the competitive environment, we expect to gain some
business from new franchise arrangements, from our increasing participation in
high growth areas such as wireless and power supply technologies, and from the
alliances with our business partners ATeG (Advanced Technology Group) and WPG
(World Peace Group)."
He said the reduction in operating costs has materially reduced the
breakeven point, which will help return the business to profitability in due
course.
Gross profit margin was in line with expectations at 17.1 pct, against 15.9
pct the year before, before non recurring costs.
Eurodis said it is continuing to review the operating cost base to ensure it
is aligned with requirements without affecting sales reach and additional
savings of 6 mln eur per annum are being implemented to reduce the operating
cost base to an annual run rate of below 63 mln eur.
It said exceptional and non recurring costs from these cost reductions
amount to about 5 mln eur, of which 2.7 mln eur has been charged in the first
half.
Net borrowings as at end November fell to 56.8 mln eur from 82.4 mln the
year before, mainly due to the equity issue in March last year 2004.
The net debt levels are within market expectations and it is expected that
there will be adequate headroom going forward, the company said.
Eurodis is not paying dividend for the period and does not anticipate paying
any dividend on the preference shares for the foreseeable future. The dividends
on the preference shares accumulate and must be paid before any payment of
dividends to holders of ordinary shares, it said.
In the six months to November, sales dipped to 154.6 mln eur from 171.4 mln
the year before but pretax loss narrowed to 13.2 mln eur from 29.8 mln or 9.0
mln stg from 20.7 mln stg before.
[e-mail]
ra

[the knowing] 27/1/2005 10:49

Lets see if the blue theme can be maintained;-)

[ed winchester] 27/1/2005 10:46

thanks chiansaw

level 2

1 v 1

[kiwihope] 27/1/2005 10:46

prices and limits all over the place at the moment ... barclays now quoting 1.58 to buy AND sell ...

[chiansaw] 27/1/2005 10:43

He's right

ComD

1.58 offer to 500k
1.55 bid to 2.5 mill...looks like some big buys in system imho

[kiwihope] 27/1/2005 10:42

I think you can only say the business is 'improving' simply because it isn't getting any worse! Look at these results compared to the previous (I don't know how significant seasonal effects are ... I expect Xmas is quiet so H2 may be poorer than H1, but the major upset to this business over the last 2-3 years probably outweighs that):

H1 05 vs H2 04 (M Eur)

Sales: 154.6M vs 156.5 (-1.2%)
Gross Profit: 26.5 vs 25.1 (+5.6%)
Operating Profit: (10.3) vs (15.6) (34% lower loss)
NAV: 31.6 vs 35.7 (-11.5%)

Sales are very similar; the lower loss is due to better gross margin, lower overheads and lower interest charges. If sales and margins held flat for the next 6 months the even lower overheads (say 31M per 6-mth) would give an operating loss of about 7M. This is probably the best that can be done by cost cutting. So to get to breakeven we need an increase in sales ... this is the critical thing to watch now.

[ed winchester] 27/1/2005 10:30

you sure you got the quantities right ?

[realcooltrader] 27/1/2005 10:28

Ed, comdirect back to weird:

Bid 1.57p 2.5m
Offer 1.56p 500k

[the knowing] 27/1/2005 10:23

I personally believe that the best returns can be made from stocks that have fallen so far they then rise significantly. I bought a few of these yesterday after seeing Westy in here too. Another one to look at is ASR.That seems to be moving too.

It is going to be the big boys that move this one for sure. They previously bought in on the promise of a turnaround and that has been delivered in these figures.

[muxdapanza] 27/1/2005 10:23

anyone willing to guess how much doug will invest this time?

My guess is £25k

[youngers] 27/1/2005 10:21

The next set of interims will be very interesting. With this being two quarters coming off a stated bad quarter at the end of the 2004 year end, you don't really know whether trading is flat over the period or improving, although I suspect it is improving. The next interims will give a conslusive answer on this.

[ed winchester] 27/1/2005 10:18

level 2 :

1 v 2

EVO on the bid
WINS and KBC on the offer


online limits still the same ?

[greenwellsglory] 27/1/2005 10:17

for us unfortunate long term holders and i include the institutions as well we spent 2003 and 2004 waiting for the company to go bust.well all may not be as rosy as we would like but i think we can forget that particular 'b' word.looks like the Doug magic is starting to work

[ed winchester] 27/1/2005 10:10

cheers kiwi. as always nice to have your analysis

[dyfiman] 27/1/2005 10:09

Good morning to all holders.......

ELH not such a disaster area after all. Much to be done, but seems they are on track and what a sensible fella DG seems to be.
Also taking heart from the fact that Mr Kiwihope is back in albeit in a smallish fashion. He knows the market and has been more than astute on ELH in the past.
Sit tight and best wishes all.
Regards.
END

[kiwihope] 27/1/2005 10:01

yes I have ed. It's only a small speculative position bought first thing at 1.52p (nothing like I had). Everything I've said still holds and I wouldn't make these a core holding again, but I am quite impressed by the results. The performance compared to the previous 6 months is encouraging, as is the cashflow at operating level. It looks like at last the business has been stabilised and with a fair wind can move forward. I make it an increase in sales of 17% to 180M Euros per 6-months is needed to achieve operating level profitability ... much better than previously and quite realistic I think.