Facilities By Adf Share Discussion Threads

[lennonsalive] 04/8/2023 13:14

Dave Just asked a question. I thought this was a free speech balanced thread?

[lennonsalive] 04/8/2023 00:31

Dave what do you reckon with Adf and ebita?

[disc0dave45] 03/8/2023 16:53

Oh by the way, I'm not Eezymoney, think you are a tad confused!.Do like the look of TEP, have been for a while but somehow the market doesn't seem to agree, thoughts?.

[disc0dave45] 03/8/2023 16:49

Nah just giving back some to those that hand it out but can't take it :)

[disc0dave45] 03/8/2023 16:47

Saddo don't forget 96 and 98.I do feel for you masurenguy.....no I don't really xxxx

[nakedmolerat] 03/8/2023 16:47

dave, calm down you'll bust a blood vessel

[disc0dave45] 03/8/2023 16:39

You forgot 90, 91 and 93.And you pay how much to do this?, think you would be better off investing that money in something decent, not that you'd know what a decent investment is in the first place xxx

[disc0dave45] 03/8/2023 16:30

Hey saddo, don't forget my other posts xx

[scotchbroth] 03/8/2023 14:02

FY24: Turnover 58.0m

[adamb1978] 03/8/2023 13:54

Thanks Rivaldo/Scotchbroth for the forecasts - what do they put 2024 turnover as?

You obviously have to ignore 2023 figures if you're going to own/buy ADF and focus on 2024 figures, which make it look cheap on a PE basis. I'm increasingly focussing on cash, particuarlyl for this sort of business.

On a FCF basis, I still don't think it looks startlingly cheap unless you 'normalise' for the difference between cash outflows for leases which are obviously driving future, higher turnover. On that basis, I think its looking interesting at these levels.

Adam

[ali47fish] 03/8/2023 13:24

well a certain tip has not signalled something untoward- i hope this doesn't happen!

[scotchbroth] 03/8/2023 10:10

Cenkos also said ADF oversold given they believe strikes will resolve by the year end. They forecast FY24 Adj eps of 9.6p giving FY24 Adj PE of 4.8 with share price at 45p.

[rivaldo] 03/8/2023 09:38

Well, that was the most predictable profit warning in history (aside from CLX's)!

Cenkos have reduced this year's forecast to 1.6p EPS and a P/E of 27.5.

Forecast net debt has been raised to £18.9m (from £14.5m).

All now depends on the outcome of the writers' strike and how long it lasts. Until there's a resolution I can see the share price drifting at best and otherwise falling further, so I'm unlikely to be re-entering here until that's in sight.

[farukequity] 03/8/2023 08:55

Can get a directional steer on EBIDTA to PBT flow through from May Finals no?

[adamb1978] 03/8/2023 08:45

I understand that people would prefer to see companies guide at a level below EBITDA, and particularly for ADF given the lease costs.

However there's a trade off:
- costs above EBITDA are easy to know quickly, so guidance can be given quickly
- below EBITDA brings in needing to assess whether carrying values of assets need to be impaired, the various inputs to tax calculations etc

For ADF, I think EBITDA guidance is very, but per EezyMunny, some commentary about leases costs (which go through D and I) alongside it would be good

(not a holder)

[ali47fish] 03/8/2023 07:55

masure how come no comment on the rns

[masurenguy] 03/8/2023 07:46

Half year trading update and Notice of Results

Facilities by ADF provides an update on trading for the six-month period ended 30 June 2023.

ADF delivered a strong financial performance in H1-FY23, with high levels of fleet utilisation following on from a solid finish to the financial year ended 31 December 2022. The Company currently expects to report H1-FY23 unaudited revenues of £21.8 million and unaudited adjusted EBITDA of £5.8 million. The Group remains strongly positioned in its markets and the Board remains confident in the Company's future prospects with ADF remaining focused on investing in its offering and people to deliver its growth strategy, whilst also targeting further high-quality complementary acquisitions.

Much has been publicised in the media about USA Writers (Writers Guild of America (WAG)) and Actors (Screen Actors Guild - American Federation of Television and Radio Artists (SAG-AFTR)) strikes which have been impacting productions around the globe. As the strikes have drawn on, several film and TV productions in the UK, on which ADF is currently engaged, have seen stoppages or delays to productions that were scheduled to start filming in autumn 2023, having now been pushed into early 2024 commencement. Notwithstanding the above effects on productions affected by the USA strikes, revenues from the Group's unaffected UK productions and pipeline are expected to generate revenues for the full year ending 31 December 2023 of between £35 million and £40 million, assuming there is no resolution to the strikes in the current financial year. ADF continues to assess the impact on its planned work programme for the remainder of the financial year in conjunction with its production company contacts. Any alleviation of the prevailing strike action will provide the potential for further upside in the current financial year.

The Company expects to provide a further update at the time of its H1-FY23 interim results which will be published in mid-September 2023. As the industrial action normalises, the Board is confident that there will be significant levels of pent-up demand for film and high-end television productions, akin to that seen post the initial onset of the COVID-19 pandemic, and that the Group is well placed to benefit given its market leading position.

Marsden Proctor, CEO, said:"The Group delivered a strong first half, building on momentum from the prior year. Whilst the Writers and Actors strike is causing a short-term impact across our entire industry, as a Board, we are confident the Group is in a strong position to capitalise once previous productions level resume, and therefore remain very confident in the long-term success of ADF."

[disc0dave45] 20/7/2023 10:24

MG getting excited that out of 100 million Netflix sharing password users they only gained 5.9 million more subscribers in their clampdown on password sharing.They've also said they would spend less on content this year than expected as a result of the walkout - the industry's biggest in six decades, while boss Ted Sarandos said "we need to get this strike to a conclusion".Profit warning on its way IMO.

[masurenguy] 20/7/2023 08:00

Netflix gains more new subscribers than expected following password-sharing crackdown
Streaming giant added 5.9 million new subscribers in last three months after clamping down on users sharing accounts

[nakedmolerat] 14/7/2023 10:04

hi dave, thanks for sharing

[eezymunny] 14/7/2023 07:19

From ZOO

"First quarter FY24 trading has been impacted due to a well publicised hiatus in the normal flow of orders across the industry, resulting in lower revenues than previous management expectations in a quarter that the Board already expected to be weaker than the previous year.

This has been caused by two short-term market factors that are affecting the wider industry. Firstly, several of ZOO's major streaming company clients have for some months been implementing cost-saving measures and reorganising their operations as the industry evolves and confronts higher levels of competition, leading to the deferment of some costs. Secondly, the Writers Guild of America strike is in its third month and this is now having an impact on the levels of localisation and media services work on new titles."

Look out below?