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Share Name Share Symbol Market Type Share ISIN Share Description
Facilities By Adf Plc LSE:ADF London Ordinary Share GB00BNZGNM64 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  3.00 4.76% 66.00 61,804 16:35:07
Bid Price Offer Price High Price Low Price Open Price
63.00 66.00 66.00 64.00 64.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 27.80 2.80 50
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:07 UT 106 66.00 GBX

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DateSubject
03/7/2022
09:20
Facilities By Adf Daily Update: Facilities By Adf Plc is listed in the Media sector of the London Stock Exchange with ticker ADF. The last closing price for Facilities By Adf was 63p.
Facilities By Adf Plc has a 4 week average price of 54p and a 12 week average price of 54p.
The 1 year high share price is 88.50p while the 1 year low share price is currently 52p.
There are currently 76,000,000 shares in issue and the average daily traded volume is 91,245 shares. The market capitalisation of Facilities By Adf Plc is £50,160,000.
01/7/2022
08:20
rivaldo: Cheers - here's what Robbie has to say. Very encouraging to hear the positive vibes from industry insiders: "Trade of the day idea vote of the people went to Vikesh for Facilities by ADF, (ADF) We were lucky to have a couple of very experienced TV and film professionals who both confirmed new productions were booming especially with new channels like Paramount. That's important for ADF which runs the trucks and equipment needed for outside filming. Both pros also gave the thumbs up to ADF which apparently has a good reputation in the industry. A good look at the fundamentals reveals a company in great shape. It seemed an excellent one to buy on the dips after the big sell off in small caps. ADF should recover back to the 80s in time which is where I think it belongs."
12/6/2022
15:54
yasx: Eezy, Tea drinking might not be cyclical, but that was not my point - you clearly have an inability to read. I did state that Camellia would continue to feel the impact of higher energy prices/ fertiliser costs. Are you denying that? Take the scenario in which energy costs rise further still. Have you factored in that 'possibility' as you do with ADF? The reality is rising energy costs and logistical issues being a problem for Camellia is a strong possibility since the Co. has itself conceded that. On the other hand, reduction in demand for ADF's services is unlikely since the Co. has indicated that looking forward things are looking increasingly strong with good visibility. That is why ADF shares are performing (in relative terms) far better than your top selection Camellia, which has been on a downtrend for the past five years with a charitable trust having a majority holding thus ruling out the prospect of a bid which is the only potential upside scenario i can see for that one. You need to learn the basics and only then start offering commentary on shares. The probability of a possibility occurring is what needs to be looked at. The probability of a possible slowdown in demand for ADF's services is low. Put the spectacles on and cease acting like the resident clown. Hope that helps.
11/6/2022
19:57
adamb1978: There's the possibility of the world ending tomorrow, but I wouldnt factor that into my investment decisions! Regarding customer demand for ADF, the chances of it being low are remote IMO. Their customers are battling for subscribers at the moment and I cant see that changing for the next few years. The thing which keeps customers is original, new and exciting content. Any of ADF's customers which doesnt invest in content will be dead in the water and quickly. I wouldnt want to own the shares of a pure-play ADF customer, but ADF are on the other side of that dynamic and very well positioned IMO
06/6/2022
14:09
adamb1978: Following on from the above post, I think in these sort of conditions you want to look more at performance of the busienss and less on the share price. If the business is executing well and growing then ultimately when the market gets into a more risk-on mode, the share price will re-rate and probably quite quickly. However at the moment, nothing is good enough for Mr Market so kind of just need to tune out and be patient
11/5/2022
11:49
someuwin: Cenkos in February.. "ADF have already guided towards exceeding expectations for FY21E. Following a strong end to the year, ADF now expect revenue to come in at c£27.8m (10% ahead of our £25.2m forecast) and adjusted EBITDA at £7.5m (17% ahead of our £6.4m forecast). ADF find themselves in a truly unique part of the market where they are at the epicentre of the battle for content between mega-cap streaming companies, and we see that clearly today with the demand for their services continuing to grow rapidly. In our view, the previously released scenario analysis becomes increasingly relevant and we believe a fair value range for the share price is 85p-106p."
20/4/2022
10:28
ramlamb: Netflix subscribers falling dramatically, the Netflix business model has issues with password sharing among subscribers so less income. Stands to reason ADF share price will suffer as 25% of their income is via Netflix, probably less work in the future.
21/3/2022
11:27
rivaldo: The new issue of SCSW is now out, so it should be OK to copy some extracts from the prior issue, which had ADF as its main tip: Https://www.scsw.co.uk/article.php?id=9267 "The average age of the fleet is only 2.5 years. Such a comprehensive and high quality fleet means that ADF has become the supplier of choice for large scale and quality productions, says Proctor. Scale is a barrier to entry; Proctor says it would cost £40m and take 3-4 years to replicate the business fleet and any would-be-assailant would need costly specialised equipment and workshops to modify them (interior fit out, plumbers, electricians etc) and make them suitable for use." "Most of the work tends to be repeat from the same client base, which includes Netflix, Disney, Apple, Amazon, HBO and NBC (Sky). The top four clients represent 55% of sales. Proctor says demand is running so high at the moment that whereas it historically used to be booked 3-4 months ahead of filming starting, bookings are now made 6 months in advance." "Changing requirements add 80% to contract Clients almost always change their requirements in the run up to filming and ADF has a track record of regularly boosting sales and profits as contracts become bigger than the original specification; in the five years pre-Covid, additional vehicles on average added 80% to the size of the original win. To give an example of just what has been happening, take the example of Netflix’s The Crown, which had a production budget of £100m for the first series; by the time they filmed series 5, it had risen to £194m and they insisted on the same ADF team to handle the work. Facility vehicle spend for Series 1 was initially guided at £0.6m but additional requirements meant this more than doubled to £1.3m. The same has been true for each subsequent series - only bigger. Series 5, initially estimated at £2m, ended at £3.9m. The increasing size and length of productions means that not only is there a greater need for a bigger fleet but the revenue per job is increasing - the firm’s average revenue per production has more than doubled in the last three years to £607,000 as programmes and films have become longer and more complex. Facility vehicles represent around 2% of the cost of production, which is why clients tend not to quibble on the pennies." "Due to the material increase in the consumption of film and TV through streaming services, all the major US streaming companies have set up permanent bases in the UK, taking out studio leases of 10 years or more. ADF recently signed a 15 year lease at a site in Longcross, which will become its main operational centre and is one mile away from Netflix’s studios. Other studios in the vicinity include Shepperton (also leased by Netflix), Pinewood (leased by Disney) and Elstree (Sky)." "For this year ending December 2022, Cenkos forecasts £3.7m pretax profit with £5m next year. This allows for a larger PLC central cost base as well as higher director emoluments, which temporarily drives deleverage of EBITDA margin. But I feel that profit is not necessarily the correct measure of progress at ADF because of this high depreciation charge on the equipment, running at c. 10% of sales, which disguises the large and stable cash generation. Instead, EBITDA (earnings before interest, tax, depreciation and amortisation) is a better measure. Cenkos is forecasting EBITDA to run as high as £7m or 9.2p a share this year and £9.5m or 12.5p a share next year. This implies that the shares are trading at 6.8 times cash earnings and 5 times cash earnings one year out. Very likely to buy rival On-Set Visibility of work is clearly very good. For the current year, ADF has issued £20m of quotes for new business. Of these, £10m are now firm bookings as filming is going ahead and a further £5m is likely to occur as they are repeat bookings. In other words, given brokers are expecting sales of £29.2m this year, ADF has 52% of the forecast “in the bag.” But if the historical run rate of 80% contract extensions continues, visibility is 90%. At the same time, further sizzle is added to the story because Proctor is on the lookout for acquisitions, with the acquisition of a small trailer business in Scotland being considered. But I suspect it will buy rival On-Set, which has a high quality fleet and similar employment contracts. This would add 250 vehicles and if it happens, I expect the price to take off. Alternatively, given its strength in logistics, it could easily make bolt on acquisitions of businesses involved in transportation of props, lighting, storage, catering as well as expanding into Europe. I am a buyer."
05/2/2022
16:23
74tom: Thanks Rivaldo, great read. I did the same @hastings, I've also been wondering why I didn't buy more on the first day at 55p but I don't think it'll matter much in the longer term! Re. acquisitions, the admission doc is very informative; "Inorganic growth ADF’s inorganic growth strategy will focus on the following areas: * Competitor suppliers – the Directors estimate that ADF currently has approximately 20 to 25 per cent. of the UK TV and film facilities market, with three other main competitors comprising a further approximate 45 to 50 per cent. of the market, and the remainder of the market largely consisting of smaller sole operators. All of these competitors are private companies and the Directors believe that ADF’s access to public capital markets and share incentives following Admission will put the Company in a strong position for acquisitions, with any acquisitions increasing ADF’s market share. * Complementary services for film and TV – ADF can expand its range of services through the acquisition of other businesses servicing the UK film and TV industry. Such businesses may include those which provide storage, props, catering, training and other equipment to ADF’s own customers. The rationale of expanding ADF’s range of services will be to move ADF closer to a “one stop shop” for film and TV producers and to capitalise on cross referral of sales. * Expansion into Europe – acquisition of European film and TV production suppliers, initially focused, in Spain, France and Eastern Europe. The Directors believe that the acquisition of international businesses with existing teams and equipment will be a more productive route to gaining international market share than attempting to grow ADF’s business purely organically in overseas jurisdictions."
03/2/2022
09:03
rivaldo: Decent coverage today on Investors' Champion as part of their usual monthly review of new issues: Https://www.investorschampion.com/channel/blog/aim-new-arrivals-january-2022 "There was only one new arrival, which we cover here. Facilities by ADF (AIM:ADF) is a provider of premium serviced production facilities to the UK film and high-end television industry. ADF hires out its facilities to productions throughout the UK and Europe, providing its services to some of the world's largest traditional and on-demand content production companies. It is the only high-volume facilities provider in Europe that is approved by albert, an organisation that measures and assesses the environmental impact of businesses in the film and television industry. ADF was established in 1992 in Bridgend, Wales, and has grown to the point where it now services productions with its fleet of over 500 trailers and vehicles, providing services to the largest global production companies including Netflix, Sky, BBC, ITV, Disney, HBO, and Apple, amongst others. It has worked on some of the UK’s most popular television series, such as The Crown, Gangs of London and Peaky Blinders. ADF’s production fleet is made up of premium mobile make-up, costume and artiste trailers, production offices, mobile bathrooms (known as honey wagons), diners, school rooms and technical vehicles. The industry in which it operates has experienced significant growth in recent years with additional demand driven by a material rise in the consumption of film and HETV content via streaming platforms such as Netflix, Disney and Amazon Prime. Major US streaming companies have now set up permanent bases in the UK, which is now Netflix’s third largest operation after the USA and Canada. With increased demand for its services, ADF’s fleet capacity is already almost fully booked for the 2022 calendar year. The 2020 financial year was severely impact by the pandemic with revenue falling from £15.9m in 2019 to only £8.0m in 2020, although the group still generated positive EBITDA of £0.83m compared to £3.34m in 2019. For the six months ending 30 June 2021 revenue recovered strongly to £11.5m with EBITDA of £4.17m. It has ambitions to grow its business to £100m of revenue. On AIM admission, ADF raised £13m of new money and £3.39m for selling shareholders at a price of 50 pence per share, with the market capitalisation on admission £37.7m. Despite the challenging market, the shares have attracted plenty of buying activity and are currently 40% up on the admission price. We wish it great success on AIM"
10/1/2022
22:42
74tom: Re. Route to £100m, P21-22 of the admission doc provide more detail. Agree that a 115p initial target would seem to make sense at this stage. Growth strategy The Group has ambitions to grow revenues to over £100 million. Initially, the Company intends to grow organically through further investment into revenue generating fleet equipment, however, the Group is also looking at a number of other opportunities to grow the business through inorganic means. Organic growth ADF plans to increase its fleet size from its current level of 514 to 600 by the end of 2022 and over 700 by the end of 2023. The Group has committed to new fleet capital expenditure orders of approximately £7.2 million and £6.6 million for 2022 and 2023, respectively. These capital expenditure commitments are for incremental additions to the fleet and not replacement units. Once the fleet size reaches 700 as planned, the Directors believe the requirement for incremental capital expenditure will significantly decrease from 2022 and 2023 levels. The Group’s 2022 and 2023 capital expenditure orders have been placed well in advance due to the current high demand for production facilities and strained worldwide supply chains. This has led to increased lead times on production of the new fleet from ADF’s key suppliers in Canada, the UK and the Netherlands. Long lead times on supply does however, the Directors believe, mean that only those facilities companies with existing supplier relationships, such as ADF, will be able to secure supply and thus ADF is expected to maintain and even increase its market share in the UK. Due to the growth in UK film and HETV production and the high levels of demand seen for ADF’s services, the Directors believe that there will be sufficient demand over the coming years to fully utilise a fleet size of 700 vehicles and trailers. Inorganic growth ADF’s inorganic growth strategy will focus on the following areas: * * Competitor suppliers – the Directors estimate that ADF currently has approximately 20 to 25 per cent. of the UK TV and film facilities market, with three other main competitors comprising a further approximate 45 to 50 per cent. of the market, and the remainder of the market largely consisting of smaller sole operators. All of these competitors are private companies and the Directors believe that ADF’s access to public capital markets and share incentives following Admission will put the Company in a strong position for acquisitions, with any acquisitions increasing ADF’s market share. Complementary services for film and TV – ADF can expand its range of services through the acquisition of other businesses servicing the UK film and TV industry. Such businesses may include those which provide storage, props, catering, training and other equipment to ADF’s own customers. The rationale of expanding ADF’s range of services will be to move ADF closer to a “one stop shop” for film and TV producers and to capitalise on cross referral of sales. 21 * Expansion into Europe – acquisition of European film and TV production suppliers, initially focused, in Spain, France and Eastern Europe. The Directors believe that the acquisition of international businesses with existing teams and equipment will be a more productive route to gaining international market share than attempting to grow ADF’s business purely organically in overseas jurisdictions
Facilities By Adf share price data is direct from the London Stock Exchange
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