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Share Name Share Symbol Market Type Share ISIN Share Description
Ffi Holdings Plc LSE:FFI London Ordinary Share GB00BF04DT64 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 19.00p 0 08:00:22
Bid Price Offer Price High Price Low Price Open Price
18.00p 20.00p 19.00p 19.00p 19.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 42.02 3.76 0.67 25.4 30.0

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Date Time Title Posts
06/6/201923:06FFI Holdings - Flying under the radar2,242
28/3/201915:16Film Finances (FFI) ...bargain or too good to be true ?144

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DateSubject
15/6/2019
09:20
Ffi Daily Update: Ffi Holdings Plc is listed in the Media sector of the London Stock Exchange with ticker FFI. The last closing price for Ffi was 19p.
Ffi Holdings Plc has a 4 week average price of 16.50p and a 12 week average price of 16.50p.
The 1 year high share price is 83p while the 1 year low share price is currently 11p.
There are currently 157,820,243 shares in issue and the average daily traded volume is 4,175 shares. The market capitalisation of Ffi Holdings Plc is £29,985,846.17.
05/3/2019
15:04
tsmith2: Part of the problem has been the lack of shareholder rapport. so hopefully they'll sort this out.By any metric the share price is bonkers
04/3/2019
20:38
stemis: advfn have the P/E for this stock at 53 which is probably wrong according to the LSE hTTps://uk.advfn.com/stock-market/london/ffi-holdings-FFI/share-price?java=1 London Stock Exchange have the P/E at 103 hTTps://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB00BF04DT64GBGBXASQ1.html?lang=en Re the share price fall total liabilities are increasing bigtime V falling earnings and cash flow from 2017 into 2018 FFI ............. 2016.. 2017.. 2018 Total Liabilities 69.25 72.41 106.05 in GDP Millions Reported EPS ..... 0.01 0.04 0.01 Operating Cash Flow 1.60 8.75 2.52 -------------------------------------------------------------------------------------------- Buywell, I've already explained all this to you in post #1356, so the fact you continue to repeat it, as a major concern, is just a reflection of your lack of integrity. The increase in liabilities is due to (1) deferred consideration and (2) liabilities for production costs, for which they have the cash sitting in restricted cash (and which is not included in their net cash figure).
04/3/2019
19:25
stemis: The issue is whether there has been a fundamental change in the business (unbonded Netflix/streaming taking business away) or is it a temporary issue. If the former then they need to resize the business to be profitable at lower levels of business. No reason they can't do at least $5m a year, even on a smaller business. The other businesses seem capable of doing at least $10m. On a P/E of even 8, plus a bit of cash, that should support a share price at least in the mid 40's. Issue is, how they get there and how quickly. Not much help to those who took the shares at 150p...
04/3/2019
07:28
daz: Trading statement out today, doesn't read at all well. EBIT expected to be in the range of $7.5m to $11.5m, when they made $6m at the interim's. Some revenue has moved from Q1 to Q2. hTTps://www.investegate.co.uk/ffi-holdings-plc--ffi-/rns/trading-statement/201903040700066731R/ It look like some people knew about the weak trading and that's why the share price has been weak.
01/2/2019
11:58
blackzed: Keyno, re banana skins, the 10ml decrease in underlying EBIT last year was due to IPO related one time charges. Hopefully it the one time charges do not end up recurring(pun intended), we can come to the normalized EBIT which doesn't look like that big of a banana skin accident. The completion business to me looks a little problematic: 1. It has fixed costs: need minimum number of sales not to incur a loss. 2. The claims on bonds are uncertain. Just look at the H12019 operating income for completion guarantee business. But I take solace in the fact that the equipment rental business should act as a damper to it and provide a stable operating profit and certainty. Another unknown is the Entertainment insurance business. Would love to hear from you guys more about the economics of it. The share price action seems to me as an irrational overreaction. Firstly, who would buy this business at IPO for 150gbp just 18 months ago if the fundamentals were taken into account (that was like buying a 300ml USD company for around 8ml of normalized earning.. whopping PE>35) Then weistein hell broke loose, those who bought at IPO sold out heavily. Those 25% of float has no big buyer left(in an environment of forced selling the share tanks as expected). I speculate the old mutual guys recently changes their name to Merian Global Investors and did some structural changes, which resulted in liquidating their positions in open market. I see the wreck as overdone.. AIM, operating in US but listed in UK, forced seller without rational buyers, the punters: good mixture for inefficiency in price. I wonder how the market had behaved had they listed it on NYSE.
29/1/2019
09:46
carcosa: That 'one person' might have been me and it is based on prior experience of a company many years ago that made cookers. That company was highly profitable but the Board backed themselves and due to the low free float forced a cheap sale. The rationale for a MBO is this: There is a small free float ~30% from memory; less during the IPO. So existing shareholders cannot really do anything to stop an MBO offer. The company has already tapped the markets to fund the acquisitions so that's quasi free money. For whatever reason(s) the share price is ridiculously low. Therefore if existing Management and associated friends want to take the company private again then now is the time because it is so very cheap. That then gives them options; Bring another private equity onboard, take relatively large future dividends, sell off part of the company, or re-list the company in a few years at several 100% premium to current/buy-out share price. Will it happen? Well they did say "the Board is clearly disappointed by the Company's poor share price performance since IPO and is committed exploring the options to address this issue."
24/1/2019
11:22
stemis: It would have been better if FFI could have found an institutional investor(s) to buy Old Mutuals stock rather than it being dribbled through the market. Part of the role of the broker is to introduce new investors to which management can present. FFI need to be more proactive in managing their share price.
16/1/2019
17:16
tsmith2: This post by naked investor is bang on:You guys need to do your research. This is a seriously well-regarded company. Everybody in the film and entertainment business speaks highly of Steve and FFI. Everybody. I’ve spoken to 30 people. Producers. Financiers. Competitors. FFI have such a strong franchise.re headwinds previously referred to. The core business is basically flat at best hence why they’re moving into other service lines. But the completion bond isn’t about to die (not a single insider has said that) and will be around 10 years from now. And these guys have a monopoly on the market. It’s not even like there is an airbus to challenge them. Please keep selling shares at these crazy levels so I can keep topping up. You’re nuts to invest in anything if you lack the time, resources or initiative to research the industry, the company and the people. Producers and financiers will tell you that the macro story for content is the best it’s ever been. Ever. So considering the strength of the platform (they get so much information flow) they’re extremely well positioned to benefit from the content explosion the industry is seeing.- re ebit don’t forget the amo as a result of goodwill on some of the acquisitions so it’s not a like for like.- Pandas is priced at a negative value and it hasn’t even been released in its target market (China) yet. IMAX are releasing it in March. Anything panda related has done well at the box office.- reel media is an MGA for the biggest insurer to the film and entertainment industry in north America with the longest history. That should command a min 10x EBITDA multiple. Look at the accounts - they’re expecting EBITDA of $6-11m per year! Hence the high contingency!- stop obsessing over the share price which is suffering as a result of nobody doing their bloody homework. the fundamentals are strong (macro and company level) and look at the insider ownership!- this is Hollywood’s strongest and longest franchise (think of all the producers, studios, financiers that have come and gone over the years) trading at an insanely low ebit to EV multiple of less than 4x.But guys, do what you want. Your selling benefits the insiders (I expect strong buying this month if it’s not been done already the last 3x trading days) and the investors that have done the work and can hoover up your sales.I don’t know if the share price will reflect the above anytime soon...(the market is a voting machine in the short run)...but in the long run it’s a weighing machine and these guys are a best in class franchise in a growth industry trading at an absurdly low valuation. Eventually the share price will reflect that.
10/1/2019
00:30
nakedinvestor: You guys need to do your research. This is a seriously well-regarded company. Everybody in the film and entertainment business speaks highly of Steve and FFI. Everybody. I’ve spoken to 30 people. Producers. Financiers. Competitors. FFI have such a strong franchise. re headwinds previously referred to. The core business is basically flat at best hence why they’re moving into other service lines. But the completion bond isn’t about to die (not a single insider has said that) and will be around 10 years from now. And these guys have a monopoly on the market. It’s not even like there is an airbus to challenge them. Please keep selling shares at these crazy levels so I can keep topping up. You’re nuts to invest in anything if you lack the time, resources or initiative to research the industry, the company and the people. Producers and financiers will tell you that the macro story for content is the best it’s ever been. Ever. So considering the strength of the platform (they get so much information flow) they’re extremely well positioned to benefit from the content explosion the industry is seeing. - re ebit don’t forget the amo as a result of goodwill on some of the acquisitions so it’s not a like for like. - Pandas is priced at a negative value and it hasn’t even been released in its target market (China) yet. IMAX are releasing it in March. Anything panda related has done well at the box office. - reel media is an MGA for the biggest insurer to the film and entertainment industry in north America with the longest history. That should command a min 10x EBITDA multiple. Look at the accounts - they’re expecting EBITDA of $6-11m per year! Hence the high contingency! - stop obsessing over the share price which is suffering as a result of nobody doing their bloody homework. the fundamentals are strong (macro and company level) and look at the insider ownership! - this is Hollywood’s strongest and longest franchise (think of all the producers, studios, financiers that have come and gone over the years) trading at an insanely low ebit to EV multiple of less than 4x. But guys, do what you want. Your selling benefits the insiders (I expect strong buying this month if it’s not been done already the last 3x trading days) and the investors that have done the work and can hoover up your sales. I don’t know if the share price will reflect the above anytime soon...(the market is a voting machine in the short run)...but in the long run it’s a weighing machine and these guys are a best in class franchise in a growth industry trading at an absurdly low valuation. Eventually the share price will reflect that.
19/10/2018
08:30
carcosa: Pireric, good post. Going back to the query arising from the recent twitter post and in particular the 'No Colour' statement, the phrase is a standard everyday investment terminology which you will hear in practically every analyst meeting. It is as standard as 'long', 'short'. The phrase means a request for additional details. Hence Robert Churchlow was indicating Investor Relations were unable/unwilling to explain the reasons for the CFO departure. As for the company going back to being private then all I can say is that if the MBO want to do a buyout then they can certainly engineer that or take the company private with existing shareholders. Unfortunately I have seen such occasions over the years where they can effectively cause the share price to tumble, say there is no point in remaining listeed and that's that. Job done. Bear in mind that the CEO effectively controls 55% of the company. Furthermore 30% is owned by Golden Sun (Enter latest name version here) which online research suggests is a bit dodgy. Therefore it is not without merit that after this large acquisition trail they have been on that FFI decide to scurry away. But will they do that? The CFO has little experience comparable to his current role but over the last 20 years or so his CV appears to be clean in the finance industry. So there are no obvious signs that he intends to be under-handed with shareholders. Furthermore the earlier profit warnings were due to understandable, although unwelcome, reasons. Further negatives may arise over problems in integrating these acquisitions as they are geographically diverse and it's all new to management. But everything has a price and at current share price there seems to me to be more risk being 'out' than being 'in'. One positive RNS has the potential to turn the share price around very quickly. Recent weeks have shown large upturn in the daily trading volumes, undoubtably a lot is very speculative and has given rise to a volatile share price. I guess that will continue until a trading statement of the Interims (December?) are issued.
Ffi share price data is direct from the London Stock Exchange
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