Global Invacom Share Discussion Threads

[billybunter1970] 06/9/2023 14:14

What will happen to the shares that I own? Will they move the SGX listing?

[shortcpx] 06/9/2023 10:29

Lol. Perhaps if they did a Starlink ramp they'd get volume and finance

[value hound] 25/2/2022 07:23

Finals out. It takes "one" about two minutes to realise they're worth around twice as much; plus ca change...

[value hound] 21/12/2021 07:08

Amidst all the crazy daily clamour on this BB, Align Research publish a note saying what we already know...

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Global Invacom - Initiation of Coverage

Highly undervalued and cash generative provider of satellite ground equipment set for sharp recovery over the medium-term

Global Invacom is a fully integrated satellite equipment business which provides a complete range of satellite ground equipment and electronics to a blue-chip customer base. Its products include antennas, LNB receivers, transceivers, fibre distribution equipment, transmitters, switches and video distribution components, along with manufacturing services for the defence and healthcare sectors. The group is the world's only full‐service outdoor unit supplier, focused on the high growth Data Over Satellite market.

Globally diversified and full service satellite ground equipment specialist

Following a number of acquisitions and mergers over the years, the Global Invacom Group is now made up of a number of companies that together provide a complete solution for satellite communications, making it the world's only full‐service outdoor unit supplier. The company carries out activities from R&D through to design, manufacture and distribution of its products, with its main operations in the US, UK and Asia.

Positioned for growth in the booming Data Over Satellite/satellite internet market

The investment case is driven by the opportunity to meet an increasing global demand for data and connectivity using satellite solutions. In 2020 Global Invacom made the strategic decision to take advantage of this by focussing its product set on the Data Over Satellite market, one which is seeing significant investment from companies including Amazon and Elon Musk’s SpaceX which are launching Low Earth Orbit (LEO) satellites. In a July 2021 report, Allied Market Research valued the global satellite internet market at $2.93 billion in 2020, expecting it to reach $18.59 billion by 2030, growing at a CAGR of 20.4%. The rapid increase of LEO satellites bodes well for Global Invacom, helped by the June 2019 acquisition of Apexsat, a company which specialises in steerable earth station solutions and motorised & transportable antenna systems.

EV/EBITDA and net asset based valuations suggest significant upside

We base our valuation on the average EV/EBITDA multiple of the company’s profit-making, London-listed Telecoms Equipment sector peers. Conservatively discounting the multiple by 30%, we derive a fair value target price of 17.25p per share, suggesting 165% upside from current levels. Providing significant backing to the valuation are tangible net assets totaling 9.03p per share as at 30th June 2021, 39% higher than the current share price. We initiate coverage of Global Invacom with a target price of 17.25p and stance of Conviction Buy.

[billybunter1970] 30/4/2021 10:08

So much potential here - The company need to bang the drum a bit louder and do more self promotion. Something needs to drive this share price up to where it should be.

[billybunter1970] 30/4/2021 08:17

So much potential here - The company need to bang the drum a bit louder and do more self promotion. Something needs to drive this share price up to where it should be.

[value hound] 27/4/2021 16:17

Interesting response to shareholder question re potential growth areas...

"There is so much going on in Space industry-related technology at the moment. As a result, we find ourselves constantly appraising new opportunities that build on our core competencies."

[scepticalinvestor] 25/4/2021 19:45

interesting tiddler but just a little too illiquid for me...

[cjohn] 18/3/2021 16:43

The Singapore Exchange interrogates the Company.

AIM and LSE could learn from this.


I'm still holding; still under-valued.

[arthur_lame_stocks] 01/3/2021 13:03

Hi value hound

I thought the results were pretty robust too and these remain way too cheap imv. They have a super strong balance sheet, low psr and all round look good value.

[value hound] 01/3/2021 08:45

No comments on today's results? They looked excellent under the circumstances; worth easily into double figures anyway IMO (i.e. mkt cap of >£27m).

Concentration on DOS tech due to increased demand "service providers will continue to adopt satellite solutions to meet the significant growth in demand".

Manufacturing move to Philippines from Shanghai complete.

No hint at future divis though.

[value hound] 07/1/2021 09:28

I've joined the (un)happy throng here, FWIW. The spread (5-7p currently) is a bit off-putting, but it's worth 10p (i.e. to sell) IMO, though it may take some time. Mind you, if they'd just change their name to Invacom Blockchain, it would get there today.

As Arthur says, a dividend would help.

[arthur_lame_stocks] 03/1/2021 12:42

I've just come across this company and it certainly looks interesting. Trading at a discount to TNAV, NCA and profitable and on a low psr.

I just wish they paid a dividend occasionally.

[fillipe] 06/10/2020 07:43

Indeed, I much agree regarding the positive aspect of their dual listing.

A little more current activity in the stock with the full ask of 10p being paid.

It's worth noting that for the bid/ask the 35k totals on show at each side, has the lowest ask at 10p, with the highest ask at 16p.

A somewhat indication of the likely early uptick as the stock attracts further interest.

f

[cjohn] 05/10/2020 11:00

Yes, you're right.

There's very poor awareness of this stock, which offers very good value.

The Singapore listing probably puts many off, when in reality it provides better protection for PIs than an AIM listing on its own.

There's no doubt that the difficult questions the Singapore market authorities posed to the company before the insane potential Tactilis takeover helped to scotch that disastrous idea.

[fillipe] 05/10/2020 08:40

Slowly but steadily rising. Likely to continue making a good recovery, is my opinion.

So very few peeps aware of this one.

f

[cjohn] 24/9/2020 07:28

And above.

Restructuring over.

Still trading at a fraction of tangible asset value.

[cjohn] 29/6/2020 13:47

Back to where we were before COVID.

[fillipe] 27/6/2020 10:44

An interesting uptick here, yesterday.

f

[fillipe] 19/2/2020 12:15

Another £10,000 worth lump, taken this morning.

f

[cjohn] 18/2/2020 17:25

Yes, it's an eye-watering loss on shutting the Shanghai operations. But even after that loss, they are trading at around half tangible book value.

[fillipe] 18/2/2020 12:50

A good solid lump taken mid-morning, today.

f

[fillipe] 21/1/2020 14:44

Somewhat "au contraire", I've taken a few GINV, following their today's RNS.

If they do set the business on the right track then the current low share price will quickly be history.

f

[cjohn] 21/10/2019 07:15

Tidying up the corporate structure with the dissolution of a couple of non-active subsidiaries.

[cjohn] 09/10/2019 08:34

Continuing to rally.

Unbelievable value.

On mere tangible asset grounds it's worth 12p per share. And it's a profitable and well-run company with minimal debt and decent cash-flow characteristics.

Possibly, being based in Singapore puts some investors off. But my experience is that Singapore has higher corporate standards than London.