Haynes Publishing Share Chat (HYNS)

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Haynes Publishing Group	LSE:HYNS	London	Ordinary Share	GB0004160833	ORD 20P

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	+0.00p	+0.00%	185.00p	180.00p	190.00p	185.00p	185.00p	185.00p	272	06:42:01

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Media	25.7	-2.5	-11.8	-	12.68

Haynes Publishing Share Discussion Threads

Showing 351 to 375 of 375 messages

Chat Pages: 15 14 13 12 11 10 9 8 7 6 5 4 Older

Date	Subject	Author	Discuss
09/7/2017 21:34	Interesting news last week httpS://www.investegate.co.uk/haynes-publishing--hyns-/rns/signing-of-letter-of-intent/201707061410022591K/ I'm intrigued as to what this might result in	rhomboid	Read Full Thread Reply
01/6/2017 15:10	Yes,A very nice surprise. Shame there was no mention of any cash numbers but still very welcome indeed.I certainly plan on going to the AGM and look forward to meeting fellow shareholders.	mcfly79	Read Full Thread Reply
01/6/2017 12:10	Very pleasing results. Clearly, the strategy of investing in Professional and digital consumer while selectively cutting costs in paper is being implemented by an able management team. Having met the directors, I also trust them to behave well toward shareholders. I hope there will be more than just Norbert Colon and I representing the small shareholder base at the next AGM! It'll be good to meet some of you, and exchange notes.	profdoc	Read Full Thread Reply
01/6/2017 09:48	Must confess I thought these were doomed a few yrs back but looks like they are safe-ish. Bit of an odd company in that it is still about 60% family owned and its land assets inflate its book value. Don't think I will see my £4 buying price for a long time !	wad collector	Read Full Thread Reply
01/6/2017 09:05	Excellent post!	playful	Read Full Thread Reply
01/6/2017 07:30	Great post and timely entry Mcfly given this mornings great update 👍 hTTp://www.investegate.co.uk/haynes-publishing--hyns-/rns/trading-statement/201706010700037704G/	battlebus2	Read Full Thread Reply
31/5/2017 19:49	I’ve recently become a shareholder (thanks to everyone on the board for your analysis, particularly Norbert Colon and profdoc). I became an investor largely because of the continued expansion of the digital side of the business (in particular HaynesPro). I think HaynesPro is the kind of sticky, high-margin business that has the potential to generate large free cash flow (vs the current market cap) and also creates the possibility of a takeover. I think accounting profit is subjective at the moment since it includes very large amortisation costs, which themselves are being caused by capitalisation of investment spend on digital content. I think an analysis of cash flows is more relevant. Set out below is the operating cash flow before working capital movements and investment (first number) and expenditure on investment activities (second figure) for the years ended 31 May. 2017 H1: £3.4m (£3.3m) 2016: £7.0m (£6.5m) 2015: £7.7m (£6.2m) 2014: £4.1m (£3.5m) 2013: £5.8m (£3.3m) 2012: £6.8m (£2.9m) 2011: £9.3m (£2.7m (n.b. the business is somewhat seasonal – the 2016 H1 operating cash flow before working capital movements was £2.9m and therefore increased by £0.5m in 2017) Investment expenditure has increased significantly from 2015 onwards as the group invests heavily in digital content. The numbers suggest that growth in cash flow from the digital side of the business is offsetting declines in the print side of the business and the net is still a healthy £7-8m of operating cash flow for the last few years (vs a market cap of £25m). Of course, this cash flow is prior to the investment expenditure which is running at c.£6.5m a year. HaynesPro continues to grow rapidly. In H1 2017 digital revenues were £5.1m (up 50% year on year) and the OATS acquisition will add £2.2m of annual digital revenue based on their latest financials. I would hope that digital revenue in the year ended 31 May 2018 (which starts tomorrow) will be at least £15m. This is up from £6.4m in 2015. Does anyone have a forecast from the company for planned investment expenditure in the coming years? If the investment expenditure is maintained at the current levels the company should start to generate more free cash flow as digital revenue continues to grow (and the print side of the business starts to stabilise and is supplemented by non-motoring publications). Autodata, Haynes’s largest digital competitor in Europe was acquire in January for £340m. We can look at Autodata’s figures for an indication of the cash flow a pure digital business produces. The latest accounts available on Companies House are for the year ended 31 Nov 2015 (The 31 Nov 2016 will be lodged as some point). The 31 Nov 2015 accounts show turnover of £25.5m and free cash flow (after investment) of £7m. It will be interesting to see the 30 Nov 2016 accounts to try and understand what justifies a £340m price tag (13 times the market cap of Haynes!). The Autodata Turnover only increased 4.5% from 2014 to 2015. The 2015 accounts state that after the 2015 year end the group acquired distributors in France and Finland for £12.4m which were expected to add £3.7m to revenue in the year ended 30 November 2016. Even with this extra revenue factored in plus growth the numbers are not a order of magnitude higher than those of Haynes. It seems that the acquisition of Autodata by Solera was a strategic one to extend their footprint into Europe. The read across valuation to Haynes is very interesting. Perhaps a question for the next AGM – has the company been approached by any of Solera’s US competitors! Norbert Colon – thanks for the info on the various freehold properties. Some fairly substantial cash amounts coming the company’s way that I don’t think have been appreciated by the market. I look forward to the results of the year about to end and details of the progression of HaynesPro.	mcfly79	Read Full Thread Reply
24/5/2017 16:18	New website for HaynesProhttp://haynespro.com/	norbert colon	Read Full Thread Reply
16/5/2017 10:30	My latest thoughts on Hayneshttp://www.stockopedia.com/content/haynes-publishing-group-hyns-turnaround-on-track-184958/	norbert colon	Read Full Thread Reply
01/5/2017 17:38	RhomboidIt may be conservative as I am always happy to see upside as with my very conservative estimate of their Nashville freehold.I had resi value as £11m + £1.5m for commercial so £12.5m and a third of that as land value as you have noted.This tied up with published govt data for resi land value in south Somerset so is a good minimum to work with.Pleased that you remain invested.	norbert colon	Read Full Thread Reply
01/5/2017 14:15	Nice spot NC,this looks a much more interesting company than most, I think you may be a bit modest on valuation, looking at HttpS://chesterscommercial.com/wp-content/uploads/2017/04/Sparkford-Haynes.pdf I'd expect the land value to be c 1/3 of built out value , looking at the numbers the new residential element only should get to your value, with the commercial element & Grade 2 listed farm house in for nothing? Remediation costs should be ok as I can't imagine there's a history of pollutants given the nature of the business. Anyhow thx for the link, I'm happy I doubled up last week	rhomboid	Read Full Thread Reply
01/5/2017 10:00	Fantastic news Norbert....	battlebus2	Read Full Thread Reply
01/5/2017 09:55	Haynes old Sparkford HQ site now up for sale via Informal Tender. hxxps://chesterscommercial.com/wp-content/uploads/2017/04/Sparkford-Haynes.pdf My approximation of minimum value is circa GBP 3-4m based on land with OPP in South Somerset typically being worth GBP 1.25m/hectare plus the fact that there are existing properties of value on the site. Freeholds on balance sheet at YE valued at circa GBP6m but by my estimates (and based on Aus and US F/H sales to-date) are worth around double that figure and hence almost 50% of mcap.	norbert colon	Read Full Thread Reply
24/3/2017 10:25	Shares responding well to the maiden share purchase by the CTO 👍	battlebus2	Read Full Thread Reply
31/1/2017 06:39	Looking at Autodata accounts, it's turnover is less than Haynes but it is more profitable, looks like they went digital a year or so earlier but it gives an insight into highly rated pure digital data businesses with a moat can be by PE buyers.	rhomboid	Read Full Thread Reply
31/1/2017 00:54	LOL Only in 30 odd at a time so I do get about.	battlebus2	Read Full Thread Reply
31/1/2017 00:38	Battlebus. You are everywhere!!	hybrasil	Read Full Thread Reply
28/1/2017 01:34	Quite a deal Norbert.	battlebus2	Read Full Thread Reply
27/1/2017 23:23	http://www.motortrader.com/motor-trader-news/automotive-news/solera-buys-workshop-data-specialist-autodata-06-01-2017?platform=hootsuite	norbert colon	Read Full Thread Reply
27/1/2017 13:31	I bought in yesterday so surpised we're up today, doesn't usually happen. Would like to buy more so hoping the share price doesn't get carried away in the short term at least. The pension deficit will be off-putting to some especially when compared to the market cap, but that could change quickly if yields continue to rise and the business continues to make progress.	junior21	Read Full Thread Reply
27/1/2017 12:45	Nice one Rhomboid, plenty to go for yet.	battlebus2	Read Full Thread Reply
27/1/2017 12:26	Not really, it's just a clumsy buyer (me) trying to double up my holding so don't read too much into it. I've been behind the curve here and I'm trying to catch up!	rhomboid	Read Full Thread Reply
27/1/2017 11:55	Another great day 👍	battlebus2	Read Full Thread Reply
27/1/2017 09:03	Hi NC Value looks compelling but there's still the hefty pension deficit to put into the mix, hopefully this year will see that reducing and the core business beginning to accelerate.	rhomboid	Read Full Thread Reply
27/1/2017 08:51	Details of Tennessee property for sale: hxxps://www.commercialsearch.com/listings/1299-Bridgestone-Pkwy_La-Vergne_TN_37086_b6CT34THKC4WKCEB16HK68T1J60TKERTQ64R3ACHJCTH36D9GC5H34CB26XJKAT1R US$ 6m = GBP 4.7m or 22% of mcap alone (mcap on stocko site is wrong as there are 2 classes of share hence actual mcap is circa GBP 21m). UK HQ site with OPP due to be marketed shortly and I anticipate a GBP3-4m asking price so those two properties alone = 40% of mcap hence investors are getting a significant part of the excellent Haynes business for effectively nothing. Note: original post edited due to error (purely mine!) - more haste less speed.....	norbert colon	Read Full Thread Reply

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