Incadea Share Discussion Threads

[redface] 01/10/2013 09:00

As with many results - lots of new questions to be answered.
Yesterday's results meeting would have been interesting...
I believe they aren't booking overseas licence revenue in year one and that this will benefit future years of revenue streams.
There seem to be a lot of large contracts in the pipeline and they appear very positive on H2 and outlook.

Strange the way the share price stayed at 1.08-1.10 from 9.30am - 4.30pm.

Roll on 6 mths and see what that brings.

[tightfist] 01/10/2013 07:51

A continuing Year-End PER of 18 looks ambitious; there is a long way to go in H2, given the "jam tomorrow" flavour of yesterday's results. The value of some of the business projects/regional extensions that have been Won must be minimal.

I was intrigued by the "trust" word appearing in the contract announcement commentary. One wonders how the German OEM's are reacting to the Qoros deal? Working as a supplier/partner across what will become competing OEM's is challenging – believe me! Especially if you are adding value to the newbie.....

I decided to exit and watch; if the Wins come through and there is more recurring revenue generated I will come back in, as the fundamental growth story remains interesting. Some share purchases by the CEO would be welcome right now.

[woodcutter] 30/9/2013 16:39

had considered investing but todays results are to say the least very poor.
Just looked at the numbers haven't read all the detail.

Some comparisons on last H1

revenue up 1.6% so almost flat
gross margins decreased from 41% to 13%....a 10% drop
O/heads increased by 15.6%
cash flow -ve. I don't mind that for genuine growth but that appears to have stalled.

Outlook statement positive but a bit jam tommorrow possibly. H2 needs to be very good.

Looks over valued even after todays drop imv

will view from the sidelines for now

[kenmill1] 30/9/2013 09:25

The strange thing is that their trading update, in August, suggested that Russia was doing well yet these results show a 77% drop in revenues. The trading update stated

"Incadea Russia is now a wholly owned subsidiary of the Company and remains a significant contributor to the Company's financial performance. It is pleasing to report that incadea Russia has taken over the implementation of a major project for BMW's largest dealer in Russia using incadea.engine, incadea.CVRM and its business intelligence solution, incadea.BI. "

Having said that, they are suggesting a good pipeline and are bullish for the future but again, warning that timing of contracts clouds the issue. Asia doubled against the same period last year so all is not gloom.

[fegga] 30/9/2013 08:20

yep , big disappointment...

[sparkymoc] 30/9/2013 07:34

Big disappointment, I'm just glad I sold on the open before things got nasty.

Won't be looking at this company again for a while

[parvez] 30/9/2013 07:23

On the basis of ebitda figures, this company is not worth even £10m. You are right sparky they would have been better off being honest instead of mincing around with their words.....

[sparkymoc] 30/9/2013 07:13

I wish companies like this would just come out and say they didn't do well and explain what they are going to do to fix it, instead of using stupid phrases trying to cover up bad results.

'Investment in sales' - that's what I call expenses, and they are way up in relation to sales.

Sold

[parvez] 30/9/2013 07:10

What a waste of space. Just took a hit as there is no growth story here at all. Could quite easily get back to below the IPO price which is where they belong......so so disappointing IMHO of course!

[sparkymoc] 30/9/2013 07:07

No point in denying it, not a good report at all.

Growth might as well have stopped, even though the auto industry is booming?

No bright spots whatsoever

[beethoven3] 30/9/2013 06:27

Slowdown in growth and investment in new markets equals tight cash flow - if the opportunity in Europe is an acquisition, the company will probably need to raise new equity

[fegga] 30/9/2013 05:18

tightfist - thanks- but not going to briefing - have to make do with the news flow .

lets see what this morning brings...

[tightfist] 27/9/2013 09:07

Thanks Fegga for your posting on this interesting company. It all reads very well and I like the impressive list of clients, and control of their Asian distribution. The management approach and outlook look solid (and the uptrend chart too which attracted me) so taken a small position today prior to Monday's results. Are you intending going to the briefing on Monday?

Cheers,

[sparkymoc] 17/9/2013 17:41

I'll be disappointed if they aren't at least keeping up the with the pace of the general auto market growth, it's flying

[phsycho] 16/9/2013 11:58

any hints, whispers for Monday 30th?

[dewtrader] 29/8/2013 14:32

Auto pilot perfect navigation begins towards 200p

[dewtrader] 29/8/2013 14:29

Someone got wind of very good statement coming out

[dewtrader] 27/8/2013 13:59

last MM at 119p

[dewtrader] 27/8/2013 09:51

bit of buying

[gucci] 15/8/2013 11:46

fab looking chart