Inspired Share Discussion Threads

[buoycat] 18/11/2019 10:00

Thanks Rivaldo.

[rivaldo] 18/11/2019 09:20

RNS - Gresham House have been increasing their holding quickly.

They now have 15.6%, or 111.45m shares - so they've bought 10m shares in the month or so since their last holdings RNS.....

[rivaldo] 18/11/2019 07:15

No discussion as far as I remember. I think this interesting post elsewhere from "hewn" summed things up nicely:

"it’s important to understand exactly what Labour has pledged itself to and the models it is currently examining. The 2017 manifesto committed Labour to taking energy “back into public ownership” in three stages:

Regaining control of the distribution networks through changes to their license conditions.

Supporting local publicly owned energy companies and co-operatives to compete with existing private providers.

Permitting publicly owned companies to purchase regional grid infrastructure and bring the regional and national grid into public ownership over time.

"But as ever, change may also create winners. A new breed of municipally operated or co-operatively run energy companies would increase the market for experienced firms to advise on the structure and work of the new entities as they’re created and begin operation."

So the existing suppliers are not going to disappear and assuming they are able to leverage their larger buying power to remain competitive, there will simply be greater choice of suppliers and contract options for clients (requiring more analysis of quotes - a core service of Inspired) and perhaps to increase the focus of existing suppliers on adding local / social value. Potentially a very positive change. Fill your boots before everyone else realises what is really afoot!"

[buoycat] 18/11/2019 00:26

Was there discussion of any implications should labour win the general election?

[1gw] 17/11/2019 15:53

Thanks rivaldo.

[cheshire man] 17/11/2019 15:24

Thanks for taking the time to give us your feedback,,,,,,,,all looks very positive going forward :-)

[rivaldo] 17/11/2019 14:40

Some random notes from me about INSE's presentation at Mello. I thought the CEO was an excellent presenter, full of passion and industry knowledge. In particular, he knows this sector inside out and has built up and sold similar companies before:

Latest forecasts:

- this year: 1.83p EPS, 0.7p dividend
- next year: 2.08p EPS, 0.8p dividend


- INSE have a 13% leading share in a fragmented market, and are one of only two buyers in the sector
- INSE recently won a new contract with Boots (there were bids from 7 or 8 competitors), and also have extended a contract with Travis Perkins through to 2023
- there's a £60m Corporate Order Book (this against £49m revenues forecast for 2019)
- all of Travis Perkins' energy invoices go to INSE and they input directly into TP's accounting system, set TP's budgets, manage their accruals etc, so are a major data management business
- client retention rates are high at 85%, and any churn is only due to acquisitions
- there are four growth drivers with non-discretionary, recurring imperatives:
(a) compliance with regulation, audit etc
(b) procurement savings
(c) energy accounting
(d) optimisation of energy usage, green efficiency etc

Huge opportunity in optimisation, which is £860m of the total £1.25 billion market. Three of every four UK businesses use a business like INSE, but only one in six have optimisation.

UTW were in almost entirely different markets to INSE, representing only 7% of INSE's business.

Historic private equity take-out valuation have been at minimum 10 times EBITDA. That would be £230m for next year, against the £112m current m/cap.

INSE are rolling out RPA, which has the potential to automate 20% of the labour force.. They aim to increase TCV (Total Contract Value), reduce costs further using their Mumbai admin centre, and to make 4-5 acquisitions per annum.

Re the Ignite Energy acquisition: bought 40% for £5m. Only 10 customers, but makes £12m revenues and £3m EBITDA, embedding staff in clients' operations. WH Smith have made £3.8m annual savings, and SSP £1.5m. INSE have 500 other clients who could make similar savings....

There's a pipeline of acquisitions through to 2024, and INSE aim to grow revenue per meter from £220 to £840.

INSE as a sector-leading player have more leverage with energy suppliers than competitors , i.e in getting rebates from those suppliers for clients.

[abarclay] 13/11/2019 15:36

Hsw taking off 🚀

[sphere25] 13/11/2019 13:30

Very very close to the long awaited breakout now.

At the present moment in time, there is no stock available with the offer at 17p. A staggering 22p to buy anything more than 1k!

They clearly need to find some stock. They can have mine up at around 20p. I have waited long enough :-D

[wanttowin] 13/11/2019 13:07

come on you beauty

[cheshire man] 13/11/2019 08:56

Today at #MelloLondon
@MelloEventsUK
piworld are filming #INSE Inspired Energy the videos be out on piworld when we've edited after the event

[rivaldo] 12/11/2019 22:34

So is that Matthew Thornton largely or completely out now? If so my last post was entirely incorrect :o))

Great to see the immediate move up in response to the huge volumes.

INSE are presenting tomorrow, so I'll try to get some answers if there's no holdings RNS.

[cheshire man] 12/11/2019 16:58

Closed up over 7% can't wait for rivaldo's feedback from Mello :-0))

[1gw] 12/11/2019 15:15

The spread is rather putting me off adding here though - and there didn't seem to be a lot of volume on offer (on a "quote and deal" type basis) even at the top end of the spread when I tried earlier. Hope to see it settle down to a more normal spread before long.

[1gw] 12/11/2019 14:15

Nice. Second one of mine today with big volume going through and a move up in price afterwards.

[wanttowin] 12/11/2019 13:59

Certainly hope so, it could be Matthews shares on the move.

[sphere25] 12/11/2019 13:39

Some whopping exchanges with buyers in size at 14p.

26m and counting.

Is that finally the sellers cleared now?

[rivaldo] 11/11/2019 10:04

I'll try to post a summary of what was said at Mello at some point.

With Janet Thornton having exited, the Thorntons are now £5m+ wealthier and those shares are presumably now in safe hands. I would doubt that Matthew Thornton needs to sell any shares for some time to come :o))

[melody9999] 10/11/2019 19:43

PS if you are going to Mello I would appreciate any feedback. I'm currently on our annual 'escape the winter' stay in New Zealand.

[melody9999] 10/11/2019 19:41

Thanks Riv - I was considering re-entering prior to Mello, as I suspect that will alert a few more PIs to INSE. (in fact I suggested to Mark and INSE PR team that they should attend Mello some months ago so it is noce to see they are listening.

However with Matthew still holding 5%+ of the company and likely to exit in the not too distant, I'll probably remain on the sidelines until there is a holdings announcement

[rivaldo] 10/11/2019 11:12

Here's the list of shareholders as at 14th August - note that Janet Thornton has since exited and Gresham House have increased their holding:

[melody9999] 10/11/2019 10:26

I note this from the annual report 270319:

"Matthew Thornton today steps down as Non-Executive Director and has entered into an orderly market agreement in relation to his holding expiring 31 March 2020."

I had a file note suggesting Matthew held 38M shares. But cannot see him featured as a notifiable shareholder on II. Can anyone shed any light on Matthew's current holding?

[cheshire man] 07/11/2019 10:03

And while we wait we get over 4% return on our investment :-)

[rivaldo] 07/11/2019 09:54

Interesting comparison. As a longstanding GAN holder, GAN was similarly frustrating for a long time. Yet now the market has finally caught on and it's a multi bagger.

If the market similarly latches on here, then who knows what will happen to INSE. A major re-rating takes only weeks if events align properly.

[harry the haddock] 07/11/2019 09:23

and yet the share price is now only 3 p higher than it was 5 years ago.this is the most frustrating share in my portfolio; keep hanging on to it, and still want to hold, but very tempting to sell and reinvest in GAN which is just a license to print money at the moment