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Share Name Share Symbol Market Type Share ISIN Share Description
Kinovo Plc LSE:KINO London Ordinary Share GB00BV9GHQ09 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 33.50 32.00 35.00 33.50 32.50 33.50 0.00 08:00:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Gas Water & Utilities 53.3 2.8 -17.6 - 20

Kinovo Share Discussion Threads

Showing 776 to 799 of 800 messages
Chat Pages: 32  31  30  29  28  27  26  25  24  23  22  21  Older
DateSubjectAuthorDiscuss
23/1/2023
09:14
well I'm glad I backed company in the teens, £4m over 2 years is not bad, more wins would be nice to see and what company EVER announces margins on a new contract?!

Onwards and upwards, EV/EBITDA ratio here still looks far too low...DYOR

qs99
23/1/2023
09:08
More interested in what margins they are making out of the contract value?!

Poor announcement and screams get something out to the market to create an illusion of success!

The board are still a bunch of incompetent muppets imho.

aim2105
23/1/2023
07:54
Nice new contract DYOR
qs99
17/1/2023
08:34
Nice but market waiting for dcb final closure before rating this properly.
nico115
06/12/2022
19:01
DyorIs my fave poster Not only bloody shrewd but held my hand during turbulent times here A mensch
nico115
06/12/2022
16:24
Thanks for doing the yards dyor2 much appreciated. Let's see how things unfold, am still holding material levels (for my portfolio anyway!) and with more positive RNSs will add to under 50p...

DYOR

qs99
06/12/2022
13:33
For those of you who didn’t dial in, I thought Kinovo’s investor presentation this morning was pretty encouraging. Key takeaways: Growth momentum continuing into the second half, very confident of meeting market expectations of £62m turnover and £5.3m operating profit this year; expect to be net cash positive by the end of 2023/4 despite the anticipated £4.3m cost of completing the DCB contracts; growth prospects underpinned by sharply increased funding for zero carbon and electrical safety regeneration projects for local authority building stock; proving able to pass on cost inflation pressures in increased pricing; currently bidding on £340m of new contracts, of which they normally expect to win a third. Re the cost of completing the DCB projects, they went into some detail of how third party QS firms have come up with the £4.3m estimate on a project by project basis, and the two contracts that have already re-started are so far coming in within those estimates. They expect only one contract to be still uncompleted by this time next year. Also, MCG (the DCB buyer) has now dropped all legal claims against Kinovo.

All in all, it re-affirmed my view that the shares are seriously undervalued. Either the market will start to recognise this in due course, or a bidder will.

dyor2
06/12/2022
11:40
62m of revenues and 5.3m ebitda Mkt cap of 20m doesn't reflect the growth or opps of cash generation .
nico115
02/12/2022
15:04
If dcb costs over run by 2m then 6.3m pounds paid out over a year to 18 months leaves us with no debt and then a bus generating 6m of cashMkt cap of 20m ...it's a no no ie a yes yes
nico115
02/12/2022
13:22
dyor2 great post and spot on IMO...

looks too cheap and a p/e target under 50p...let's see what other contracts they can add to the tally to get that 3 year revenue look forward up towards £200m....DYOR

qs99
02/12/2022
11:30
Yes that's the sell side though Wanted at 30p but paid up for size
nico115
02/12/2022
11:04
The 100k buy yours?
dope007
02/12/2022
10:02
I was also trying to buy some.Got a few today Too cheap for me and I'm also allowing some flexibility on Dcb contracts.Hoping for a nice chairperson rns as well over next few weeks.
nico115
01/12/2022
17:02
Well, as I said in my last post, the important thing for me here is the amount of cash the core Kinovo business generates. Cash generally doesn’t lie! By this time next year I estimate the core business will be generating circa £6m p.a. in cash, and growing. Let’s say you’re a private equity buyer - what would you pay for this core business? If you paid 70p a share for Kinovo that would be £43.4m. You could refinance say £30m of this on a five year loan at say 500 basis points over the 5 year gilt, which would be 8.3% p.a., i.e. an annual interest cost of £2.5m. You’d then be receiving a cash return of £3.5m p.a. (and growing) on your remaining £13.4m of equity investment if you choose to pay the surplus cash flow out as dividend - i.e. a cash return of 26% p.a., and growing. You don’t need to do much to the business, you just keep hold of it for say three years, by which time it’s making operating profits of say £8m p.a.. You then sell or re-float the business at an enterprise value of say 8X operating profit, i.e. a valuation of £64m. After repaying the £30m loan this leaves you with a return of £34m on your initial £13.4m of equity investment, plus the £13.5m you’ve taken out as dividend during the three years you’ve owned the business. i.e. a total return of £47.5m on a £13.4m equity investment. That would be a pretty impressive IRR! The numbers look even more attractive to a trade buyer, who could knock out at least £1m p.a. of central/public company cost. And all of this is on pretty conservative assumptions - you might in practice hope to float the business in a bull market at a much higher valuation than this.

The above are very rough numbers, but the point is they leave a lot of leeway even if the cost of completing the DCB contracts turns out to be a million or two higher than Kinovo’s present £4.3m estimate. Two views make a market, but as I’ve argued since these were 10p, I believe the value of the core Kinovo business is many times any conceivable cost of completing the outstanding DCB contracts. Mainly for that reason I’ve been trying to add to my holding today, but there doesn’t seem to be a lot of stock around at these lower levels.

dyor2
01/12/2022
15:35
I'm with you nico
qs99
01/12/2022
11:17
Good post but I've read it all since 8p and not we are 30p and I still think we are worth between 60p and 80p.Cash generation is just too good to ignore We are a steal here imho If not then we will get taken over
nico115
01/12/2022
08:57
Great Post yesterday Measuredguy!! Spot on.

The board have continually failed to address any of the questions and concerns highlighted over the DCB debacle. Market announcements have been misleading at best. Honest and truthful updates on the PCGs is needed. Even the latest results published do not tell us whether the two projects that have started are under Kinovo control or whether the clients are getting others to complete and pass that cost on to Kino. Three others expected to re-start in the new year, again do Kinovo have cost control over these? That still leaves four other projects not even mentioned. Too much left to our imagination here.
£4.3m cost to complete is continuously mentioned but you may all remember that Kino announced this time last year that they were expecting Circa £5m from the sale of DCB. I do not trust the board and clearly others do not either.

ddt sprite
30/11/2022
21:25
If institutions were buying i would worry !!I like to do the opposite to them They are clueless I still think 29p is a fantastic buying price.Core business doing great .
nico115
30/11/2022
18:24
Tipacs2 are not institutional investors, they are a Liechstenstein based family shareholder. Valuation is in the eye of the beholder but I've yet to see the known, let alone the unknown, financial consequences of the DCB disaster being realistically reflected in the current KINO accounts.
masurenguy
30/11/2022
17:21
Masurenguy

"it should also be pointed out that there have been no institutional investors increasing their existing positions. In fact Northern Trust have completely exited their 9.93% position"
================================================
Correct me if I'm wrong here but Tipacs2 Ltd have increased their holding from 12.22% on the 25/05/22 to 25.70% on the 27/07/22 in doing so they purchased all of the 9.93% that Mi Sterling (Northern Trust) disposed of. Apart from that I agree with what you say regards the sale of DCB. Having said that does this element of doubt not reflect in the current SP?

sooty snipes
30/11/2022
16:17
While the company has apparently made good progress on the expansion of the current core business, there are still significant financial liabilities relating to DCB that have yet to be finally quantified plus legal matters arising from the disposal deal that have still to be resolved.

Furthermore, their complete failure to explain why they did not disclose the ongoing financial liabilities inherent in the original disposal agreement, and also why their apparent DD approval on MGC was considered to have been satisfactory at that time, must raise ongoing credibility concerns regarding full disclosure and credibility in relation to their public announcements.

Following critical comments relating to the above, which appeared after the results statement in August

- for example - "Difficult to ever put your confidence in a board that sells a material business with open ended working capital support and parent company guarantees untransferred when they sold to a £1 company. Shows a complete lack in ability to do things properly. It's difficult to trust their judgement on anything now. Extreme caution still warranted." topvest #658

- two subsidiary executives suddenly registered with ADVFN to submit posts #698 & 699 expressing their total support for the Board and specifically the CEO. I questioned at that time what prompted these subsidiary directors to register in order to make these supportive comments, especially when these posts suddenly appeared within 10 minutes of each other and created the impression of having been orchestrated from within the company. I consequently directed specific questions to these two posters - # 701 - but they did not respond and neither have subsequently posted here again.

"Have we really gotten to a point where a publicly traded company gave permission to the subsidaries' directors to make some positive posts about the CEO on a random message board? All I see is red flags. By the way...Rooney family and mr Lord...I have not seen you make a notification of buying KINO shares when shares were down 75% the last couple of months. How confident were you that the DCB debacle would be resolved? Actions speak louder than words." jj3483598 #703

Bear in mind that the year end results were qualified by their auditors due to the ongoing DCB scenario and it should also be pointed out that there have been no institutional investors increasing their existing positions. In fact Northern Trust have completely exited their 9.93% position and Premier Milton and Miton both reduced their positions by 40% and 14% respectively over the summer. Also in September, the Chairperson Sangita Shah, announced her intention to resign and depart as soon as a successor was appointed.

As far as I am concerned there is a credibility issue here and the uncertainty over the financial consequences of DCB still remains unresolved. Consequently I have been downsizing my position
and finally completed my exit last week.

masurenguy
30/11/2022
15:33
I know this isn't Pimlico Plumbers but next to what that sold for this is an absolute gift in my opinion
sooty snipes
30/11/2022
15:30
Totally perplexed to understand why the price is dropping - when majority of recent posts seemed to suggest this stock was/is undervalued?...
garyb01
30/11/2022
14:23
It has that feel. MMs hunting for buyers to clear it
dope007
Chat Pages: 32  31  30  29  28  27  26  25  24  23  22  21  Older
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