Me Share Discussion Threads

[foolsgold1] 10/12/2024 11:19

We have to take the lows with the highs. Up almost 70% YTD, if I had that across my portfolio I could hang up the boots and sail into the sen set. Solid base going into 2025, hopefully we can see 15/20% + in first quarter.

[sundance13] 10/12/2024 10:28

Cool? I'm still waiting for it to warm up!

[johndoe23] 10/12/2024 10:17

Looking at chart 205ish maybe

[johndoe23] 10/12/2024 10:16

Yes, needed to cool or no rally next week

[sundance13] 10/12/2024 10:15

Whole market down tbf.

[johndoe23] 10/12/2024 10:13

Well this is disappointing

[foolsgold1] 05/12/2024 12:39

Ignore below comment on cash position. I hadn’t read full TU.

[foolsgold1] 04/12/2024 20:47

Agree Disco on the booth rollout. But as long as what’s out there are delivering decent revenue the net return should increase as they sweat the assets without additional capex. Laundry revenue has nice increase however the increase in revenue seems to match the increase in new unit installs. Shows they are not sabotaging sales from existing sites but also average revenue per unit must not be increasing so hopefully no competition on the horizon to eat into their market share. Didn’t see a mention of available cash which they normally do so hopefully they are not over trading! I still think it will hit £1.30 and then fluctuate between 1 and 1.20.

[foolsgold1] 04/12/2024 20:38

Agree Disco on the booth rollout. But as long as what’s out there are delivering decent revenue the net return should increase as they sweat the assets without additional capex. Laundry revenue has nice increase however the increase in revenue seems to match the increase in new unit installs. Shows they are not sabotaging sales from existing sites but also average revenue per unit must not be increasing so hopefully no competition on the horizon to eat into their market share. Didn’t see a mention of available cash which they normally do so hopefully they are not over trading! I still think it will hit £1.30 and then fluctuate between 1 and 1.20.

[disc0dave46] 04/12/2024 09:20

IMO Looks like a slight beat to consensus PAT.Tax was c 24.5% last year so the £73m PBT would equate to circa £55.1m, consensus is £53.7m. Eps 14.6p v 14.2p consensus forecast.Seems to be up with events on a PE of c 15x.Slight concern is potential issues with photobooths rollout.

[johndoe23] 04/12/2024 09:00

Personally wasn't expecting an ahead of, but understand those that did

[gswredland] 04/12/2024 08:41

Yep I reckon so beaky

[mrbeaky] 04/12/2024 08:37

I think traders had taken positions prior to the update hoping for above expectations. Taking a bashing now.

[masurenguy] 04/12/2024 08:18

Just a few profit takers at the open, which could have been anticipated. The shareprice will resume an upward trend when they have all completed their sells !

[johndoe23] 04/12/2024 08:06

Yep down quelle surprise

[izztre] 04/12/2024 07:48

A solid inline update against raised expectations however very tricky to know how the market will react. If I had to bet I would say down but we will see

[allstar_07] 04/12/2024 07:27

Sorry that should be profit before Tax. So presume they'll be some costs to take the PAT to stockos forecast. Shame they don't say what PAT will be.

[allstar_07] 04/12/2024 07:24

£45m pat in H2 compared to £30m in H1. Total PAT is c9% ahead of last year. Stocko has a c5% increase in eps this year so is this a beat? They don't say so so presume not, does anyone know?

[greenknight1] 04/12/2024 07:07

Solid update. Profit before tax up more than 10%. That will translate to another large divi increase inline with their policy. Happy holder here.

[masurenguy] 04/12/2024 07:04

Excellent year end update ! 😊

Year-end Trading Update
Another year of record profitability

ME Group announces a post-year end trading update for the 12 months ended 31 October 2024.

Trading Update

Building on the positive trading momentum throughout H1 2024, the Group is pleased to report continued growth in H2 2024. As a result, the Board expects to report that FY 2024 will be another year of record profit and financial performance in line with the Board's expectations.

Year-on-year the Group expects reported revenue to be not less than £308 million, up c.3% for FY 2024, and up c.7% to not less than £318 million excluding the previously announced FX impacts 1. Adjusted EBITDA is expected to be not less than £112 million, up c.5% (up c.9% to not less than £116 million excluding FX impact1) and Profit Before Tax is expected to be not less than £73 million, up more than 10% (not less than £75 million excluding FX impact1).

Wash.ME Revolution laundry operations were the key growth driver in the year, with net revenue up c.19% (c.21% excluding FX impact1) compared with FY 2023. In total a record 1,111 machines (including 211 relocations) were installed across key regions including France and the UK, in line with the Group's target of 80-90 laundry machine installations per month.

The Group's photobooth operations were stable and performed as expected. This business remained highly cash-generative with Photo.ME revenue up c.0.4% (up c.4.4% excluding FX impact 1). The Group continued to rollout its next-generation photobooths mainly in France. While the rate of deployment of these machines was slightly slower than expected, partly due to some technical issues, the Group continued to make progress with its rollout programme.

1 Excluding the Impact from foreign exchange rates ("FX impact") during FY 2024, particularly the Japanese yen which saw a 12% decrease in value against pound sterling (average rate of exchange used in FY2024 was Yen/£ 191.71 vs FY 2023: 171.68), and a 2.1% decrease in the euro against pound sterling (average rate of exchange used in FY 2024 was €/£ 1.173 vs FY 2023: 1.149).

Financial Position

The Group remains highly cash-generative, well-capitalised, and in a strong financial position. As at 31 October 2024, the Group had a gross cash position of £86.1 million (FY 2023: £111.1 million). The Group made loan repayments of c.£27 million, invested c.£53 million in Capex, and paid £28 million in dividends to shareholders in 2024. The Group's net cash position was £38.2 million, excluding investments and convertible bonds (FY 2023: £33.9 million), after delivering on its policy of returning cash to shareholders through dividend payments.

2024 Annual Results

The Group expects to publish its Annual Results for the financial year ended 31 October 2024 in mid-February 2025.

[johndoe23] 03/12/2024 15:53

Interesting to see what may be said tomorrow. Few taking profits, very light volume

[greenknight1] 02/12/2024 14:20

Increased my position for the trading update on Wednesday. Figures often weighted for H2 so hoping for some strong numbers.

[johndoe23] 21/11/2024 15:15

Is there a large seller? Blocks of 50k,15k and 10k sold today

[johndoe23] 21/11/2024 12:20

208 actually

[johndoe23] 21/11/2024 12:20

Well bounced off 210