Molins Share Discussion Threads

[xajorkith] 29/1/2018 19:37

Anyone able to start a new MPAC thread?

No idea how to & happy to leave to someone far more qualified :-)

Edit: decided to have a go but charts blank as no historic prices under the new ticker. Not sure how to rectify this?

Edit 2 : charts working now.

[castleford tiger] 16/1/2018 12:06

A great deal of value that will only become clear once we see what the company can make in its current state
tiger

[meijiman] 16/1/2018 11:31

looking good here -still offers value

[richjp] 05/1/2018 18:13

I think there is now more confidence now that they have the cash from the property sale and we now await to see what they do with the cash.

[xajorkith] 05/1/2018 17:38

Nice end of day surge & great to see it back at recent highs as we begin the "Mpac" era.

As CT says, still far too cheap valued at cash.

[castleford tiger] 03/1/2018 20:10

Sold and cash in
Too cheap

[meijiman] 27/11/2017 12:23

Yes why not spread the word and get the share price motoring!

[jay083] 27/11/2017 11:49

looking a bit lively today - maybe in anticipation of completing the sale of the property in Canada and having a market cap of a little above cash....

[xajorkith] 26/10/2017 14:25

You might be right richjp - maybe hubris on my part.

Definitely see outstanding value here & feel 250p a fair target over the next six months or so.

[richjp] 26/10/2017 14:12

I am a long term holder and have been both amazed and delighted by the share price recovery over the last six months and possibly others in the same situation have sold out. Others who bought in at the right time have also seen a very nice return indeed in a short time period so there could be sellers there as well.

I think it's a bit early to talk about 250P as I think much will depend on what acquisitions they make.

For the moment I am staying in and hope to continue to ride my good fortune with this one.

[wilsonst1] 26/10/2017 08:41

Not sure much stock is about at this level. Struggled to buy 10k this morning.

[xajorkith] 25/10/2017 20:01

Strange to see this suddenly drop 5% or so late in the day.

Following today's GDP figures, I would have thought the possibility of an imminent rise in interest rates would have been beneficial to the sp, given it's sizeable pension commitments.

Either way, this appears a steal valued at little over year end cash & with a new higher growth, higher margin business forecast to deliver eps of over 10p next year.

Should be at least 250p imv, although just one of many undervalued companies out there at the moment.

Patience required, as someone mentioned elsewhere.....

[rhomboid] 20/10/2017 18:13

Robinson isn’t a packaging machinery maker, they’re a customer for packaging machinery 🤔

[castleford tiger] 20/10/2017 17:54

ROBINSON PLC ?

[mirabeau] 11/9/2017 13:04

Tipped by ST in the IC, again which obviously explains the jump at 12pm

[edmonda] 08/9/2017 12:01

Molins PLC results webinar: 7th September 2017

In case you missed it live yesterday, here is a recording of the Molins PLC management presenting their interim results at Equity Development’s offices.

[edmonda] 08/9/2017 09:57

40% top line growth, plus £22m cash pile

Molins is a technology-led service provider of high speed packaging equipment and machinery with circa 300 employees. The group comprises two complementary subsidiaries: the largest, Langen (c. 75%-80% revenues) is a designer & manufacturer of cartoning machines, case packers, end-of-line and robotic packaging solutions, as well as a provider of turnkey projects involving design/integration of packaging systems.
By refocusing solely on packaging machinery, the group this morning posted impressive growth, with H1 revenues up 40% to £25.2m (vs £18.2m LY), or 29% at constant currency. Driven by standout performances from EMEA (+58% to £9.5m) and AsiaPac (+210% to £5.6m), offset by a slight decline in the Americas (-1% to £10.3m), albeit vs tough comparatives.
Better still, proforma net funds, including the above Tobacco proceeds (£27.3m net costs/taxes, and £23.1m post a £2.7m UK pension contribution with £1.5m held in escrow), ended the period at £22m (or 109p/share). With another £5.9m scheduled to come in by November after June’s disposal of a property in Canada.
With regards to M&A, the Board are actively seeking for complementary and value accretive targets. Ideally comprising specialist know-how and/or solutions capability, within Primary (ie touching product) and Secondary (outer-layer) Packaging covering the rapidly expanding Pharma, Healthcare, FMCG and Beverage sectors.
Despite a spectacular recent rerating of the shares, our sum-of-the-parts remains unchanged at 180p/share. This is based on a range of industry multiples, a 12% discount rate and assuming corporate overheads (incl PPF levy) are streamlined if suitable acquisitions are not made.

[thevaluehunter] 07/9/2017 18:13

That said a bit stingy not paying a dividend.

[thevaluehunter] 07/9/2017 17:51

Reckon they will have more net cash than the market cap once the cash from the property and tobacco disposal is received. Also pleasing to see the pension move to an asset position of £4.5m from liability in the first half.

[edmonda] 31/8/2017 14:24

Molins PLC interim results webinar 7th September 2017, 13:00

The managers of Molins (AIM:MLIN), an international business providing high performance machinery and instrumentation, as well as services and support for the production, packaging and analysis of consumer products, invite you to a presentation of their interim results.

Tony Steels, Chief Executive Officer will give a presentation lasting approximately 30 mins and there will then be an opportunity for Q&A. If you would like to join please register now:

Register here:


After registering, you will receive a confirmation email containing information about joining the webinar.

If you would like to submit any questions for management ahead of the meeting please send them to [e-mail]

[rhomboid] 16/8/2017 18:24

I hold a lot of MLIN (+ CAR AIEA HYNS) as I believe their pension fund issues are creating meaningful undervaluation which will unwind over time as QE itself eases. The end result will be a rerating of these businesses edited to add today's move may be planning related on their surplus Berkshire land ?

[castleford tiger] 16/8/2017 17:28

I had a very interesting conversation with David Cowen, FD of Molins (LON:MLIN), yesterday. For as readers may recall I have begun seriously to doubt the widespread reports that company after company is insolvent because of deficits in their pension funds.

I am certainly not an actuary but in essence computation of a surplus or deficit depends upon a number of factors. They are: life expectancy, the rate of inflation to be expected, the yield and capital gains to be expected from the portfolio and, above all, the cost of annuities to guarantee the payment of a pension. This last figure depends upon the yield on gilts where, as I think readers will agree, an entirely absurd state of affairs obtains as a result of Quantitative Easing.

Surely, QE will cease and a yield of the order of 4 or 5% p.a. will apply. Therefore it is wise for the authorities to give a revised and higher yield for gilts to allow pension fund trustees to behave sensibly. Believe me the reduction in the pension fund liabilities to pay/purchase gilts if interest rates are higher is staggering.

Take MLIN itself: The liabilities are circa £300m (which should be contrasted with tangible net asset value of the order of £15m or 75p per share) reduces by £2.5m for each tenth of a per cent gilts yields rise. So a 1% rise means £25m off the liabilities figure.





It does not take a great deal of imagination to see that MLIN’s pension fund could shortly be massively in surplus.

tiger

[castleford tiger] 16/8/2017 17:25

What is more interesting is the note on pension schemes Here it is disclosed that at the end of 2015 the value of the fund was £346.9m as against the actuarily computed liability of £336.3m. That surplus of £10.6m would be subject to tax if it could be credited to profit and loss account. But, even so, it’s a lot in relation to Molins and a remarkable improvement upon figures arrived at in 2012.




tiger