Mpac Share Discussion Threads

[darrin1471] 27/2/2023 14:37

"With factory acceptance testing completed and final equipment installations nearing completion, FREYR is on track to commence operations at the Customer Qualification Plant (“CQP”) in the first quarter of 2023 as previously communicated"

[darrin1471] 27/2/2023 12:40

FREYR "exploring fast-track options to establish rapid production at Giga America in 2025"

[darrin1471] 27/2/2023 11:39

"FREYR announces the formal opening of the CQP on March 28th 2023"

hxxps://ir.freyrbattery.com/events-and-presentations/presentations/default.aspx

[darrin1471] 27/2/2023 11:36

Gorse. Unsure. If pension already holds gilts do they have to mark to market their value? If they hold stock, will that of lost value over the last year?

[gorse] 27/2/2023 10:37

I presume that the rise in gilt rates over the last few weeks will help in reducing the pension deficit.

[castleford tiger] 21/2/2023 15:47

Took those trading shares out too early
This has been a much earlier spike than I saw coming but now back at fair value ( in my opinion ) until we see progress updates.
Tiger

[lucicavi] 21/2/2023 11:54

discodivvy u stull showrt

[our haven] 17/2/2023 09:30

Results out 22nd March I see.

[castleford tiger] 15/2/2023 08:53

Took a profit on the shares bought at 2.25 my core holding remains.
Any weakness will see me back bargain hunting.
Tiger

[disc0dave45] 14/2/2023 17:03

RedI was simply deducting their payments and costs (that will continue for another two years or so) from their bottom line earnings.Not got my figures wrong, as I've said numerous times now, it's your choice in making any rating / value assessment whether you do as I've done or not. I'd just prefer to do just that as it's a significant sum in comparison to their profits and I wouldn't consider it an exceptional expense that not accounted for, but clearly the market doesn't agree - so be it tbh.Hopefully holders will make a decent profit here it's just not an investment for me for other reasons too.

[redwing1] 14/2/2023 16:17

Disco - I think you have got your numbers wrong. If you look at last year's annual statement you will see that the pension fund is in surplus on an IAS 19 basis but contributions of £1.9m are still being made annually by MPAC to reflect the £35m deficit on a statutory basis. The deficit recovery period was reduced from 14 years to 6 years in 2018 and with bond yields moving favourably since then payments may actualy stop earlier still.

Obviously, MPACs earnings have been volatile for several years now but in a reasonable year the pension payment will only absorb about 20% of free cash flow and so I can't see where your prospective p/e number comes from?

[blackhorse23] 14/2/2023 14:10

Switched to CURY https://www.proactiveinvestors.co.uk/companies/news/1005917/currys-focused-on-restoring-profitability-says-broker-1005917.html

[castleford tiger] 14/2/2023 12:18

Thanks disc0

[mfhmfh] 14/2/2023 11:37

Takeover target due to huge potential?

[value viper] 14/2/2023 10:52

Hhhmm company to make a statement good bad or indifferent but after that rise etc

[disc0dave45] 14/2/2023 10:40

Yep congrats CT :)

[shaker45] 14/2/2023 09:31

I guess you were averaging down Tiger, but you have a nice trading profit on your recent buys.good call. Well done.

[our haven] 14/2/2023 09:15

Pleased to see no profit taking at the opening this morning with buyers taking the lead.

[onjohn] 13/2/2023 23:35

See u at 6 squid

[disc0dave45] 13/2/2023 22:08

I'm deducting their pension payments, as said previously it's personal choice, I'd sooner value the business taking onboard known expenses (it's not exceptional it's been ongoing and reviewed every 3 years). Yes on 10x forward PE if you believe earnings will nearly double when their order book has been decimated - think finals in March will set the scene and hope holders do okay.When you say it's fully funded what do you mean?, it comes from cash generated by the business, or is that what you mean.Until it's reviewed they will be outlaying a fixed sum and incurring costs, then who knows what the payments will be, nobody can say for sure it will be reduced.

[redwing1] 13/2/2023 19:57

Discodave - I don't know how you are calculating your numbers but Equity Development have them making c£7m of pre-tax profit for 25p of earnings next year, putting them on 10x p/e for 2023. Doesn't look expensive to me.

Yes, there is the pension fund issue, but its well funded and bond yields have moved in their favour, so contributions should reduce at the next triennial valuation.

No doubt that 2022 was a disappointment but the risk/reward looks favourable from here.

[disc0dave45] 13/2/2023 17:16

Be interesting to see what their outlook statement says next month, particularly with the drop in orders.So this FY net profit f/cast at £4.5m, deduct at least £2.3m to £2.7m cash they prefer not to expense on underlying numbers and it's on a forward PE of 29x.What's that saying about profit warnings?.

[castleford tiger] 13/2/2023 16:06

Clearly the business and its strong order book has attracted the interest of the tip sheets.
Last year was awful but it’s gone and profits should double in the current year.
I think the management will deliver but not everyone does.
At 10 x eps forecast and net cash it looks cheap.
I still hold my stake
Tiger

[blackhorse23] 13/2/2023 13:28

Switched to CURY