Ms Share Discussion Threads

[cockerhoop] 07/4/2022 13:03

Absolutely clear if MSI are able execute on the the US Naval Program that it's transformational for both the defence division and the company.

Interesting that their recently developed Electro Optical Sensor is also included in the spec, presumably a high spec, high cost piece of kit.

[profdoc] 06/4/2022 10:00

Thanks Norbert, that was most encouraging (I won't pretend I understand all the jargon though!)

[hydrus] 05/4/2022 15:37

Thanks Norbert

[westofengland] 05/4/2022 15:30

Most impressive. Thanks for drawing our attention to these notable developments.

[norbert colon] 05/4/2022 15:16

UK MoD (Royal Navy)
Indonesia
US Navy
Thailand
Ukraine
Malaysia
Iraq


22 Navies worldwide in total - I don’t know them all….

[hydrus] 05/4/2022 14:20

Is there a way of seeing which counties they supply defence equipment to?

[norbert colon] 05/4/2022 13:32

From 4m 30secs onwards:https://www.youtube.com/watch?v=90BV0WzsndkReferences made to future fleetwide roll-out is encouraging...

[norbert colon] 05/4/2022 11:49

https://www.navalnews.com/event-news/sea-air-space-2022/2022/04/usn-and-usgcmoving-to-adopt-mark-44-30mm/

[norbert colon] 17/3/2022 13:29

Some interesting commentary re: strong demand in US for telehandlers/ and other aerial equipment. Potentially a good read across for our forks biz in the US:https://www.forkliftaction.com/news/equipment-auctions-heat-up.aspx?n=25795

[norbert colon] 15/3/2022 21:51

Interesting, I hadn't noticed that before. Good spot!

[cockerhoop] 15/3/2022 20:28

Simon,

This from Milrem suggests a 30mm cannon option is already available.

[norbert colon] 15/3/2022 09:25

Lots of interesting positive debate on social media currently about the use of 30mm RWS on military vehicles in Ukraine and how effective they are. MSI Terrahawk currently only 12.7mm but they have the tech and knowhow from the Seahawk to make a 30mm land based RWS.

[illiswilgig] 11/3/2022 15:28

I agree it's guesswork. That said I like to hazard a guess - if only so that I can see how far off I was and attempt to calibrate my next guess better.

H1 results disappointed me in that Defence slipped back into loss. Apparently caused by the ramp up in work in preparation for a number of deliveries in H2. Which implied that we expect a bumper H2.

The market seemed better pleased than I in that the 770k pbt was a big improvement on the loss the year before. And I was pleasantly surprised that the other divisions performed better than I expected with superstructures returned to profit and branding reduced losses. Which serves as a useful reminder of how hard it is to predict even the direction of travel let alone size of outcome for each division.

My best guess for H2 is to take the defence results from H2 last year together with maintained results from H1 of this year for the other 3 divisions.

That gives an operating profit of 5.8m for the full year if my spreadsheet is to be believed. Pbt won't be far below that? And eps of around 25p with a nominal 25% tax rate.

As I say - this is just a best guess - I don't expect it to be right - based upon the H2 outcome for defence last year and maintained outcome for the other divisions from H1 this year.

At 250p share price it's on about 10x for that outcome - significantly less adjusting for the cashpile - and with defence budgets rising now an increased rating is deserved I think, so it still looks cheap to me on these figures,

cheers

[norbert colon] 11/3/2022 12:51

One of the challenges with MSI in particular is that forecasting segmental or Group profits is a complete stab in the dark based on history. That said, the recent narrative and outlook for forks and defence bodes well.

[eezymunny] 11/3/2022 12:13

On a bit of a tear.

Any guesses for 2022 and 2023 pbt? I really have no idea other than a gut feel it could be up there with the best years.

[norbert colon] 10/3/2022 17:44

Milrem are at the World Defense Show in Riyadh this week. On display a #CUAS #THeMIS #UGV with MSI-Defence Systems Ltd's TerraHawk.

[norbert colon] 03/2/2022 16:01

Yes it would seem they are a well respected partner that will hopefully provide some air time to MSI. It would be good to see some more newsflow in the US orders and/or other orders for this mount.

[illiswilgig] 03/2/2022 15:18

Thank you for the link Norbert,

Very good to see and delighted that Northrop Grumman are in there pushing the MSI mount,

cheers

Illis

[norbert colon] 03/2/2022 10:39

https://youtu.be/gQCUX34tP-cMk38 Mod4

[norbert colon] 20/1/2022 20:24

Yes it's certainly plausible.With the RFP for procurement of the Mk38 Mod4 being floated by NAVSEA this quarter with award currently planned for this time next year, it could be a game changer if MSI are successful - order value up to $250m for the initial planned main run of these guns.

[illiswilgig] 20/1/2022 18:10

The FD just transferred 23.5k (around £50k+ in value) out of his SIPP and into his ISA and personal holdings.

FD's don't normally move shares around without a good reason?

One reason I can think of is that further share price gains could cause a life-time allowance tax charge?

I might well be wrong - but I'm tending towards reading this as confirmation that H2 is going well?

cheers

[nico115] 12/1/2022 12:45

Bought some today Look bloody cheap

[this_is_me] 08/12/2021 08:43

Yes, all the numbers are going in the right direction despite the best efforts of the virus.

[playful] 08/12/2021 07:12

We are doing well here 😊