Sig Share Discussion Threads

[scemer] 22/10/2024 15:28

Puzzle you are correct, they use the word stability, gives them breathing space while there market turns,it's already starting

[puzzler2] 21/10/2024 07:45

Am I correct in thinking that insofar as the recent bond issue is concerned, SIG is repaying a bond issue of €300m at 5.25% with an equivalent bond issue at 9.75%? If my understanding is correct, then that will be an increased interest cost of €13.5m p.a. - for a company already losing money and suggesting a declining performance in 2024.

[diku] 01/10/2024 18:11

Have you seen the margins?...

[ianio5691] 01/10/2024 13:28

Fortunately not.
Have held these at various points in the past.
Had a friend that was once a Director and shared a few horror stories over the years.
Still watch with morbid interest.

As you say, with the current push for insulation, they should be flying.

They have spawned so many of their own competitors, especially in Interiors and Insulation, staffed by motivated, revenge driven bitter ex-employees.

Quite a story.

[pugugly] 01/10/2024 13:08

Ian - Sounds very fair comment - Were you ever or are you now associated with this mess either as a customer or an employee.

With the current / forward insulation requirements for home SIG should be in a sweet spot but cannot see any indication that they are trying to capitalise on the regulatory opportunities

[ianio5691] 01/10/2024 12:54

The chart looks horrific!
Though accurately portrays the story, and root of the problem here, which is simply down to a succession of bad management.
It grew exponentially in the noughties through a wave of poorly thought out acquisitions.
They overpaid for countless businesses, chasing turnover and market share, consequently racking up a gigantic and unsustainable debt pile.
They then had similar businesses openly competing with each other within the same market sector!
Talk about cutting your own throat...
When the credit crunch hit, the spokes really flew off in every direction, and they really did throw the baby out with the bath water, with a fire sale of some of the jewel in the crown key asset businesses.
The subsequent move to open centralised mega-hub centres has been an absolute disaster, both logistically, financially and motivationally.
They then went through streamlining, and again threw numerous key people overboard, and sold more cash generative assets such as Air Handling.
Hilariously, they have recently tried to re-employ a lot of the people they made redundant or forced out, at vastly inflated wages!
Some shocking decisions - and a share price quite rightly in the doldrums.

[teddy100] 13/9/2024 12:03

The covenants don't expire until May and November 2026, the main one is 300M due in November 2026. They have a 100 Mil cash plus 90M RCF. They are in no hurry for a cash call. Is this a case of journalists helping their buddies out and watch the share price drift? I was waiting for sub 20p, but this looks like good value to me. Once their is an uptick in the industry, it will move quickly.

[skinny] 12/9/2024 10:06

I thought I'd have another look at these - that's some long term chart!

[its the oxman] 12/9/2024 09:32

Yep need to raise funds then let's see what the share price is. . Watch and wait..

[diku] 06/8/2024 12:23

What happened to media reports of another RI?...

[pugugly] 06/8/2024 09:23

Anyone seen any broker research - Nothing on Research Tree.

[blackhorse23] 06/8/2024 08:32

Bad results

[pugugly] 06/8/2024 06:59

6 month results diabolical as expected . However management still calling 2024 underlying profits in range £20M to £30M - Rose tinted glasses??

[bertiebingo] 29/7/2024 12:10

The 5.25% Nov 26 is trading ok. Yield slightly down to 8.8%. Credit market seeing an equity raise as positive.

[s34icknote] 28/7/2024 22:17

Didn't they sell a company to keep the debt down a few years ago ?? Also raised money 150 million ??And here we are again wanting another 150million ?The mind boggles on why you would keep this company going ? Sapping 300 million with sales now falling ?? Can't be making any money ? What's the bond debt situation ?I remember this going to 12.00 before 2008 financial crash !

[pugugly] 28/7/2024 11:01

Possible crash on Monday ?
Sky News has learnt that SIG, which has a market value of just over £300m, is considering raising up to nearly half that amount through an equity-raise in the coming weeks.


In a trading update last month, SIG said full-year underlying operating profit was expected to come in at between £20m and £30m, below market expectations.

"Whilst market conditions remain challenging in a majority of areas, the board continues to expect its strategic and commercial initiatives to benefit medium-term margin and profit growth, also supported by meaningful operating leverage when market volumes recover," it said at the time.

The company added that "subdued demand" had been "most notable in the French and German markets, and in the end markets of our UK Interiors business".

SIG is due to report first-half results on 6 August but may come under pressure to clarify its intentions as early as Monday morning.

The company has seen its shares fall by more than 10% during the last year.

[bertiebingo] 27/7/2024 20:40

Massive cash call, was inevitable

[dvb99] 12/7/2024 10:32

4 brokers issue buy - thats usually a SELL signal to me!

[blackhorse23] 28/6/2024 10:47

Switched to RNK [better change to capital gains] 4 brokers issued strong BUY

[blackhorse23] 24/6/2024 09:37

Forecast no good

[pugugly] 24/6/2024 07:09

Timber!!!!!!!!!!!!!!
"Market conditions have remained challenging, with Group like-for-like1 ("LFL") sales decline vs prior year in May and June to date at c7%, which is similar to that seen in the first four months of the year, but behind expectations.

· Given the weaker than expected trading in recent weeks and a consequently more cautious view of the timing of any potential market improvements during H2, the Board now expects our 2024 full year underlying operating profit2 to be in the range £20m-£30m, which is below the current analyst range."

Full rns very gloomy.

[cerrito] 02/5/2024 07:25

Interesting that talking about deflation in certain areas and products.
They must have been pretty inefficient if they can make efficiency gains to offset declining sales such that no change in profitability estimates.

[blackhorse23] 05/3/2024 07:48

Profit down , debt up , earnings per share loss 3.8p

[blackhorse23] 05/3/2024 07:48

Very bad result

[pugugly] 05/3/2024 07:42

Kicker at the end
"Outlook

Looking ahead, the Group expects continued softness in market conditions in 2024."

Extra concealed profit warning?