The Artisanal Spirits Share Discussion Threads

[edmonda] 20/7/2022 08:12

#ART Strong 25% sales growth, a further 24% advance in membership numbers and important progress at the Masterton Bond facility were key features of a trading update released by The Artisanal Spirits Company (ASC) today. Furthermore, the company reiterated its ambition to double sales revenue between FY2020 and FY2024. With a focus on the ultra-premium category, a fast-growing global membership base and embedded value in its maturing whisky stocks - £430m at retail - we continue to argue that fair value for the shares is 150p.

The Artisanal Spirits Company’s clear and resilient route to growth, which is discussed in more detail in this report, is not reflected in the company’s share price. Putting those strengths to one side though, investors should recognise that the company’s maturing stock of Scotch whisky has an estimated value of £430m. This is more than 10 times the entire market cap of the company. The current share price shows no recognition of the intrinsic value that underpins it.

In addition to this, there are strong arguments for the shares to trade higher on revenue growth considerations. We reiterate our 150p per share fair value at which price the shares would trade on 5.5x EV/sales in FY2022 and 4.1x sales in FY2024, based on our estimates.

[wolansm] 25/5/2022 10:20

Took a few more

[18bt] 24/5/2022 07:44

Strong AGM statement. I've just renewed my membership.

[battlebus2] 15/4/2022 19:12

Yes I agree, looks very undervalued given the growth prospects. I see 120 as fair value but DYOR etc 👍🤣

[pre] 12/4/2022 09:08

lol...nice to see you here battlebus2 - must say this one is very much under the radar at the moment and management seem to be doing all the right things. Good to see them buying more shares here.

[battlebus2] 11/4/2022 15:32

Joined you here pre with a few. I’m partial to whiskey 🥃 so why not 🤣

[pre] 11/4/2022 08:41

Yet another director buys, this is another vote of confidence and who can blame them buying more as it is due a serious rerate imo

[pre] 07/4/2022 13:04

whopping 330, 000 share purchase by director, big vote of confidence coupled with the great results which were announced recently

[quazie12] 07/4/2022 12:00

Good to see buys but the spread on this share would put me off investing another bean

[pre] 04/4/2022 08:20

Rns director buys and stellar results

[edmonda] 31/3/2022 10:19

David Ridley, Managing Director, and Andrew Dane, Finance Director, discuss their Full Year Results. With an eye to the global possibilities of the business, they talk about the opportunities in the different geographical jurisdictions, as well as expanding on the margin potential that comes with a sensible buying strategy of younger whiskies. Team, culture, and events are also discussed alongside the potential for new brand JW Thomson.

[edmonda] 29/3/2022 09:44

Full year FY2021 results for The Artisanal Spirits Company delivered both sales revenue growth and member numbers ahead of market expectations. Moreover, a sharp rise in membership towards the end of FY2021 gave the company the “best possible start” to the current year and raises our confidence in the group’s ability to deliver another year of around 20% higher net sales revenue.

We leave our expectations for sales revenue, gross profits, and EBITDA unchanged. And we continue to argue that fair value for the business is 150p per share – i.e. considerably more than the most recent close. At 150p the FY2022 EV/sales ratio would still be only 5.5x, remaining well beneath that of the Artisanal Spirits Company’s two identifiable peer groups: distilled spirits and luxury goods.

[macc1] 29/3/2022 07:57

here's a video update from the management

hxxps://youtu.be/_5SW8BlFbRc

[grupo guitarlumber] 22/2/2022 16:46

CITYA.M


Tuesday 22 February 2022 4:19 pm

Robots and AI’s not allowed to copyright artworks, US Copyright Office says

By: Louis Goss

The US Copyright Office (USCO) has said Artificial Intelligences (AI’s) should not be allowed to patent their own work, after ruling that copyright claims can only be registered on work containing element of human authorship.

The Copyright Office ruled that artificial intelligences (AI’s) should not be allowed to secure copyright on any content they produce, after computer scientist Stephen Thaler set out to register a copyright claim for a computer-generated artwork produced by his “Creativity Machine”.

A three-person board at the USCO ruled that in order to secure a copyright registration, any claim must have an element of “human authorship,” as it ruled that copyright law only protects “the fruits of intellectual labour” that are “founded in the creative powers of the human mind.”

The ruling comes after Thaler first sought to register a copyright claim on a 2D image created by his Creativity Machine, called “A Recent Entrance to Paradise.”

In 2019, a copyright specialist refused to register the claim, on the grounds that the artwork “lacks the human authorship necessary to support a copyright claim.”

Thaler later filed a second request as he argued the USCO should allow computers to copyright “machine-generated works” as he claimed that doing so would “further the underlying goals of copyright law.”

He argued that the Copyright Office is relying on case law from the “Gilded Age” to determine whether AI and machine-made artworks can be patented, as he said that computer generated images fall under the USCO’s work-for-hire clause.

The Copyright Office board ruled that as the artwork was autonomously created by an AI, it is not protected under copyright law, as the laws only apply to works by humans. As such, the USCO refused to grant Thaler a patent.

[quazie12] 18/2/2022 23:52

Yeah but refer to points made in my post below. We all know what broker target prices are. Don't think this is undervalued at all based on the analysis. In fact the market did wake up and spoke. The float price was basically too rich. One positive is that smws membership is up ytd. Thats good but we dont know what the churn rate is, where the average spend per customer is heading or cost to acquire. Time will tell

[grupo guitarlumber] 10/2/2022 08:59

if revalued might it be worth USD 2 Million

[...]

[blueball] 07/2/2022 16:34

Syd Barrett watercolour for sale in Cambridge 24th Feb.

[pre] 01/2/2022 10:24

They beat expectations in the trading statement just over a week ago - mkt needs to wake up to this as current share price looks attractive - see below where equity development have issued a note with target of £1.50

www.equitydevelopment.co.uk/research/well-positioned-for-strong-sales-growth-in-fy2022

[quazie12] 31/1/2022 17:50

Appreciate the link to the research note but it is completely bizarre and in a way worrying that the author would chose to compare ASC ev/sales ratio with either Hermes or LVMH. I wouldn't consider SMWS to be remotely comparable a global leader in luxury lifestyle accessories so why do so ? Again if they pluck a 5.5 ev/sales ratio as fair value yet state that LVMH is trading at less than that on 2022 eatimates it doesnt atavk up

[18bt] 20/1/2022 07:56

Good maiden trading update. This will clearly fly under the radar for a bit until they build a track record, but this bodes well.