The Simplybiz Share Discussion Threads

[masurenguy] 10/3/2021 10:57

This thread is now closed - new thread here !

[rik shaw] 10/3/2021 10:25

The SimplyBiz Group Becomes Fintel plc
New name and new EPIC: FNTL

[its the oxman] 25/2/2021 13:24

Nearing 200p, been a long overdue move.

[its the oxman] 15/2/2021 18:52

Got to push higher soon with wider market so strong

[its the oxman] 05/2/2021 12:22

Very disappointing this hasn't moved , general lack of interest, hoping results spark something.

[energeticbacker] 27/1/2021 12:13

Featured in Investor's Champion update –

Revenues were marginally lower at £61m but they failed to offer guidance on profitability, simply that adjusted EPS would be ‘marginally above’ 11.0 pence per share – the house broker is forecasting adjusted pre-tax profit of £13.6m.

[davebowler] 26/1/2021 09:11

Zeus;
Marginally ahead of July guidance
What’s new: SimplyBiz’s trading update gives clear guidance for their full year results due on 16 March:

§ £61m revenue (3% below 2019 revenue: £63m);

§ 28.3% adjusted EBITDA margin (same as 2019: 28.3%), which implies £17.4m adjusted EBITDA (i.e. 2% lower than 2019 adj EBITDA of £17.8m);

§ Robust cash flow conversion (calculated as adjusted EBITDA, less working capital movements, lease payments, CAPEX, development expenditure, corporation tax paid and interest, as a percentage of Adjusted EBITDA) is expected to exceed 65% (2019: 46%);

§ Net debt reduced to £19.5m (31 December 2019: £27.0m) and net debt to adjusted EBITDA ratio of 1.1x (2019: 1.5x).

Guidance: The Board raised its confidence in adj EPS to “marginally above 11.0p” (from “no less than 11.0p”) and guides to final DPS of no less than 2p per share.

Outlook: Matt Timmins, Joint CEO, observed the “resilient trading performance in a challenging year, demonstrate[es] the robust nature of our core revenues and an ongoing improvement in the quality of [core] underlying earnings, offsetting an expected reduction of valuation income in the period.

“Throughout 2020 we have … accelerate[d] our digital strategy, grown our core customer base, and delivered … new services which will further improve quality of earnings, margins and cash generation.”

Zeus view: We nudge up: our 2020 forecast revenue 2.9% to £61.0m; our EBITDA up 2.4% to £17.3m; our adj PBT and adj PAT up 1.8%. Consequently, we raise our adj EPS forecast by 1.8% to 11.2p (July guidance was “no less than 11.0p”).

Cashflow is stronger than we expected: net debt of £19.5m is £2.3m lower than our £21.8m forecast. We reduce our December 2021 net debt forecast by £2.2m to £13.0m. We estimate cashflow after capex of c. £8.5m (i.e. 8.8p free cashflow per share); implying free cashflow to adj EPS ratio of 79%.

We will review our 2021 forecasts and set out our 2022 expectations, when management discloses 2020 core revenues and EBITDA, on 16 March.

Valuation: At 181p, SBIZ is trading on prospective PER of under 15x, which arguably does not reflect the quality and growth of its core digital businesses which generate 80% of Group revenues and over 90% of Group EBITDA.

In our opinion, as set out in “Digital Transformation”; our 13 January 2021 note, SimplyBiz’s Core business, when it grows revenues organically at 5% to 7% pa, and operates on a 35% to 40% EBITDA margin, should trade on a sales multiple 4.5 to 5.0x and ungeared PER multiple of 18x to 19x. NB: On 5x Core revenue 2021 forecast of £51.7m = £258m = 267p per share.

[davebowler] 25/1/2021 09:36

AFH takeover -

[its the oxman] 19/1/2021 10:32

Shame they don't get some wider coverage, hopefully the next update will spark some buying.

[masurenguy] 19/1/2021 08:28

ItO - while you can usually buy inside the spread I'd agree that it can be frustrating at times. With nearly 100m shares in issue the average daily volume, since the beginning of this year, is only circa 35,000. The shares are tightly held by insiders and institutions with the top 7 holding circa 70% so they are often quite illiquid. The good news is that it currently looks to be heading towards 200p.

[its the oxman] 18/1/2021 09:36

Wide spread is a bit annoying, does close at times, if offer was 175p and not 185p I might well add more. Zeus 267p seems quite realistic in time if co delivers and given where it was pre covid.

[its the oxman] 17/1/2021 15:53

Cheers Masurenguy, hopefully the sentiments in the Zeus update will be bourne out.

[masurenguy] 15/1/2021 09:28

"Wrong thread" Then why post here ! This is the SBIZ thread.

"Were you in RIFT ?" No.

NB: Major shareholders updated in the header.

[scruff1] 15/1/2021 09:15

Wrong thread but masurenguy - thats a blast from the past. Were you in RIFT ?

[masurenguy] 15/1/2021 08:29

Positive Zeus Capital update on Simplybiz.

[its the oxman] 24/12/2020 12:15

Not sure if sellers being mugged today by buyer try to avoid pushing the price up, bid now 179.5p after sales in the 160s, reckon this will spike up soon.

[its the oxman] 16/12/2020 15:19

Feels like good value back in 170s , as still looking for break of 200p.

[its the oxman] 11/12/2020 11:04

Hard to know what's going on with Brexit looming large again , but sbiz seems to be doing pretty well so happy to sit tight.

[jimtech] 10/12/2020 11:01

At the beginning of yesterday share price was up around 5%. I watched their Capital Markets presentation and was impressed by their plans but the share price was down -8% at the end of the day.
Did I miss something yesterday?
I am a holder at 153p.

[its the oxman] 10/12/2020 10:07

Added 182p this morning, good update and wants to go higher

[masurenguy] 09/12/2020 08:01

Trading Update

The Board reaffirms, and is confident, that its adjusted EPS will be no less than 11.0p
The Board is confident that Defaqto will deliver double-digit EBITDA growth in 2020
The Board announces its intention to propose a final dividend for FY20 of 2.0p per share

[masurenguy] 05/12/2020 08:55

Latest investor presentation.

[masurenguy] 23/11/2020 12:34

9 month high this morning ! :o)

[jimtech] 20/11/2020 17:18

10.9% up by end of day. Is it just confidence in the housing market suggesting healthy mortgage valuation business?