The Simplybiz Share Discussion Threads

[masurenguy] 20/11/2020 15:47

A 7.5% upsurge in the shareprice this afternoon on no news and an average daily trading volume. Could there be something in the pipeline prior to the next scheduled analysts briefing on 9 December !

[masurenguy] 12/11/2020 15:23

An update could come next month prior to the year end pre-close statement at the end of January.

SimplyBiz will hold a virtual Capital Markets Briefing for analysts and investors on Wednesday, 9 December 2020 starting at 14:00.

[its the oxman] 12/11/2020 12:25

175p offered, can see this back around 200p without much trouble. May need a positive update , which seems quite likely, to break higher.

[its the oxman] 11/11/2020 15:02

Picked a few up today. Looks a decent quality business which can get back to its previous business levels once normality resumes after covid. Not much of a recovery bounce in the price yet.

[davidosh] 24/9/2020 11:35

Simply Biz are presenting on Monday evening 28th September at the new Mello Monday virtual event that will be hosted by Mello Events with a very entertaining and educational programme lined up.

The full three hour programme can be viewed here....



All investors welcome

There are still tickets left if investors would like to join....use the code MMV5 for a ticket costing less than a fiver.

[masurenguy] 23/9/2020 16:50

Hmmm....price dropped 10% after 2.00pm this afternoon on a selling volume of circa 47,000 shares. All small transactions in the 1000 - 1500 volume range. If it slips any further tomorrow then it could present a further top up opportunity !

[hatfullofsky] 16/9/2020 19:05

Rubbish - the quality of earnings are exceptional, hence the results. The add-ons give the extra value and will return when we get back to normal

[energeticbacker] 16/9/2020 10:29

Interim results demonstrated mixed resilience, with certain parts of the business suffered more than others.

Management maintained full year guidance for adjusted earnings per share of no less than 11.0p which equates to a current year multiple of 14.2x. While this looks relatively modest this doesn’t look like the sort of business that will deliver meaningful organic growth.

More on the Investor's Champion website.

[masurenguy] 15/9/2020 07:49

Solid Progress in H1.

Resilient Performance - Digital Acceleration

SimplyBiz (AIM: SBIZ), announces its unaudited results for the six months ended 30 June 2020.

Financial highlights:

-- Revenue of £28.9m (H1 2019: £29.1m)
-- Operating profit of £5.0m (H1 2019: £3.2m)
-- Adjusted EBITDA*(1) of £7.4m (H1 2019: £8.0m)
-- Adjusted EBITDA*(1) margin of 25.5% (H1 2019: 27.5%)
-- Adjusted EPS *(2) of 4.22p (H1 2019: 5.57p)
-- Free cash flow conversion*(3) of 65% (H1 2019: 43%)
-- 30 June 2020 net debt of £25.8m (30 June 2019: £30.1m)
-- Full year guidance maintained - adjusted EPS no less than 11.0p (PY: 13.0p)

Operational highlights:

-- Digital strategy accelerated
-- Scale and growth in intermediary services
-- Decisive cost control and efficiency improvements
-- Strong performance and contribution from Defaqto
-- Mortgage completions of £7.4bn
-- Awarded Service Company of the Year

Operational Update

The company took strong and positive action within the first week of national lockdown to successfully ensure it could fully support its customers and colleagues. All services to intermediary customers were moved onto a proprietary digital platform and delivered without disruption. Decisive cost control and efficiency improvements were made which will deliver sustained margin benefits in the future. Fintech & Research remained resilient and robust over the period with continued product developments to support our future growth.

The Company's mortgage valuation business and events programme were significantly impacted by the lockdown, though volumes moderately increased in June. Management expects a continued slow recovery in the housing market during the second half of the year. Mortgage completions were consistent with prior year, further demonstrating the resilience of our customer base and services.

Management quickly and successfully moved to agile working, bringing forward and enhancing developments to the digital platform, enhancing the delivery of services.

Matt Timmins, Joint CEO of The SimplyBiz Group plc, commented:"We are delighted to report strong and resilient trading for H1 2020, demonstrating the robust nature of our business. We benefitted from an improving quality of our underlying earnings, under-pinned by six full months trading from Defaqto which helped offset a significant reduction in valuation income during the period. The quality of our revenues, the resilience of our customers, and the benefits of a stronger digital delivery platform have enabled strong trading during challenging times. We have responded quickly and decisively to deliver growth in key strategic areas, whilst improving the quality of our underlying earnings. We have accelerated our digital strategy. This data led, digital delivery, will further improve our quality of earnings, margins and cash generation going forward, whilst also improving customer service."

[masurenguy] 27/8/2020 08:17

Interims due on 15 September, which is two weeks on Tuesday.

[hatfullofsky] 18/8/2020 14:58

Bought back in this morning, quality company that has not recovered like most. Expecting a rise to the results

[masurenguy] 27/7/2020 08:56

SimplyBiz ‘share price should reflect the improved quality of its earnings’ Zeus Capital
(Analyst Interview)

[masurenguy] 23/7/2020 13:38

Topped up today.

[davebowler] 23/7/2020 09:08

Zeus-
Recurring revenues show quality
What’s new: SimplyBiz’s 1H trading update confirms that recurring revenues from Defaqto and Intermediary Services have limited the impact of lockdown on revenue and EBITDA. Full year guidance: adj EPS of no less than 11p. Key points:

§ 1H20 revenues of £28.9m (0.7% lower than 1H19: £29.1m), with Defaqto acquisition in March 2019 offsetting a significant reduction in valuation revenue caused by lockdown restrictions.

§ 25.5% EBITDA margin benefited from cost management (1H19: 27.2%).

§ Cash flow conversion expected to exceed 65% (1H19: 40%).

§ Net debt at 30 June 2020 of £25.8m; Group well within banking covenants.

§ Board expects 2020 adjusted EPS shall be no less than 11p (FY19: 13p).

§ Intermediary Services division continues to deliver all its services to customers without disruption … and continues to recruit new member firms.

§ Distribution Channels division has been significantly impacted by the lockdown restrictions in the second quarter, with the volume of valuations and surveys moderately increasing in June.

§ Interims are scheduled for publication on 15 September.

Outlook: Matt Timmins, Joint CEO, said the “lockdown period has allowed us to accelerate our clear digital strategy which will further improve our quality of earnings, margin and cash generation going forward.”

Zeus view: SimplyBiz’s resilient business model and its acquisition of Defaqto in March 2019 have enabled the group to report interim revenues down only 1% YoY and a respectable EBITDA of £7.4m (down 6% from 1H19: £7.9m).

We set out new forecasts, consistent with management guidance, on pages 2 and 3, along with our assessment of the revenue streams and divisional EBITDA margins. We expect Intermediary Services and Defaqto will together contribute 73% of both 2020 and 2021 EBITDA. Group earnings quality has improved.

Valuation: At 150p SBIZ is trading on 13.6x our new 2020 forecast adj EPS of 11.0p, which including share based payments.

We expect SimplyBiz to provide investors with higher than market earnings growth and have defensive qualities. With prospects of double digit earnings growth over the next few years (driven by Defaqto and Intermediary Services), a valuation of 16x Zeus forecasts 2021 adj EPS of 12.2p (i.e. 195p) is, in our opinion, credible.

[masurenguy] 12/6/2020 13:18

Lombard Odier have reduced their stake by 41% from 8.32% to 4.91% by not taking up their placing rights for the DeFaqto acquisition and by a subsequent share sale on 24 April this year. Meanwhile Liontrust have increased their stake by 6% this year. Major shareholders updated in the header.

[tjbird] 28/5/2020 13:08

Lets get ready to rumble

[18bt] 28/4/2020 07:38

Their surveying business has been completely caught out. Most of the mortgage market has moved quickly to e-surveys, without a physical inspection and at lower LTVs. I'm not sure that part of their business is coming back easily - they need to develop that capability. The mortgage brokers are going to find life difficult for some time.

[euclid5] 24/4/2020 19:34

reduced % from 6.22% to 4.91% reduced by 1.267m shares

[masurenguy] 24/4/2020 07:27

Lombard Odier Asset Management have reduced their position by 20%, from 6m to 4.75m shares.

[af004] 09/4/2020 14:27

Decent co and no doubt this will rerate with limited.impact of current crisis and need of firms around regulatory compliance with Brexit.