Share Name Share Symbol Market Type Share ISIN Share Description
Velocity Composites LSE:VEL London Ordinary Share GB00BF339H01 ORD 0.25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +2.50p +3.23% 80.00p 75.00p 85.00p 80.00p 77.50p 80.00p 25,704 09:26:45
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Aerospace & Defence 21.4 -0.6 -2.0 - 28.64

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Date Time Title Posts
30/1/201813:29Velocity Composites PLC42
02/7/201519:33Vanoil - BIG oil prospects in EAST AFRICA !!268
28/9/201008:28VELTI - cheap and interesting?103
24/1/200614:39R EAST SECURITY-

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Velocity Daily Update: Velocity Composites is listed in the Aerospace & Defence sector of the London Stock Exchange with ticker VEL. The last closing price for Velocity was 77.50p.
Velocity Composites has a 4 week average price of 77.50p and a 12 week average price of 77.50p.
The 1 year high share price is 137.50p while the 1 year low share price is currently 76.50p.
There are currently 35,795,539 shares in issue and the average daily traded volume is 17,375 shares. The market capitalisation of Velocity Composites is £28,636,431.20.
jonwig: Thanks all for the recent posts. I must say that I misread the factors which drove the share price fall. However, as pointed out, future growth is bigger than originally anticipated, and capacity has to be bought. I hope the current management are able to manage the expansion. If the AGM is in Burnley, I'll be there. If Fareham or London, not.
jonwig: Share price spooked by possible fundraising? What else could it be? EDIT - I've added.
jonwig: The share price rose at just about the time this was released: Dubai’s Emirates Airline has signed an initial agreement to buy 36 Airbus A380 aircraft, including 20 firm orders and the option for 16 more in a deal valued at $16bn, marking a critical win that will salvage the super-jumbo jet programme. The deliveries, expected to start in 2020, will guarantee production of the plane for at least another decade, said John Leahy, Airbus’ sales chief. “I’m personally convinced more orders will follow Emirates’ example and that this great aircraft will be built well into the 2030s.” Https:// The A380 was in doubt since November, when the orders appeared to be cancelled. It's one of the key models which will trickle all the way through the supply chain.
jonwig: FinnCap this morning on the trading statement: The year-end trading update reads positively, with the group continuing to see a significant year-on-year increase in operations and profits, and having traded in line with expectations. No change to forecasts or price target, but with continuing strong conviction that the group’s growth trajectory is achievable. The low share price rating offers significant upside as the group delivers on its stated scale-up strategy.
mtioc: I agree that current performance does not justify share price, but nevertheless I have bought a small initial holding. In general any shares that currently have the characteristics that I like (e.g. ROCE>15% and relevant profit margin at least 10%, consistent growth, cash generative and management on the right side of the table etc..), are all too expensive for me (e.g. EBIT yields<4% versus the 8% I would like). In that case, if I could be reasonably confident that a share could meet these thresholds in the medium term, I may take that risk rather than buying one I consider very overpriced now. VEL has an EV of c. £30m and should make £1m EBITDA (normalised) on c. £20m sales. On its own, £30m is a ridiculous valuation, but if it made the forecast £4.5m EBITDA (on £35m sales) for the next year (and that was sustainable) it would be relatively cheap. Therefore the key is the confidence that VEL will grow to that level in the next few years. Commercial airliner production is set to grow significantly over the next 15 years. The major manufacturers, Airbus and Boeing, have developed their platforms and the next airframes will not appear until the mid to late 2020s (i.e. this is the period for them to recover their development investment). This is covered in detail in the listing docs. VEL mainly provides services to the Airbus supply chain. The new-ish Airbus wide body, A350, will double production from 5/month to 10/month and has a c. 9 year order book. The narrow body, the A320 with new engines, will increase from 50/month to 60 and has a similar order book. At the moment, we do not know how much revenue VEL gets from each aircraft produced. However, a bit of research suggests VEL is embedded in the supply chain and its sales should grow rapidly with production increases. In its latest news release it mentions a major US customer contract win. VEL only appears to have one major US customer, GE. Its composites (mainly for airframes) are done in Hamble (near Southampton) in an old Smiths facility. According to Googlemaps, VEL's facility in Fareham is 20 minutes drive away. Given Airbus order visibility the supply chain ramp up is no surprise - everyone in the industry has been talking about it for years. Since 2013, GE appears to have spent $50m on 2000m2 of composite clean rooms. In considering an investment of this size, it has still outsourced the relevant services to VEL (after making sure they could deliver on a PO basis first). VEL would therefore appear to be embedded in a very predictable and growing supply chain. The story of Safran Nacelles (mainly engine composites)in Burnley is very similar. (These big plant investments are covered in loving detail by local newspapers.) VEL may be able to expand this model with existing and new clients. GE for example may take it into the Boeing supply chain, where the latest models have more composites than any others. There could be potential to serve other commercial aviation clusters (e.g. Hamburg or Tolouse). I also like the fact the management team are at the right point in their careers, have significant shareholdings and a clear vision. Hope this is helpful, but as always DYR.
dropside: At £1.6m cap it is very cheap, but the liabilities make this high risk. However there are still deals to be done - with Kenya direct or through arbitration; Seychelles and L9. Compensation from Kenya could be rolled onto the liabilities and Seychelles (once settled) and potentially L9 could be farmed down. The intellectual property (3D seismic etc) on 3A and B could be sold. In time the Glencore deal and Witkop could be worth something. Just can't imagine Passin is throwing the towel in while discoveries are being made near 3A and Seychelles is looking promising. It would certainly help of course if they communicated properly with shareholders, no doubt that has damaged the share price. On the principle of buy when there blood on the streets I've added some more. Its very high risk but potentially high reward. Definitely no advice intended!
dropside: £3.1m market cap. Even if they lose 3A and 3B licenses, the other licenses are worth more than that. Plus the old Tunisia agreement and Witkop. Now looking well oversold, but they are not helping themselves with their Trappist monk communications. James Passin may own most of the company but surely he cares about the share price, it affects the value of his Firebird fund for one thing. A few pounds spent on an RNS, even if it does not say much, would bring us more up to date than keep re-reading Februarys news.
dropside: LOL! Very happy to have VEL as my biggest holding thank you :-) So trading has gone back a day, I hadn't noticed that. I still have FLOR shares in both broker accounts, not VEL as yet. I'm quite pleased how the VEL price has held up given the placing going on over there. Honestly speaking I would like to see a farm-in partner on these wells to spread the risk, however I am very excited about what we will discover- I note Africa Oil's recent hit rate in Kenya, every one has come up good. Afren too have high hopes of the Seychelles prospects (which we will also farm-down) so there is plenty to go at, and L9 too.
johnyee 7: but it says they will cease trading on aim in april,confused, I am. Last summer, Moukas and Kaskavelis, chief executive and chief operating officer respectively, said they planned to list on America's Nasdaq technology market. The new shares finally started trading on January 27. US investors snapped them up and the London share price rose in parallel. Now Velti plans to cancel its Aim membership and shares will cease trading here some time in April. Existing investors have two options. They can either transfer their shares to America or sell them in the market. Midas verdict: Swapping British shares for US ones is a logistical headache. Velti shares may continue to do well but investors who bought at 150p have been richly rewarded and are advised to sell now and put the money into something more accessible.
matt123d: Just a basic calculation of the percentage movement of the last breakout. Remarkable how many traders watch levels like that so will be a potential area of supply. Can see £10 here at some point though. Take a look at BGO also, same sector and share price also performing well.
Velocity share price data is direct from the London Stock Exchange
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