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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Vertu Motors Plc | VTU | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.70 | 1.32% | 53.60 | 16:35:25 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 51.80 | 51.80 | 53.80 | 53.60 | 52.90 |
| Industry Sector |
|---|
| GENERAL RETAILERS |
| Top Posts |
|---|
Posted at 11/2/2025 08:27 by jonandjane1 Vertu got to be on the shopping list....https://www.mo |
Posted at 29/10/2024 09:58 by my retirement fund Motorpoint investors are beginning to wake up to it today Funny how these things take so long to filter through.Conformation bias means when the status quo changes, no one truly believes it till it hits them in the face.Like a rabbit caught in headlights. |
Posted at 24/10/2024 15:46 by davebowler Investors Chronicle last week.......Although the new car market continues to be hampered by issues that stretch beyond standard market dynamics, the group’s focus on after-sales, used cars and new electric vehicles has supported revenue streams, while investments in the digitalisation across the group has fed through to tangible benefits. There are potential cost savings in the offing as all UK retail outlets will trade under the Vertu brand by the end of April 2025. And it could be argued that the estate has become more productive anyway, in the sense that acquired dealerships contributed revenue growth of £45.1mn, even though the closure of some showrooms reduced revenues by £24.8mn. Stifel expects adjusted earnings per share (EPS) of 7.8p a share, rising to 8.9p in FY2026. Vertu expects profitability to improve over prior year levels in the second half due to a stronger used car market and improving used vehicle trade prices. It is difficult to say whether governments will respond to the concerns expressed by Oliver Zipse and other industry luminaries, but Vertu continues to outstrip its rivals. The forward rating of 7.5 times forecast earnings is not extravagant given an implied dividend yield of 4.2 per cent. |
Posted at 26/3/2024 08:49 by davebowler Progressive Equity Research-Vertu is the fourth largest automotive retailer in the UK, with 188 sales outlets and a track record of cross-cycle growth, principally through businesses it has acquired, funded by equity, debt and most importantly cash generation. Vertu operates across the entire vehicle lifecycle, including new and used vehicle sales, and vehicle servicing, repair and parts. Service and repair is a 40+% gross margin repeating business. With economic headwinds, the transition to electric vehicles, recent overseas investment in the UK market and noise about new business models, the next few years should be interesting. Vertu is well placed to be a winner on several fronts. ▪ Well-placed buyer and seller. Recent takeover activity has highlighted the value in the sector and, for a major international buyer, we believe that Vertu could be an attractive target. More importantly, with a strong balance sheet and proven, well-regarded management team, Vertu can continue to grow value through acquisitions of its own. We estimate that Vertu has firepower of £70m based on current net debt guidance. ▪ New and used markets stabilised. While the pandemic and its fallout led to several turbulent years, the industry has now moved into a more normal supply push driven new vehicle market, where dealers are still fundamental to the success of manufacturers. ▪ Electric vehicles (EVs). The transition to EVs will lead to adjustments across the retail market, but there is no evidence the distribution model will change from being dealership based. Volatility and changes in the market are likely to be best handled, and exploited, by the larger retailers such as Vertu that are focused on margins, returns and customer service. ▪ Clearer picture on the business model and value. Vertu is now the only motor retailer of scale listed on the LSE, following the recent takeovers of Lookers, Pendragon and Marshalls. In our view, this allows investors to focus on what Vertu is, rather than what it isn’t. As this note describes, selling cars isn’t even where Vertu makes the highest margins – aftersales service is, and that is a repeating income stream. ▪ Valuation and forecasts. The shares trade on undemanding multiples, in our view, and forecast FY24 net tangible asset value per share of 70.4p could provide significant support or even upside. We note that our forecasts do not incorporate assumptions of significant acquisitions or major capex on new dealership sites, both of which could add significantly to earnings. |
Posted at 29/1/2024 16:38 by c_k Rumours are circulating Inchcape are sounding out buyers for their UK car dealerships. Vertu are not the only option for an investor. https://news.sky.com |
Posted at 26/1/2024 15:48 by grahamburn Surprisingly negative "Avoid" recommendation in Tempus column in Times today:A few key paragraphs: Until recently, business was booming. Used cars selling for crazy money and a string of acquisitions led revenues to rocket. That, and speculation that Vertu could get taken over, like its peers, encouraged investors to jump on board and the shares to rally. Now the tables have turned. Supply shortages have gone away and the ugly side of car dealership companies is becoming apparent again. The challenges are numerous. Prices are tumbling as the market is flooded with vehicles and the economic environment and general uncertainty make consumers hesitant or unable to buy them. And operating costs are rising, partly because of an increase in wages. ................... Vertu’s valuation dipped since the profit warning but arguably not enough to reflect all the challenges faced. In a period of deep uncertainty, the shares trade at just under eight times forecast earnings, which is close to the top of their historic range. Perhaps the prospect of getting taken over is propping up the shares. The next wave of bad news could convince investors to put those thoughts aside and trigger a much more severe reaction. |
Posted at 07/12/2023 07:50 by sunshine today Those buying dealerships have been caught on the hop, (they like investors here,) noted how well the market held up over the last two plus years, and thought it was game on.All corporate action will grind to holt, as it becomes clear CHEAP , was at the end of the day, very expensive. |
Posted at 09/11/2023 10:24 by davebowler Liberum-Our Strategist Joachim Klement wrote a brief comment on the current valuations of private assets vs listed assets, highlighting just how cheap UK and European markets are in particular compared to valuations within PE funds, which has driven PE to search more actively for opportunities in the listed space. Of course, plenty of debate over which of these valuation points is most accurate but thought this was an interesting snapshot. Although not investment company specific, it does resonate given the recent buy-outs of trusts/REITs by private vehicles, who can then mark up these assets in their own portfolios. The last sentence certainly stood out to me. Kind regards, Tom Investors are increasingly moving their asset allocation toward private assets (be that private equity or private debt) at the expense of listed markets. The result is that valuations of listed markets become cheaper and cheaper, and liquidity dries up while the return prospects for private investments decline as too much money chases a limited opportunity set. The figure shows that the median EV/Sales-ratio of private equity fund holdings is now 3.1x, about 26% higher than the EV/Sales of the S&P 500 which isn’t cheap to begin with. Compare it to European and UK equity markets and investors in private equity funds buy investments at an 85% and 144% premium to listed markets in Europe and the UK, respectively. But this is the median valuation of private equity multiples. Top quartile valuations start at a 7.0x EV/Sales and top decile valuations at 16.2x! Making a decent return on such starting valuations seems extremely difficult, to say the least. No wonder then that private equity funds look for opportunities in listed markets. After all, these listed businesses are more attractively valued than private markets. The net result of all this is that investors sell listed investments to hand money to private equity funds, which then recycle that money in listed investments again, of course only after taking a hefty fee for their services. |
Posted at 05/10/2023 08:53 by daneswooddynamo The dollar strength has clearly helped the assault on the sector from the big U.S. groups but what you have to remember is that they are paying these prices for these companies thinking that they are going to make a very good ongoing return. Just shows how useless uk investors have been in valuing them. Lookers had ended up being taken over at a relatively small premium to nav, making 70- 80 million a year and being valued at 500m ( after they were happy to let it go for 450 million ) . Hopefully with vtu being the last quoted dealer group of size and probably the best managed they will extract a top price if the bidders come knocking |
Posted at 04/10/2023 07:07 by daneswooddynamo How on earth could funds have been used differently to make the company more attractive to a suitor? They are now a near 200 strong dealer group and the large overseas investors are falling over themselves to buy up scale and into the sector |
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