Vertu Motors Share Discussion Threads

[gutterhead] 22/2/2021 20:08

None in London

[gfrae] 22/2/2021 19:19

The above is likely to make a lot of people change their cars in London, does Vertu have a lot of dealers in London ?

[gipps] 10/2/2021 16:39

Selling i would say in blocks of 20000

[viking24] 10/2/2021 13:41

Recent shareholder buying more?

[gipps] 09/2/2021 17:13

Big sell number today ?

[jabers1] 09/2/2021 11:13

Vertu now have a bigger market cap than Lookers, they could well have a go at Lookers at these levels, bigger company with better Franchise portfolio at a huge discount??

[chrisb1103] 08/2/2021 12:34

Nice move up - had to happen - still cheap as! :)

[daneswooddynamo] 08/2/2021 12:00

Moving nicely now, the dealers look well primed for some pent up revenge buying post March

[techno20] 04/2/2021 12:57

Muted response to a great update. Two analysts reports issued today. Target prices 60p and 65p!!

[mortimer7] 04/2/2021 09:51

This morning the SMMT has published the numbers for UK new car registrations for January.
Total registrations were 90,249, a reduction of 39.5% on January 2020 total of 149,279.
Today SMMT have issued their revised forecast for the full year registrations which is 1,887,000 which would represent a 15.7% increase on 2020 total.

[mortimer7] 04/2/2021 09:45

Very good performance as per todays update:
"Board now expect that the trading result for the year ending 28 February 2021, at an adjusted profit before tax level, will exceed the current Analysts' forecasts of around £18m".

[chrisb1103] 04/2/2021 07:39

Group's trading performance ahead of prior year and Analysts' forecastsGreat update! :)

[1nf3rn0] 04/2/2021 07:32

Good trading update. Pre-tax profit for year ending 28th Feb expected to be above analyst expectations of £18m.

[mortimer7] 06/1/2021 09:18

This morning the SMMT has published the numbers for UK new car registrations for December. Total registrations were 132,682, a reduction of 10.9% on Dec '19 total of 148,997.
Total figure for 2020 is 1,631,064 vs 2,311,140 last year.

SMMT revised their 2020 forecast in July this year to 1,603,000, so H2 has turned out just slightly better than expected.

SMMT Commentary "with the rollout of vaccines and clarity over our new relationship with the EU, we must make 2021 a year of recovery. With manufacturers bringing record numbers of electrified vehicles to market over the coming months, we will work with government to encourage drivers to make the switch, while promoting investment in our globally-renowned manufacturing base – recharging the market, industry and economy".

[viking24] 18/12/2020 17:16

Like to see the buy prints

[gipps] 16/12/2020 19:02

Massive volume today any thoughts ?

[sphere25] 16/12/2020 14:16

Some big chunks just gone through here, two lots of 6.8m which makes the volume the largest since 2015.

Interesting exchanges ahead of a key period. Alot of yeah but no but yeah but no going on with a "narrow path in view" for a trade deal. Not just any old conventional path, a narrow one....a narrow one which also appears to be in view.

All nice and clear then.

[essentialinvestor] 09/12/2020 19:09

Thanks, unsurprising.

Big few days in prospect with EU talks concluding.

[viking24] 09/12/2020 16:22

Numis buy note on the sector, Vertu top pick

[davebowler] 07/12/2020 17:20

Zeus;
Vertu has announced an acquisition that gives it a significant BMW and Mini presence in Yorkshire and the North East. We see this as an asset rich transaction with minimal goodwill, albeit it will take time to turn this business around financially. That said, we believe this transaction comes at an exciting time, given the brands strong pipeline of electric vehicles, and this also shows Vertu investing for the long term as a key industry consolidator.

§ Acquisition: Vertu has acquired a significant BMW and Mini market area in Yorkshire and the North East from Inchcape. This consists of 12 sales outlets, in five locations namely York, Sunderland, Teesside, Durham and Malton. In addition, there is a BMW Motorrad motorcycle operation in Sunderland and an additional used car operation in York.

§ Financing: The total consideration amounts to £18.7m (subject to a completion accounts finalisation) together with the assumption of manufacturer used vehicle stocking finance of £8.9m. The assets acquired in respect of freehold/long leasehold properties amount to £16m The acquisition has been funded with a combination of cash and a £12.8m 20-year mortgage facility from BMW Financial Services at a fixed interest rate of 2.9% for the first 5 years, another sign of strong OEM support for this transaction. The acquisition includes a payment in respect of goodwill of £0.75m, which highlights the value of this asset rich transaction and appears to be substantially less than transactions undertaken in recent years.

§ Impact on forecasts: Due to the timing of the purchase and the historic trading performance of the sites acquired, we anticipate this transaction will reduce 2021E adjusted PBT by £3.0m and will also be earnings dilutive in 2022E, generating a positive impact on profit in 2023E. We ultimately believe the business acquired is capable of delivering annual EBITDA of £5.8m and even on a conservative EV of £35m assuming additional stock investment, equates to 6x.

§ Trading update: The Group’s strong trading momentum continued into November. While this is good news, we believe it remains sensible to exercise some caution for the remaining quarter of FY21 given the clear uncertainties still ahead (Brexit, COVID cases rising post relaxation of rules, rising unemployment etc). Indeed, it is worth noting that new car registrations were -27% during November according to the SMMT, albeit this showed a considerable improvement vs. April and May showing how well the industry has adapted to national lockdowns. We believe the impact of stronger trading offsets the anticipated dilution from this transaction.

§ Investment view: We believe the long-term valuation of Vertu is compelling and have not modelled in the full potential of this transaction into our long-term forecasts. We see a conservative average valuation of 65p per share, which implies significant upside from the current share price.

[essentialinvestor] 07/12/2020 12:24

Trading continues in line and at last the long talked about acquisition.

[gipps] 06/12/2020 11:31

Has it been announced how much they paid ?