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Share Name Share Symbol Market Type Share ISIN Share Description
Volex Plc LSE:VLX London Ordinary Share GB0009390070 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -9.50 -2.48% 373.00 374.00 376.00 389.00 363.00 389.00 843,574 16:35:24
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 315.4 12.8 8.0 52.5 568

Volex Share Discussion Threads

Showing 7251 to 7274 of 7550 messages
Chat Pages: 302  301  300  299  298  297  296  295  294  293  292  291  Older
DateSubjectAuthorDiscuss
19/2/2021
13:32
Oxman - who are analysts considering to be Volex's peers? And which of those do Volex find themselves in competition with when tendering?
grabster
19/2/2021
13:28
Sidney Newboy - agreed, in the medium term. Though 3-4 years from now we should see copper starting to be replaced with graphene in several areas, which will affect copper prices in the longer term. (And the manner in which graphene is likely to be used makes it less appealing to thieves, as its recycling will be more complex).
grabster
19/2/2021
13:16
Contracts will link in and will probably have a tight lag effect.
deanowls
19/2/2021
12:26
Suspect they hedge the prices for say a year but yes going forward it must have an impact.
pcok
19/2/2021
10:45
Encouraging update from Downing Strategic micro cap fund. Investor letter dated 19th Feb. Also posted on other thread I see. Continues to beat expectations. We see further upside potential through bolt ons.VOLEX remains the largest equity position in DSM. 2020 really was an inflection year for the business and it enjoyed significant multiple expansion. In our most recent investor marketing calls we have been asked about the investment case for Volex given the share price increase and whether we can justifiably continue to hold.We think there is still a significant runway for the Volex share price. At the time of writing, the shares are still trading on around a 20% discount to sector peers. We think is unwarranted due to the quality and growth characteristics which we set out in the February 2020 letter – higher growth; better cash conversion; higher margins and higher returns on capital than most of its peers. In the last letter we set out a pathway to $65 million of operating profit by FY2024, and we now think that this could be achieved earlier. Consider operating profit of $20.9 million in the most recent financial half year. Also consider Volex's exposure to electric vehicles (EV) and the growing run?rate here, along with other structurally growing areas such as data centres, and the positive read across from other Volex peers and/ or target sectors, particularly in consumer electronics. Combined with Volex's most recent acquisition, DEKA, which should generate at least a full year EBITDA contribution of €8.9 million and where we think there is upside risk here too given management's comments around further capacity investment in the business. Over a longer period we think DEKA could be a $10 million operating profit business, with strong growth drivers given its market leading position as the most cost competitive operator in the power cord market. This latter point we find compelling for the wider Volex group, with the opportunity to transfer this knowledge into Volex's Asian business, which would allow more competitive tendering in markets which Volex doesn't currently serve.These earnings tailwinds may be tempered by some increasing FX headwinds and copper price inflation, DEKA also hasn't completed in January as expected, but this is a timing issue rather than anything fundamental. Longer term there remains a significant growth runway for the business, both organically through structurally growing areas such as EV, data centres, and medical. But also, through acquisitions. We think that $65 million of operating profit can translate down to around $50 million of normalised free cash flow, or $40 million after dividends. Assuming acquisitions going forwards are more expensive at 8x operating profit, there is a pathway for Volex to double its $65 million operating profit target over the next 10 years, drawing down on the new $100 million facility could accelerate this realisation. Well executed roll?up stories with top quartile fundamentals and ample opportunity for capital deployment can trade at up to double Volex's rating, so the potential here is still high and unrealised, in our opinion
its the oxman
19/2/2021
09:18
Nice coverage from Downing microcap today....(sorry about the format, I've no idea how tomake it right). VOLEX remains the largest equity position in DSM. 2020 really was an inflection year for the business and it enjoyed significant multiple expansion. In our most recent investor marketing calls we have been asked about the investment case for Volex given the share price increase and whether we can justifiably continue to hold. We think there is still a significant runway for the Volex share price. At the time of writing, the shares are still trading on around a 20% discount to sector peers. We think is unwarranted due to the quality and growth characteristics which we set out in the February 2020 letter – higher growth; better cash conversion; higher margins and higher returns on capital than most of its peers. In the last letter we set out a pathway to $65 million of operating profit by FY2024, and we now think that this could be achieved earlier. Consider operating profit of $20.9 million in the most recent financial half year. Also consider Volex’s exposure to electric vehicles (EV) and the growing run‐rate here, along with other structurally growing areas such as data centres, and the positive read across from other Volex peers and/ or target sectors, particularly in consumer electronics. Combined with Volex’s most recent acquisition, DEKA, which should generate at least a full year EBITDA contribution of €8.9 million and where we think there is upside risk here too given management’s comments around further capacity investment in the business. Over a longer period we think DEKA could be a $10 million operating profit business, with strong growth drivers given its market leading position as the most cost competitive operator in the power cord market. This latter point we find compelling for the wider Volex group, with the opportunity to transfer this knowledge into Volex’s Asian business, which would allow more competitive tendering in markets which Volex doesn’t currently serve. These earnings tailwinds may be tempered by some increasing FX headwinds and copper price inflation, DEKA also hasn’t completed in January as expected, but this is a timing issue rather than anything fundamental. Longer term there remains a significant growth runway for the business, both organically through structurally growing areas such as EV, data centres, and medical. But also, through acquisitions. We think that $65 million of operating profit can translate down to around $50 million of normalised free cash flow, or $40 million after dividends. Assuming acquisitions going forwards are more expensive at 8x operating profit, there is a pathway for Volex to double its $65 million operating profit target over the next 10 years, drawing down on the new $100 million facility could accelerate this realisation. Well executed roll‐up stories with top quartile fundamentals and ample opportunity for capital deployment can trade at up to double Volex’s rating, so the potential here is still high and unrealised, in our opinion.
miti 1000
19/2/2021
09:09
Yes grabster - white goods for the European market. That copper price increase must be a concern though - up 30% since September. When you look at a typical power cord for a kitchen appliance I reckon half of the cost must be copper.
sidney newboy
19/2/2021
08:42
DEKA corporate video: hTTps://www.de-ka.com/#images Some customer names: hTTps://www.de-ka.com/referanslar
grabster
19/2/2021
08:36
DEKA corporate video: hTTps://www.de-ka.com/#images Some customer names: hTTps://www.de-ka.com/referanslar
grabster
18/2/2021
11:50
Nice additional comment from Nat on the Deka acquisition on LinkedIn: "Terrific outcome for all stakeholders - DEKA is brilliantly run, excellent customers and will fit into our model seemlessly. Highly accretive to Volex from day 1."
strollingmolby
18/2/2021
10:42
Also added again, today, just seems that the growth story here has so much further to go re electric vehicle uptake over the next 10 years. Hoping to see this nicely over 400p this year.
its the oxman
18/2/2021
08:40
Having just bought a couple of new Siemens appliances for my house, I see that DEKA is the manufacturer of the powercord for both the oven and hob. Nice thing about buying a build to print manufacturing business is that there should be a strong balance sheet to support these big customers and acquisition goodwill will be minimal.
sidney newboy
17/2/2021
15:04
Added here on the back of this confirmation, now my largest holding.
wanttowin
17/2/2021
14:18
Crack open the Musar
chateaumusar
17/2/2021
14:17
NS Number : 4670P Volex PLC 17 February 2021 17 February 2021 Volex plc ("Volex" or the "Company") Completion of DE-KA Acquisition Volex plc (AIM:VLX), the global supplier of integrated manufacturing services and power products, confirms that, further to the announcement of the proposed acquisition of De-Ka Elektroteknik Sanayi ve Ticaret Anonim irketi ("DE-KA") made on 12 November 2020 (the "Acquisition"), the Acquisition has been fully approved by the Turkish Competition Authority and 3,320,000 Ordinary Shares of 25 pence each in Volex (the "Consideration Shares") have been conditionally allotted to the sellers to satisfy the share element of the consideration payable pursuant to the Acquisition. Completion of the Acquisition ("Completion") shall take place automatically immediately following admission of the Consideration Shares to trading on AIM, which is expected to take place on or around 8.00am on 18 February 2021. The cash consideration payable in respect of the Acquisition comprises an initial cash consideration of EUR37.0 million, a deferred cash consideration of EUR2.0 million payable in January 2022 and a deferred contingent cash consideration of up to EUR13.0 million, which may be payable within two years of Completion based on certain profit targets of DE-KA being met. An additional EUR9.8 million is to be satisfied by the issue of the Consideration Shares to the sellers on Completion. The value of the Consideration Shares is based on Volex's share price of GBP2.63 on the date that the sale and purchase agreement was signed. The Consideration Shares are subject to a six-month lock-up. In addition, Volex is pleased to confirm that Servatron, Inc ("Servatron") has achieved certain operating profit targets for the year ended 31 December 2020 set under the acquisition agreement entered into on 30 July 2019. The second tranche of deferred consideration shares are now due to the former owners, and current employees, of Servatron, comprising 1,481,239 Ordinary Shares of 25 pence each in Volex (the "Servatron Deferred Consideration Shares"). The Volex Board has therefore approved the issue of the Servatron Deferred Consideration Shares. Application has been made to the London Stock Exchange for the admission of the 3,320,000 Consideration Shares in respect of DE-KA and 1,481,239 Servatron Deferred Consideration Shares in respect of Servatron to trading on AIM ("Admission"). Admission of the Consideration Shares and Servatron Deferred Consideration Shares is expected to take place on or around 8.00am on 18 February 2021. The Company's total issued share capital following Admission will consist of 157,052,041 ordinary shares of 25 pence each with one voting right per share. The Company holds no ordinary shares in treasury. Therefore, following Admission, this figure of 157,052,041 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company. Nat Rothschild, Executive Chairman of Volex, commented: "DE-KA is a world-class business, and one of the two leading power cord producers in Europe. This, combined with its strong management team and impressive customer list, means it is a perfect fit with our existing business and accelerates our strategy of creating the most efficient and lowest cost global producer in the industry, providing an immediate and scalable European platform. I am delighted for our shareholders that we are completing the acquisition and look forward to working alongside the DE-KA team on the next exciting stage of Volex's development."
bigbigdave
16/2/2021
21:50
Hopefully volex can get a few per cent of the market for car charger cables. I think volex makes the plug for the charger lead say £10 per car so if they can get a few % market share Globally looking at revenue of about 20 to 30 million from Ev - got to be worth 10p on the share price?
smarties123
16/2/2021
10:36
Or maybe Nat the CEO would like Jaguar to be a customer. I am sure I would.
shanklin
16/2/2021
10:24
"Fantastic to see JLR embracing an all-electric future by pledging to become a fully electric car manufacturer within 4 years – a significant statement of intent by the UK's largest automotive manufacturer. #VLX" just tweeted by Nat the CEO - maybe Jaguar is a customer????
arieljcohen
16/2/2021
10:21
Just waiting on that DEKA acquisition to be confirmed - then it should smash through the 355 level (or a trading update or any other positive catalyst). Anyone know the reason for the DEKA delay? Should have happened in Jan
arieljcohen
16/2/2021
10:11
Tempted to buy more, when this 350p level finally breaks suspect we could move sharply higher.
its the oxman
15/2/2021
18:35
No I don't but if Jaguar are going all electric all the other manufactures won't be far behind.
sooty snipes
15/2/2021
18:00
Do we know if Jaguar is a client of Volex?
arieljcohen
15/2/2021
17:34
In the meantime Jaguar announced today that their entire range will be all electric by 2030
sooty snipes
15/2/2021
15:21
Agree with Shanklin. Re the DEKA acquisition they said they expected to complete in January 2021. Delay possibly nothing major but new CFO is certainly less experienced in acquisitions than the previous one - could this be holding them up? Hopefully an announcement on completion soon
salmonf1shcake
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