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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 Shares Traded Last Trade
  -4.00 -1.27% 310.00 418,781 16:29:54
Bid Price Offer Price High Price Low Price Open Price
308.00 310.00 317.00 305.00 310.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 315.37 12.78 7.98 43.3 472
Last Trade Time Trade Type Trade Size Trade Price Currency
18:45:03 O 67 310.016 GBX

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Date Time Title Posts
05/3/202116:36VOLEX - really a rolex for the 2020s.58
26/2/202107:53Volex 2013 : Plug in for recovery ?4,008
05/10/201715:34It's flying!2
18/7/201408:59VOLEX - double your money and take it away1,297
14/11/201310:36Volex : plugged for continuing improvement in 2011 ?791

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DateSubject
07/3/2021
08:20
Volex Daily Update: Volex Plc is listed in the Electronic & Electrical Equipment sector of the London Stock Exchange with ticker VLX. The last closing price for Volex was 314p.
Volex Plc has a 4 week average price of 279p and a 12 week average price of 275p.
The 1 year high share price is 356p while the 1 year low share price is currently 80p.
There are currently 152,250,802 shares in issue and the average daily traded volume is 619,893 shares. The market capitalisation of Volex Plc is £471,977,486.20.
19/2/2021
10:45
its the oxman: 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
17/2/2021
14:17
bigbigdave: 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."
16/2/2021
21:50
smarties123: 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?
12/2/2021
15:29
sooty snipes: "Ever since the CFO departure we seem to be taking off" When Daren Morris left on the 12th of November the share price was 260p. The recovery had been well under way long before the change in CFO. I've held this share from 52p in June 2017. Daren Morris and Nat Rothschild had done a superb job of turning this company around. I like the story. Until anything changes I intend to hold for a lot longer. Good luck all.
10/2/2021
10:11
grabster: Love the way the share price is battering that ceiling.
10/2/2021
08:51
someuwin: Small Company Sharewatch @SCSWSharewatch ·34m #VLX keeping a close eye on this, share price 'simmering' at all time highs. Recently new broker Stifel appointed. 3 key 'props' to its 410p target : Data centre revenues + 57% y/y in 1H21 ; EV revenues surged 78% and of course 3 deals being worked on https://scsw.co.uk/searchresults.php?textfield=vlx&ftype=
19/1/2021
15:53
owenski: Yep, 20k at these levels, and is double the usual 10k share price prop of a dog company... I'd take that as a positive.
19/1/2021
09:19
owenski: Shares get tipped. Market Maker's mark them up. Numpty's - who can't work anything out for themselves, and thus lack any conviction - arrive. A week later the share price hasn't doubled. Numpty's get bored and sell. Share price moves down on lower volumes. Proper investors still remain.
16/10/2020
10:18
mfhmfh: half year profit was £20m. VLX should achieve full year profit of £40m (probably more). half year revenue was £200m, so £400m of full year revenue is a fair estimate (probably more). current market cap is £344m which is below current full year revenue. if VLX is valued at 10x profits then share price would be 263p - this is based on full year revenues of £40m but I wouldn't be surprised if revenue/profits accelerate in the 2nd half. if VLX is valued at 15x profits as it's a growing company then share price would be 394p. All IMHO.
26/8/2020
15:55
nallen1: StockopediaDirector Buys – an interesting cluster of decent-sized Director buying has reinforced my bullishness on this share. I was late to the party with this share, but started buying recently, and am pondering whether to buy more when funds permit.It's a very convincing turnaround, which I've covered extensively in the archive here.There's a terrific results presentation here on InvestorMeetCompany, which clinched it for me, and made me want to buy the shares, after having done my own research. In a nutshell, the new strategy is to focus on high margin, more complex electrical assemblies. This has raised the operating margin to about 8%, with a target of 10%. Bolt on acquisitions (often from owners who want to retire) is expanding the group, hence it is targeting $650m revenues in 5-years' time. Put that on a 10% margin, and we get $65m p.a. profit. Take off tax, that's now say $52m, convert into sterling, is almost £40m p.a. earnings. Put that on a PER of 15-20, and I get to a valuation of £600-800m. The current valuation is £260m. (at 176p per share). Hence good potential upside over 5 years, and growing divis whilst I wait.The balance sheet is stuffed full of cash, so I don't think it will need to dilute through placings, and management own a ton of shares, so won't want dilution. What's not to like?! Plus it's got good organic growth potential from electric vehicles, which are likely to boom in the next decade, and data centres. Management really impressed me on the IMC video presentation.The more I think about this share, the more I like it, as a 5-year buy & hold. As always, this is just my personal opinion, which is sometimes wrong, so you must do your own research, and take ownership of your own trades/portfolio.I'd be particularly interested in any informed negative views on VLX, as it's arguably more important to hear the bear case, than seeking confirmation bias from people who agree with me!.Volex Director transactions announced recently have been;26 Aug 2020 – 500,000 shares bought at 165p by company connected to Exec Chairman, Nat Rothschild. His total holding now 37.97m shares, 24.9% of the company.19 Aug 2020 – 47,302 shares bought at 160p by CFO, Daren Morris. His total holding is now 1,070,000 shares, 0.7% of the company – quite a chunky holding for a CFO. Meaningful sized purchases in the market by a CFO are generally perceived as being a positive indicator.7 Aug 2020 – 50,000 shares bought at 145p by wife of COO, Sharon/John Molloy. Their total holding is now 1,311,589 shares, 0.86% of the company – again, a meaningful sized stake.5 Aug 2020 – 98,561 shares bought at 137p per share by wife of COO, Sharon/John Molloy.6 July 2020 – 139,210 shares SOLD at 148.2p by CFO Daren Morris. This is curious! I wonder why he sold these shares, then bought some of them back at a higher price just weeks later (see above)?26 June 2020 – issue of 432,040 new shares, re deferred management bonuses. Not stated, but I assume these have been issued for nil consideration as they're bonuses, to: Nat Rochschild 155,201 shares, Daren Morris (CFO) 155,201 shares, and John Molloy (COO) 121,638 shares.23 June 2020 – 67,171 shares bought at 151.4p per share by Nat Rothschild (Exec Chmn)22 June 2020 – NED buys 10,000 shares at 156p per shareThe only oddity in the above list (which I stopped at an arbitrary point working backwards), is the CFO selling his bonus shares on 6 July, but then buying some back shortly afterwards. I wonder what the reasons behind that were?
Volex share price data is direct from the London Stock Exchange
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