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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
  +0.00p +0.00% 92.00p 11,488 16:28:00
Bid Price Offer Price High Price Low Price Open Price
89.00p 95.00p 92.00p 92.00p 92.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 230.02 4.99 3.14 26.8 132.4

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Date Time Title Posts
02/5/201921:44Volex 2013 : Plug in for recovery ?2,949
05/10/201716:34It's flying!2
18/7/201409:59VOLEX - double your money and take it away1,297
14/11/201310:36Volex : plugged for continuing improvement in 2011 ?791
17/2/201101:08VOLEX in 2010 : electronics recovery opportunity928

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DateSubject
19/5/2019
09:20
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 92p.
Volex Plc has a 4 week average price of 89p and a 12 week average price of 78p.
The 1 year high share price is 97p while the 1 year low share price is currently 69.80p.
There are currently 143,948,557 shares in issue and the average daily traded volume is 58,794 shares. The market capitalisation of Volex Plc is £132,432,672.44.
13/4/2019
12:05
glasshalfull: Hi folks, Tweeted the undernoted this morning HTTPS://twitter.com/glasshalfull1/status/1117019449519943681?s=12 - Doesn’t format as well in the post below VLX (Volex PLC) Been banging the drum🥁 on this one recently following 4 UPGRADES in FY19 😁 I spoke with Daren Morris, CFO last week & came away super impressed at the turnaround & investment proposition which is sumarised below, with main POSITIVES & NEGATIVES in my opinion👇 7995; VLX (VOLEX PLC) * Share Price 91p * M/Cap £134m * Enterprise Value £115m (Using H1 net cash of $24.9m or £19m) * Shares in Issue 147.4m * Stock Rank 94 ✅ FY19e (31-Mar-19) * Revenues $369m * Adj PBT $21m * Net Cash $24.9m at 30.09.18 (end H1 2019). March 2019 trading update indicated cash only fallen marginally in H2 to $18.4m (-$6.5m) despite VLX paying $16.5m acquiring GTK in Dec 18 - therefore $10m net fee cashflow in H2 FY19 * EPS 12.5c or 9.6p * Estimate PER 9.5 for FY19 & PER 8.1 for FY20 * EBIT Margin 5.7% * EV/ EBITDA x4.7 * Dividend Yield 2.2% (reinstated dividend, based on 2c) Positives * 4x earnings upgrades in FY19 through trading “ahead” statements & a bolt-on acquisition & only on prospective PER of 9.5 for FY19 & PER 8 for FY20 :- Date FY19e FY20e News 18.06.18 10.0c 10.8c Liberum forecasts 31.07.18 10.7c (+7%) 11.7c (+8%) AGM “ahead” RNS 09.11.18 11.1c (+4%) 13.6c (+16%) H1 results 12.12.18 11.5c (+4%) 14.3c (+5%) GTK acquisition 28.03.19 12.5c (+9%) 14.7c (+3%) FY19 “ahead” RNS Overall +25% earnings upgrade in FY19 & +36% upgrade in FY20 * Strong PBT growth of +90% in FY2019 & estimated growth of +40% in FY2020. * Highly Cash Generative with growing net cash balance. Forecast to deliver a strong FCF Yield of 5.5% in FY2019 which will rise by +89% in FY2020 for a FCF of 10.4%. Volex is throwing off cash which is expected to increase by +$15m in FY2020 & +$20m in FY2021. * Rising Margins from 5.2% FY18 to 7.1% FY21. * Dividend reinstated and forecast at 2.1% yield FY19 & 3% yield in FY20. * Cable Assembly business (46% of Volex) is higher margin & growing strongly due to the requirement for high-speed date transmission cables (Data centres) & growth in cabling for healthcare & robotics. EBIT margins are forecast to rise from 7% in FY19 to 9.5% in FY2020. * Likelihood of further earnings accretive acquisitions. 3x bolt-on acquisitions in FY19 have not only resulted in earnings upgrades but offer opportunities for the company to benefit from procurement savings; acquire new customers; cross sell products; enter new markets & new geographies and help focus them on becoming a “one stop shop” to customers. * New Customer wins include Amazon, TESLA, Johnson Controls, BOSE, WIK (German) and somfy (French) as the company continues to develop innovative products & move into new sectors. Negatives * Power Cord Division (54% revenues) has experienced lower revenues in recent years as it’s largest customer in this division, Apple, continues to decline per forecasts. Despite this reduction, the growth in ELECTRIC VEHICLES is mitigating this reduction via a ramp up in power cords. Discounting Apple, organic revenues grew in Power Cords by +10% in H1 FY19. Op margins are forecast to remain stable at c.8% through to FY21, with profitability also stable. Worth noting the Cable Assembly side of the business is forecast to overtake this division next year in terms of turnover, profitability & op margins. * Strong Competition, as noted, “competition is intense though management has taken the decision to focus on customers who value a premium product/service and value factors other than price. In addition, Volex has started to expand into new sectors and engage in M&A activity where it can take greater market share.” * US v China Trade war fears with US imposing 10% tariffs on VLX’s goods made in China & destined for the US. HOWEVER, as their brokers have noted, “Volex’s global footprint allows for a large degree of flexibility and the reduction in activity at the Shenzhen facility due to the decline at Power Cord’s largest customer [Apple] means that Volex has effectively reduced capacity in China at an opportune time. Customers are currently war-gaming different trade war scenarios, and although ultimately any Duty is incurred by the customer, there is an opportunity for Volex to gain share if customers are able to rely on its global footprint and flexibility, especially against the domestic Chinese manufacturers.” * Customer concentration. The top 3 customers account for 30% of sales ALTHOUGH this is down from 50%. The company have worked hard to expand their customer base through selective acquisition, winning new contracts & expanding into new High-Speed & Interconnect markets which offset the decline & previous concentration in Apple (see Power Cord Division comment above) * Copper prices account for 40% of costs in POWER CORDS market. Worth noting that the spot price has remained fairly stable & still below 3.00 S/lb it stood at a year ago. On 11.04.19 = 2.89 $/lb. Important to note that ALL sales contracts which involve copper have clauses allowing for quarterly adjustments. Kind regards, GHF
05/3/2019
12:06
1fox1: There is no reason for the drop. There were nice chunky buys yesterday too. You'll see I'm right. I notice the share price is already bouncing back nicely.
04/3/2019
21:22
krobertson878: No the best last few days for the share price, I hold and have every faith.
04/3/2019
17:43
davr0s: I hold but certainly wouldn't add to a falling share price - been a bit of volume behind the drop which you have to take note of. It's a reasonable distance from my stop still so letting it play out but wouldn't be shocked by some sort of news in the coming days
03/9/2018
12:29
robow: Telegraph Questor - 2 shares for Inheritance Tax portfolio od AIM shares Volex Volex makes power cords and cable assemblies for use in electronics and electrical devices. The business goes back 120 years and this perhaps accounts for some of its past problems: it operated in commodity-type markets at a time when low-cost competition from automated Chinese rivals put profit margins under pressure. Management and strategic changes were tried but all “failed to capitalise on the firm’s competitive strengths”, said Nick Hawthorn of Downing, whose firm holds Volex in its IHT portfolio. “Investors lost heart and its market value fell significantly,”; he added. New managers are now in place. “Where previous teams invested in chasing low-quality revenue and earnings growth, the new one focuses on operational and supply chain excellence and profitable growth,” Hawthorn said. Volex now plays to its strengths in areas such as cable assemblies for use in data centres and healthcare, where the work is labour intensive and quality is critical. “It is focusing on the opportunities against which Chinese automation can compete least effectively,” the fund manager added. He also pointed to the alignment of interests between the new managers and investors: the former own more than 25pc of the equity – shares they have paid for, not acquired via options. Hawthorn said Volex had market-leading attributes in global sourcing and production, significant investment in capital assets, a skilled and global workforce, blue-chip customers and a long-standing reputation for quality. “We believe these qualities create an economic ‘moat’ and a position of strength in the highly fragmented industry in which it operates,” he said. The shares trade at about 10 times forecast earnings – low for a stock whose organic growth is expected to be about 10pc a year. “We think Volex has now turned a corner, posting its first statutory profit since 2012,” Hawthorn said. “The turnaround has been well executed and there are great opportunities to profitably grow the business. This has yet to be reflected in the share price. We think Volex is one of the most attractive opportunities at the smaller end of the Aim market.” Questor says: buy Ticker: VLX Share price at close: 82.6p
16/5/2018
09:03
puffintickler: Placings without an offer to existing shareholders are always bad news with only one exception. If the placing price is close to or above the share price it is positive news. There is no point in offering shares to existing shareholders if the gain for them is small, the extra cost is just not worthwhile. So, I am more than happy with the placing which will underpin the current 75p recovered price. Let's hope the acquisition is a good one.
02/12/2017
17:01
imastu pidgitaswell: Had forgotten about 200 day moving averages 'n all that stuff... Yes, 90 is a clear resistance (previous support in 2013) on that chart. Re PE ratio, important to note earnings are reported in Dollars, share price is in Sterling. Probably helpful, but Dollar not as strong as Euro against Sterling. But it's all about future earnings, and whether they will be achieved. Have to say the more I see and hear about the direction of travel regarding electric cars and the important element of government legislation (sensible or not, it is what is it...) around the world, the more attractive investing in a quality cable maker becomes.
04/11/2017
10:52
imastu pidgitaswell: Results out next week. I'm not expecting much of the good vibes (electric vehicles, trade deals, overall streamlining etc) to manifest in hard numbers - yet, but the share price continues to head upwards in anticipation. Just hope it's not getting ahead of itself, but we'll see soon enough. Two year chart looks very nice, and recent trades have been on the buying side, for a few days now (but someone holding the price at 74). Large investor (Ruffer) also adding, up to 19%. All good for now.
10/9/2016
18:53
she-ra: Duncan Doughnut - To prop up the share price. In any case directors always make sure they do well out of deeply discounted placing and by buying quite a lot they will be able to subscribe to a lot more on the cheap.
05/9/2016
18:14
she-ra: Quite conservative for Liberium. They usually set a target price 200%+ than a current share price and then those in the know about them just laugh.
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