Waterman Share Discussion Threads

[ramridge] 15/11/2016 08:29

Norbert - it seems you and I are on the same page. If this is correct then we are talking about WTM doubling their revenues at one stroke.
BTW I bought a sizeable position at 08:02 this morning and it still has not been reported as a trade. Current time is 08:29

[muckshifter] 15/11/2016 08:28

Lets not get too carried away with the £85m pa though. The design cost input will be a small fraction of that, and the profit a small fraction of that small fraction, but still very good and reassuring news. Particularly, imho, for an organisation which is a bit too "London - building" orientated in times when Brexit has potentially serious consequences for London.
Regards.

[norbert colon] 15/11/2016 08:15

The wording is slightly ambiguous in that the ABP is worth £1.1b although the construction element is worth only £680 (the rest I assume to be FM).WTM state they will get 50% of the engineering design work hence £680m x 50% over a 4 year timeframe. I have been conservative.

[ramridge] 15/11/2016 08:12

Yes, I found the last sentence confusing.
" The value of the whole construction programme is anticipated to be circa £680 million."
So is the anticipated revenue half of that £340m over 4 years? That makes about £85m p.a.
Which is huge when you consider that the forecast revenue for FY2017 yesterday was £92m
Really need clarification

[brummy_git] 15/11/2016 08:07

Thanks Norbert - BTW, how did you come up with the £85m?

Waterman will be retained as engineering designer for over 50% of the development programme. The value of the whole construction programme is anticipated to be circa £680 million.

[norbert colon] 15/11/2016 07:48

Another substantial contract win http://www.investegate.co.uk/waterman-group-plc--wtm-/rns/waterman-contract-win/201611150703551840P/RNS would imply fees on circa £85m worth of work for the next 4 years which is very satisfying.

[norbert colon] 08/11/2016 22:08

They are Swedish investors and strong supporters of Waterman. I recall they have an interest in engineering companies and I know mgt liaise with them reasonably regularly. I believe they are listed on the Stockholm exchange.

[mysteronz] 08/11/2016 21:47

Interesting to see AB Traction increasing shareholding. Does anybody know much about them?

[norbert colon] 01/11/2016 14:07

With a belief from management (and one supported by myself) that Asian investors will be looking closely at potential acquisitions in this space, I have just seen the following which is of interest:http://news.sky.com/story/revealed-chinese-property-giant-evergrande-is-cala-suitor-10640514?dcmp=snt-sf-twitter

[norbert colon] 28/10/2016 08:17

AXA given go-ahead by investors to build 22 Bishopsgate, a 1.4 million sqft office development. Major boost for the City post-brexit.

[brummy_git] 27/10/2016 06:50

Interesting read-across from Arcadis (ie ex Hyder consulting & EC Harris) today wrt their UK building design division

United Kingdom (17% of net revenues)
Net revenues decreased mainly due to a 9% currency effect as a result of the decline of the British Pound. Net revenues grew organically with 3% due to good growth in Infrastructure and Water and to a lesser extent in Environment. In Buildings, revenue decline continued due to Brexit-related delays in investment decisions. A large architecture contract partly compensated for this decline. The operating EBITA margin was slightly lower.

[glaws2] 19/10/2016 09:00

Thanks NC - much appreciated.

[norbert colon] 19/10/2016 08:25

PhilipA positive and encouraging meeting I thought. Some slowdown anticipated for FY 2017 due to flat order book (commercial sector slower + Brexit) but they are winning some great projects still and I have confidence in the management.I personally didn't come away wth any negatives and a pause for breath is probably not an ad thing.Weak sterling has to make them a potential bid target.

[glaws2] 19/10/2016 08:00

Any feedback from yesterday's meeting - I couldn't make it as I was at the TSTL meeting.

[davidosh] 18/10/2016 10:22

Just a reminder that I have a couple of places still available for the presentation by the directors this afternoon at 3pm if any of you want to join ?

mellomeeting.co.uk

[hazl] 13/10/2016 08:46

When did TW first start pumping them,any idea?

[pj 1] 12/10/2016 16:45

Ironic that TW blasts brokers, recommendations and their notes to pieces, regularly calling them incorrect and badly researched. But in this case actually follows their lead and said research.

[rhomboid] 12/10/2016 16:00

I think TCM did it to themselves in all honesty, they've always been "interesting " imho

[mfhmfh] 12/10/2016 15:28

I hope the shareprophets article doesn't do to this what it's just done to TCM

[hazl] 12/10/2016 15:16

London centric does get you noticed though,from 'Londoners' to the many people who are international visitors.
This very recent statement in late September is quite an accolade in my opinion.
Waterman Group PLC

22 September 2016

'WATERMAN GROUP WINS CANARY WHARF PROJECT

Waterman Group plc ("Waterman" or "the Group"), the engineering and environmental consultancy, is pleased to announce the appointment by Canary Wharf Group to provide structural engineering for a significant development at Canary Wharf, London.

Waterman are assisting Canary Wharf Group with their plans for a further phase of the overall Canary Wharf development which is likely to involve over 200,000 square metres (2,100,000 square feet) of mixed use buildings.

Nick Taylor, CEO of Waterman Group, commented; "We are honoured and proud to have been appointed as structural engineers on this development which is transforming an exciting part of London into a location of national importance. We look forward to developing our relationship with Canary Wharf Group to create further iconic landmarks." '

ADVFN news.
IMO

[hazl] 12/10/2016 14:31

Yes norbert I noticed that this morning,presumably some people who followed him in on the tip may well leave.
However some of us make up our own minds!

[norbert colon] 12/10/2016 12:19

Tom and the guys at Shareprophets have put a 'sell' on Waterman http://www.shareprophets.com/views/24416/waterman-says-it-is-optimistic-up-to-a-point-we-suppose-one-we-got-wrongViva la difference!

[norbert colon] 12/10/2016 09:35

Muckshifter - Yes agreed it's certainly a key market for them without any doubt but they are a regional business covering many sectors. I see that David Stredder @carmensfella has arranged a meeting with WTM management next Tuesday in London @ 3pm if anyone is interested please contact him. I will be attending.

[muckshifter] 12/10/2016 09:20

Norbert,
Thanks for the suggestion. I've read the annual reports over the last few years carefully, with an eye specifically on project locations, and while I accept that they are not purely London centric, I do feel that their biggest and most profitable market, by quite some margin, is in London work.

So it comes down to what you expect to happen as a result of brexit, imho, and personally I expect it to be painful for the UK, both short and long term, with London suffering the most.

But I will have a look at the magazine, as I've not seen it before.
Regards.

[norbert colon] 12/10/2016 08:53

Muckshifter

Suggest take a look at their latest internal magazine which highlights their projects in Oxford, Leeds, Birmingham and Dublin.

hxxps://www.watermangroup.com/wp-content/uploads/2016/10/Waterman-Times_web.pdf

It's a misconception that they are purely London centric albeit this is one of their key markets.