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CCC, CAVOTEC MSL HOLDINGS LIMITED
Lizard
post Posted: Mar 3 2009, 07:26 AM
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Fairly solid full year result for Cavotec - NPAT up 27% in Euro's and 38% in NZD. Also good to see order book 21% higher at year end (Euro's) than previous year.

Still, disappointed to see the fall in NTA - mostly the result of paying for alot of intangibles/goodwill in their most recent acquisition. Doesn't seem the time to be doing too much of that. Debt also increasing in the face of both acquisition and increased demands for working capital as they build inventory and receivables required to fill recent large contract wins. So despite a strong result, a weaker balance sheet - less acceptable than it might have been a couple of years ago, but I doubt will become problematic...




 
ShareScene.com
post Posted: Feb 3 2009, 10:00 AM
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Company:
CAVOTEC MSL HOLDINGS LIMITED

Code:
CCC

Website
http://www.cavotec.com/


 
Lizard
post Posted: Oct 31 2008, 12:47 PM
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Another acquisition for Cavotec - Meyerinck. Sounds like a good fit with existing business and adds around 5% to sales. No indication on purchase price, but would seem a good time to be making suitable acquisitions and unlikely to stretch the balance sheet.

 
Lizard
post Posted: Oct 29 2008, 01:58 PM
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Good quarterly report from CCC out this morning. Order book at record levels (up 24% on same period last year and that's in Euro's, not declining NZD's). Rolling 12 months order intake is up 9.7% on a year ago - despite sale of Gantrex in Oc

 
Lizard
post Posted: Oct 25 2008, 11:02 AM
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Another order for Cavotec: Marketwatch

You can check here if you're wondering what a panzerbelt is! (Looks like the cost would be measured in $k's rather than $m's, though the project total is probably still significant)

Should be a quarterly sales report from them in the coming week. Will be interesting to see how they are holding up - no doubt feeling the global pinch a little, but would think USD:Euro exchange rate would be helpful for now as I would assume some orders are made in USD. Also, Moormaster deliveries were underway during the quarter I think.

 
Lizard
post Posted: Oct 10 2008, 09:07 AM
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The good news is that it appears the Financial Controllers partner has acquired more shares...

... the bad news is that it appears the Financial Controller may not be good at maths...

(217,560 shares plus 100,000 shares would not normally make 417,560 shares)

 


Lizard
post Posted: Sep 7 2008, 07:19 AM
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Looks like a new order for AMP units reported here? Not sure if it is the same deal as per media relea

 
Lizard
post Posted: Aug 29 2008, 01:39 PM
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First half result looked initially disappointing, but appears they are on track for FY forecast, so possibly just relates to contract timing and sale of Gantrex/acquisition of Dabico. Sounds like most of the Moormaster orders are delivered second half.

 
Lizard
post Posted: Jul 25 2008, 07:17 AM
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Second Quarter Result is now available on the web-site.

Order book is up on a year ago, but plateauing and order intake for quarter was steady on prior year 2Q. Interestingly, the report is rather quiet on "mining and tunnelling" which was the highlight a year ago due to increased activity.

Moormaster appeared to be performing well in 2nd quarter and possibly will further improve in current quarter with the further 12 units ordered for Oman.

I am hoping that profit growth this year will be sourced from increasing margins due to higher proportions of "specialist" products, along with improvements in forex translation and reductions in corporate tax rate.

Still, I originally bought into CCC as a company that could hold it's own relative to the downturn. It has done so (comparatively), but due to price falls elsewhere, there are probably better buys around now. Forward P/E still around 15 by my estimate and PEG probably around 1.

 
Lizard
post Posted: Jul 8 2008, 08:08 AM
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And another order for 12 Moormaster units at Salalah - MSL maybe starting to gain critical mass here.

Meanwhile, NZD:EUR has moved by about 18% over the past year, which hasn't been reflected in the NZD denominated share price.

 
 


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