Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
This is quite a quiet share board, so don't be discouraged. But the company does seem to be doing well, gathering new orders etc. Fingers crossed.
Surely this is very good news?
"Award of £1.2m order for a 1.5MWh solid state battery assembly line
Mpac Group plc (AIM: MPAC), a global leader in engineering and automation providing assembly and packaging solutions, announces that it has received a £1.2m order to deliver a SiSTEM pilot battery assembly line secured by funding from the Automotive Transformation Fund (ATF), partnered with Ilika, Agratas and The UK Battery Industrialisation Centre ("UKBIC")."
They're doing it for Freyr in Norway, the battery gigaplant, now have an order for something here along the same line. Confirmation. And there's nothing like doing it: they will be learning at every step - and gaining from the other participants.
No one seems very excited. Have I got this right?
Was looking to buy Ilika but research led me here because their industrial reach was better. Now their battery conveyor belt for Ilika is coming good and I am nicely ahead. Moral: Before you rush in to an exciting spec do EXTENSIVE research.
Happy to hold here.
Adam Holland (CEO) and Will Wilkins (Group Finance Director) of Mpac Group conducted an Investor Presentation covering their FY Results for the period ended 31 Dec 2023.
After a short video ("Innovation Unleashed"), management ran viewers through highlights of the period including strong financial performance, returning the Group to revenue and profit growth, and positive net cash. The team updated investors on progress towards strategic objectives and discussed the Group's ambitions, as well as providing a detailed financial review and answering questions in a wide-ranging Q&A session.
The full video is available below, divided into chapters:
0:00:03 Mpac corporate video ("Innovation Unleased")
0:06:49 About Mpac, including case studies (Adam Holland, CEO)
0:21:22 Financials (Will Wilkins, Group FD)
0:30:53 Ambition & Strategy
0:39:38 Summary & Outlook
0:40:35 Questions & Answers
Full video here: https://www.equitydevelopment.co.uk/research/mpac-group-investor-presentation-fy-results-march-2024
Detailed new research report here: https://www.equitydevelopment.co.uk/research/going-for-growth-fy23-results-ahead-on-all-metrics
For the year to 31 December 2023, Mpac Group reported results which were ahead on all key metrics.
Revenue of £114.2m, +17%YoY, was 7% above ED outlook and EBITDA (adj.) of £10.7m, 12% above our outlook, a 9.4% margin (FY22: 7.0%). The closing order book of £72.5m was up 8%YoY, backed by record £118.5m order intake, an impressive +41%YoY.
Mpac achieved its initial goal of a return to normalised operations and has established a firm platform for growth. Accordingly, the Group has launched a new five-year roadmap with an ambition to broadly double revenue from their existing businesses.
We have raised our Fair Value from 485p/share to 530p/share with the prospect of FY25 adj. EBITDA c.40% above FY23.
Expecting a bit of short-term action and, as usual, unless results wildly good or bad, retrenchment afterwards.
The thing with this co is that although hardly large and well-known, it has expertise and many overseas contacts.
This gives it the potential to find new work and, perhaps even more important, to attract bids while small enough to be a nice 'bolt-on'. Definitely one to hold.
Mpac, a global packaging and automation solutions group, will be conducting an Investor presentation covering their Full Year results for the period ended 31st December 2023.
The online presentation will be hosted by Adam Holland (CEO) and Will Wilkins (Group Finance Director).
This event will take place at 9.45am on Friday 22nd March.
The webinar is open to all existing and potential shareholders, and registration is free. Questions can be submitted during the presentation to be addressed at the end.
Sign up to register here: https://www.equitydevelopment.co.uk/news-and-events/mpac-fypresentation-22march2024
Now's your chance
Every time I think of buying more, it goes up, and I tell myself not to buy more as it will surely stop rising soon.
And then it goes up more the following day/week.
Still, can’t really complain!
Another tip for MPAC, Lucy T the Sunday Times today. All free positive publicity is good publicity!
Tipped by both ST in the IC and the Mail on Sunday.
Can't fail!
Nd
....I have ever bought more of a rising stock, but got a feeling about this one!
....turn to the Illika page on LSE and show the message from X. This is why I opted to buy MPAC and really pleased this is cleared for take off!
Link to research report: https://www.equitydevelopment.co.uk/research/strong-performance-in-line-with-expectations
In a Trading Update for the year to 31 December 2023, Mpac Group reports that revenue and (adj.) profit before tax in H2 were substantially above the first half, whilst margins for the year returned towards normal levels. As a result the Group expects FY23 (adj.) PBT to be in line with market expectations and sees FY23 performance as providing a sound platform for continued growth in FY24.
The Trading Update reflects the expectation of a return to normalised operations following the disruption to supply chains which dominated FY22. For FY23 we expect Mpac to show gross profitability at 28.2% compared to 25.0% a year earlier and 23.9% in H1, i.e. implying a second half margin of c.33%. Our (adj.) EBITDA outlook also implies second half margin improvement to 11.5% compared to 6.4% in H1, and for the year, 9.0% (FY22: 7.0%). For FY24 we expect this margin to further improve to 11.2%, with an increase at gross level to a 31.3% margin.
Whilst Mpac’s shares have recovered somewhat over recent weeks, they still trade on a 32% discount to the market cap-weighted average of their peers and we maintain our Fair Value of 485p/ share, indicative of a FY24 EV/EBITDA multiple of 7.5x.
“we will report a substantial increase in revenue and profitability in H2 2023 over H1 2023. Mpac's balance sheet remains strong, and we closed 2023 with positive net cash, in line with our expectations.“
A reassuring sentence if ever there was one! Looking forward to the full set of results!
Richard08. looking good! a big buyer bought two chunks which only showed after close of business. So its Hello £3+.
Seems like someone may be on your wave length here oldbutnowisa… hopefully it’s good news that has leaked! We shall know soon.
.....likely in a week or so. Tightly held share so good news could move the SP sharply.
Usually a trading update here second week in January, should be fair to good.
You are not wrong, oldbutnwisa. One sale today, so far, of 976 shares and one uncrossing trade of 144 shares and the price drops by more than 4%!
....what a tiny bit of trading would do to this SP. The very small capital is obviously very tightly held..If I am correct, the annual report should send the SP skyward!
Market seems to be taking a teensy bit of notice.
Continued. (keyboard playing up)
This is why I preferred Mpac, Good diversification of interests for such a small outfit..
See the RNS for Ilika today. Mpac is partnering and will construct the production belts for their huge batteries in due course.
J
Following Ilica on and off for long while and just noticed it has linked up with Mpac to progress its new fangled battery (which nearly wiped it out a while back) Now this will, hopefully not be make or break to Ilica but only one project to Mpac, which for a modestly sized outfit, has a decent spread of interests and connections. Also it would not cause indigestion if it was itself on the end of a takeover bid! Finally I noted that, in common with a large number of other 'industrials', Mpac's NAV looks tasty. So a reasonable purchase has been made for the p/f.