공시 • Feb 23
MBH Corporation plc Announces Resignation of Mohid Miah as Director and Secretary MBH Corporation PLC announced that Mohid Miah has resigned as an Executive Director and Secretary with immediate effect. The Board of Directors of MBH Corporation Plc now consists of Kevin Hanbury, Ian Elsey and Peter Lawrence. Buying Opportunity • Oct 05
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be €1.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company became loss making. New Risk • Oct 02
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Share price has been highly volatile over the past 3 months (659% average daily change). Earnings have declined by 18% per year over the past 5 years. Market cap is less than US$10m (€4.95m market cap, or US$5.20m). Minor Risks Paying a dividend despite being loss-making. Shareholders have been diluted in the past year (8.2% increase in shares outstanding). New Risk • Oct 01
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Share price has been highly volatile over the past 3 months (659% average daily change). Earnings have declined by 18% per year over the past 5 years. Market cap is less than US$10m (€3.31m market cap, or US$3.50m). Minor Risk Paying a dividend despite being loss-making. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €1.50, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 12x in the Construction industry in Europe. Total loss to shareholders of 88% over the past three years. Buying Opportunity • Aug 15
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 31%. The fair value is estimated to be €1.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years. Earnings per share has declined by 60%. Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to €1.59, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 11x in the Construction industry in Europe. Total loss to shareholders of 85% over the past three years. Buying Opportunity • Jul 21
Now 44% undervalued after recent price drop Over the last 90 days, the stock is down 56%. The fair value is estimated to be €0.043, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years. Earnings per share has declined by 60%. Buying Opportunity • Jun 29
Now 32% undervalued after recent price drop Over the last 90 days, the stock is down 36%. The fair value is estimated to be €0.043, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Earnings per share has declined by 60%. New Risk • Jun 15
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.7% Last year net profit margin: 2.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (61% average weekly change). Market cap is less than US$10m (€5.92m market cap, or US$6.42m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (0.7% net profit margin). 공시 • May 16
MBH Corporation PLC (DB:M8H) acquired P.N. Sharpe Limited for £8 million. MBH Corporation PLC (DB:M8H) acquired P.N. Sharpe Limited for £8 million on May 15, 2023. The purchase consideration is estimated to be approximately between £7 million to £8 million in cash subject to finalisation of completion accounts. The deal will be funded partly through debt financing of £4m (payable on completion) and deferred consideration of £3-4 million, which is payable over a 3 year period. Paul Seabridge, CEO of Robinsons Caravans and the MBH Corporation Leisure Vertical, will oversee the integration of White Arches into MBH and will manage the business going forward. For FY ended 30 September 2022, the unaudited revenue of White Arches was £25.1 million.
MBH Corporation PLC (DB:M8H) completed the acquisition of P.N. Sharpe Limited on May 15, 2023. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Kevin Potter was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • May 18
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 8.3%. The fair value is estimated to be €0.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 45% over the last year. Earnings per share has declined by 60%. Revenue is forecast to grow by 46% in a year. Earnings is forecast to grow by 163% in the next year. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 4 non-independent directors. Non-Executive Director Lisa Maynard-Atem was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Apr 23
Now 28% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be €0.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 45% over the last year. Earnings per share has declined by 60%. Revenue is forecast to grow by 46% in a year. Earnings is forecast to grow by 163% in the next year. Reported Earnings • Oct 04
First half 2021 earnings released: EPS UK£0.024 (vs UK£0.014 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: UK£49.6m (up 81% from 1H 2020). Net income: UK£1.69m (up 155% from 1H 2020). Profit margin: 3.4% (up from 2.4% in 1H 2020). The increase in margin was driven by higher revenue. Executive Departure • Aug 05
Non-Executive Chairman of Board Svetlana Coronado has left the company On the 1st of August, Svetlana Coronado's tenure as Non-Executive Chairman of Board ended after 1.2 years in the role. We don't have any record of a personal shareholding under Svetlana's name. Svetlana is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 1.25 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Aug 05
Non-Executive Chairman of Board Svetlana Coronado has left the company On the 1st of August, Svetlana Coronado's tenure as Non-Executive Chairman of Board ended after 1.2 years in the role. We don't have any record of a personal shareholding under Svetlana's name. Svetlana is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 1.25 years, which is considered inexperienced in the Simply Wall St Risk Model. Is New 90 Day High Low • Oct 24
New 90-day low: €0.34 The company is down 18% from its price of €0.42 on 24 July 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Services industry, which is up 17% over the same period. Reported Earnings • Oct 01
First half earnings released Over the last 12 months the company has reported total profits of UK£3.61m, up 44% from the prior year. Total revenue was UK£57.2m over the last 12 months, up 66% from the prior year.