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EABL Half Year 2012/2013 Results
Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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@mwekez@ji;It was 5% above the LIBOR rate since it was pegged in dollars.Now on the same page 5 years with the financing cost monster is too long. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Ericsson wrote:@mwekez@ji;It was 5% above the LIBOR rate since it was pegged in dollars .... page 119 of EABL Annual Report for the Year Ending 31st June 2012 talked of a rate of 364 days T Bill rate + 1.5% Rink >>>> https://www.eabl.com/downloads/annual-report-2012.pdf
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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Ok mwekez@ji Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Ok @Ericsson. Over to @erifloss #Post No. 20
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Plunge baby plunge...Supply at KES295...no takers...waiting for some panic selling after those results delivers a harsh reality check...
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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the deal wrote:Plunge baby plunge...Supply at KES295...no takers...waiting for some panic selling after those results delivers a harsh reality check... And there is a 10,000 shares demand at 200/-. Thats, -35 percent if he ever finds a seller. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Chief Joined: 1/3/2007 Posts: 18,126 Location: Nairobi
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mwekez@ji wrote:hisah wrote:mwekez@ji wrote:The KES 1.50 interim dividend is a monstrous 40% lower than that the one paid last year of KES 2.50 The financial costs spike for the 19B loan is worrisome with revenues up only 10%. Indeed that top line growth of 10% is significantly lower than in previous periods. Alcohol markets in the region are clearly going through a turbulent period given the tough legislation and the killer taxes. On the dividend, I find it’s now official that EABL won’t dish out dividends like it has done before. The counter has entered an investment mode requiring huge money. They borrowed to purchase Serengeti Breweries in Tanzania and also constructed a new brewery in Moshi, mash filter in Uganda and a canning line in Kenya. New investments lined up include an additional spend of KES 4bn. …. I find 300 very pricey but at the right price (200-ish) I would jump back in. The loans can/will be paid off with solid cashflow (& reduced dividends) as the Serengeti upgrade is completed, the mash filter reduces costs for EABL Uganda, etc. There are also new products launched in KE & add the exports to S.Sudan [over the next few years] once the oil crisis is over. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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jaggernaut wrote:Blue chip! Whats the dividend yield? Blue chip, wrong price!!! In the last financial year, it paid a dividend of KES 8.75 (interim dividend of KES 2.50 + final dividend of KES 6.75) working out to a dividend yield of 3% at the VWAP of KES 295. ... put in mind that this year, final dividend will be slashed as has started with slashing of interim dividend to KES 1.50 ... VERDICT: This is not a dividend stock
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Trailing EPS: 13.46 (bound to reduce in this FY as has started with HY)
Trailing P/E: 21.91x - Crazy expensive
NBV*, P/B* - Crazy expensive figures
Reasons fundamentalist dont want to touch this counter at current price
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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mwekez@ji wrote:Trailing EPS: 13.46 (bound to reduce in this FY as has started with HY)
Trailing P/E: 21.91x - Crazy expensive
NBV*, P/B* - Crazy expensive figures
Reasons fundamentalist dont want to touch this counter at current price Expansion has been overrated. Before the topline growth nets off the high financing costs, capex armortisation and new market penetration costs i expect some volatility in the next 2-3 years. I will be a buyer at any price 150-200. Life is short. Live passionately.
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Rank: Member Joined: 3/20/2008 Posts: 503
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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.... he he. and a new one appointed, pap! >>> [url=http://www.rich.co.ke/media/docs/EABL-resignation%20&%20appointment%20of%20Director.pdf]Rink[/url]
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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mwekez@ji wrote:.... he he. and a new one appointed, pap! >>> [url=http://www.rich.co.ke/media/docs/EABL-resignation%20&%20appointment%20of%20Director.pdf]Rink[/url] At times thats why i admire non-Africans. TAKING RESPONSIBILITY Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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dunkang wrote:mwekez@ji wrote:.... he he. and a new one appointed, pap! >>> [url=http://www.rich.co.ke/media/docs/EABL-resignation%20&%20appointment%20of%20Director.pdf]Rink[/url] At times thats why i admire non-Africans. TAKING RESPONSIBILITY what's is cooking on this share? seems half 2 may be better. possibility of a split or bonus? punda amecheka
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Rank: Hello Joined: 5/23/2013 Posts: 5
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East African Breweries Limited (EABL KN) held its quarterly analyst briefing on 19 June 2013. The conference call did not provide information we hadn’t factored in our FY13 estimates, and as a result believe the brewer is in line to deliver an EPS of 10.79 (-19.2%y/y). We maintain a SELL recommendation on a fair value of KES 211.70 for the brewer.
Management suggest FY13 results to June will deliver a reasonably robust top-line performance, we think bottom line is likely to be weak as a result of higher finance costs and the absence of the one-off gain of KES 3.6bn from the sale of its stake in Tanzania Breweries.
EABL expects Senator Keg volumes to reduce going forward as a result of the new reduced duty remission of 50% compared to 100%. The volume impact will not affect FY13 earnings as the effective date depends on the date of gazettement.
Whereas interest rates have been on a downward trend, total interest cost on the KES 19.5bn loan used to purchase a 20% stake back from SABMiller will apply for a full calendar year of 12 months rather than 7 months in the previous financial year. The loan is KES denominated, variable and priced at 364 day T Bill+1.5%.
Source: SIB
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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BestCloserKenya wrote:East African Breweries Limited (EABL KN) held its quarterly analyst briefing on 19 June 2013. The conference call did not provide information we hadn’t factored in our FY13 estimates, and as a result believe the brewer is in line to deliver an EPS of 10.79 (-19.2%y/y). We maintain a SELL recommendation on a fair value of KES 211.70 for the brewer.
Management suggest FY13 results to June will deliver a reasonably robust top-line performance, we think bottom line is likely to be weak as a result of higher finance costs and the absence of the one-off gain of KES 3.6bn from the sale of its stake in Tanzania Breweries.
EABL expects Senator Keg volumes to reduce going forward as a result of the new reduced duty remission of 50% compared to 100%. The volume impact will not affect FY13 earnings as the effective date depends on the date of gazettement.
Whereas interest rates have been on a downward trend, total interest cost on the KES 19.5bn loan used to purchase a 20% stake back from SABMiller will apply for a full calendar year of 12 months rather than 7 months in the previous financial year. The loan is KES denominated, variable and priced at 364 day T Bill+1.5%.
Source: SIB from 400 to 212 in less than a month. kweli nse is not a fish mkt.I give up. punda amecheka
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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It belongs to 200/- Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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FYR last year were released on August 23. Waiting for this years
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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newfarer wrote:BestCloserKenya wrote:East African Breweries Limited (EABL KN) held its quarterly analyst briefing on 19 June 2013. The conference call did not provide information we hadn’t factored in our FY13 estimates, and as a result believe the brewer is in line to deliver an EPS of 10.79 (-19.2%y/y). We maintain a SELL recommendation on a fair value of KES 211.70 for the brewer.
Management suggest FY13 results to June will deliver a reasonably robust top-line performance, we think bottom line is likely to be weak as a result of higher finance costs and the absence of the one-off gain of KES 3.6bn from the sale of its stake in Tanzania Breweries.
EABL expects Senator Keg volumes to reduce going forward as a result of the new reduced duty remission of 50% compared to 100%. The volume impact will not affect FY13 earnings as the effective date depends on the date of gazettement.
Whereas interest rates have been on a downward trend, total interest cost on the KES 19.5bn loan used to purchase a 20% stake back from SABMiller will apply for a full calendar year of 12 months rather than 7 months in the previous financial year. The loan is KES denominated, variable and priced at 364 day T Bill+1.5%.
Source: SIB from 400 to 212 in less than a month. kweli nse is not a fish mkt.I give up. A month ago it still had a fair value of 212. ... Buy at a discount below 200 if it get there ... Some crazy foreigners have been buying at crazy prices
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EABL Half Year 2012/2013 Results
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