Thanks for the writeup, helps to better understand the company and their segments. Should do well in the long run due to prudent management and cheap valuation.
enjoy reading about these obscure companies have never seen mentioned in my other feeds. sometimes i check and see it in one of my int'l funds. hoping 1 out of 4 you cover could be liquid enough to be considered from my generic broker.
- Results were above guidance and above my posted expectations with an EBIT of 18.9m versus my 18m and an EPS of 3.93 EUR versus my 3.50.
- Dividend is getting raised by 25% to 1.00 EUR
- Company is for the first time mentioned weak construction segment
- 2024 will be a year of investments: (1) Migration of ERP system to S/4 Hana (hopefully no hiccups) and (2) opening of a second warehouse in Alsfeld (close to the existing one in Gießen). Some of the investment will be capitalized and some expensed.
- Nordwest is guiding for a business volume of 5.0b and EBIT of 16.6m EUR in 2024, which I consider decent given weak market conditions, investments and the fact that they tend to guide conservatively.
Two amendments as pointed out by fellow value investor Johannes Wild on X/Twitter:
(1) there is also a Nordwest Handel Podcastin which they explain their utility to clients (in German). ou can find it here: https://newsroom.nordwest.com/mediathek/
(2) Johannes has heard that the majority sharehoilder Rothenberger Gruppe has increased its shareholding from the 50.03% mentioned above. This is possible since they do not have to file every time they buy shares and the official reports state the shareholding of 50.03% only right after their last filing. On the other hand, a recent factsheet (https://investor-relations.nordwest.com/download/companies/nordwest/factsheet_1194_German.pdf ) still states this shareholding. If someone can clarify this point, Johannes and myself will be interested in the answer.
A trading company with negative cash flow from operations year after year. Red flag.
Thanks for the writeup, helps to better understand the company and their segments. Should do well in the long run due to prudent management and cheap valuation.
a well-researched report on a well-managed company.
Still the question remains what is the catalyst for the share price to go up?
enjoy reading about these obscure companies have never seen mentioned in my other feeds. sometimes i check and see it in one of my int'l funds. hoping 1 out of 4 you cover could be liquid enough to be considered from my generic broker.
Nordwest reported on 2023 today:
https://www.investor-relations.nordwest.com/websites/nordwest/German/4410/investor-news.html?newsID=2727417
- Results were above guidance and above my posted expectations with an EBIT of 18.9m versus my 18m and an EPS of 3.93 EUR versus my 3.50.
- Dividend is getting raised by 25% to 1.00 EUR
- Company is for the first time mentioned weak construction segment
- 2024 will be a year of investments: (1) Migration of ERP system to S/4 Hana (hopefully no hiccups) and (2) opening of a second warehouse in Alsfeld (close to the existing one in Gießen). Some of the investment will be capitalized and some expensed.
- Nordwest is guiding for a business volume of 5.0b and EBIT of 16.6m EUR in 2024, which I consider decent given weak market conditions, investments and the fact that they tend to guide conservatively.
Two amendments as pointed out by fellow value investor Johannes Wild on X/Twitter:
(1) there is also a Nordwest Handel Podcastin which they explain their utility to clients (in German). ou can find it here: https://newsroom.nordwest.com/mediathek/
(2) Johannes has heard that the majority sharehoilder Rothenberger Gruppe has increased its shareholding from the 50.03% mentioned above. This is possible since they do not have to file every time they buy shares and the official reports state the shareholding of 50.03% only right after their last filing. On the other hand, a recent factsheet (https://investor-relations.nordwest.com/download/companies/nordwest/factsheet_1194_German.pdf ) still states this shareholding. If someone can clarify this point, Johannes and myself will be interested in the answer.