In today’s briefing:
- Keisei Electric (9009): Buyback
- The Beat Ideas: Salzer Electronics: Smart Meter Play, A Proxy to India’s Electrification Story
- DN Solutions IPO Preview
- TREX Company Inc.: Pursuing Digital Transformation & Operational Efficiencies To Better Capture Market Opportunities!
- KBR Inc.: Growth in International Government Markets Fueling Our Bullishness!
- Gattaca PLC – Friday Take Away: 6 March 2025
- What’s News in Amsterdam – 14 March 2025 (InPost)
Keisei Electric (9009): Buyback
- Post COVID investors have been monitoring Keisei Electric Railway Co (9009 JP) as part of the shareholder activism program.
- Recently, the management has announced a share buyback of up to 8 million shares. In 2022, they bought back 5 million shares, and the share price rallied 21% that year.
- It currently trades at 6x PER while Topix trades at 14x PER.
The Beat Ideas: Salzer Electronics: Smart Meter Play, A Proxy to India’s Electrification Story
- Salzer Electronics (SZE IN) is aggressively scaling its smart meter business with INR 600–700 crore revenue targeted in FY26, aiming to sell up to 8 lakh units annually.
- This diversification into B2B smart metering could double revenues, boost margins, and improve ROCE, transforming Salzer from a niche switchgear player to a full-stack energy solutions provider.
- Salzer is no longer a slow-growing industrial supplier: it’s evolving into a high-growth, government-aligned, tech-driven player with strong export and R&D-led optionality.
DN Solutions IPO Preview
- DN Solutions is getting ready to complete its IPO in Korea in May 2025. The IPO price range is from 65,000 won to 89,700 won.
- The book building for the institutional investors will last from 22 to 28 April. The expected IPO offering amount is from 1.14 trillion won to 1.57 trillion won.
- The IPO price range is based on DN Solutions’ net profit of 317.4 billion won, P/E of 25.2x, and IPO discount rates of 29.1% to 48.6%.
TREX Company Inc.: Pursuing Digital Transformation & Operational Efficiencies To Better Capture Market Opportunities!
- Trex Company has reported its fourth-quarter and full-year 2024 financial results, showcasing a mix of strategic successes and ongoing challenges.
- The company exceeded revenue expectations, driven by strong demand for premium decking products and a nascent recovery in value-priced offerings.
- This performance reflects effective operating leverage from higher utilization rates and successful cost-reduction measures.
KBR Inc.: Growth in International Government Markets Fueling Our Bullishness!
- KBR, Inc. demonstrated a strong financial performance in the fourth quarter and the full fiscal year 2024, surpassing its earlier projections.
- The company achieved revenues of $2.1 billion in the fourth quarter, culminating in an annual revenue of $7.7 billion, marking a 23% growth for the quarter and 11% for the year overall.
- Organic growth for the year stood at 9%.
Gattaca PLC – Friday Take Away: 6 March 2025
- Friday Takeaway—delving a little deeper into UK small caps Friday Takeaway from UK Small Caps This will delve a little deeper on individual companies and focus on non-house stocks under £200m market capitalisation to raise awareness 7th March 2025 Alphabetically arranged Share prices and market capitalisations taken from Alpha Terminal from the current price on the day of publication.
- Top three shareholders are taken from the websites of the companies that we are writing about, unless there is a more up to date TR-1 notification RNS announcement.
- A deeper look into two possibly undervalued companies with results soon GATC Hiring Help GELN Smell of Success Gattaca 84p £25.98m (GATC.L) Financial Calendar: Year End July, Report October, Interims January, Report April Three Main Shareholders: George Materna 25.62%, MMGG Acquisition Ltd 22.81%, Paul Raine 5.65% Key Investment Points: Cyclical opportunity, Cash available for development, Low Rating There was an Interim Trading statement to the period end January 2025 in mid-February from this specialist staffing solutions business that was established 35 years ago.
What’s News in Amsterdam – 14 March 2025 (InPost)
- In today’s edition: • InPost | Allegro Delivery initiative: a valid concern?
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