Ahold

i98mark

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Un titolo value, che scambia molto al di sotto del proprio valore di mercato e che è candidato ad un brekup che ne incrementerebbe notevolemente il valore...

L'equivalente in area euro di titoli come Tyco o Time Warner per chi segue i mercati USA...

Oggi in forte rialzo per via delle news...

http://www.forbes.com/markets/feeds/afx/2006/06/12/afx2808636.html
 
La prima trimestrale 2006... ;)

UPDATE 2-Ahold Q1 profit up 76 pct, ops review continues
Wed Jun 21, 2006 05:09 AM ET
(Adds statement from conference call, margins US retail)
By Harro ten Wolde

AMSTERDAM, June 21 (Reuters) - Dutch retailer Ahold NV (AHLN.AS: Quote, Profile, Research) said on Wednesday its first-quarter net profit rose 76 percent on higher sales, improved operating income and reduced financial costs.

The first-quarter net profit of 236 million euros ($297 million) topped the mean of analysts' expectations at 197 million euros, according a Reuters poll of 13 analysts.

Review of underperforming assets has started and will be completed in the fall, the company said.

"The competitive environment continued to be challenging for Stop & Shop / Giant-Landover and conditions remained difficult in Central Europe and at Tops, especially in North East Ohio," it said in a statement.

The world's fourth-biggest food retail and food service group in sales, had already reported in May that its total sales in the first quarter rose 8.6 percent to 14.1 billion euros.

First-quarter earnings before interest and taxes rose to 455 million euros, which included gains on the sale of property, plant and equipment of 66 million euros and impairments of non-current assets of 17 million euros.

Analysts polled by Reuters were expecting an operating profit of 395 million euros.

Shares in Ahold were down 0.6 percent at 6.54 euros at 0830 GMT, valuing the retailer at 15 times 2006 earnings, compared with a price-earnings ratio of 16 times for Carrefour (CARR.PA: Quote, Profile, Research) and 15 times for Tesco (TSCO.L: Quote, Profile, Research) .


OUTLOOK MAINTAINED

"We basically keep our guidance for our retail activities," Chief Executive Officer Anders Moberg told journalists in a conference call.

In March, Ahold cut its 2006 retail operating margin target range to 4 percent to 4.5 percent from 5 percent and lowered its forecast net retail sales growth to 2.5 percent to 3 percent also from 5 percent due to competition and cost pressures.

Ahold's foodservice business is targeting a 2006 operating margin of 1.7 percent.

Ahold owns the Netherlands' biggest supermarket chain, but generates more than 70 percent of its turnover in the United States.

At its main U.S. retail chains, Stop & Shop/Giant Landover and Tops/Giant Carlisle, first-quarter earnings in dollars were down on a-year-on basis. Operational margins at Stop & Shop/Giant were 5.7 percent down from 6.1 percent, while mean analysts' expectations were also 5.7 percent.

Tops/Giant Carlisle's first-quarter margin was flat at 2.7 percent. Analysts were expecting operational margin of 2.4 percent. Fourth-quarter margins were 4.9 percent at Stop & Shop/Giant and 0.4 percent at Tops/Giant.

"Basically, it's Albert Heijn and Giant Carlisle beating expectations, but this is not very important. Stop & Shop and Central Europe are still underperforming and U.S. foodservice is beating expectations, but with question marks over the quality of that," said a London dealer.

(Additional reporting by Louise Heavens in London)


© Reuters 2006. All Rights Reserved.
 
Chissà se qualcuno ha valutato l'ingresso qui: chi l'avesse presa attorno a 6,50, quando la segnalavo, tenga conto che un valore corretto della società è attorno a 8-8,50...

Avanti di questo passo, fra un po' potrebbe essere opportuno valutare l'uscita...
 
i98mark ha scritto:
Chissà se qualcuno ha valutato l'ingresso qui: chi l'avesse presa attorno a 6,50, quando la segnalavo, tenga conto che un valore corretto della società è attorno a 8-8,50...

Avanti di questo passo, fra un po' potrebbe essere opportuno valutare l'uscita...


QUALSIASI M...A DI TITOLO EUROPEO DEL SETTORE COMPRAVI
TI ANDAVA BENE, ECCETTO UNA

LAURUS , CHE DIRE, HO CONTROLLATO LA DATA DEL PRIMO MESSAGGIO
TU + 40 :)
IO MENO :(

CIAO DA BIMBOSPERDUTO
 
bimbosperduto ha scritto:
QUALSIASI M...A DI TITOLO EUROPEO DEL SETTORE COMPRAVI
TI ANDAVA BENE, ECCETTO UNA

LAURUS , CHE DIRE, HO CONTROLLATO LA DATA DEL PRIMO MESSAGGIO
TU + 40 :)
IO MENO :(

CIAO DA BIMBOSPERDUTO

Ciao Bimbosperduto,

che dire, dai, succede...

Vedrai che saprai ritrovare anche tu la strada del gain... ;) :cool:
 
i98mark ha scritto:
Chissà se qualcuno ha valutato l'ingresso qui: chi l'avesse presa attorno a 6,50, quando la segnalavo, tenga conto che un valore corretto della società è attorno a 8-8,50...

Avanti di questo passo, fra un po' potrebbe essere opportuno valutare l'uscita...

La sospensione dei colloqui fra Ahold e Delhaize in vista di una possibile fusione consente al titolo di discendere rispetto ai massimi recenti attorno a quota 8,50...

http://today.reuters.com/news/artic...umerProducts&storyID=nL14335150&from=business

Tenuto conto che la fusione è alternativa rispetto ad altre opzioni richieste al management da importanti azionisti ai fini della creazione di maggior valore, fra le quali l'ipotesi di disinvestimento di primarie attività in USA, non è improbabile che risalga a breve almeno a ritoccare i recenti massimi, magari dopo aver testato i primi supporti di un qualche rilievo dell'attuale fase rialzista, un poco più in basso rispetto ai prezzi attuali, scaricando nel mentre i livelli di ipercomprato raggiunti sui massimi....

Vedremo :)
 
La cessazione dei colloqui fra Ahold e Delhaize e la debolezza di questo settore del retail USA ha oscurato la notizia della cessione della controllata US Foodservice ed il piano - annunciato per venire incontro alle richieste avanzata da alcuni fondi al management - che prevede per effetto di tale vendita e di tagli ai costi operativi nell'ordine di 500 mln EUR entro il 2009 di restituire agli azionisti 2,5 mld EUR e di ridurre il debito di Ahold di 2 mld EUR, dopo la crisi legata agli scandali contabili del 2003...

Reuters
Dutch Ahold to sell U.S. Foodservice
Monday November 6, 7:44 am ET
By Foo Yun Chee and Reed Stevenson

AMSTERDAM (Reuters) - Dutch food retailer Ahold (Amsterdam:AHLN.AS - News; NYSE:AHO - News) said on Monday it planned to sell its U.S. Foodservice unit as part of a strategic review following a 2003 accounting scandal centered around the unit.

Ahold, the owner of U.S. supermarkets including Stop & Shop, also said it would return some 2 billion euros to shareholders as it announced a long-awaited overhaul of its business as it endeavors to boost its profitability.

Ahold said it would sell U.S. Foodservice, the unit at the center of a nearly 1 billion euro accounting scandal, as well as its U.S. Tops retail chain and operations in Poland and Slovakia.

The world's fourth largest retailer said it would cut operating costs by 500 million euros by the end of 2009 and also sell its holding in Jeronimo Martins Retail. It also aimed to reduce debt by 2 billion euros thanks to the asset sales.

"Since the crisis in 2003, we have completed a comprehensive revitalization program," Ahold President and Chief Executive Anders Moberg said in a statement.

"It is now time for us to focus our efforts on strengthening our retail competitive position, particularly in the United States."

Ahold shares traded up 3.1 percent immediately after the announcement before settling back to trade up one percent at 8.42 euros by 1210 GMT, outperforming a flat DJ Stoxx index of European retail companies (Zurich:^SXRP - News).

The retail review was in line with analysts' expectations.

Moberg, who launched the review in May after slashing Ahold's sales forecasts, reaffirmed a target of retail net sales growth of five percent and retail operating margin growth of five percent.

"We're refocusing our portfolio, we'll restructure and reduce costs significantly ... as competition has continued to intensify our progress hasn't been enough to get us to where we need to be," Moberg told a press conference.

Ahold had been struggling to boost profitability and recover from the accounting scandal under pressure from hedge funds Centaurus Capital and Paulson & Co., which together own about 6.4 percent of the retailer, to sell U.S. Foodservice.

Buoyed by merger and asset disposal talk, Ahold shares have gained 32 percent since the start of the year versus a 23.6 percent increase in the DJ Stoxx retail index. The stock trades at 17 times estimated 2006 earnings against France's Carrefour (Paris:CARR.PA - News) at 18 times.

Analysts said selling off assets, especially U.S. Foodservice, followed by a share buyback, could help Ahold to regain an investment-grade credit rating and pave the way for the return of dividends for shareholders.

The U.S. Foodservice business, which sells catering supplies, had 14.87 billion euros ($19 billion) in 2005 sales, one-third of the group's revenues, but has few synergies with Ahold's core food retail business.

Some private equity firms, including Clayton, Dubilier & Rice, Kohlberg Kravis Roberts (which bought Ahold's Stop & Shop chain) and Cerberus Capital Management are interested in the U.S. Foodservice business, a source familiar with the matter said last week.
 
I due edge funds azionisti di Ahold che avevano insistito per la cessione di U.S. Foodservice e per la realizzazione di altre operazioni finalizzate a generare valore a beneficio degli shareholders sono stati ricevuti dal management di Ahold, dopo che in un primo tempo la società aveva rifiutato un incontro ufficiale.

AMSTERDAM, Nov 22 (Reuters) - Hedge fund shareholders Centaurus Capital and Paulson & Co., which have put pressure on Ahold to sell its U.S. assets, met the Dutch retailer earlier this week, a spokesman for the funds said on Wednesday. "I can confirm that they met on Monday. It was an open dialogue such as companies have with major shareholders," the spokesman said. He declined to provide details.

Earlier this month, Ahold, the world's fourth-biggest food-retail and foodservice group by sales, said it would sell its U.S. Foodservice business, bowing to pressure from the hedge funds which together hold a 6.4 percent stake.

The funds also want the retailer, which owns the Netherlands' biggest supermarket chain but generates 74 percent of its turnover in the United States, to sell its sizeable U.S. food-retail business.

"We had a meeting with them, it was constructive. We did not discuss about things that had not been disclosed before," Ahold spokeswoman Caro Bamforth said, declining further comment.

Centaurus and Paulson have said the sale of the U.S. assets would boost Ahold's market value to around 14 billion euros ($18 billion). Ahold has a current market value of 12 billion euros. The shares were up 1.28 percent at 7.90 euros by 1200 GMT.

Ahold plans to return about 2 billion euros to shareholders and has said it will talk to shareholders before deciding how to return the cash.
 
Allora, ha stornato, poi è risalita... adesso a 8,10 circa in terra di nessuno...
 
Entrato a 16,15€,
oggi buon rialzo a 17,00 (+5%) dopo pubblicazione risultati.
 
Altro +3,5% oggi
Siamo al +20% in 3 mesi.

Molto bene
 
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