Thai Union Frozen - größter Tuna-Verpacker der Welt - 500 Beiträge pro Seite

[R-BgO]

...macht außerdem in Shrimps -> profitiert vom GoM-Desaster

derzeit gut 4% Div.Rendite

[R-BgO]

TUF buys French canner
680m deal will help expand sales in EU

* Published: 29/07/2010 at 12:00 AM
* Newspaper section: Business

Thai Union Frozen Products Plc (TUF) is set to become one of the world's largest seafood producers after it agreed yesterday to buy the French canned seafood business MWBrands for 680 million (about 28.5 billion baht) in cash.

Thailand's largest canned and frozen seafood processor and exporter by sales will purchase MWBrands from New York-based Trilantic Capital Partners, formerly the private equity arm of the now-defunct bank Lehman Brothers.

MWBrands is a European leader in tuna and other seafood products through its well-known brands - John West, Petit Navire, Hyacinthe Parmentier and Mareblu - and holds leading market positions in France, the United Kingdom, Ireland, the Netherlands and Italy.

Trilantic acquired MWB through a dispersal of various entities from the US food producer HJ Heinz in 2006. For the latest fiscal year ending on March 31, 2010, MWB generated sales of 448 million. The book value of its total assets was 559 million.

TUF will fund the acquisition through loans from international and Thai banks. It will also issue up to 60 million in convertible bonds.

MWBrands and its subsidiaries will borrow 340 million from Cre'dit Agricole-CIB, Mizuho Corporate Bank Ltd, Standard Chartered Bank, and Sumitomo Mitsui Banking Corp. TUF will borrow 15 billion baht from three Thai banks: Bangkok Bank, Siam Commercial Bank, and Kasikornbank.

TUF expects to complete the deal, pending shareholder approval in early September, by the end of November, said Paco Lee, TUF's financial controller and investor relations officer.

New borrowing is expected to raise the company's debt-to-equity ratio to about two times from 0.6 to 0.7 currently, he added.

TUF president Thiraphong Chansiri said the acquisition would help increase the company's tuna processing capacity to half a million tonnes, and increase Europe's contribution to TUF's total sales from 11% to more than one-third.

Around half of TUF's sales are in the US where its Chicken of the Sea canned tuna brand is predominantly sold, followed by Europe and Japan.

"MWBrands represents a transformational opportunity for TUF to consolidate its strength in the global seafood market. In addition, we believe the combination of these two highly complementary businesses will unlock synergies and create a leading global seafood company with broader supply sources and end-markets," said Mr Thiraphong.

The investment will add four processing plants in France, Portugal, the Seychelles and Ghana to the five existing facilities in Thailand, Indonesia, Vietnam and the US, and will expand its fishing fleet from four to nine vessels.

MWB's strong European footprint provides TUF with future opportunities because of its customer base, distribution, and brand leadership, he said.

MWBrands is expected to lift TUF's overall margins, said KGI Securities. MWBrands' margin on earnings before interest, taxes, depreciation, and amortisation (EBITDA) was high at 16.9% in 2009, superior to TUF's 8.6%, because of sales of more value-added products.

"We believe TUF will apply the same strategy it used with Chicken of the Sea. That is to produce most of its product in the Thai market to enjoy low cost advantages and then ship the products abroad," said Aungkana Tungwikromkrai, a KGI analyst.

TUF last year earned 3.3 billion baht in net profit on sales of 68.9 billion. In the first quarter of this year it earned 831.2 million baht in profit, up 27.3% year-on-year, on sales of 16.3 billion.

TUF shares closed yesterday on the SET at 46.75 baht, down one baht.

[schmithi]

Antwort auf Beitrag Nr.: 39.837.827 von R-BgO am 18.07.10 11:07:30

Guten Morgen,

wie kommst Du auf 4% Div Rendite?

Für die kommenden Auszahlungstermine werden es wohl eher nur so unter 3% werden.

Gruss
Schmithi

[1992]

Antwort auf Beitrag Nr.: 39.893.902 von schmithi am 29.07.10 08:33:15

Bin die letzten Tage rein, sollte bis Oktober auf 1,80 gehen.

Schöne neue Tradingwoche
wünscht 1992

[R-BgO]

Antwort auf Beitrag Nr.: 39.893.902 von schmithi am 29.07.10 08:33:15

Hast recht, hatte die 4% am Anfang übernommen, in meinem Excel stehen nach dem letzten Anstieg auch nur noch 2,7%.

[Giuseppemadoff]

Hi Leute,
habt ihr schon was von der bank bekommen wegen der Kapitalerhöhung die demnächst bei TUF ansteht?? Wie werdet ihr vorgehen?? wie sind die Bedingungen?


mfg

Giuseppe

[R-BgO]

Antwort auf Beitrag Nr.: 40.220.678 von Giuseppemadoff am 28.09.10 07:57:38

Bei comdirect habe ich meine Weisung zur Ausübung schon vor einigen wochen erteilt; muss zu meiner Schande gestehen, dass ich die Konditionen gar nicht angeschaut habe.

[schmithi]

Antwort auf Beitrag Nr.: 40.221.538 von R-BgO am 28.09.10 10:11:55

Konditionen:

20 Sep 2010 XR Book Closing Date 23 Sep 2010

Subscription Period 11 Oct 2010 00:00 - 15 Oct 2010 00:00
Price 50.00 Baht
Ratio 20 : 1

[R-BgO]

Antwort auf Beitrag Nr.: 40.222.688 von schmithi am 28.09.10 12:21:04

also nur geringfügig unter dem Börsenkurs ja?

50/39,30 = 1,26 Euro

[schmithi]

Antwort auf Beitrag Nr.: 40.222.834 von R-BgO am 28.09.10 12:37:29

Ja,

pro 20 alte Aktien kannst Du eine neue Aktie beziehen.

[Giuseppemadoff]

Antwort auf Beitrag Nr.: 40.223.414 von schmithi am 28.09.10 13:46:01

meiner Meinung nach sollte man auch die Transaktionskosten berücksichtigen... da die neuen aktien in Thailand ausgegeben werden.. weis da jemand wie die konditionen sind?? ob es sich da überhaupt lohnt?

[schmithi]

Dividende in Höhe von 0,26 THB für 3 Monate...


Dividend consideration

Subject : Cash dividend payment
Date of Board resolution : 30-Sep-2010
Type of dividend payment : Cash dividend payment
Book closing for the right to receive : 14-Oct-2010
dividend payment
Ex-dividend date : 11-Oct-2010
Dividend payment rate
Common share (baht per share) : 0.26
- Derived from profit under BOI : 0.26
privilege (baht per share)
Par value (baht) : 1.00
Payment date : 21-Oct-2010
Operating period :
From 01-Jul-2010 to 30-Sep-2010

[Grawshak]

Antwort auf Beitrag Nr.: 40.227.228 von Giuseppemadoff am 28.09.10 20:53:05

Hallo Giuseppemadoff,

das habe ich mir auch überlegt.

Lt. meiner dt. Bank kommen "normale" Gebühren abhängig vom Wert (mindestens 2,50 EUR , höchstens 65 EUR)...

50 Baht je Aktie, zur Zeit also ca. 1,22 EUR. Ich werde versuchen noch ein paar Aktien über dem mir zustehenden Anteil zu bekommen.

Gruß
grawshak

[Giuseppemadoff]

hi,

bist du immer noch der Meinung das es mit Thai UNion die nächste Zeit weiter bergauf geht?? zur zeit sackt sie ja ziemlich ab :-( meinst du das liegt an der Kapitalerhöhung?? bin noch am überlegen ob ich auch aktiv an der Kapitalerhöhung teilnehmen werde

viele grüße

giuseppe

[Grawshak]

Antwort auf Beitrag Nr.: 40.263.690 von Giuseppemadoff am 05.10.10 09:18:03

leider kann ich da auch nix neues schreiben. Prinzipiell haben Du und schmithi es im Lapamita-Thread auf den Punkt gebracht.

Ich werde an der Kapitalerhöhrung teilnehmen. Langfristig gehe ich von grünen Vorzeichen aus - sonst würde ich das ja nicht machen. (entspricht der Meinung Deines Posts vom 08.09.10 21:57:40)

Jeder handelt auf eigene Gefahr, und vlt. ärgere ich mich wenn´s in drei Wochen die Aktie für 1,10 an der Börse gibt und ich 1,20 gezahlt habe....
Naja, bleibt nur: nicht alles auf einmal zu investieren - sondern im Rahmen

Gruß
grawshak

[R-BgO]

Seafood giant tuf stretching its global reach to Europe

* Published: 15/10/2010 at 12:00 AM
* Newspaper section: Business

Thai Union Frozen Plc (TUF) was founded in 1988 to process and export frozen seafood with initial capital of 25 million baht. Today, it is the world's second-largest tuna processor and is completing the acquisition of a major European company. President Thiraphong Chansiri discusses the company's strategy and outlook.

‘‘The fall of the euro over the past year gave us a 20% discount on our acquisition costs in baht terms,’’ says Mr Thiraphong.
BUSINESS:

Please explain TUF's business model.

Fifteen years ago, TUF was already one of the leading contract seafood processors in Thailand but today also owns leading canned seafood brands in the US (Chicken of the Sea), Southeast Asia (Sealect) and China (Century). It is about to complete the acquisition of MWBrands, which owns leading shelf-stable seafood brands in Europe - John West, Petit Navire, Hyacinthe Parmentier and Mareblu. Despite our Thailand base, we are a global seafood company by any standard. Our production facilities are in Thailand, Vietnam, Indonesia and the US, and we'll have more through MWBrands, which owns facilities in the Seychelles, Ghana, Portugal and France. With these plants, we'll be able to source raw materials from all major fishing grounds.

How will the acquisition of MWBrands affect TUF and its business structure?

Before the acquisition, our revenue share from the US was 50%, Europe 11-13% and Japan 10%, with the rest of the world for the balance. Europe, collectively, is the largest market for canned seafood in the world. However, it has been a weak spot for us due to various trade barriers on imports. After the acquisition, a third of our revenue will come from the US, another third from Europe and the remainder from the rest of the world. MWBrands will be a platform for our future growth in Europe, Russia and parts of northern Africa.

How important are brands to TUF's business?

We believe in the power of brands but are also the world's largest contract canned tuna manufacturer, so our strategy is to grow both our brand and our private label business, especially with supermarket brands exhibiting significant growth.

Does TUF control the entire supply chain, from sourcing to distribution?

We are involved in all parts of our supply chain through either partnership or direct ownership.

Where does TUF see the most growth potential for its products today, and how is the company progressing towards those markets?

The growth strategy for TUF is straightforward - new products, new markets and new business, including M&As.
INDUSTRY:

What differentiates TUF from its competitors?

Brands represent reputation, quality and consistency, so consumer knows what to expect, and TUF, as a brand owner/supplier, must deliver on this. Supermarkets carry thousands of items and do not have the time or resources for any specific one. So it is up to the supplier, like us, to provide variety, initiatives and new ideas.

With increasing volatility in agricultural prices, how is TUF able to manage operations effectively?

We buy our raw materials four to six weeks ahead and sell four to six weeks ahead.

How will TUF mitigate foreign governments implementing tariffs on imports?

Tariffs and FTAs are issues for the whole industry. The US, though the largest market for Thailand, still applies a fairly high duty on imported canned tuna at 12.5%, while the EU has the highest rate at 24%. Japan's, thanks to the FTA with Thailand, will disappear in a few years. We must learn to operate efficiently in this environment. With the acquisition of MWBrands, the high EU import duty ironically becomes a positive for us.
FINANCIAL PERFORMANCE:

Given that half of TUF's sales are generated from the US, how does TUF manage the strengthening baht?

Our US subsidiaries produce and distribute within their market; their revenues and costs are thus mainly in dollars. Their risks related to a strengthening baht are indeed limited. But there will be a limited impact from the translation effect to the Thai parent company. The strong baht is indeed positive to our investment in Europe. The fall of the euro over the past year gave us a 20% discount on our acquisition costs in baht terms.MISCELLANEOUS:

What do you feel are the biggest risks facing your business today?

The most farfetched risk is that the world runs out of fish. Realistically, the risks we face are mostly the volatility of raw material prices, foreign exchange rate movements and human resources. Today, our challenge is to improve our people and organisation for the new acquisition when we will have to manage operations spanning three continents.

Where do you see TUF five years from now?

We're driven by targets. I initially set a US$3-billion sales goal by 2012, but with this acquisition we'll be ahead of plan. Our next target is to achieve $4 billion by 2015. There remain areas for growth despite our strong global presence. For instance, the Middle East presents good potential for our tuna products, while Africa is equally interesting, given our fast-growing sardine business.

[schmithi]

Preis der neuen Aktien liegt bei 53 Baht.

Quelle: http://www.set.or.th/dat/prsnews/news/0450NWS261020101331070…

Ref. 59/531026
Date: October 26, 2010
Subject: Determination of the private placement price from capital increase which allotted to private
placement investors.
Attention: Director and Manager
The Stock Exchange of Thailand
As the Board of Directors of Thai Union Frozen Products Public Company Limited (the "Company") as at
8 September 2010 has authorized Mr. Thiraphong Chansiri and/or Mr. Chan Tin King together with
Bualuang Securities Public Company Limited to determine period and manage the shares allocation to
private placement investor(s).
The Company would like to inform that the Company has determined the period of shares allocation to
private placement investor(s) on 18-22 October 2010 and the private placement price which determined by
the book-building process is at Baht 53 per share.
Please be informed accordingly and kindly disseminate the information herein to investors.
Respectfully yours,
Mr. Kraisorn Chansiri, Director
Mr. Chuan Tangchansiri, Director

[Grawshak]

Antwort auf Beitrag Nr.: 40.388.840 von schmithi am 26.10.10 08:58:37

Hi,

wurden mir vergangenen Freitag für umgerechnet 50 Baht eingebucht.

Gruß,
grawshak

[schmithi]

Antwort auf Beitrag Nr.: 40.433.399 von Grawshak am 02.11.10 08:09:22

Hi Grawshak,

ja die Aktien für die Altaktionäre wurden auch für 50 THB verkauft.

Das ist der Preis für die neuen Aktien die über den Kapitalmarkt verkauft wurden.

Siehe hier auch die Meldung...

http://www.set.or.th/dat/news/201010/10036668.pdf

Gruß
Schmithi

[Giuseppemadoff]

Hi Leute,

weiss jemand von euch warum TUF so absackt zur zeit?? Konnte im Internet nichts dazu finden, würde mich mal echt interessieren.

Freundliche Grüße

Giuseppe

[R-BgO]

Antwort auf Beitrag Nr.: 41.109.214 von Giuseppemadoff am 25.02.11 18:43:10

BANGKOK, March 1 (Reuters) - Thai Union Frozen Products (TUF), the world's biggest canned tuna maker, reported on Tuesday weaker-than-expected fourth-quarter earnings.

TUF, which makes the 'Chicken of the Sea' brand and counts WalMart and Costco among its buyers, said October-December net profit was 352 million baht ($11.51 million), down from 718 million baht a year earlier and below 817 million in the third quarter.

The result missed an average net profit forecast of 869.5 million baht, according to Thomson Reuters I/B/E/S.

Full-year net profit of 2.87 billion baht was lower than the 3.34 billion baht net profit of a year earlier.

Analysts expect a strong 2011 and say the $884 million acquisition of MW Brands Holdings puts TUF on the path to becoming the world's biggest seafood company.

The company has said its 2011 revenue and net profit would grow at least 30 percent thanks to the acquisition of the leading European canned seafood firm.

TUF shares fell 9.1 percent in the October-December quarter, versus a 5.9 percent gain in the main Thai stock index.

($1=30.57 Baht)

[R-BgO]

TUF hat sich bisher für mich sehr zufriedenstellend entwickelt; im Moment gibt es schon wieder eine KE die ich wie alle bisherigen mitzeichnen werde...

[R-BgO]

nochmals aufgestockt

[Grawshak]

Antwort auf Beitrag Nr.: 44.303.763 von R-BgO am 26.03.13 13:04:46

...ein bisschen zu spät für die 1 THB - Dividende. Aber die nächste kommt bestimmt

übrigens:

TUF allots B18bn for expansion
Published: 5 Mar 2013

Thai Union Frozen Plc (TUF) is doubling its annual capital expenditure to 6 billion baht per year over the next three years to expand its production capacity and penetrate more Asean markets.

...

http://www.bangkokpost.com/business/economics/338808/tuf-all…


Gruß,
grawshak

[R-BgO]

jetzt 2 Jahre eher seitwärts...

[R-BgO]

4:1 Split erfolgt

[R-BgO]

Thread: Thai Union Frozen - neue WKN nach Split