Bucyrus - Minenausrüster - 500 Beiträge pro Seite
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25.04.2010
Bucyrus, Joy Global und SMT Scharf: Sichere Sieger
Markus Bußler
Die Wirtschaft springt wieder an und der Hunger nach Rohstoffen wächst. Davon profitieren vor allem die Zulieferer der Minen und Bergwerksbetriebe. Die Gewinne dürften in den kommenden Jahren wieder deutlich steigen.
Aus der Geschichte kann man lernen: Als sich in der zweiten Hälfte des 19. Jahrhunderts in Amerika der Goldrausch ausbreitete, waren es nur wenige Goldgräber, die wirklich fündig und reich wurden. Die wirklichen Gewinner des Goldrausches saßen in den Städten und Dörfern und belieferten die Goldgräber mit dem richtigen Werkzeug.
Auch heute, 150 Jahre später, boomen die Geschäfte der Firmen, die die Bergbaubetriebe ausrüsten. Die immer komplexer werdenden Förderbedingungen verlangen noch bessere Werkzeuge für die Grabungen und den Transport der Rohstoffe . Experten schätzen beispielsweise alleine den jährlichen Markt für die untertätige Transporttechnik auf fünf bis sieben Milliarden Euro.
Marktführer mit KGV 9
Von dieser Entwicklung profitiert der Spezialist für entgleisungssichere Bahnsysteme, SMT Scharf. Das Unternehmen ist mit einem Weltmarktanteil von 45 Prozent Marktführer und konnte den Umsatz im vergangenen Jahr trotz Finanzkrise um sieben Prozent steigern. Der Grund: SMT Scharf tätigt einen Großteil seiner Umsätze in Südafrika und China und will hier auch weiter expandieren. Mit einem 2011er-KGV von 9 ist die Aktie nach wie vor günstig bewertet. Zudem winkt eine Dividende von 0,70 Euro für das abgelaufene Jahr. Der Vorstand will schon bald ein neues Aktienrückkaufprogramm starten.
Mit einem Gewinnsprung von 24 Prozent überrascht der US-amerikanische Hersteller von Geräten und Ausrüstung für die Minenbetriebe, Bucyrus, im vierten Quartal den Markt. Das Geschäft des nach eigenen Angaben führenden Lieferanten von Bergbaumaschinen erwies sich als erstaunlich resistent gegen die Krise. Die Gründe: Das Unternehmen hat im besonderen Maße von den Konjunkturprogrammen in China profitiert. In den Folgequartalen sollte sich auch die Übernahme des Bergbaugeschäfts der Terex Corporation positiv bemerkbar machen. "Wir werden unseren Markt geographisch ausdehnen und unser Produktprogramm über eine breitere Palette von Rohstoffen diversifizieren," kündigte Konzernchef Tim Sullivan an. Die Analysten bei Goldman Sachs sind begeistert von diesem Unternehmen, sie haben die Aktien auf ihre viel beachtete Conviction Buy-List gesetzt.
Immer wieder begegnet man dem Schlagwort "Emerging Markets", doch was verbirgt sich dahinter? Dieser Crashkurs gibt eine Einführung ins Thema. Nach der Lektüre ist jeder Leser in der Lage, selbst erfolgreich in den Emerging Markets zu investieren.
Kohle abbauen, Kohle scheffeln
Ebenfalls stark Richtung China hat sich in den vergangenen Jahren der Bergwerksausrüster Joy Global orientiert. Zwar sind die USA noch immer der wichtigste Markt für den Konzern, doch vor allem der Absatz in den asiatischen Ländern wuchs in den vergangenen beiden Jahren um mehr als 20 Prozent.
Die Kundenbasis des Konzerns stammt vorwiegend aus dem Kohlesektor. Da sich die Weltwirtschaft langsam wieder erholt, zieht auch der Kohlepreis deutlich an. Die Förderung von Kohle wird jedoch zunehmend aufwändig - die Maschinen von Joy Global dürften daher in Zukunft noch gefragter sein. Zudem bietet das Unternehmen als zusätzliches Standbein auch Seminare an, in denen Minenarbeiter im Umgang mit hocheffizienter Fördertechnik geschult werden.
Auf die Konjunkturerholung setzen
Die anziehende Weltwirtschaft führt zu einer steigenden Rohstoff -Nachfrage. Das wird zu höheren Investitionen der Minenbetreiber führen. Mit den vorgestellten Aktien profitieren Anleger von diesem Trend. bus
Bucyrus, Joy Global und SMT Scharf: Sichere Sieger
Markus Bußler
Die Wirtschaft springt wieder an und der Hunger nach Rohstoffen wächst. Davon profitieren vor allem die Zulieferer der Minen und Bergwerksbetriebe. Die Gewinne dürften in den kommenden Jahren wieder deutlich steigen.
Aus der Geschichte kann man lernen: Als sich in der zweiten Hälfte des 19. Jahrhunderts in Amerika der Goldrausch ausbreitete, waren es nur wenige Goldgräber, die wirklich fündig und reich wurden. Die wirklichen Gewinner des Goldrausches saßen in den Städten und Dörfern und belieferten die Goldgräber mit dem richtigen Werkzeug.
Auch heute, 150 Jahre später, boomen die Geschäfte der Firmen, die die Bergbaubetriebe ausrüsten. Die immer komplexer werdenden Förderbedingungen verlangen noch bessere Werkzeuge für die Grabungen und den Transport der Rohstoffe . Experten schätzen beispielsweise alleine den jährlichen Markt für die untertätige Transporttechnik auf fünf bis sieben Milliarden Euro.
Marktführer mit KGV 9
Von dieser Entwicklung profitiert der Spezialist für entgleisungssichere Bahnsysteme, SMT Scharf. Das Unternehmen ist mit einem Weltmarktanteil von 45 Prozent Marktführer und konnte den Umsatz im vergangenen Jahr trotz Finanzkrise um sieben Prozent steigern. Der Grund: SMT Scharf tätigt einen Großteil seiner Umsätze in Südafrika und China und will hier auch weiter expandieren. Mit einem 2011er-KGV von 9 ist die Aktie nach wie vor günstig bewertet. Zudem winkt eine Dividende von 0,70 Euro für das abgelaufene Jahr. Der Vorstand will schon bald ein neues Aktienrückkaufprogramm starten.
Mit einem Gewinnsprung von 24 Prozent überrascht der US-amerikanische Hersteller von Geräten und Ausrüstung für die Minenbetriebe, Bucyrus, im vierten Quartal den Markt. Das Geschäft des nach eigenen Angaben führenden Lieferanten von Bergbaumaschinen erwies sich als erstaunlich resistent gegen die Krise. Die Gründe: Das Unternehmen hat im besonderen Maße von den Konjunkturprogrammen in China profitiert. In den Folgequartalen sollte sich auch die Übernahme des Bergbaugeschäfts der Terex Corporation positiv bemerkbar machen. "Wir werden unseren Markt geographisch ausdehnen und unser Produktprogramm über eine breitere Palette von Rohstoffen diversifizieren," kündigte Konzernchef Tim Sullivan an. Die Analysten bei Goldman Sachs sind begeistert von diesem Unternehmen, sie haben die Aktien auf ihre viel beachtete Conviction Buy-List gesetzt.
Immer wieder begegnet man dem Schlagwort "Emerging Markets", doch was verbirgt sich dahinter? Dieser Crashkurs gibt eine Einführung ins Thema. Nach der Lektüre ist jeder Leser in der Lage, selbst erfolgreich in den Emerging Markets zu investieren.
Kohle abbauen, Kohle scheffeln
Ebenfalls stark Richtung China hat sich in den vergangenen Jahren der Bergwerksausrüster Joy Global orientiert. Zwar sind die USA noch immer der wichtigste Markt für den Konzern, doch vor allem der Absatz in den asiatischen Ländern wuchs in den vergangenen beiden Jahren um mehr als 20 Prozent.
Die Kundenbasis des Konzerns stammt vorwiegend aus dem Kohlesektor. Da sich die Weltwirtschaft langsam wieder erholt, zieht auch der Kohlepreis deutlich an. Die Förderung von Kohle wird jedoch zunehmend aufwändig - die Maschinen von Joy Global dürften daher in Zukunft noch gefragter sein. Zudem bietet das Unternehmen als zusätzliches Standbein auch Seminare an, in denen Minenarbeiter im Umgang mit hocheffizienter Fördertechnik geschult werden.
Auf die Konjunkturerholung setzen
Die anziehende Weltwirtschaft führt zu einer steigenden Rohstoff -Nachfrage. Das wird zu höheren Investitionen der Minenbetreiber führen. Mit den vorgestellten Aktien profitieren Anleger von diesem Trend. bus
Great Expectations for Bucyrus
By Christopher Barker
April 26, 2010 | Comments (0)
Bucyrus (Nasdaq: BUCY) took a strike in its first earnings for 2010, but then proceeded to defiantly call a home run ... like Babe Ruth at Wrigley Field in 1932.
Prevailing expectations for Bucyrus to achieve $0.81 in adjusted EPS proved overly optimistic within a business environment where major purchases are still being deferred wherever possible. The company batted-in only $0.69 per share on an adjusted basis. Sales for Bucyrus' underground mining unit slumped by nearly 29%, which included a nasty 46% decline in that unit's sales of new equipment.
The company fared far better in the surface mining unit, notching an offsetting 28% gain, but that was fueled primarily by the company's transformative acquisition of Terex's (NYSE: TEX) mining equipment unit. Consolidated sales rose almost imperceptibly from the prior-year mark of about $606 million, although it's worth pointing out that the manufacturer's gross margin improved 80 basis points, to 28.9%.
Pointing to the center-field bleachers, Bucyrus issued full-year 2010 revenue guidance of about $3.7 billion. It takes a special swagger, or perhaps just supreme confidence in the gathering strength of the mining industry (as corroborated by rival Joy Global (Nasdaq: JOYG)), to extend a revenue target more than $300 million beyond the expectations of analysts after a swing-and-a-miss like this first-quarter result. For Fools who understand that quarterly results can fluctuate rather wildly in a business of large-scale, low-volume manufacturing, last week's miss need not be a show-stopper.
Slightly healthier than a ballpark frank
Meanwhile, denuded of its bullishly positioned mining equipment segment following the Bucyrus deal, Terex continues to drive in painful operating losses. The asset sale boosted Terex's first quarter earnings by $620 million; or $5.72 per share. Stripping away that welcome injection of liquidity, which raised Terex's cash position to a hefty $1.8 billion, the shrinking giant's operating loss came in at $0.73 per share.
For the first time in a while, however, I can safely say that the news isn't all bad for Terex this time around. For starters, that operating loss from continued operations did mark an almost $20 million improvement over the prior-year hemorrhage. Although net sales continued to decline in three of the company's four segments, the materials processing unit bucked the trend with 31% surge in net sales to $108 million.
Looking to the tell-tale trends in order backlogs, we find those metrics improving across every segment except for cranes (which experienced a 38% contraction). The greatest sequential gains from the fourth quarter of 2009 are visible in backlogs for construction and materials processing equipment; with noteworthy improvements of 64% and 68%, respectively.
All of this data, collectively, supports the widespread observations of moderately improving industrial activity from related bellwether sectors like steelmakers and railroads. Unfortunately, all earnings data emerging from construction-related businesses thus far points to offsetting weakness in these crucial segments of the U.S. and European economies.
The big picture for big equipment
Powerful, long-term trends in global coal demand emerging principally from China and India -- and rapid expansion of production in hotspots like Australia -- should boost equipment demand from the world's primary suppliers: namely Bucyrus and Joy Global.
All of the same ingredients are in place that contributed to the incredible growth these manufacturers experienced before the financial crisis (and coincidental commodity correction) took hold in 2008. An extended period of under-investment and deferred purchasing is setting the stage for an uptick in new orders that I predict will once again extend lead times for heavy mining equipment into a rapidly expanding order backlog. Most of Bucyrus' 18% year-over-year backlog expansion in the first quarter was attributable to the Terex Mining acquisition, but CEO Tim Sullivan avowed that this momentary lag belies the fact that Bucyrus is experiencing "a very high level of activity right now."
As Taseko Mines (AMEX: TGB) CEO Russell Hallbauer pointed out back in 2008, extended lead times for key equipment can wreak havoc on miners by extending project development timelines. I submit that a reemergence of this familiar trend could exert even stronger upward price pressure upon mined materials like coal, copper, and precious metals than we are witnessing already. Coking coal producers mulling the kinds of aggressive production capacity expansions that Peabody Energy (NYSE: BTU) and Teck Resources (NYSE: TCK) have signaled may be well advised to place their equipment orders post-haste.
Of course, looming tightness in equipment supply is music to the ears of Bucyrus and Joy Global the way tightness in commodity supply places miners in a sweet spot. Tossing in Caterpillar (NYSE: CAT) as another noteworthy beneficiary of the trend, I continue to consider the manufacturers of heavy mining equipment exceptionally positioned to profit from this ongoing, multi-year, secular bull market in mined commodities. As far as this Fool can see, that underlying bull market shows no signs of slowing down.
By Christopher Barker
April 26, 2010 | Comments (0)
Bucyrus (Nasdaq: BUCY) took a strike in its first earnings for 2010, but then proceeded to defiantly call a home run ... like Babe Ruth at Wrigley Field in 1932.
Prevailing expectations for Bucyrus to achieve $0.81 in adjusted EPS proved overly optimistic within a business environment where major purchases are still being deferred wherever possible. The company batted-in only $0.69 per share on an adjusted basis. Sales for Bucyrus' underground mining unit slumped by nearly 29%, which included a nasty 46% decline in that unit's sales of new equipment.
The company fared far better in the surface mining unit, notching an offsetting 28% gain, but that was fueled primarily by the company's transformative acquisition of Terex's (NYSE: TEX) mining equipment unit. Consolidated sales rose almost imperceptibly from the prior-year mark of about $606 million, although it's worth pointing out that the manufacturer's gross margin improved 80 basis points, to 28.9%.
Pointing to the center-field bleachers, Bucyrus issued full-year 2010 revenue guidance of about $3.7 billion. It takes a special swagger, or perhaps just supreme confidence in the gathering strength of the mining industry (as corroborated by rival Joy Global (Nasdaq: JOYG)), to extend a revenue target more than $300 million beyond the expectations of analysts after a swing-and-a-miss like this first-quarter result. For Fools who understand that quarterly results can fluctuate rather wildly in a business of large-scale, low-volume manufacturing, last week's miss need not be a show-stopper.
Slightly healthier than a ballpark frank
Meanwhile, denuded of its bullishly positioned mining equipment segment following the Bucyrus deal, Terex continues to drive in painful operating losses. The asset sale boosted Terex's first quarter earnings by $620 million; or $5.72 per share. Stripping away that welcome injection of liquidity, which raised Terex's cash position to a hefty $1.8 billion, the shrinking giant's operating loss came in at $0.73 per share.
For the first time in a while, however, I can safely say that the news isn't all bad for Terex this time around. For starters, that operating loss from continued operations did mark an almost $20 million improvement over the prior-year hemorrhage. Although net sales continued to decline in three of the company's four segments, the materials processing unit bucked the trend with 31% surge in net sales to $108 million.
Looking to the tell-tale trends in order backlogs, we find those metrics improving across every segment except for cranes (which experienced a 38% contraction). The greatest sequential gains from the fourth quarter of 2009 are visible in backlogs for construction and materials processing equipment; with noteworthy improvements of 64% and 68%, respectively.
All of this data, collectively, supports the widespread observations of moderately improving industrial activity from related bellwether sectors like steelmakers and railroads. Unfortunately, all earnings data emerging from construction-related businesses thus far points to offsetting weakness in these crucial segments of the U.S. and European economies.
The big picture for big equipment
Powerful, long-term trends in global coal demand emerging principally from China and India -- and rapid expansion of production in hotspots like Australia -- should boost equipment demand from the world's primary suppliers: namely Bucyrus and Joy Global.
All of the same ingredients are in place that contributed to the incredible growth these manufacturers experienced before the financial crisis (and coincidental commodity correction) took hold in 2008. An extended period of under-investment and deferred purchasing is setting the stage for an uptick in new orders that I predict will once again extend lead times for heavy mining equipment into a rapidly expanding order backlog. Most of Bucyrus' 18% year-over-year backlog expansion in the first quarter was attributable to the Terex Mining acquisition, but CEO Tim Sullivan avowed that this momentary lag belies the fact that Bucyrus is experiencing "a very high level of activity right now."
As Taseko Mines (AMEX: TGB) CEO Russell Hallbauer pointed out back in 2008, extended lead times for key equipment can wreak havoc on miners by extending project development timelines. I submit that a reemergence of this familiar trend could exert even stronger upward price pressure upon mined materials like coal, copper, and precious metals than we are witnessing already. Coking coal producers mulling the kinds of aggressive production capacity expansions that Peabody Energy (NYSE: BTU) and Teck Resources (NYSE: TCK) have signaled may be well advised to place their equipment orders post-haste.
Of course, looming tightness in equipment supply is music to the ears of Bucyrus and Joy Global the way tightness in commodity supply places miners in a sweet spot. Tossing in Caterpillar (NYSE: CAT) as another noteworthy beneficiary of the trend, I continue to consider the manufacturers of heavy mining equipment exceptionally positioned to profit from this ongoing, multi-year, secular bull market in mined commodities. As far as this Fool can see, that underlying bull market shows no signs of slowing down.
Bucyrus May Lose $310 Mln Order As US Exim Bank Rejects Loan Guarantees : WSJ
6/28/2010 6:23 AM ET
(RTTNews) - South Milwaukee, Wisconsin-based mining equipment maker Bucyrus International, Inc. (BUCY: News ) may lose a $310 million order for mining machinery from a subsidiary of Reliance Power Ltd. of India, as the U.S. Export-Import Bank has decided not to provide loan guarantees for the project., the Wall Street Journal reported Saturday.
The US Exim Bank has rejected a request from Reliance Power to provide about $450 million for its $4.5 billion ultra-mega power project in Sasan, Madhya Pradesh, India, on environmental grounds.
The mining equipment was expected to use for a coal mine that is to supply a new power plant in Madhya Pradesh and Bucyrus had estimated the order to create or protect 984 jobs in 13 U.S. states, the report stated.
Quoting Tim Sullivan, CEO of the South Milwaukee mining equipment manufacturer, the report said that the decision is equivalent to "throwing 1,000 jobs in the ditch."
It is said that the board of the Ex-Im Bank voted 2-1 last Thursday against supporting the project, as the bank was required to consider the environmental effects of projects it backs. A member of the bank's board who voted against the guarantees has reportedly said that he voted against because of the "projected adverse environmental impact."
The US Exim Bank had recently established and implemented a carbon policy that requires its board to carefully consider the potentially adverse environmental impact of high-carbon intensity transactions.
According to the Journal, there is no appeals process for votes by the Ex-Im Bank board.
6/28/2010 6:23 AM ET
(RTTNews) - South Milwaukee, Wisconsin-based mining equipment maker Bucyrus International, Inc. (BUCY: News ) may lose a $310 million order for mining machinery from a subsidiary of Reliance Power Ltd. of India, as the U.S. Export-Import Bank has decided not to provide loan guarantees for the project., the Wall Street Journal reported Saturday.
The US Exim Bank has rejected a request from Reliance Power to provide about $450 million for its $4.5 billion ultra-mega power project in Sasan, Madhya Pradesh, India, on environmental grounds.
The mining equipment was expected to use for a coal mine that is to supply a new power plant in Madhya Pradesh and Bucyrus had estimated the order to create or protect 984 jobs in 13 U.S. states, the report stated.
Quoting Tim Sullivan, CEO of the South Milwaukee mining equipment manufacturer, the report said that the decision is equivalent to "throwing 1,000 jobs in the ditch."
It is said that the board of the Ex-Im Bank voted 2-1 last Thursday against supporting the project, as the bank was required to consider the environmental effects of projects it backs. A member of the bank's board who voted against the guarantees has reportedly said that he voted against because of the "projected adverse environmental impact."
The US Exim Bank had recently established and implemented a carbon policy that requires its board to carefully consider the potentially adverse environmental impact of high-carbon intensity transactions.
According to the Journal, there is no appeals process for votes by the Ex-Im Bank board.
July 23 (Reuters) - Bucyrus International Inc:
* Says maintains full year revenue and adjusted EBITDA outlook - conference
call
* Says to raise full year capex forecast to between $70 million-$80 million
from $60 million-$65 million level
* Sees to have about $280 million in cash on balance sheet for the year
* Says cautiously optimistic that might be be able to put reliance booking in
backlog in Q3
* Says reliance order can potentially relate to $70 million-$90 million worth
of shipments and revenue in Q4
* Says maintains full year revenue and adjusted EBITDA outlook - conference
call
* Says to raise full year capex forecast to between $70 million-$80 million
from $60 million-$65 million level
* Sees to have about $280 million in cash on balance sheet for the year
* Says cautiously optimistic that might be be able to put reliance booking in
backlog in Q3
* Says reliance order can potentially relate to $70 million-$90 million worth
of shipments and revenue in Q4
Bucyrus shareholders approve acquisition by Caterpillar
The Business Journal
Date: Friday, January 21, 2011, 1:22pm CST
Shareholders of Bucyrus International Inc. of South Milwaukee have approved the company's acquisition by equipment manufacturing giant Caterpillar Inc.
Mining equipment manufacturer Bucyrus said 99.7 percent of the total shares voted approved the deal with Peoria, Ill.-based Caterpillar (NYSE: CAT), which has agreed to buy Bucyrus (NASDAQ: BUCY) for $92 per share in a transaction that is valued at $8.6 billion, including debt.
The deal is expected to close in mid-2011. Caterpillar said it will maintain its mining equipment headquarters in the Milwaukee area.
Read more: Bucyrus shareholders approve acquisition by Caterpillar | The Business Journal
The Business Journal
Date: Friday, January 21, 2011, 1:22pm CST
Shareholders of Bucyrus International Inc. of South Milwaukee have approved the company's acquisition by equipment manufacturing giant Caterpillar Inc.
Mining equipment manufacturer Bucyrus said 99.7 percent of the total shares voted approved the deal with Peoria, Ill.-based Caterpillar (NYSE: CAT), which has agreed to buy Bucyrus (NASDAQ: BUCY) for $92 per share in a transaction that is valued at $8.6 billion, including debt.
The deal is expected to close in mid-2011. Caterpillar said it will maintain its mining equipment headquarters in the Milwaukee area.
Read more: Bucyrus shareholders approve acquisition by Caterpillar | The Business Journal
Trading Spotlight
Antwort auf Beitrag Nr.: 40.906.377 von R-BgO am 21.01.11 23:30:54Squeeze-out gelaufen; over and out
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