Tate & Lyle - 500 Beiträge pro Seite

[R-BgO]

Tate & Lyle is a global provider of distinctive, high quality ingredients and solutions to the food, beverage and other industries

Through our large-scale, efficient manufacturing plants, we use innovative technology to turn raw materials into distinctive, high quality ingredients for our customers. These ingredients add taste, texture, nutrition and increased functionality to products that millions of people around the world use or consume every day.

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Zweiter Versuch:

recht profitabel, aber teuer

[R-BgO]

Antwort auf Beitrag Nr.: 53.456.793 von R-BgO am 11.10.16 23:22:06

3,8% Dividendenrendite

[R-BgO]

Antwort auf Beitrag Nr.: 53.456.793 von R-BgO am 11.10.16 23:22:06

Thread: SOCIETE GENERALE (SOCGEN) belässt Tate & Lyle auf 'Buy'

[dackelbert]

Antwort auf Beitrag Nr.: 53.456.808 von R-BgO am 11.10.16 23:27:21

Bin hier im September mal eingestiegen, Tausch von Agrana. Timing war nicht optimal, auch bewertungstechnisch wäre ich eher bei Agrana geblieben. Ich habe aber einen ganze Reihe Ösi-Aktien und bis dato keine von der Insel, mein Beweggrund war insofern eher geographische Streuung. Vielleicht profitieren sie von der Pfund-Abwertung, sind in den Staaten ganz gut unterwegs. Aber auch Agrana dürfte vom Dollar-Anstieg profitieren.

[R-BgO]

aufgestockt

[R-BgO]

Tate & Lyle plc: Barbarians At The Gate?
By Guest Post on September 26, 2017
https://www.valuewalk.com/2017/09/tate-lyle-plc-barbarians-g…

In addition to following activist investors and their investment targets, many investors ask the question if

...


Take the case of Tate & Lyle plc: company's share price returned -5.5% during past five years, compared to a positive +24.8% return on FTSE 100 Index (excluding dividends). I think that there is a high chance that in current market environment, a company such as Tate & Lyle plc will go unnoticed by radar's of activist investors or large hedge funds. It operates in the relatively stable segment of ingredients for consumer goods (food), it is a relatively large company, it does not have a lot of debt, free cash flow is attractive, and its share price has been stagnating over past five years, significantly underperforming general market index (FTSE 100). All these make the company highly likely (in my view) to become a target of activist investor or a possible merger or acquisition target.

Company profile

Tate & Lyle is a global provider of ingredients and solutions to the food, beverage and other industries, with operations at more than 30 facilities worldwide.

Tate & Lyle operates through two global divisions, Speciality Food Ingredients and Bulk Ingredients. Speciality Food Ingredients consists of three platforms: Texturants, which includes speciality starches and stabilisers; Sweeteners, which comprises nutritive sweeteners and a range of no-calorie sweeteners including SPLENDA® Sucralose; and Health and Wellness portfolio which includes speciality fibres and salt-reduction offering. Additionally, Food Systems business provides a wide variety of blended ingredient solutions.

Tate & Lyle Bulk Ingredients includes bulk sweeteners, industrial starches and fermentation products (primarily acidulants). Corn co-products from both divisions are primarily sold as animal feed.

Valuation narrative

Tate & Lyle plc currently has a market cap of GBP 2,904 million, net debt of GBP 452 million, and enterprise value of GBP 3,356 million. During last fiscal year, EBITDA was GBP 470 million (pre-exceptional EBITDA, company's annual report). This values the company at an EV/EBITDA multiple of x7.14. Adjusted free cash flow (company's annual report) equaled GBP 174 million, which values the company at a P/FCF multiple x16.7 or a FCF Yield of 6%. Current dividend yield (2016) is 4.5%.

If Tate & Lyle plc will continue to generate similar annual free cash flow over next three years, it will generate a total free cash flow of GBP 522 million. Applying x12 EV/EBITDA valuation multiple to company’s EBITDA would value company’s equity in three years at GBP 5,710 million or GBP 12.26 per share. This target price provides a potential upside of 97% from current share price.

We believe that Tate & Lyle plc's shares provide an attractive investment opportunity for long-term, value-oriented investors.

[dackelbert]

Antwort auf Beitrag Nr.: 55.834.155 von R-BgO am 27.09.17 14:29:25

...ganz meine Meinung. Ich hatte zwar ein wenig in Agrana zurückgetauscht, und halte nun beide --
und finde beide eher günstig. Die Dividenden nahe 4% entschädigen für das Warten.

[R-BgO]

aufgestockt

[haowenshan]

ein paar Notizen für mich:
historisch Zuckerraffinerie (verkauft), nun Stärke(veredelung) (aus Mais) -> Süßstoffe, versch. modifizierte Stärken, Fasern (Ballaststoffe) [Nahrungsmittelzusatzstoffe]
Commodities: Industriestärke, Sirup, Zitronensäure

Wettbewerber: Roquette (FR - privat), Ingredion und teilweise Agrana, Jungblunzauer (Zitronensäure)

über Stärke (vom Agrana Chef)
https://www.lko.at/media.php?filename=download%3D%2F2015.05.…
Watchlist

[haowenshan]

Antwort auf Beitrag Nr.: 59.255.248 von haowenshan am 20.11.18 09:04:56

und nochwas über Stärke gefunden

[R-BgO]

aktuelles KGV rund 19