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25-07-2013, 05:43 AM
(22-07-2013, 02:03 PM)zz... Wrote:(20-07-2013, 02:45 PM)GreedandFear Wrote: Can anyone help me quantify what proportion of the Aluminium segment's sales is for refrigerated containers as opposed to work for HDB ? With this company, I don't have a good handle on how each of the two businesses are doing given that they are reported under tge same segment....
can't find any breakdown in its ARs, if it's substantial amount then it could be its biggest risk if they lose revenue from carrier, plus its cyclical business nature, these could be the reasons for cheap valuation now, got to wait for people's risk appetite increases before any good valuation on the business.
New to the board and investing in Singapore stocks overall. A few questions:
1) Has it ever been publicly disclosed that Carrier Transicold is the refrigeration customer? If so, can someone point me to the PR or filing?
2) Going back to the split in the aluminum business between HDB construction & the refrig business. The last two quarterly reports blame the revenue decreases on weakness in Europe - since the HDB/construction market is local, doesn't this imply that "Europe" would mean the refrig business?
2a) Q1 2013: Sales fell sharply but GM% was up 260bps due to mix shift. Sales decrease due to weakness in Europe (i.e. refrig, if Europe = refrig). Therefore , HDB has higher margins than refrig?
3) Trying to reconcile the #s from the spreadsheet posted earlier in the thread. Where are Carrier Transicold's profit & loss figures pulled from?
4) Also, I was searching through the hdb.gov.sg annual reports to find HDB statistics. "Units Completed" would be a lagging indicator for NamLee though right? (since they company would have already sold its products). Therefore, the trend in "Units Under Construction" or "Units Awarded" would be a better leading indicator of future profits right?