ebdem Oktober 28, 2016 Über das Unternehmen Zitat Judges Scientific plc is an AIM-listed company specialising in the design and production of scientific instruments. Corporate expansion is being pursued, both through organic growth within its subsidiary companies and through the acquisition of top-quality businesses with established reputations in world-wide markets. Quelle Jugdes Scientific kauft Unternehmen zu. Hier eine Liste der existierenden Geschäfte: Zitat Aitchee Engineering Established for over 40 years and now a subsidiary of Fire Testing Technology, Aitchee provides high-quality metalwork both to companies within the Judges group and for third party customers in a variety of other industrial sectors. Services include the provision of metal components & casings, fabrication and bespoke engineering solutions. Armfield Armfield designs and sells engineering teaching instruments used by universities and technical colleges. The range of disciplines is extensive and includes chemical, mechanical, environmental and civil engineering and food technology. CoolLED Deben UK Deben designs, manufactures and sells devices used to enable or improve the observation of objects under a microscope. The principal product groups are motor control systems, micro-tensile stages, cooling stages, digital imaging for electron microscopes and beam blanking equipment. The products are sold world-wide to OEM customers (microscope manufacturers that incorporate such equipment in their own instruments) or directly to end users such as universities. Dia-Stron Fire Testing Technology FTT is the world leader in the manufacture of instruments designed to measure the reaction of a variety of materials to fire. GDS Instruments GDS designs, manufactures and sells instruments used to test the physical properties of soil and rocks. The products are sold worldwide to academic institutions and commercial customers conducting geotechnical research or providing testing services in relation to large civil engineering projects. PE.fiberoptics PE.fiberoptics is a leading provider to the telecommunications industry of a wide range of specialised equipment designed to test the properties of fibre optic and fibre optic networks. Quorum Technologies Quorum designs, manufactures and distributes instruments that prepare samples for examination in electron microscopes through coating or "cryo" processes. Applications for the technology are to be found in all the life and materials sciences, as well as cutting-edge industrial technologies such as semiconductor production. Scientifica Scientifica specialises in supplying innovative superior products to electrophysiology and imaging researchers. Electrophysiology is the measure and study of electrical properties of individual cells; these areas of research contribute to advances in understanding the nervous and cardiac systems, particularly degenerative diseases including Dementia, Alzheimers, Parkinsons and Epilepsy. Sircal Instruments Sircal designs, manufactures and distributes rare gas purifiers for use in metals analysis utilising the Arc/ Spark spectrometry technique. This technique provides qualitative and quantitative analysis of a metallic sample. UHV Design UHV Design specialises in the development and manufacture of instruments used to create motion, heating and cooling within ultra-high vacuum chambers. Chart Der Kurs ist steil angestiegen und um 50% zurückgekommen. Kennzahlen Morningstar 4traders Judges Scientific Die Zahlen finde gut. Der Umsatz konnte gut gesteigert werden. Die operative Marge ist stabilpositiv. Das EPS war trotz des Wachstums fast immer positiv. Es wird auch Dividende gezahlt, wobei ich noch nicht ganz verstehe warum. Die Aktienanzahl ist um 50% gestiegen. Die Buchwertsteigerung gefällt mir. Das sind die Segmentergebnisse: Das ist das Ergebnis nach Regionen: Strategie Auszug aus dem Geschäftsbericht 2015: Zitat Develop the Group through a “buy-and-build” programme of carefully structured acquisitions, supported by long-term organic individual business development. Target companies need to meet exacting performance criteria that supports sustainable sales, profits and cash generation. Core value is created through the repayment of debt used to acquire target companies and organic sales growth. The scientific instrument sector is a robust market, supporting long-term organic growth and cashflow generation, underpinned by long-term global drivers, based on growth in higher education and the industrial push to improve optimisation, which requires measurement. The UK is a recognised worldwide centre of excellence for scientific instrument development and manufacture, placing us in a good position to consolidate and support a fragmented market, characterised by over 2,000 privately held businesses in the UK alone. Zitat The Group’s strategy is based on creating shareholder returns through highly selective and carefully structured acquisitions, underpinned by solid and consistent earnings and cash flows arising from our acquired businesses. The Group’s acquisition model is to acquire small/medium sized scientific instrument companies, paying a disciplined multiple of earnings and to finance any acquisition generally through existing cash resources and/or the Group’s revolving acquisition facility. We are highly selective in acquiring businesses with long-term sustainable profits and cash flows which then result in immediate and long-term earnings enhancement for our shareholders. It is paramount that acquisitions are completed only when the Directors are satisfied that the target business has sound long-term strength. As our Group grows it is then able to pay down the acquisition debt more rapidly, making space to reinvest in further acquisitions, subject to our prudent approach on gearing. The underlying market for scientific instruments remains robust and the sector’s long-term growth drivers provides comfort that the Group will continue to deliver strong long-term returns for shareholders. Market drivers are based on expanding higher education and the continued worldwide drive across science and industry for improved measurement and optimisation. Kunden Zitat 60% of customers are Universities, 10% are testing firms and the rest are a diverse group of researchers from pharma, biotech, commercial and industrial backgrounds. Quelle: Präsentation Polleit und Reichert Nachrichten Finanznachrichten Google Weitere Analysen Expecting Value Frank Weiper Return and Journey Polleit und Reichert Bewertung Meine Einschätzung Auf das Unternehmen bin ich durch die Präsentation von Polleit und Reichert gestoßen. Ich bitte euch mal einen Blick da rein zu werfen. Sie sind der Frage nachgegangen, ob Judges ein großartiges Business sein könnte (Definition siehe ppp): Für mich klingt die Einschätzung zu Judges durchaus so interessant, dass ich die Aktie hier weiter diskutieren will. Das Unternehmen hat unter Beweis gestellt, dass es sein Kapital sehr sinnvoll investieren kann. Es gibt Chancen durch schlaue Zukäufe langfristig zu wachsen. Aber das Geschäftsmodell hat auch seine Limitierungen. Wiederkehrende Umsätze fehlen. Die Hauptabhängigkeit des Geschäftsmodells besteht von der öffentlichen Hand. Das kann - insbesondere in Zeiten von Austerität - zu rückschlägen führen. Was meint ihr? 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