#XPD ''Cash rich, asset light'' - Xpediator has issued a COVID-19 related trading update. The key messages are reassuring: the business has a strong balance sheet and is asset light, trading is in line with internal budgets and the group has begun to see activity returning from its Chinese customers following an understandably difficult January and February. We are encouraged by the comprehensive review of costs, the resilient trading to date, a healthy cash buffer, and the underlying confidence shown in still proposing a final dividend for 2019. Trading YTD is broadly in-line with internal expectations, albeit with some areas performing better than others. Freight Forwarding across Europe and Pall-Ex Romania look to have exceeded expectations. Other units such as EMT, which specialises in textiles and fashion, are struggling and revenues from Chinese customers fell sharply in the first ten weeks of the year. The Group benefits from being asset light, in effect acting as a broker with limited overheads and few vehicles owned. And the level of net cash outstanding at the 2019-year end has been reconfirmed at a healthy £6.9m. Not only does the cash provide a degree of comfort, but management has confirmed its intention to pay a final dividend for 2019, highlighting confidence. Notwithstanding the temporary suspension of estimates, we see the net cash level (worth 23% of the market capitalisation) and the historic NAV of 22p per share both underpinning the stock in the current challenging climate. - click here for note:
Xpediator Plc #XPD announced that it intends to publish its audited final results for the year ended 31 December 2019 in April 2020 and expects to report turnover increasing 19% to £212 million (2018: £179.2 million) and profit before tax slightly above £5.0 million. Trading in the first three months of 2020 has been in line with our expectations. As at 31 December 2019, the company had net cash of £6.9 million (unaudited) and has sufficient headroom within the business to manage anticipated working capital requirements. In addition, it is conducting a comprehensive review of its business and have reduced costs in specific areas where activity levels have fallen or are likely to reduce as a result of the disruption caused by COVID-19. Cost savings are expected to come from furloughing staff, agreeing temporary pay reductions and reducing other overheads. The Board are confident Xpediator is well placed to manage its financial and commercial commitments during this extraordinary time and can emerge wellpositioned for growth when market conditions return to normality. The Board continue to intend to propose a final dividend for the year ended 31 December 2019, but the amount is yet to be determined given the fundamental uncertainties that currently exist in the market. The Board is closely monitoring the situation across the business and will make further announcements as and when appropriate.
Xpediator, a leading provider of freight management services across the UK and Central and Eastern Europe provides the following update on how the Company is responding to the COVID-19 pandemic.. While it is hard to make any predictions under these extraordinary circumstances, based on very recent trends, the Board believes that demand for our freight...
Xpediator, a leading provider of freight management services across the UK and Central and Eastern Europe provides the following update on how the Company is responding to the COVID-19 pandemic.. While it is hard to make any predictions under these extraordinary circumstances, based on very recent trends, the Board believes that demand for our freight...
#XPD - ''Planning ahead and removing bottlenecks'' - Xpediator has announced the signature of a 20-year lease with AB Ports from Q1 2021 to expand its presence significantly in the Port of Southampton. The new facility will allow the business to improve profit margins on customer stock held at peak times within third-party warehousing and provide the capacity to widen its customer base further. Once the facility is both operating efficiently and at high capacity levels, the expected uplift to profitability will be marked from 2022 onwards. It will increase the business’ presence in and around the Port of Southampton by 46%, and warehousing within the Group by a chunky 34% to 790,000 sq ft in total. The agreement will ‘future proof’ the ISL business, enabling it to meet peak demand levels and provide expansionary growth. Current peak demand levels are filling the existing Group capacity, and in 2018 and 2019 the excess was fulfilled via external warehousing, thereby reducing the capacity for growth in the future. Initially, there are cost implications to the new facility, with management of the opinion that it is likely to take several months to fill the site. A factor in that is because ISL is very active in the toy industry and generates peak demand in the August to November period. But we then see an anticipated uplift in revenues from the new facility of c. £12.5m from 2022. One should then expect an improvement in margins, highlighting the reduced need for external warehousing. At a conservative operating margin of 6.4% before central costs, the new facility should add c. £0.8m per annum to EBITA from 2022. We leave estimates unchanged, as is our fair value per share at 48p. At the end of FY19, we anticipate that net cash amounted to 20% of the Group’s market capitalisation, placing the current rating on a cash adjusted FY20 PER of just 6.8x. - For full note click here:
Xpediator, a leading provider of freight management services across the UK and Central and Eastern Europe is pleased to announce that its subsidiary, Import Services, the Southampton based port centric logistics company, has signed a 20 year lease with Associated British Ports for a new 200,000 sq ft distribution centre at Southampton's Container Port.
Xpediator Plc #XPD announced that the company confirms the appointment of Robert Ross to the board. Mr Ross does not hold any ordinary shares in the capital of the company.
RNS Number: 2714 D Xpediator PLC 18 February 2020 18 February 2020. Further to the Company's announcement dated 13 November 2019, Xpediator is pleased to confirm the appointment of Robert Ross to the board of the Company, and provides the following disclosures in accordance with Schedule 2 of the AIM Rules for Companies:. RNS is approved by the Financial Conduct...
#XPD - 'Out with the old ..' - 2019 proved successful on several measures, not least organic revenue growth, cash generation, the performance of the Baltic operations and the turnaround of Benfleet. That said, management is likely to be glad that a challenging year is over. It has taken swift action where required, reducing the cost base and upgrading the Board. The Group is trading in-line with revised expectations, with year-end net cash levels some way ahead of our estimates and underpinning dividend expectations. Yesterday's trading update demonstrated strong growth in revenues, with an additional £18m (+10.4%) generated organically, and a further £15m from acquisitions. Overall revenues of £212m was £5m ahead of our estimate, which is encouraging. Standouts amongst the strong performances were the activities in the Baltic region (Freight Forwarding in Lithuania and Estonia), the Pall-Ex Romania franchise (a 21.7% y-o-y increase in pallets handled, to 60.700 per month) and the turnaround of Benfleet Far Eastern. We anticipated net cash of £3.2m by the end of 2019. The outcome of £6.9m was significantly ahead, reflecting active cash collection and lower deferred consideration paid, which more than offset the increase in capex (particularly on IT). The high cash level not only underpins dividend expectations but provides options for management in terms of M&A opportunities. The short-term focus is on fully integrating past acquisitions and increasing the level of cross-selling throughout the Group. The positive outlook and management’s swift action on costs/issues appear to underpin our 2020 estimates. Furthermore, net cash amounts to a significant 18% of the current market capitalisation. XPD shares are trading on a 2020F PER multiple of just 8.8x and markedly below our unchanged fair value of 48p/share. - To see full note click here:
Xpediator Plc #XPD announced, in its trading update for the year ended 31 December 2019, that performance is expected to be in line with market expectations. Its turnover is expected to increase by 19% to £212 million from £179.2 million in the prior year, driven by a healthy mix of organic and acquisition, while adjusted pretax profit is expected to be slightly above £5.0 million, in line with management guidance provided in its 2019 interim results. Furthermore, the Baltic region was again a key growth area within the Freight Forwarding division with Lithuania and Estonia performing particularly strongly compared to prior year, while Benfleet Far East activity also continued to grow in-line with management expectations. Moreover, the project in Regional Express is now operational with offices established in both China and Germany and volumes expected to increase substantially during 2020. Its final results will be announced in April 2020.
Xpediator, a leading provider of freight management services across the UK and Central and Eastern Europe is pleased to confirm that trading for the year ended 31 December 2019 is expected to be in line with market expectations. ·Group turnover increased 19% to £212 million driven by a healthy mix of organic and acquisition led growth:. o £18 million/ 10.4%...
Xpediator,, a leading provider of freight management services across the UK and Central and Eastern Europe, announces that on 4 December 2019 Wim Pauwels, non-executive director of the Company, purchased 80,000 ordinary shares of 5 pence each in the Company at a price of 37 pence per Ordinary Share. Established in 1988 by Stephen Blyth, the Group's international...
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Company Profile

Xpediator is the holding company for the Group, a well-established international provider of freight management services. The original business, trading as “Delamode”, was established in 1988 by Stephen Blyth (the Group’s Chief Executive Officer), providing freight forwarding services in the UK. The Group has since evolved into an integrated freight management business operating in the supply chain logistics and fulfilment sector across the UK and Europe with a particular focus on, and expertise in, CEE countries. The Group currently employs over 700 people, with operational headquarters in Braintree, Essex, and country offices in Bulgaria, Lithuania, Latvia, Estonia, Macedonia, Montenegro, Moldova, Romania and Serbia operating across a total of 31 sites. This network of offices provides regular and direct services linking Eastern Europe, the Balkans and the Baltics with Western Europe, together with logistics and warehousing capabilities in the UK and Romania. The Group has three main business areas which are managed autonomously on a day-to-day basis but directed centrally to cross-sell services to the Group’s customer base: Freight forwarding, trading under the Delamode, EshopWedrop, Regional Express and Benfleet Forwarding brand’s. Logistics and warehousing, trading under the Delamode brand and EMT; and pallet distribution services, trading under the Pall-Ex brand. Transport services, trading under the Affinity brand.

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HQ
700 Avenue West
Skyline 120
Great Notley
Braintree
CM77 7AA
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