CENTRICA PLC CPYYY

October 05, 2020 - 6:32pm EST by

member

						2020	2021
Price:		0.41		EPS		0.042	0.073
Shares Out. (in M):		5,841		P/E		9.9	5.6
Market Cap (in $M):		3,127		P/FCF		6.1	3.0
Net Debt (in $M):		4,619		EBIT		721	905
TEV (in $M):		9,975		TEV/EBIT		13.8	8.2

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#	AUTHOR DATE SUBJECT
8	member 7/29/21 3:34PM update post 1H results?
HTC, Are you still involved here? Would appreciate any updates to your thesis and any framing of risk/reward. Thank you view available tags
7	member 10/26/20 10:05AM Questions
HTC2012, Thank you for an excellent and interesting writeup and Q&A. Can you recommend a good industry primer? We are particularly looking to better understand the regulatory and competitive risks. Additionally, would it be possible for the company to... login to read the rest view available tags
6	member 10/13/20 3:20PM Re: Re: Re: questions 5
Pensions: you are correct that this will not be sorted until the end of 1H 2021. I do not think this is a major overhang for the stock nor am I daunted by a 6-8... login to read the rest view available tags
5	member 10/10/20 5:06PM Re: Re: questions 4
thank you very much for the extremely comprehensive response. I sure learnt a lot reading all that! whilst in sum it does make me feel better about some of the risks that jumped out at... login to read the rest view available tags
4	member 10/09/20 2:44PM Re: questions 2
1. Pensions: you capitalize this at 1.22bn in your estimates but per the filings this is actually 2.4bn if the methodology used in the last review (Mar18) is replicated at the next review (Mar21). On... login to read the rest 3 view available tags
3	member 10/07/20 2:42PM Re: Looks interesting; 2 questions 1
Regarding interest expense, it's an interesting point. It depends largely on how much gross debt they paydown and when. Given the amount of capital likely to be generated from asset sales, corresponding pension deficit and lack of clarity... login to read the rest 1 view available tags
2	member 10/07/20 5:28AM questions
thanks for the writeup. a few questions of the bat: 1. Pensions: you capitalize this at 1.22bn in your estimates but per the filings this is actually 2.4bn if the methodology used in the last review... login to read the rest 3 view available tags
1	member 10/06/20 5:33PM Looks interesting; 2 questions
If they do get these asset sales done, it does look very interesting at these levels. A couple of quick questions: First, small point: why do you not have interest expense going down in 2022... login to read the rest 2 view available tags

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