ORION ENGINEERED CARBONS SA OEC

June 15, 2022 - 9:58am EST by

member

						2022	2023
Price:		17.30		EPS		2.3	2.6
Shares Out. (in M):		61		P/E		7.6	6.7
Market Cap (in $M):		1,050		P/FCF		0	0
Net Debt (in $M):		786		EBIT		230	265
TEV (in $M):		1,830		TEV/EBIT		7.9	6.9

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9	member 10/24/13 3:38PM Update 8
Hi, Any update? Obviously traffic tanked in the last 11 months, any feeling for how permanent/temporary the weakness is? They seem to have adjusted capacity to suit lower demand in the third quarter and improved RASM... login to read the rest view available tags
7	member 4/22/13 1:49PM RE: Mtce Capex and Subsidies 6
Sorry about the late response. 1) Capex was higher than $1.5mm in '08 (related to development of hubs) and then in '10, '11, and '12, all years in which GLUX purchased aircraft. Though GLUX didn't disclose... login to read the rest view available tags
5	member 4/10/13 12:01PM RE: Pipe 3
Unfortunately can't get a hold of management. I would suspect that management is afraid they would lose a degree of control over the business (which is probably true). Company isn't unfinanceable imo, because esp. as... login to read the rest view available tags
4	member 4/10/13 11:27AM RE: Normalized FCF 2
Am trying to be conservative with my calculation of normalized EFCF using lower than historical margins. I think you're right that it's probably closer to $6M (the debt paydown certainly supports this). Ultimately, I think... login to read the rest view available tags
2	member 4/04/13 7:47PM Normalized FCF
Thanks for the write-up. I've been digging through this recently and agree with your thesis overall. Where are you getting normalized FCF (~$5M) from? I calculate that it is closer to $6-6.5M. The debt payment of... login to read the rest view available tags
1	member 4/04/13 7:18PM Couple notes
Worth reading (from an unaffiliated blogger), including the comments section: http://otcadventures.com/?p=495 Also, just to note, microcaps sometimes pop a bit on VIC the day posted (though this one might not move at all), but just as a... login to read the rest view available tags

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