Viking Posted February 11 Share Posted February 11 (edited) Murad Al-Katib, President and Chief Executive Officer - AGT Food and Ingredients. On September 19, 2023, Murad gave a 75 minute talk to his Alma Mater, Edwards School of Business in Saskatoon, Saskatchewan. Great history and overview of the company. Pretty amazing what he has been able to accomplish. Click the link to watch the YouTube video: https://youtu.be/DzE9ypecdI8?si=cxvsU3EeXoXGzELc AGT 'reported sales' in 2022 = C$2.8 billion (the slide below is from the video) In Fairfax’s 2022AR, Prem said AGT had EBITDA of C$150 million Do board members have any thoughts on how this company should be valued? Fairfax owns around 60%. It seems to be in a perennial growth phase where everything is getting reinvested in the business. Edited February 11 by Viking Link to comment Share on other sites More sharing options...
glider3834 Posted February 12 Share Posted February 12 1 hour ago, Viking said: Murad Al-Katib, President and Chief Executive Officer - AGT Food and Ingredients. On September 19, 2023, Murad gave a 75 minute talk to his Alma Mater, Edwards School of Business in Saskatoon, Saskatchewan. Great history and overview of the company. Pretty amazing what he has been able to accomplish. Click the link to watch the YouTube video: https://youtu.be/DzE9ypecdI8?si=cxvsU3EeXoXGzELc AGT 'reported sales' in 2022 = C$2.8 billion (the slide below is from the video) In Fairfax’s 2022AR, Prem said AGT had EBITDA of C$150 million Do board members have any thoughts on how this company should be valued? Fairfax owns around 60%. It seems to be in a perennial growth phase where everything is getting reinvested in the business. cheers Viking - looks like Fairfax were carrying the equity portion of 58% AGT stake at $57M in 2020 & then in 2022 it is potentially included in 'other consolidated' category but we can't confirm as this is not broken out 2020 AR 2022 AR Link to comment Share on other sites More sharing options...
Viking Posted February 12 Share Posted February 12 19 minutes ago, glider3834 said: cheers Viking - looks like Fairfax were carrying the equity portion of 58% AGT stake at $57M in 2020 & then in 2022 it is potentially included in 'other consolidated' category but we can't confirm as this is not broken out 2020 AR 2022 AR @glider3834 Thanks for fishing that out for me. AGT looks like another interesting asset. Hopefully we get more information on the private holdings when Fairfax publishes the AR. Link to comment Share on other sites More sharing options...
villainx Posted February 12 Share Posted February 12 16 hours ago, Viking said: Murad Al-Katib, President and Chief Executive Officer - AGT Food and Ingredients. On September 19, 2023, Murad gave a 75 minute talk to his Alma Mater, Edwards School of Business in Saskatoon, Saskatchewan. Great history and overview of the company. Pretty amazing what he has been able to accomplish. Click the link to watch the YouTube video: https://youtu.be/DzE9ypecdI8?si=cxvsU3EeXoXGzELc Thanks for this. Link to comment Share on other sites More sharing options...
DM1 Posted February 12 Share Posted February 12 Fairfax - Positive Outlook Ahead Of Earnings Despite Accounting Fears (FFH:CA) | Seeking Alpha Fairfax - Positive Outlook Ahead Of Earnings Despite Accounting Fears - Seeking Alpha Link to comment Share on other sites More sharing options...
nwoodman Posted February 12 Share Posted February 12 (edited) 6 hours ago, DM1 said: Fairfax - Positive Outlook Ahead Of Earnings Despite Accounting Fears (FFH:CA) | Seeking Alpha Fairfax - Positive Outlook Ahead Of Earnings Despite Accounting Fears - Seeking Alpha Good article, and by Seeking Alpha standards, extremely good. The source table for the Lloyds syndicates can be found here https://www.atlas-mag.net/en/article/ranking-of-top-20-lloyd-s-syndicates-in-2017 The site is quite helpful as below the table there is a link to prior years for a quick comparison. Given the hysteria around AI I really appreciate that Fairfax aren’t spruiking Ki. It is an exciting development nonetheless. Edited February 12 by nwoodman Link to comment Share on other sites More sharing options...
petec Posted February 13 Author Share Posted February 13 On 2/11/2024 at 11:31 PM, Viking said: Murad Al-Katib, President and Chief Executive Officer - AGT Food and Ingredients. On September 19, 2023, Murad gave a 75 minute talk to his Alma Mater, Edwards School of Business in Saskatoon, Saskatchewan. Great history and overview of the company. Pretty amazing what he has been able to accomplish. Click the link to watch the YouTube video: https://youtu.be/DzE9ypecdI8?si=cxvsU3EeXoXGzELc AGT 'reported sales' in 2022 = C$2.8 billion (the slide below is from the video) In Fairfax’s 2022AR, Prem said AGT had EBITDA of C$150 million Do board members have any thoughts on how this company should be valued? Fairfax owns around 60%. It seems to be in a perennial growth phase where everything is getting reinvested in the business. This is fantastic - thanks. I have no idea how to value the company but I get the sense Prem picked an incredible partner in Murad. Link to comment Share on other sites More sharing options...
gfp Posted February 14 Share Posted February 14 Fairfax's year end 13-F was released - https://www.dataroma.com/m/holdings.php?m=FFH Link to comment Share on other sites More sharing options...
Daphne Posted February 14 Share Posted February 14 INVESTIGATION ALERT: Berger Montague is Investigating Securities Fraud Claims on Behalf of Fairfax Financial Holdings Limited (OTC: FRFHF, FFHPF) Investors Dow Jones - Updated 43 minutes ago INVESTIGATION ALERT: Berger Montague is Investigating Securities Fraud Claims on Behalf of Fairfax Financial Holdings Limited (OTC: FRFHF, FFHPF) Investors PHILADELPHIA, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Berger Montague is currently investigating potential violations of the federal securities laws on behalf of shareholders of Fairfax Financial Holdings Limited ("Fairfax Financial") (OTC: FRFHF, FFHPF). CLICK HERE TO LEARN MORE ABOUT THE INVESTIGATION Fairfax Financial, headquartered in Toronto, provides property and casualty insurance and reinsurance, as well as investment management services in the United States and internationally. On February 8, 2024, short-seller Muddy Waters Research published a report titled "Fairfax Financial Holdings Ltd.: The GE of Canada." Following this news, Fairfax Financial's share price fell by more than 11.6%, from a closing price of $1,041.43 on February 7, 2024 to a close of $920.37 on February 8, 2024 -- a decline of $121.06 per share. If you are a Fairfax Financial investor and would like to learn more about our investigation, please contact Berger Montague: James Maro at jmaro@bm.net or (267) 637-3176, or Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015 or CLICK HERE. Whistleblowers: Anyone with non-public information regarding Fairfax Financial is encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us. Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., Delaware, San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States. Link to comment Share on other sites More sharing options...
gfp Posted February 14 Share Posted February 14 Yeah, that's nothing. These law firms do this for every stock decline that makes the news. Link to comment Share on other sites More sharing options...
Crip1 Posted February 14 Share Posted February 14 12 minutes ago, Daphne said: INVESTIGATION ALERT: Berger Montague is Investigating Securities Fraud Claims on Behalf of Fairfax Financial Holdings Limited (OTC: FRFHF, FFHPF) Investors Dow Jones - Updated 43 minutes ago INVESTIGATION ALERT: Berger Montague is Investigating Securities Fraud Claims on Behalf of Fairfax Financial Holdings Limited (OTC: FRFHF, FFHPF) Investors PHILADELPHIA, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Berger Montague is currently investigating potential violations of the federal securities laws on behalf of shareholders of Fairfax Financial Holdings Limited ("Fairfax Financial") (OTC: FRFHF, FFHPF). CLICK HERE TO LEARN MORE ABOUT THE INVESTIGATION Fairfax Financial, headquartered in Toronto, provides property and casualty insurance and reinsurance, as well as investment management services in the United States and internationally. On February 8, 2024, short-seller Muddy Waters Research published a report titled "Fairfax Financial Holdings Ltd.: The GE of Canada." Following this news, Fairfax Financial's share price fell by more than 11.6%, from a closing price of $1,041.43 on February 7, 2024 to a close of $920.37 on February 8, 2024 -- a decline of $121.06 per share. If you are a Fairfax Financial investor and would like to learn more about our investigation, please contact Berger Montague: James Maro at jmaro@bm.net or (267) 637-3176, or Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015 or CLICK HERE. Whistleblowers: Anyone with non-public information regarding Fairfax Financial is encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us. Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., Delaware, San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States. Not going to exonerate Muddy Waters, but this looks to be ambulance chasing. -Crip Link to comment Share on other sites More sharing options...
Parsad Posted February 14 Share Posted February 14 https://finance.yahoo.com/news/maersk-had-more-cash-knew-120000731.html Not the way to spend a $41B windfall! Hopefully, Poseidon/Atlas has been more prudent with their income on their long-term contracts. Cheers! Link to comment Share on other sites More sharing options...
nwoodman Posted February 14 Share Posted February 14 18 minutes ago, Parsad said: https://finance.yahoo.com/news/maersk-had-more-cash-knew-120000731.html Not the way to spend a $41B windfall! Hopefully, Poseidon/Atlas has been more prudent with their income on their long-term contracts. Cheers! That pretty much encapsulates the Atlas thesis - long term meat and potatoes vs short term sugar hit. A good reminder of how patient capital (strong hands) could make a difference to this industry Link to comment Share on other sites More sharing options...
nwoodman Posted February 19 Share Posted February 19 Market is enjoying the Quess demerger announcement https://bnnbreaking.com/finance-nav/quess-corp-announces-strategic-demerger-a-tripartite-leap-forward Link to comment Share on other sites More sharing options...
Hoodlum Posted February 19 Share Posted February 19 Here are some more details behind the Quess decision. There is an investor meeting on Wednesday where more details may come out. https://www.cnbctv18.com/market/quess-corp-share-price-demerger-three-entities-swap-ratio-revenue-contribution-19077801.htm/amp “Finding a strategic investor will be related to the opportunity to bring with them and not for the sake of the money that they bring because we are sufficiently capitalised, we have Fairfax is an investor, got $90 billion of assets under management, promoters own 57% of the company. So, it's unlikely that we need cash,” Issac said. He added that if there is a principle of additionality and something that investors can bring to the table, then the company would be open to discuss but not otherwise. Based on the demerged entities, Quess Corp will contribute 68% to the consolidated revenue of the company, Digitide will contribute 14%, while the remaining 18% will come from Bluspring. "This proposal should help the company compare on comparable metric with listed players, which might be welcomed by investors," brokerage firm Motilal Oswal said in its note. Quess Corp will hold an investor meet on February 21 for the same. Link to comment Share on other sites More sharing options...
petec Posted February 21 Author Share Posted February 21 There is a comment on the 4q call that Atlas projects $600m of earnings in 2025. From the context it is not clear whether this is for the whole company or just Fairfax's share. I could probably find out if I could be bothered, but I can't, so...does anyone know? Link to comment Share on other sites More sharing options...
SafetyinNumbers Posted February 21 Share Posted February 21 25 minutes ago, petec said: There is a comment on the 4q call that Atlas projects $600m of earnings in 2025. From the context it is not clear whether this is for the whole company or just Fairfax's share. I could probably find out if I could be bothered, but I can't, so...does anyone know? I think it’s for the whole company. Link to comment Share on other sites More sharing options...
petec Posted February 23 Author Share Posted February 23 On 2/21/2024 at 7:12 PM, SafetyinNumbers said: I think it’s for the whole company. Lovely, thanks. Link to comment Share on other sites More sharing options...
glider3834 Posted February 23 Share Posted February 23 https://cyprus-mail.com/2024/02/23/hellenic-bank-posts-e365-4-million-profit-for-2023-new-lending-climbs-to-e1-2-billion/ Link to comment Share on other sites More sharing options...
Viking Posted February 23 Share Posted February 23 (edited) 4 hours ago, glider3834 said: https://cyprus-mail.com/2024/02/23/hellenic-bank-posts-e365-4-million-profit-for-2023-new-lending-climbs-to-e1-2-billion/ My math says Eurobank paid an average of €1.78 to acquire 55.3% of Hellenic Bank over the past couple of years (awaiting regulatory approvals to become majority owner). In 2023, Hellenic Bank earned €0.88/share. Tangible book value at Hellenic Bank is €3.54/share at Dec 31, 2023, up 35% year over year. This is looking like a great investment by Eurobank. - https://www.hellenicbank.com/-/media/hbc/announcements/2024/february/12m2023/commentary-en.pdf Edited February 23 by Viking Link to comment Share on other sites More sharing options...
glider3834 Posted February 23 Share Posted February 23 (edited) 4 hours ago, Viking said: My math says Eurobank paid an average of €1.78 to acquire 55.3% of Hellenic Bank over the past couple of years (awaiting regulatory approvals to become majority owner). In 2023, Hellenic Bank earned €0.88/share. Tangible book value at Hellenic Bank is €3.54/share at Dec 31, 2023, up 35% year over year. This is looking like a great investment by Eurobank. - https://www.hellenicbank.com/-/media/hbc/announcements/2024/february/12m2023/commentary-en.pdf +1 - hopefully Eurobank can get remaining approvals to be able to offer for 100% - also Hellenic's capital ratios look decent in the 20s & NPEs have been de-risked into the low single digits - also regulators have put on hold any dividends by Hellenic pending acquisition by Eurobank ' Furthermore, despite high earning, the bank said it cannot proceed with the declaration of dividend for full year 2023 “due to regulatory restriction.” “At this moment the restriction is in place due to a series of reasons. We at this transitional phase amid a takeover which the regulators have deemed that capital should remain with the organization instead of being distributed as a dividend,” Rouvas said.' https://www.stockwatch.com.cy/en/article/trapezes/hellenic-bank-posts-highest-ever-profit-dividend-distribution-hold-due-takeover Edited February 23 by glider3834 Link to comment Share on other sites More sharing options...
Viking Posted February 23 Share Posted February 23 (edited) 25 minutes ago, glider3834 said: +1 - hopefully Eurobank can get remaining approvals to be able to offer for 100% - also Hellenic's capital ratios look decent in the 20s & NPEs have been de-risked into the low single digits - also regulators have put on hold any dividends by Hellenic pending acquisition by Eurobank ' Furthermore, despite high earning, the bank said it cannot proceed with the declaration of dividend for full year 2023 “due to regulatory restriction.” “At this moment the restriction is in place due to a series of reasons. We at this transitional phase amid a takeover which the regulators have deemed that capital should remain with the organization instead of being distributed as a dividend,” Rouvas said.' https://www.stockwatch.com.cy/en/article/trapezes/hellenic-bank-posts-highest-ever-profit-dividend-distribution-hold-due-takeover With the size of earnings at Hellenic Bank, it must be disappointing for minority shareholders to not get a big dividend payout right away. With all the cash building at Hellenic Bank, does this mean Hellenic will actually be able to fund a big piece of the takeout of the minority partners? W ————— Banking in Cypress is a duopoly with Hellenic Bank and Bank of Cypress with something like 80% share in most important categories when combined? Here are the results from Bank of Cypress - also outstanding. https://www.stockwatch.com.cy/en/article/trapezes/bank-cyprus-posts-almost-eu05-billion-net-profit-2023 Edited February 23 by Viking Link to comment Share on other sites More sharing options...
ValueMaven Posted February 23 Share Posted February 23 Where can I read about the history of FFH's ownership of Eurobank? Link to comment Share on other sites More sharing options...
nwoodman Posted February 23 Share Posted February 23 46 minutes ago, ValueMaven said: Where can I read about the history of FFH's ownership of Eurobank? You could always try the EGFEY (ADR) thread. In a nutshell Prem tried to repeat the success with Bank of Ireland. It’s been a hard slog but is working nicely for shareholders now. Their perseverance with Eurobank has been brand accretive. https://en.wikipedia.org/wiki/Eurobank_Ergasias Link to comment Share on other sites More sharing options...
Haryana Posted February 24 Share Posted February 24 (edited) https://www.theglobeandmail.com/business/rob-magazine/article-highest-paid-ceos-canada-company-performance/ Blackberry is the king here with way up highest compensation and way up highest loss. Even Air Canada cannot match it. Edited February 24 by Haryana Blackberry Link to comment Share on other sites More sharing options...
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