Wednesday 28 September 2016

Dividend from IBM and BP: September 2016

IBM, logo

For my 25 shares in IBM I received a total of 31.11 € and from this was taken 4.67 € in taxes and I received as cash on my broker account 26.44 €.

To find out more concerning IBM then please check out analysis of IBM 2016.

BP, logo

For my 800 shares in BP I received in total 70.77 € and from this no taxes were taken and I received the full amount as cash on my broker account.

To find out more about BP then please click on analysis of BP 2016.

To see my total dividend flow then please visit the Stock Dividends page that has now been updated. 

Sunday 25 September 2016

E.On becomes E.On and Uniper

E.On, logo

My less than favourite energy company E.On have now since a couple of weeks gone ahead and handed out parts of Uniper. For my 400 shares in E.On I received 40 shares in Uniper so I got a nice even number. The value of each share is around 10 € and E.On dropped of course with an equal amount as what they handed out.

Uniper, logo

Uniper is the company that got all the dirty energy things from E.On. which surprise, surprise did not end up including the nuclear energy which makes the entire "green" concept for E.On utterly useless in Germany. Still Europe is larger than Germany and any countries and population considers nuclear power generated electricity to be clean so we shall see what the outcome will be.

Aktiestinsen (a Swedish famous investor) once said that stocks breed like rabbits. I do not know about that but this was at least my very first offspring so the breeding has started.

Thursday 8 September 2016

Retail report Q2 2016

This group is complicated to report on since almost all of them are running broken years and additionally I decided to bring in ABF into retail even though they are still so much more than retail... either way here goes...


Adidas, Q2, 2016, front page

I am very certain that this report was well accepted. The share price has gone from around 110 EUR up to 155 EUR before it dropped down a little again to 145 EUR which it is at today. The report is excellent and yet there are difficult matters in it.

For the report in full please go here and to see my previous summary please visit Adidas report Q1 2016 and to find out more regarding Adidas then please go to  analysis of Adidas 2016.

The financial statement below is impressive. The net sales are up by 15% but they have managed to control their costs and for this reason we end up with a net income that is up by almost 70% in comparison to 2015. Impressive! With the Olympics etc. in 2016 it has turned out to be a very strong sports year. The sales in the USA as well as in China has completely exploded! So many signals have indicated that the US consumer is careful... well... apparently not for buying Adidas products.

Adidas, Q2, 2016, financial statement

Still... South America as well as Russia showed very weak results. Additionally, Reebok, TaylorMade-Golf and CCM-Hockey did not perform at all. All the strength and sales came from the Adidas brand and I must say that the Adidas products that I saw in the Olympics simply looked good. Well designed and beautifully made not like the Puma Switzerland football shirts that got ripped apart when the wind was blowing a little in the European championship.

Conclusion: Adidas have already in the first half of this year made as much money as they did for the full year of 2015. People have started to collect their earnings as would I have done if I would have had more of a focus. Still... if South America takes off and Russia as well... Hmmm... and China have started to buy the real brand and not fake versions... yeah, the journey has probably still not ended and I just managed to buy them at the very insane low price which makes me want to bring home my profit but I will suck a little more on my thumb here.

Associated British Foods
ABF, Q2, 2016, front page

ABF have arrived with two reports in the meantime and only one of them, their half year report, contains numbers and their so called trading reports are just a bit of a chit chatting to be honest.

The report in full can be found here and for the previous report please visit ABF report Q1 2016 and to find out more regarding ABF then please check out the analysis of ABF 2015.

In the financial statement below things are looking ok but that is also all to say about it. The revenue is down and due to some cost control the earnings in the end is a bit up compared to last year. They keep coming with their adjusted this and that which I do not like but it seems to have decreased a little... could mean that things are actually looking better but well... who knows.

ABF, Q2, 2016, financial statement

Conclusion: The most disturbing thing with Primark here in the UK is that they do not look more active, with their sales, than a normal H&M. They are far, far away from how it was in Berlin when I saw the stores there. Sure, normality always arrives and it is stale. Still, they are expanding hard and as long a company does that they will also keep growing their revenue and most likely their earnings.

ABF also arrived with their Q3 report and in it the only things mentioned of interest is that sugar seems to start to improve mainly due to increased prices but also due to cost control. They also expect to get mixed benefits due to Brexit and decreased valuation of the GBP.

Conclusion: In their Q3 report, which is a three pages report, there is not much to say. I was disappointed that the growth of Primark is not increasing by more than 7%. That disturbs me.

Fast Retailing

Fast Retailing, Q3, 2016, front page

Fast Retailing and Uniqlo is another one of those companies with a broken year and for this reason the report concerns Q3 2016. The report is bad and I am not impressed.

For the report in full please go here, to read the previous summary then please click on Fast Retailing report Q2 2016 and to find out more concerning Fast Retailing then please visit analysis of Fast Retailing.

In the financial statement below we can see that they keep paying in earnings for their push in revenue and market share. Their 6% increase in revenue gives -47% decreased earnings. On top of this poor performance they even had to change their projections for the full year 2016 to much, much worse from something that already from the start was not very impressive at all.

Fast Retailing, Q3, 2016, financial statement

Conclusion: Fast Retailing needs to tie up their costs and here we have yet another one of those companies that are pissing around with derivatives. Well done guys! I love their stores and I find that their cloths look good but they need to shape up!

Gerry Weber

Gerry Weber, Q2, 2016, front page

Ooooh... wooow! This report is smashing! It follow the exact same trend as were seen in the Q1 report and already that one was amazing. Ralf Weber, please resign and please board give the position to the Hallhuber guy that seems to have some clue about the business.

To see the report in full please go here to take a look at the previous summary then please click on Gerry Weber report Q1 2016 and to find out more regarding Gerry Weber please visit analysis of Gerry Weber 2016.

In the financial statement below there is nothing to be happy about. Nothing. They keep living on the shoulders of Hallhuber and on their own they are losing money. Unacceptable.

Gerry Weber, Q2, 2016, financial statement

Conclusion: Ralf Weber is not the right man for the job so please kick him out. They are pushing a new silly program called "FIT4GROWTH"! Are they little computer kids from the 90s? Adults should be able to write out proper words. Put the Hallhuber guy in charge and clean out the trash. 


TJX, Q2, 2016, front page

The American giants they just keep on delivering. It is almost always an enjoyment to dig into the reports and also in this situation I am pleased.

To read the report in full please go herefor my previous summary please visit TJX report Q2 20156and to find out more about TJX then please click on analysis of TJX 2016.

In the financial statement below we see a consistent increasing revenue and even better we see a consistent increased earning and dividend payment. On top of this they also increased the guidance for the full year and this is in a period when the value of the USD has strengthened.

TJX, Q2, 2016, financial statement

Conclusion: TJX is doing well and I am happy to be a shareholder in this American giant. They will keep growing in Europe and they will keep pushing for getting into those 40 billion USD revenue!

Overall Conclusion Retail: These companies are stretching from major home market being in Asia and Japan to Europe and going further to the US. Adidas is showing that Asia is doing but Fast Retailing shows that Japan is doing badly. ABF indicates that UK is not doing so good but the rest of Europe is ok. From Gerry Weber we can not extract any information since the CEO is useless and Germany is actually doing very well which we did not see from that report. TJX is showing that US is doing pretty good as did Adidas so that is good news to me especially since ABF is establishing themselves there more and more with now three opened stores.

Tuesday 6 September 2016

Dividend from ETF Russia, TJX and Intel: September 2016

There seem to be no boarder on how lazy I have become in terms of making publication so as it goes for the quarter reports it will also become with reporting the dividends. As soon as I discover that they have entered I will just bunk them together and report them. So here goes...

logo, HSBC

I currently have 270 parts in this ETF Russia and from them I received 11.83 USD which got converted into 10.45 EUR. Due to that I no longer live in Germany they do not remove any tax unless the dividends are being paid out from a German company so the entire 10.45 € was paid out as cash on my broker account.

TJX, logo

From my 32 shares in TJX I received a total of 8.32 USD that was converted to 7.44 EUR. From this I had to pay 15% in taxes to the US which means that I got 6.32 EUR out as cash on my broker account.

To find out more about TJX then please visit analysis of TJX 2016.

Intel, logo

I have 135 shares in Intel and from them I received 35.10 USD which got converted into 31.39 EUR. US took 15% taxes so 4.71 EUR and I received 26.68 EUR out as cash on my broker account.

To find out more about Intel please visit analysis of Intel 2016.

To check out my current dividend payment history then please visit the Stock Dividends page which has now been updated.

Sunday 4 September 2016

Summary of August 2016

Summary, August, 2016

I get more and more into the technical part of my new job and it is working pretty well. In the meantime I still manage to advice on what needs to be done in most of the projects that we have with only one project... our biggest one... being still a bit of a black hole to me which comes more from the companies interaction with customers than what it has to do with the technical part of the project. I learn, I adapt and I move forward.

In my old company, that I still am a major shareholder in, I have to admit that I no longer keep track of what the CEO is doing. I guess I will start to ask for quarterly updates but my guess is that it will be closed down before the end of this year since he showed no interest when I was running it and I doubt that his level of interest will kick up to actually make things happen. Still... then in two years from now I will get some money out of it of which 10% will go to my brother as repayment for him kindly lending me the money needed to get it started.

I was very close to sell Adidas when it was up at 155 € and the GBP/EUR was at 1.15. My plan was to sell and bring that money over to the UK. Now it is down at 155 and the GBP is getting closer to 1.20 than to 1.15 so I wait.

Brexit is funny. Directly afterwards people got scared and share prices, house prices and the GBP dropped. Now it seems as if they start to think that things are fine because it was not so bad... life went on as before. Little do they know of what is coming.

I have now managed to set up a stock ISA and the online broker that I decided for is horrible. It must have been a complete idiot that wrote the program! It is simply awful. I have transferred around 2,000 GBP onto the account but I have not managed to be bothered to do more as of yet. I have still not had the time and energy to dig into UK companies and I am leaning more towards just starting up monthly savings in an ETF to get things up and running and hopefully, once I have more time I will be able to start stock picking again. But I am sucking on my thumb on this one...

For the previous summary please visit Summary of July 2016 and here you can see my stock portfolio as it is.

Invested, current, value, portfolio

The total invested value is now up at: 85,766 € including a realised loss of -3,757 €. I made no new investments during the month.

Portfolio, August, 2016, Current

The value of the portfolio is today: 80,160 € and I now have around 449 € in cash on the account. The combined unrealised and realised loss is now at: -5,606 € (-7%) which is bad.

DAX jumped up a lot during August which, to me, makes very little sense still it is now at 10,684 points which means +4.5% which clearly beats my own +3.5%.

Conclusion: A good month for me and better still for DAX. The Brexit fear is, to me, surprisingly gone and it makes me believe that a large part of the world has the memory of a gold fish and have no possibility of accessing risks. How large is the risk that one of the 27 EU countries will refuse to accept either the deal with the UK or to refuse to expand the period of allowing the deal to take place and to  be negotiated. The risk is large. I am sorry to say this but Cameron should go into the history books as the most failed politician in modern times.