BP annual report 2016

For the report in full please click here and to see the previous summary regarding BP annual report 2016 or why not take a look at the latest analysis of BP 2016. 

Is this finally the turning point for BP? Are all the fees paid for Deepwater Horizon? Will the oil price remain or even increase? Will there be problems in Russia and with Rosneft?

Looking into the financial statement below then we see that revenues are down by -18% which is indeed very bad. They have very large depreciation costs and they state that they will be larger for the coming year. The earnings are negligible in comparison what one would expect a company such as BP to make but they are down at 172 million USD which is... a very, very poor result. 

Conclusion: BP had another seriously bad year. I hope this was the turning year. The last time I had this thought the oil prices completely crashed so we shall see what happens this time. I will remain a grumpy shareholder.

Dividend from DBAG, ETF Russia, Intel & TJX: March 2017

My, unfortunately, only investment company DBAG decided to pay out a dividend to me. I received, for my 100 shares, a total of 120 €. From this was taken -31.65 € in taxes and I received 88.35 € as cash into my broker account.

To find out more about DBAG then please visit analysis of DBAG 2017.

My ETF Russia also paid out a dividend to me and I received for my 270 parts 62.30 € that was paid out directly as cash to my broker account.

For my 135 shares in Intel I received a total of 33.22 € in dividend. From this was taken -4.99 in taxes and I ended up with 28.23 € as cash on my broker account.

For further information on Intel please visit analysis of Intel 2016.

For my 32 shares in TJX I received a total of 7.89 € from which was taken 1.18 € in taxes and I received as cash on my broker account the amount of 6.71 €. Not much to celebrate but it drops in each quarter and more importantly their concept is good and their stores are very well visited.

For more information on TJX please visit analysis of TJX 2016.

To see my yearly dividend earnings then please visit the Stock Dividends page that will shortly be updated.

Summary of February 2017

February was probably one of the most boring months at work. I suspect that routine starts to kick in also. I run to meetings without preparing things and just assume that I will be able to deal with whatever pops up. It seems to work. All my guys are working well and the amount of issues appearing within my groups is minimal... which means that things are then also a bit boring for me.

I no longer remember if I told you or not but I forgot to apply for new studies during this spring so I will also not be able to extract anything new from lecture book etc. hence... I have started to write more articles on the blog because I have time for it again but... at the moment I only catch up with annual reports and to make new analysis is still not on the agenda. Oh, and I managed to sign up for courses this summer semester and I will do some more BA and hopefully also some psychology. 

My lovely wife starts her first UK job today! I am very happy that she will now get the possibility to integrate herself in the UK society before we get deported.

Once per month I have to report to the executive management team (EMT) in my company about my progress. It has usually been a very interesting meeting between me and a couple of the EMT guys with healthy discussions of what needs to be done etc. In the last meeting a guy from over the pond join in to see what was going on over in UK in terms of developments...

Today all my already booked meetings were changed into skype meetings with different branches of our company joining in from all over the world. It confused me a little that so many people will now join in on those meetings that I went and asked my direct EMT boss what was going on? His answer was "you are a victim of your own success" - they enjoyed your meeting so much that now everyone wants to join in on them to find out what is going on in R&D. *sigh* 

This week I also found out that my business partner, that have been riding on my back since many years, did, as I suspected, not manage to keep running the company. We have therefore taken the decision to liquidate the company. I feel sad to see my baby be killed off like that but it is the only way to continue forward right now. Good news for my brother is that he will most likely receive some more dough from me according to the contract that we made when I borrowed money from him to start the company. The liquidation process does however take one year in Germany so he must wait for at least that period.

Oh, and it was a very busy month. I sold three shares and bought two that I already previously hold.

For the previous summary please visit Summary of January 2017 and here you can see my stock portfolio as it is.

The total invested value is now up at: 87,577 € including a realised loss of -551 €. I bought BP and ETF Portugal.

The value of the portfolio is today: 91,989 € and spread out I now have around 5,817 € in cash on the different accounts. The combined unrealised and realised loss is now at: 4,412 € (5%) which is not as good as one would have liked.

DAX have been running like a mustard treated bull during February and is now up at 12,067 points which means an increase of  +4.5%! Woow! I am of course not as skilled as the CEOs of the 30 DAX companies and I therefore only have +1.9% for my portfolio.

Conclusion: DAX did excellently this month! I would even stretch out my neck and say that it did silly well. No matter I shall beat DAX in the long run... which by the look of it... must be much more than five years that I am now coming up to... the Index fund approach does indeed look tempting especially with a contrarian twist to it. Still, I am not that unhappy with my 11% in index funds that I have today.

Analysis of Avtovaz 2017

Company: Avtovaz 

ISIN US05453R1014 | WKN 576848

Business: A Russian automotive company. They are the biggest personal car producer in Russia with their own brand, Lada, as well as having production for, for instance, Renault and Nissan which are their largest shareholders. Today they have almost 20% of the Russian market and they hope to increase that as well as increasing export.

Active: In 46 countries with the biggest market being Russia.

P/E: -1.3

Here you can find the previous analysis of Avtovaz 2016.

The P/E of Avtovaz is negative, the P/B is negative so Graham would not have touched this one.   Earnings to sales are negative and the only good thing is the ROE which is up at 77% but they are also crazy leveraged so... yeah... means pretty much nothing at all. Book to debt ratio is negative.

They have had -0.6% negative growth rate in the last five years so well done on that one also. estimated P/E is well... probably bankrupt.

They do spend some money on R&D still... and of course they pay no dividends.

Conclusion: Graham and I say no to this one. I will try to stop this crazy experiments in the not too far away future.

Avtovaz annual report 2016

For the report in full please go here and to read my previous summary please click on Avtovaz annual report 2015 and to find out more regarding Avtovaz then please visit Analysis of Avtovaz 2016.

No, new news under the sun for Avtovaz. Interestingly enough the share price peaked at 1.4 € not that long ago but since I no longer check in on my stocks every day or week for that matter I simply missed the good opportunity to sell my shares without a too significant loss. Oh, well, occasions seems to come and go fairly frequently.

They did actually manage to push up their sales compared to 2015 which is very good news. Due to that they still have to import all the parts to get them in a sufficiently high quality their costs are unfortunately very high for putting the cars together and they are pushing market share like crazy. It is a true disgrace that such a natural resource rich country as Russia are not able to offer proper steel for their automotive industry. Bottom line Avtovaz made a loss of 44 billion RUB which should be compared to almost -74 billion RUB last year. What still makes me over the top excited is the equity that is at -58 billion RUB.

Conclusion: Avtovaz still have not managed to sort things out but it is impressive that they managed to increase their sales even further last year, a year, that was filled of uncertainty and crashed oil prices which made Mother Russia take a serious beating which always makes people spend less. I do like that the cost of sales have not gone of any further. I will remain a grumpy shareholder.