Alexander Eliasson Profile picture
Nov 24, 2020 4 tweets 2 min read Read on X
EU's "Green Deal" är en mission att göra Europa klimatneutralt till 2050. Detta kommer uppnås av regleringar, förbud, subventioner, avdrag och andra riktade åtgärder.

(1/20)
Ett betydande verktyg för att uppnå "Green Deal" kommer att vara "EU Taxonomy"; ett klassificeringsramverk i syfte att identifiera ekonomiska aktiviteter och investeringar utefter dess grad av hållbarhet. Image
Ett annat syfte med EU Taxonomy är att motverka s.k. Greenwashing. Har du märkt att nästan varenda fond, företag och fastighetsbolag är ESG idag?

Framöver kommer det bli lättare att screena efterlevnad och grad av hållbarhet, utöver landsgränser, då vi har samma ramverk. Image
Bank of America rapporterar att 4 av 5 i Gen-Z (+2 miljarder människor) lägger in ESG i deras ekonomiska beslut.

Vi kan skämta om "ESG flöden", men ESG-bolag kommer få en svindlande överhand i fondflöden, skatteincitament, finansieringskostnad - med mera. Image

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More from @alexeliasson

Nov 26, 2023
▪️ Net Profit +37% YoY
▪️ 10-Year CAGR +25%
▪️ ROE 33%

🎭 Entertainment GMV +340%
📊 Investment platform MAU +300%
📄 Insurance premiums +84%
👪 Super-App MAU +38% (37% of population)
🛍️ Marketplace GMV +65%

2.8 P/E + 15% dividend too cheap 🙃

🧵on $HSBK $hsbk.l 👇
Halyk has managed 10x net profits the last decade and today commands #1 market share in almost all verticals.

Especially excels in corporate banking where 50% of the countrys legal entities are customers and 80% (!) of all large enterprises.

Market share (pic):

Image
Image
Image
A couple of years ago, Halyk leveraged its market position to launch its digital platform 'Super-App' and has managed to onboard approximately 35% of the population today. It continues to grow rapidly.

Ranks #2 behind $KSPI for individuals and ranks #1 for corporations. Image
Read 21 tweets
Mar 3, 2023
Nya havsbaserade vindkraftsverk kommer närapå tiodubblas i Europa, detta årtiondet.

Om än dyrare att installera än markbaserad vind, så har man i regel betydligt högre yield (wind speed) och ett mindre påverkat landskap.

Lite kort om Odfjell Oceanwind som ägs av $OTL 👇 Image
99% av havsbaserade vindkraftsinstallationer är idag s.k. fixed bottom i.e. ställda i mark.

Nackdelarna med fixed är (uppenbara) bl.a. områdes- & djupbegränsning men också att berggrunden kan sätta stopp (t.ex. Kalifornien, USA, uppges inte vara lämplig för fixed).

Därför... Image
...är det mobila riggar s.k. Floating Wind som står för den explosiva tillväxten framöver.

• Bättre yield / mindre områdesbegränsning
• Billigare att montera och underhålla (kan byggas helt på land)
• Trevligare landskapsbild än nära kuster

+80% CAGR ↘️ ImageImage
Read 7 tweets
Mar 1, 2023
Delfi $delfi.sp H2 results:

▪️ Revenue +21% (USD 💵)
- 🇮🇩 Indonesia +19%
- 🌏ASEAN +26%

▪️ EBITDA +24%
▪️ Net Profit +44% 💣💥
+74% excl. non-recurring items 👀
▪️ Div +50%

• p/e 9
• Div 6%
• Net cash 15% of mcap
• Defensive & double digit growth
• EV $400m
👇
+45% market share in Indonesia, a country with a (young) population of +270m.

As cooling capabilities continues to improve (in the distribution chain and for consumers) - chocolate consumption *growth* per capita is set to continue outpace mature markets, for years to come.
With a 70 year local heritage, Delfi's brands are top of mind for local consumers.

Similar to:
🇸🇪 Marabou
🇬🇧Cadbury
🇫🇮 Fazer
etc.

Here's what the Nestle, the global power-house, has to say about Delfi's market position:
Read 8 tweets
Feb 14, 2023
Oddfjell Technology $OTL

• ev/ebitda 3.5x / +20% fcf yield
• 60% family owned
• Huge sector tailwinds from E&P spending cycle

A (very short) 🧵on my largest holding 👇
2/ For over a decade, we continued to consume hydrocarbons at an increasing rate - all while spending less and less on exploration and production.

The market was unsustainable tight even before Russia invaded Ukraine.
3/ Now, when Energy Security is back on the EU-agenda combined with high commodity prices that make pretty much all offshore projects economically viable; E&P investments are set to ramp up for years to come.
2014-2021 "Seven Years of Famine"
2022-2028 "Seven Years of Feast" ↘️
Read 14 tweets
Jan 29, 2023
Nanocap levered to Asian reopening and revenge-travel: trading at below 3x normalized profits, below net current assets, tax-free dividend, 30% insider ownership *and* 7 insider purchases last twelve months? 👀💣💥

Short pitch on my travel special sits🧵👇
2/ International arrivals in Asian tourist hotspots 2022 compared to 2019:

🇹🇭 30%
🇯🇵 10%
🇸🇬 35%
🇲🇾 15%
🇰🇭 15%
etc.

Japan, which is a huge tourist destination, opened up only 3 months ago.

Asia-Pacific 🌏 international travel is far from pre-C19 levels.
3/ Airline fleets remain grounded and has yet to reach Jan-2020 levels. Unsustainable low occupancy for hotels, during three years, led to frozen capital expenditures.

As activity starts to pick up, I'd argue there's a strong rebound play to be made here.
Read 19 tweets
Nov 13, 2022
1/🧵 Ett knippe observationer och aktiecase från veckan:

Sportradar $SRAD har exklusiva avtal med NBA, NHL, MBL etc. för sportdata; dottern Betradar reder sportbok åt +900 kunder.

IPO på $27 i fjol, $9.8 idag.

Pitch:
overlookedalpha.com/p/sportradar-b… Image
2/ Aldrig förr har USA outperformat omvärldens börser till denna grad. Kan det komma förändras framgent? Väldigt stark valuta och höga värderingar medför att jag främst lyfter på stenar i andra länder f.n. Image
3/ GMO pekar på att bl.a. Sverige, Sydkorea och Japan är i en sweetspot där valutan är svag kombinerat med historiskt låga värderingar. Image
Read 15 tweets

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