Happy Chappy schreef op 6 april 2016 18:52:
analist update
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PSA Citroën announces ambitious growth plan
PSA unveiled its new 2016-2021 Push to Pass strategy;
the new strategy targets a higher operating margin and substantially higher organic growth
Groupse PSA aims for targets rev growth 10% 2016-18 and 15% 2018-21, growth is based upon mobility services ( see investment in peer to peer car sharing site Koolicar ) and fleet management ( no new competitor for TT though) but more importantely , also on a barrage of new models
PSA aims to introduce 26 new passenger car models ( almost 5% per year) and 8 LCVs ( Expert and Jumpy likes) that gives TT as global PSA Groupe global supplier of navigation software , maps and traffic services an excellent opportunity to grow its Automotive revenues, which is one of the 2 pillars in our inestment case ( the other being Telematics)
we rate the share a BUY based on improving FCF due to substantial growth in Automotive and Telematics
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en dan nog eentje
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possible new investors and its implicatons
Telematic news now quotes undisclosed sources that indicate that MSFT and Ford are possibly also interested ( besides AMZN ) in taking up a stake in Here, other already known parties interested in a stake in Here are Continental and Renault
our view: we are a little surprised to see multiple companies considering taking a stake in Here.
Here is a commercial company that needs to generate a profit so it will make its maps and traffic services available to those that interested, regardless of whether the interested party is a stake holder or not, but for some OEMs, having a stake ( which gives some measure of control ) could make sense
it will be intersted to see at what price these stakes will be acquired and that will provide a basis of what TT's automotive and licensing biz , which resembles Here closely is (now) worth.
Joining the Here consortium as a partner makes more sense as achieving standarisation in the automotive industry is key.
this applies to the way car sensor data and map data is gathered, uploaded, managed and shared with other cars and the infrastructure.
standarisation will allow for faster adoption, lower overall cost and fewer errors, which is crcuial to a world moving fast towards semi-autonomous driving ( see GM's bolt, Tesla's 3 and other cars that have been announced for FY17/18)
...........and this is where it get's tricky for TT .....
because if Here attracts a large following of partners, some of which are also share holders, than the change that the Here consortium determines what becomes standard or not increases, that could have negative implications for TT if some of these new standards are based on technology that TT has developed and adopted
ok, zo gaat t nog even door
conclusie is toch wel dat TT er ook goed aan doet om te "binden" , wat ik al een paar keer heb gezegd, hou 50% en laat 50% gaan aan 5 of 7 grote spelers, doe wat Here doet, or repent
hoop echt dat HG on the ball is en verdomme niet achter zijn scherm zit te pitten, die Here die gaan er voor.
TT heeft een technologische voorsprong dat schrijft ook deze analist, maar ze moeten nou wel bij de les blijven, de wereld om heen gaat in over-drive , HG er is werk aan de winkel
doe wat Here doet, hou meerderheid, maar laat partners in de kaarten, zo niet loop je een mega risico voor ons allemaal dat we dit allemaal aan ons voorbij zien gaan.
dan kan je later samenwerken met Here voor eenvormigheid, maar dan praat je op gelijke kracht anders ben je straks de beste in de geschiedenisboeken.
shit, zit ik nou op t verkeerde draadje, Ja ik ga t niet opnieuw typen sorry.
ik zal t effe laten staan en dan verwijder ik t wel, als dat nog gaat