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BWX - BWX Limited

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BWX is appeared to be having no luck - with increased revenue but lower profit. It will be when Chemist warehouse provides another piece after 50% discount.
The CEO gone.
Volume does not bring the profit when goods sold at 33% of normal retail price for a real good product.
I do not think Blackmore BKL or alike would take this as an opportunity to acquire and expand their struggling business in a very high competitive market. It is reminding me of Kodak demise.
Poor investors who bought the rights at $3 plus not long ago against rhetoric
For the BWX followers / holders - If you are offered the CEO chair, what are the three things you would like to do?
Only two months back few directors invested their money on buying from market - obviously they thought too much of their ability

https://cdn-api.markitdigital.com/a...pdf?access_token=00072y6JxwSRNqUgDYlXh323ILxq - Directors buy

https://cdn-api.markitdigital.com/a...pdf?access_token=00072y6JxwSRNqUgDYlXh323ILxq - UBS reduced holding
https://cdn-api.markitdigital.com/a...pdf?access_token=00072y6JxwSRNqUgDYlXh323ILxq UBS increased holding

 
Wow, deep discount. Exploring new lows. reopened at 70c


BWX has announced a fully underwritten $23.2 million capital raise, comprising a $13.5 million placement to sophisticated and professional investors and a $9.7 million 1 for 10 non-renounceable entitlement offer, with the new fully paid ordinary shares fully underwritten at 60¢ per share, representing a 48.7 per cent discount to last closing price of $1.17 per BWX share on 23 June

Funds raised would be used to accelerate debt reduction and for working capital, the company said
Click to expand...
BWX now expects
  • a net loss between $10 million and $14 million on revenue up 6 per cent to $206 million in financial year 2022.
  • EBITDA is set to plunge 76 per cent to between $6 million and $10 million.
  • The company has issued financial year 2023 guidance for EBITDA between $45 and $49 million on revenue up to $270 million.
 
BWX is my tip for July.
Probably with a rights price of 0.6, the price of BWX will reach below 50 cents by the end of July 22 making me a consecutive wooden spoon winner.
.
BWX is debt prone and ready for extinction with a remote chance of acquisition by others like MSB (my wish) to get the price up and up .
Shaw and Partners has reiterated their buy with a price target of $1.



Looking for fathomless bottom



Regal is still hopeful but to be seen how much they have put into the recent CR




 
BWX went further down without the impact of FMG investment.
I am putting it again for August tipping with a closing price of 68 cents.
Normally post CR the price goes down only to be up
.https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02544414-3A597614?access_token=83ff96335c2d45a094df02a206a39ff4
SPP was only 76 pc success.
Will see what happens by 31 Aug

 
BWX has cratered today after releasing their FY22 Financial Results and being reinstated to official quotation.

Frankly, their financials are a mess thanks in no small part to their ~$64 million of debt. They are now in a very difficult position and will need to reduce debt and slash operating costs. Not a lot of optimism surrounding BWX at the moment and this will weigh heavily on the share price in the near term.

Today the share price is down a whopping 46.83% to 33.5c but I expect it to fall further in early 2023. It will take a lot of manouvering for management to extricate the company from the mess they are now in and more bad news is likely in the coming months. Turning this company around will be very difficult.

 

Is this Twiggies Poseidon of the skin game?
 
Turning it around will be a breeze. Just have to bring in the administrators first and wipe out equity holders.... Seems like they only people who will be brave enough to pick the bottom will be those trading on insider knowledge about what the lenders plan for BWX. Forced asset sales? Conversion of debt to equity? What will it be? Net tangible assets are negative $0.32/share (negative $60 million or so?) - only good thing is the EBITDA they've forecast (if you believe them) is ok. It's that pesky debt level.

How many times do we see ASX listed mid-caps try and expand into other markets by purchasing random companies only to fail 18-36 months later? So rarely does it ever work out. Also, rarely does borrowing $$$ to pay a dividend work out either.

I was at an IGA today in Perth and noticed a sukin skincare rack off on its own (not in the beauty isle) with heavily discounted things like face wash for $5.99 save $10, and lotion packs for $14.99 save $16.
 
BWX entry for CY 23
This is one is the dog in my investment - a Titanic
Putting it for the CY 23 with a faint hope someone like Blackmore will take over the company as the price is too low and products are good to provide synergy to Blackmore's diversified product line
There have been incorrect projections from the company and a blow to investors (like me) but 11 months is a reasonable time to rise from Phoenix.
everything negative about this company anyway and sadly I do hold with an unbelievable paper loss.
some faint hopes from the Outlook published and watching the sales at Chemist Warehouse






 
Hi Miner…..

BWX only started trading again 20/12/22 after that 4 Mth Suspension…..That suspension created one of the Gaps on their Chart…..

Seems to have found a Fragile Base around the $0.16c to $0.18c area…..

Everything else suggests that BWX is in the “Basket Case Group” of stocks.....

Way too many Resistance Lines directly above the current SP for my liking.....



BWX’s Financials rate as Disgusting or Non-Existant…...
www.TradingView.com Analysts don't think much of BWX either...

Cheers..

DrB.
 
The Australian operations of ASX-listed BWX have been placed in voluntary administration, and the group is looking for a buyer for its controlling stake in the Go-To Skincare brand.

FTI Consulting was appointed voluntary administrator on Monday, effective immediately, after Commonwealth Bank declined to extend the terms of its loan with BWX for a fifth time,

The company was beset by “customer destocking and inventory and working capital issues”, according to BWX’s statement. “The directors believe entering voluntary administration will help progress the restructuring process already under way with new management at BWX and give the company the best chance of future profitability."
 
Classic case study of a business failure from poor management.

Noticed FTI is looking for MD. Just joining the dots.
This also sunk my investment on BWX, which already dived down 90% . Was hoping for a turn down even when it went 50% loss.
Stupidity happens and I am no exception. ?
 
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