All good points Umi. I agree with you.
I will work on my new model next week or two, to incorporate the update just provided.
For now, we note 2017 REBIT was 398m ex/ discontinued operations, up 24% y/y
The way things are going, it's entirely possible Umicore will be able to deliver REBIT growth rate of 30% for the next few years (or more?). Something like:
if we assume REBIT growing at 30%:
2017A 398m (REBIT ex/ discontinued)
With this kind of numbers and story, growth investors will pay forward 30 PE. If this stock was listed in NY Americans will pay 40 PE.
This is just the start of the Tsunami (EV and grid storage). The TAM is pretty amazing to think about. But as for Umicore, we don't need to think out too far because who knows how chemistry, or some other storage technology, will evolve. Technology wise, for now we just keep a close eye on NMC and NCA related developments (the tail I referred to). Toyota making noises with their solid state batteries, but for now I don't believe any of it till we see real prototypes, so far we have seen none. Nonetheless, this is tech investing
and with that change is a certainty
BTW, don't know if you know this, to keep up with Tesla and battery news, Fred Lambert does the best job at Electrek. You can get on his e-mail list here (there is so much news he does daily updates):https://electrek.co/
P.S. It is really strange it's just you and me here. If this stock was listed in NY there would be hundreds, perhaps thousands, of retail investors chatting about it on SA. I have been talking to myself on SA since Oct.
P.P.S. I changed my mind about Sprinter. He is a horse, not a dog. You watch the body and let me know if it's sick. I will watch the tail. Together we will ride Sprinter as he begins to run. And when he is about to trip we jump off.