I wanted to take a closer look for some time. Finally started some weeks ago and already bought a (starter?) position …
This is not investment advice. Please read the disclaimer. I might own discussed stock(s) currently or at a later time.
Polish waste management company Mo-BRUK has its assets in place to benefit greatly from the European and Polish push for a greener and more circular economy. Broader ESG trends should act as a secular tailwind. MBR has a decent quality but is priced for no growth or stark unit price declines which do not seem that likely considering recent political developments in Poland. A sustained growth case with strong profitability is certainly not priced in.
Mo-BRUK SA is a Polish company offering waste management services. The company collects, recovers, and disposes of hazardous and non-hazardous waste. Mo-BRUK also constructs concrete roads, owns, and operates gasoline filling stations, vehicle inspection stations, and car washes.
Its ordinary shares (MBR PW) were first listed in 2010. Non-listed preferred shares exist and come with two voting rights a share. Its market capitalization sits at a small PLN 1.3bn or USD 330m.
The company post very high returns on equity or ROE for the last few quarters and seems to have ample growth potential, which should be very profitable at such a ROE level. Overall, it might resemble Waste Management (WM US) or some of its attributes. …
I own Mo-BRUK stocks (MBR PW).
Addendum: I believe utilization is the one (more or less) controllable key variable that the company/management needs to maximize. I thought about it when re-reading somewhere that most companies have one (or a few) economic variables that they neeed to maximize or minimize to create a lot of economic value.
Addendum2: I found a great write up on VIC. It is the same from SA, but comes with a few great message threats which offer true insights, incl. one negative message that likely resulted in a sell-off, but was later refuted. Sadly, I do not remeber, if I looked for VIC write-ups. If I did, the write-up might have been still behing the 6-months wall.
Nov 9, 2021: Strong 9m-2021 results. Slides are beautiful for include less useful details (thread)