ICGE - MK 135 Mio. € - innerer Wert 700 Mio. € !
Noch ist es bis zu den Quartalsergebnissen für das vierte Quartal 2010 einige Zeit hin, aber man kann sich ja schon einmal Gedanken machen. Beginnen sollte man da vielleicht mit der wertvollsten Beteiligung ICGCommcerce, über die für das dritte das folgende berichtet wurde:
The partner-company with the highest value, ICGCommerce, the worldwide biggest pure play of procurement outsourcing, reported $26.3 million of revenue for the 3. quarter 2010. That was an increase of 28% over the third quarter of 2009. ICG Commerce’s EBITDA (excluding stock-based compensation and other unusual items) for this third quarter ended September 30, 2010 doubled to $5.4 million from $2.7 million in the third quarter of 2009.
Und positiv war auch, was sonst noch über die Geschehnisse im 3. Quartal berichtet wurde, was logischerweise auch ins vierte Quartal hineinwirkt:
And very positive was, what they additional reported about the third quarter: To see strong growth contiues, because the companies a looking for new forms of cost reductions to fund and increase their growth-rates.
Following highlights of the ICGCommerce activities during the 3. quarter was important:
- ICGCommerce won significant new customer, including 4 multi-year, multi-million dollar contracts from clients of Fortune 1000. This contracs contributed to more than $87 million (total contract value).
- ICGCommerce expanded his relationships with 3 existing clients, including Hertz and Pinnacle Foods.
- ICGCommerce get recognition as the only procurement provider of the top 50 global outsourcing providers in The Black Book of Outsourcing.
Nach meinen Schätzungen werden die Umsätze im vierten Quartal von 26,3 Millionen im dritten Quartal auf 28,1 Millionen klettern. Das EBITDA (excluding stock-based compensation and other unusual items) dürfte im vierten Quartal von 5,4 Millionen im dritten Quartal auf 6,2 Millionen klettern.
The partner-company with the highest value, ICGCommerce, the worldwide biggest pure play of procurement outsourcing, reported $26.3 million of revenue for the 3. quarter 2010. That was an increase of 28% over the third quarter of 2009. ICG Commerce’s EBITDA (excluding stock-based compensation and other unusual items) for this third quarter ended September 30, 2010 doubled to $5.4 million from $2.7 million in the third quarter of 2009.
Und positiv war auch, was sonst noch über die Geschehnisse im 3. Quartal berichtet wurde, was logischerweise auch ins vierte Quartal hineinwirkt:
And very positive was, what they additional reported about the third quarter: To see strong growth contiues, because the companies a looking for new forms of cost reductions to fund and increase their growth-rates.
Following highlights of the ICGCommerce activities during the 3. quarter was important:
- ICGCommerce won significant new customer, including 4 multi-year, multi-million dollar contracts from clients of Fortune 1000. This contracs contributed to more than $87 million (total contract value).
- ICGCommerce expanded his relationships with 3 existing clients, including Hertz and Pinnacle Foods.
- ICGCommerce get recognition as the only procurement provider of the top 50 global outsourcing providers in The Black Book of Outsourcing.
Nach meinen Schätzungen werden die Umsätze im vierten Quartal von 26,3 Millionen im dritten Quartal auf 28,1 Millionen klettern. Das EBITDA (excluding stock-based compensation and other unusual items) dürfte im vierten Quartal von 5,4 Millionen im dritten Quartal auf 6,2 Millionen klettern.
The rising tide that was the U.S. stock market in 2010 lifted many of the dinghies, trawlers, and supertankers of the Philadelphia corporate world.
But it's easy to see the dents and leaks left by the financial crisis and recession. The ranks of the good ship Inquirer/Bloomberg Philadelphia Index have been thinned significantly over the last three years.Delistings, acquisitions, and the relocation of corporate headquarters have all played a part in winnowing the index to 181 members.....
The second-best-performing local stock is a name from the dot-com bubble era, Internet Capital Group Inc. (NASDAQ:ICGE) Shares of the Wayne investor in business-to-business e-commerce companies rose 112 percent.
Still, that's a rather sane rise compared with Web 1.0's heyday, when Internet Capital's meteoric rise in market value was a sign of dot-com froth.
In January 2000, Internet Capital's market capitalization reached $45 billion, surpassing General Motors. (NYSE:GM) (TSX:GMM'U)
Once the Internet stock bubble burst, 99 percent of that shareholder value evaporated.
With a market cap of $518 million now, Internet Capital remains firmly behind a post-bankruptcy GM and its $54 billion market value.....
http://quotes.freerealtime.com/dl/frt/N?NewsStory=1
But it's easy to see the dents and leaks left by the financial crisis and recession. The ranks of the good ship Inquirer/Bloomberg Philadelphia Index have been thinned significantly over the last three years.Delistings, acquisitions, and the relocation of corporate headquarters have all played a part in winnowing the index to 181 members.....
The second-best-performing local stock is a name from the dot-com bubble era, Internet Capital Group Inc. (NASDAQ:ICGE) Shares of the Wayne investor in business-to-business e-commerce companies rose 112 percent.
Still, that's a rather sane rise compared with Web 1.0's heyday, when Internet Capital's meteoric rise in market value was a sign of dot-com froth.
In January 2000, Internet Capital's market capitalization reached $45 billion, surpassing General Motors. (NYSE:GM) (TSX:GMM'U)
Once the Internet stock bubble burst, 99 percent of that shareholder value evaporated.
With a market cap of $518 million now, Internet Capital remains firmly behind a post-bankruptcy GM and its $54 billion market value.....
http://quotes.freerealtime.com/dl/frt/N?NewsStory=1
Information den Kursanstieg um 112% noch besser verstehen und erkennen, dass da eigentlich meines Erachtens bis Ende 2011/Mitte 2012 noch einmal 112% drin sind, womit man allerdings immer erst bei 2% der Marktkapitalisierung des Jahres 2000 wäre, die man aber nicht mehr beachten sollte. Damit meine ich allerdings sowohl im positiven wie im negativen Sinne: Man wird nie wieder auch annähernd in die Nähe dieser Marktkapitalisierung kommen, aber es ist auch absurd, wie das fast 10 Jahre gelaufen ist, die Aktie mit einem Abschlag zu verteufeln, nur weil sich irgendwann einmal ganze Generation dabei verzockt haben und Frust blasen - entscheidend sind auf lange Sicht (bei Internet Capital war es allerdings eine sehr lange Sicht, die ich nie so lange eingeschätzt hätte) die Fundamentals:
http://messages.finance.yahoo.com/...66597&tof=1&frt=1#266597
http://messages.finance.yahoo.com/...66597&tof=1&frt=1#266597
ICGCommerce (Internet Capital hält 80%) "beschafft" auch:
Dass im Bereich der Beschaffung enorme Chancen liegen zeigt die Kursexplosion von Ariba in den letzten drei Monaten:
http://finance.yahoo.com/...ohlcvalues=0;logscale=on;source=undefined
Und die mit Abstand wertvollste Beteiligung von Internet Capital, ICGCommerce, ist der weltweit größte Pure Play im Bereich des Outsouring von Procurement, der nach 100 Millionen Umsatz (die fast identisch mit der Wertschöpfung sind, da fast keine Vorleistungen bezogen werden) in 2010 in 2011 zwischen 125 und 130 Millionen landen dürfte.
Dass im Bereich der Beschaffung enorme Chancen liegen zeigt die Kursexplosion von Ariba in den letzten drei Monaten:
http://finance.yahoo.com/...ohlcvalues=0;logscale=on;source=undefined
Und die mit Abstand wertvollste Beteiligung von Internet Capital, ICGCommerce, ist der weltweit größte Pure Play im Bereich des Outsouring von Procurement, der nach 100 Millionen Umsatz (die fast identisch mit der Wertschöpfung sind, da fast keine Vorleistungen bezogen werden) in 2010 in 2011 zwischen 125 und 130 Millionen landen dürfte.
Schlüsselrolle:
Und noch ein Vergleich mit Ariba 11:04 #5156
Die Erlöse von ICGCommerce machen in etwa 30% der Erlöse von Ariba aus (im vierten Quartal 2010: 90 Millionen bei Ariba und ca. 27 Millionen bei ICGCommerce). Würden wir jetzt 30% der 2,72 Milliarden von Ariba für ICGCommerce ansetzen, läge der Wert bei 816 Millionen für ICGCommerce.
Internet Capital hält 80% = 652 Millionen. Das sind allein schon 100 Millionen mehr als die momentane Marktkapitalisieurng von Internet Capital. Kostenlos gäbe es dann auch noch 130 Millionen Cash und die 9 anderen Beteiligungen neben IGGCommerce kostenlos dazu.
Handelsdaten von Ariba vom Freitag:
Last Trade: 30.34
Trade Time: Feb 11
Change: 0.12 (0.40%)
Prev Close: 30.22
Open: 30.01
Bid: 29.41 x 200
Ask: 31.19 x 300
1y Target Est: 29.33
Day's Range: 29.79 - 30.59
52wk Range: 11.43 - 30.59
Volume: 1,390,682
Avg Vol (3m): 1,052,650
Market Cap: 2.72B
P/E (ttm): 48.94
EPS (ttm): 0.62
Div & Yield: N/A (N/A
Und noch ein Vergleich mit Ariba 11:04 #5156
Die Erlöse von ICGCommerce machen in etwa 30% der Erlöse von Ariba aus (im vierten Quartal 2010: 90 Millionen bei Ariba und ca. 27 Millionen bei ICGCommerce). Würden wir jetzt 30% der 2,72 Milliarden von Ariba für ICGCommerce ansetzen, läge der Wert bei 816 Millionen für ICGCommerce.
Internet Capital hält 80% = 652 Millionen. Das sind allein schon 100 Millionen mehr als die momentane Marktkapitalisieurng von Internet Capital. Kostenlos gäbe es dann auch noch 130 Millionen Cash und die 9 anderen Beteiligungen neben IGGCommerce kostenlos dazu.
Handelsdaten von Ariba vom Freitag:
Last Trade: 30.34
Trade Time: Feb 11
Change: 0.12 (0.40%)
Prev Close: 30.22
Open: 30.01
Bid: 29.41 x 200
Ask: 31.19 x 300
1y Target Est: 29.33
Day's Range: 29.79 - 30.59
52wk Range: 11.43 - 30.59
Volume: 1,390,682
Avg Vol (3m): 1,052,650
Market Cap: 2.72B
P/E (ttm): 48.94
EPS (ttm): 0.62
Div & Yield: N/A (N/A
aufzugreifen:
ICGCommerce is an excellent company 25-Feb-11 01:26 pm Comprehensive Procurement Solution Provider Sees 20 Percent-Plus Revenue Growth for Sixth Consecutive Year
PHILADELPHIA – February 24, 2011 – ICG Commerce, the leading provider of comprehensive procurement solutions, continues to build significant momentum through new customers and expanded engagements as companies are increasingly recognizing that indirect goods and services offer a significant and untapped cost reduction opportunity. Revenues grew by 24 percent marking the sixth consecutive year of growth of 20 percent or more; total spend under management increased 26 percent to $17.2B.
“ICG Commerce experienced significant growth in 2010 due to its differentiated and specialized infrastructure which combines the expertise, market intelligence, technology and process that companies need to optimize spending and accelerate the realization of savings,” said Carl Guarino, the company’s chief executive officer. “The sluggish economy continues to challenge business leaders to find new ways to simultaneously grow revenues and profits. By partnering with ICG Commerce, our customers access a comprehensive solution that allows them to accelerate and maximize cost savings that can be used to fund innovation and growth and improve the bottom-line.”
ICG Commerce added customers across a range of industries, including high-technology, consumer products and food service entering into new multi-year engagements with global prestige beauty products company, Elizabeth Arden and with leading casual dining company, Brinker International.
To support ICG Commerce’s continued global growth, the company opened in 2010 new centers in Prague, Czech Republic and Sao Paolo, Brazil. Based on its leadership in the procurement arena, ICG Commerce has been recognized by the International Association of Outsourcing Professionals® (IAOP®) as one of the world’s best outsourcing service providers in the 2011 Global Outsourcing 100 program.
In order to further its leadership position, the company made several key infrastructure advancements throughout the year. To help customers accelerate and maximize savings realization, ICG Commerce enhanced its proprietary technology platform adding new functionality that guides best-in-class sourcing, contracting, buying and on-going category management processes and provides unparalleled visibility into spending, compliance and realized savings. ICG Commerce also expanded its workforce comprised of dedicated procurement and category specialists by 20 percent and launched a first of its kind procurement leadership development program, focused on building exceptional leadership skills coupled with deep procurement expertise.
The company has also continued to invest in growing its business in the consumer products (CP) industry. The company bolstered its CP expertise by hiring industry veteran Thomas Bornemann to lead its CP practice and the addition of Pat Peters, a former top executive with Unilever, to its Consumer Products Executive Advisory Board.
“CP companies are committed to tapping into sustainable sources of savings that can be reinvested in new product development and new market penetration,” said Thomas Bornemann, consumer practice lead at ICG Commerce. “At ICG Commerce, we deeply understand CP market conditions and have developed our solution to help companies optimize spending in strategic areas such as Marketing, Logistics and IT while they focus on combating core commodity cost inflation and meeting the needs of the increasingly value focused consumer.”
In 2010, this focus resulted in a total of four new CP customers, including Elizabeth Arden. The addition of these new customers underscores a growing trend among consumer products companies to partner with comprehensive procurement solution providers to address complex areas of spend that are difficult to manage with traditional procurement approaches.
ICGCommerce is an excellent company 25-Feb-11 01:26 pm Comprehensive Procurement Solution Provider Sees 20 Percent-Plus Revenue Growth for Sixth Consecutive Year
PHILADELPHIA – February 24, 2011 – ICG Commerce, the leading provider of comprehensive procurement solutions, continues to build significant momentum through new customers and expanded engagements as companies are increasingly recognizing that indirect goods and services offer a significant and untapped cost reduction opportunity. Revenues grew by 24 percent marking the sixth consecutive year of growth of 20 percent or more; total spend under management increased 26 percent to $17.2B.
“ICG Commerce experienced significant growth in 2010 due to its differentiated and specialized infrastructure which combines the expertise, market intelligence, technology and process that companies need to optimize spending and accelerate the realization of savings,” said Carl Guarino, the company’s chief executive officer. “The sluggish economy continues to challenge business leaders to find new ways to simultaneously grow revenues and profits. By partnering with ICG Commerce, our customers access a comprehensive solution that allows them to accelerate and maximize cost savings that can be used to fund innovation and growth and improve the bottom-line.”
ICG Commerce added customers across a range of industries, including high-technology, consumer products and food service entering into new multi-year engagements with global prestige beauty products company, Elizabeth Arden and with leading casual dining company, Brinker International.
To support ICG Commerce’s continued global growth, the company opened in 2010 new centers in Prague, Czech Republic and Sao Paolo, Brazil. Based on its leadership in the procurement arena, ICG Commerce has been recognized by the International Association of Outsourcing Professionals® (IAOP®) as one of the world’s best outsourcing service providers in the 2011 Global Outsourcing 100 program.
In order to further its leadership position, the company made several key infrastructure advancements throughout the year. To help customers accelerate and maximize savings realization, ICG Commerce enhanced its proprietary technology platform adding new functionality that guides best-in-class sourcing, contracting, buying and on-going category management processes and provides unparalleled visibility into spending, compliance and realized savings. ICG Commerce also expanded its workforce comprised of dedicated procurement and category specialists by 20 percent and launched a first of its kind procurement leadership development program, focused on building exceptional leadership skills coupled with deep procurement expertise.
The company has also continued to invest in growing its business in the consumer products (CP) industry. The company bolstered its CP expertise by hiring industry veteran Thomas Bornemann to lead its CP practice and the addition of Pat Peters, a former top executive with Unilever, to its Consumer Products Executive Advisory Board.
“CP companies are committed to tapping into sustainable sources of savings that can be reinvested in new product development and new market penetration,” said Thomas Bornemann, consumer practice lead at ICG Commerce. “At ICG Commerce, we deeply understand CP market conditions and have developed our solution to help companies optimize spending in strategic areas such as Marketing, Logistics and IT while they focus on combating core commodity cost inflation and meeting the needs of the increasingly value focused consumer.”
In 2010, this focus resulted in a total of four new CP customers, including Elizabeth Arden. The addition of these new customers underscores a growing trend among consumer products companies to partner with comprehensive procurement solution providers to address complex areas of spend that are difficult to manage with traditional procurement approaches.
Sehr positiv für einige Beteiligungen von Internet Capital ist die folgende Entwicklung, über die man heute in Euro am Sonntag lesen konnte:
"Onlinehandel - Verdreifachtung wahrscheinlich
"In diesem Jahrzehnt wird sich der Handel im Internet (E-Commerce) weltweit auf drei Billionen Dollar verdreifachen. Sein Anteil am Gesamthandel soll von vier auf zehn Prozent steigen."
Insbesondere die Beteiligungen Channelintelligence, Whitefence, Clickequations und Acquirgy werden davon profitieren.
"Onlinehandel - Verdreifachtung wahrscheinlich
"In diesem Jahrzehnt wird sich der Handel im Internet (E-Commerce) weltweit auf drei Billionen Dollar verdreifachen. Sein Anteil am Gesamthandel soll von vier auf zehn Prozent steigen."
Insbesondere die Beteiligungen Channelintelligence, Whitefence, Clickequations und Acquirgy werden davon profitieren.
mehr wert als die momentane Marktkapitalisierung von Internet Capital. 130 Millionen Kasse/Wertpapiere und die anderen 9 privaten Beteiliungen neben den 80% an ICGCommerce gibt es dann sogar noch umsonst dazu.
Ein Umsatzvergleich mit Ariba: Revenues of Ariba in 2010 = 376 million.
http://finance.yahoo.com/q/is?s=ARBA
Revenues of ICGCommerce was 101.1 million in 2010 . That growth of revneues to $101.1 million is an increase of 24% compared with 2009.
101,1 Millionen bei ICGCommerce stehen also 376 Millionen bei Ariba gegenüber. Und den Vergleich kann man fortsetzen: Die Marktkapitalisierung von Ariba ist zur Zeit 2,73 Millarden (=2.730 Millionen)
Ariba, Inc.(NasdaqGS: ARBA )
Real Time 30.34 0.52 (1.74%) 2:41PM EST
Last Trade: 30.46
Trade Time: 2:27PM EST
Change: 0.64 (2.15%)
Prev Close: 29.82
Open: 29.89
Bid: 30.43 x 800
Ask: 30.46 x 300
1y Target Est: 30.44
Day's Range: 29.81 - 30.50
52wk Range: 11.73 - 31.48
Volume: 762,661
Avg Vol (3m): 1,099,800
Market Cap: 2.73B
P/E (ttm): 49.14
EPS (ttm): 0.62
Div & Yield: N/A (N/A)
Würden die 101.1 Millionen Umsatz so bewertet wie die 376 Millionen von Ariba, müsste díe Bewertung von ICGCommerce bei 734 Millionen liegen.
Die 80% von Internet Capital an ICGCommercehätten dann einen Wert von 587 Millionen.
Dann hätten allein die 80% an ICGCommerce schon einen höheren Wert als die gesamte momentane Marktkapitalisierung von Internet Capital. Zusätzlich umsonst gabe es noch die anderen 9 privaten Beteiligungen neben ICGCommerce und 130 Millionen Cash/Aktien mit hinzu.
Ein Umsatzvergleich mit Ariba: Revenues of Ariba in 2010 = 376 million.
http://finance.yahoo.com/q/is?s=ARBA
Revenues of ICGCommerce was 101.1 million in 2010 . That growth of revneues to $101.1 million is an increase of 24% compared with 2009.
101,1 Millionen bei ICGCommerce stehen also 376 Millionen bei Ariba gegenüber. Und den Vergleich kann man fortsetzen: Die Marktkapitalisierung von Ariba ist zur Zeit 2,73 Millarden (=2.730 Millionen)
Ariba, Inc.(NasdaqGS: ARBA )
Real Time 30.34 0.52 (1.74%) 2:41PM EST
Last Trade: 30.46
Trade Time: 2:27PM EST
Change: 0.64 (2.15%)
Prev Close: 29.82
Open: 29.89
Bid: 30.43 x 800
Ask: 30.46 x 300
1y Target Est: 30.44
Day's Range: 29.81 - 30.50
52wk Range: 11.73 - 31.48
Volume: 762,661
Avg Vol (3m): 1,099,800
Market Cap: 2.73B
P/E (ttm): 49.14
EPS (ttm): 0.62
Div & Yield: N/A (N/A)
Würden die 101.1 Millionen Umsatz so bewertet wie die 376 Millionen von Ariba, müsste díe Bewertung von ICGCommerce bei 734 Millionen liegen.
Die 80% von Internet Capital an ICGCommercehätten dann einen Wert von 587 Millionen.
Dann hätten allein die 80% an ICGCommerce schon einen höheren Wert als die gesamte momentane Marktkapitalisierung von Internet Capital. Zusätzlich umsonst gabe es noch die anderen 9 privaten Beteiligungen neben ICGCommerce und 130 Millionen Cash/Aktien mit hinzu.
Excellent numbers of ICGCommerce
• 2010 revenues grew 24% to $101.1 million compared with 2009
• 2010 EBITDA increased to $17.1 million from $13.4 million in 2009
• Cash position at year end was $17 million
• Signed 6 new clients and expanded relationships with 6 existing clients in 2010, yielding $112.5 million in total contract value and bringing total backlog to nearly $300 million
• 4 of the 6 new clients were in the consumer products sector, where the company has established a vertical go-to-market model that will be extended to other sectors in 2011
• Total spend under management grew to $17.1 billion compared to $13.6 billion at the end of 2009
• Recruited Joe Waterman as Chief Financial Officer
Und besonders glänzte das letzte Quartal, das vierte Quartals 2010:
And the good developement increase from quarter to quarter in 2010
- Revenues in the fourth quarter of 2010 was $28.5 million
- This numbers representing an increase of 25% over the comparable 2009 period.
- The EBITDA of ICGCommerce, excluding stock-based compensation and unusual items, for the quarter ended December 31, 2010 increased to $6.4 million, up from $4.9 million in the comparable 2009 period. Text zur Anzeige gekürzt. Gesamtes Posting anzeigen >>>
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Jetzt am Börsenspiel teilnehmen! Libuda: Und auch Starcite entwickelt sich nach einer 22:32 #5170 Durststrecke während der Krise inzwischen wieder hervorragend, wie der Quartalsbericht von Internet Capital zeigt:
Greath fourth quarter of Starcite after some quarters of stagnation
• 73% increase in corporate meeting RFPs
• Added a large number of newcorporate clients across all industry sectors
• Demonstrated strong growth within existing client base in the 4thquarter, signing several five-year commitments and expanding global meetings solutions to Europe and Asia
• Supplier division experienced a very strongquarter in Q4,signing 3 very large deals (over $1 million each) with major worldwide hotel chains, along with several other new deals with a number of leading brands
• Continued to expand industry partnerships in 2010, including Orbitz, Experientand American Express
Sentiment : Strong Buy
• 2010 revenues grew 24% to $101.1 million compared with 2009
• 2010 EBITDA increased to $17.1 million from $13.4 million in 2009
• Cash position at year end was $17 million
• Signed 6 new clients and expanded relationships with 6 existing clients in 2010, yielding $112.5 million in total contract value and bringing total backlog to nearly $300 million
• 4 of the 6 new clients were in the consumer products sector, where the company has established a vertical go-to-market model that will be extended to other sectors in 2011
• Total spend under management grew to $17.1 billion compared to $13.6 billion at the end of 2009
• Recruited Joe Waterman as Chief Financial Officer
Und besonders glänzte das letzte Quartal, das vierte Quartals 2010:
And the good developement increase from quarter to quarter in 2010
- Revenues in the fourth quarter of 2010 was $28.5 million
- This numbers representing an increase of 25% over the comparable 2009 period.
- The EBITDA of ICGCommerce, excluding stock-based compensation and unusual items, for the quarter ended December 31, 2010 increased to $6.4 million, up from $4.9 million in the comparable 2009 period. Text zur Anzeige gekürzt. Gesamtes Posting anzeigen >>>
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Jetzt am Börsenspiel teilnehmen! Libuda: Und auch Starcite entwickelt sich nach einer 22:32 #5170 Durststrecke während der Krise inzwischen wieder hervorragend, wie der Quartalsbericht von Internet Capital zeigt:
Greath fourth quarter of Starcite after some quarters of stagnation
• 73% increase in corporate meeting RFPs
• Added a large number of newcorporate clients across all industry sectors
• Demonstrated strong growth within existing client base in the 4thquarter, signing several five-year commitments and expanding global meetings solutions to Europe and Asia
• Supplier division experienced a very strongquarter in Q4,signing 3 very large deals (over $1 million each) with major worldwide hotel chains, along with several other new deals with a number of leading brands
• Continued to expand industry partnerships in 2010, including Orbitz, Experientand American Express
Sentiment : Strong Buy
längeren Durststrecke während der Krise inzwischen wieder hervorragend, wie der Quartalsbericht von Internet Capital zeigt:
Greath fourth quarter of Starcite after some quarters of stagnation
• 73% increase in corporate meeting RFPs
• Added a large number of newcorporate clients across all industry sectors
• Demonstrated strong growth within existing client base in the 4thquarter, signing several five-year commitments and expanding global meetings solutions to Europe and Asia
• Supplier division experienced a very strongquarter in Q4,signing 3 very large deals (over $1 million each) with major worldwide hotel chains, along with several other new deals with a number of leading brands
• Continued to expand industry partnerships in 2010, including Orbitz, Experientand American Express
Greath fourth quarter of Starcite after some quarters of stagnation
• 73% increase in corporate meeting RFPs
• Added a large number of newcorporate clients across all industry sectors
• Demonstrated strong growth within existing client base in the 4thquarter, signing several five-year commitments and expanding global meetings solutions to Europe and Asia
• Supplier division experienced a very strongquarter in Q4,signing 3 very large deals (over $1 million each) with major worldwide hotel chains, along with several other new deals with a number of leading brands
• Continued to expand industry partnerships in 2010, including Orbitz, Experientand American Express
Geschichte noch nicht berichtet:
http://www.icg.com/default/assets/File/...rts/Financials4Q10_supp.pdf
http://www.icg.com/default/assets/File/...rts/Financials4Q10_supp.pdf
der drei konsilidierten Beteiligungen erkennbar: ICGCommerce, Govdelivery and Investoreforce
1. quarter 2009: 21.290 million
2. quarter 2009: 22.085 million
3. quarter 2009: 23.273 million
4. quarter 2009: 26.025 million
1. quarter 2010: 26.589 million
2. quarter 2010: 27.324 million
3. quarter 2010: 30.638 million
4. quarter 2010: 33.114 million
1. quarter 2009: 21.290 million
2. quarter 2009: 22.085 million
3. quarter 2009: 23.273 million
4. quarter 2009: 26.025 million
1. quarter 2010: 26.589 million
2. quarter 2010: 27.324 million
3. quarter 2010: 30.638 million
4. quarter 2010: 33.114 million
Das ist in einem Jahr und 9 Monaten immerhin ein Wachstum von 55,5%.
Wertvoll ist außerdem auch diese Information, obwohl Ihr die durch mein Posten allerdings mitbekommen haben könntet, aber nicht ganz so konzentriert:
Our Core Consolidated Companies (including ownership % and 2010 revenue range in parentheses) consist of: GovDelivery, Inc. (93%) ($10-$20 million), ICG Commerce Holdings, Inc.(80%) ($100-$110 million) and Investor Force Holdings, Inc. (76%) (<$10 million).
Wertvoll ist außerdem auch diese Information, obwohl Ihr die durch mein Posten allerdings mitbekommen haben könntet, aber nicht ganz so konzentriert:
Our Core Consolidated Companies (including ownership % and 2010 revenue range in parentheses) consist of: GovDelivery, Inc. (93%) ($10-$20 million), ICG Commerce Holdings, Inc.(80%) ($100-$110 million) and Investor Force Holdings, Inc. (76%) (<$10 million).
Nicht so gut wie bei den drei konsolidierten Kernbeteiligungen lieft es bei vier Equity-Kernbeteiligungen Starcite, Channelintelligence, Whifence und Freeborders, wo die Umsätze in dem einen Jahr und den neun Monaten nur um vier Prozent stiegen, was auf die Stagnation bei Starcite, Whitefence und Freeborders zurückzuführen ist, während Channelintelligence auch in Krise gewachsen ist. Aber laut dem letzten Quartalsbericht sind im vierten Quartal 2010 ja bekanntlich alle sieben Kernbeteiligungen gewachsen.
1. quarter 2009: 29.410 million
2. quarter 2009: 29.078 million
3. quarter 2009: 29.025 million
4. quarter 2009: 29.071 million
1. quarter 2010: 27.001 million
2. quarter 2010: 26.769 million
3. quarter 2010: 28.507 million
4. quarter 2010: 30.327 million
1. quarter 2009: 29.410 million
2. quarter 2009: 29.078 million
3. quarter 2009: 29.025 million
4. quarter 2009: 29.071 million
1. quarter 2010: 27.001 million
2. quarter 2010: 26.769 million
3. quarter 2010: 28.507 million
4. quarter 2010: 30.327 million
Auch hier wertvoll wie in meinem vorletzten Posting diese nachstehende Information, obwohl Ihr die durch mein Posten allerdings schon habt, aber nicht ganz so konzentriert:
Our Core Equity Companies (including ownership % and 2010 revenue range in parentheses) consist of: Channel Intelligence, Inc. (50%) ($20-$30 million), Freeborders, Inc. (31%) ($20-$30 million), StarCite, Inc. (36%) ($40-$50 million) and WhiteFence, Inc. (36%) ($10-$20 million). Rounding to nearest percentage results in ICG ownership in Channel Intelligence, Inc. rounding up to 50%.
Our Core Equity Companies (including ownership % and 2010 revenue range in parentheses) consist of: Channel Intelligence, Inc. (50%) ($20-$30 million), Freeborders, Inc. (31%) ($20-$30 million), StarCite, Inc. (36%) ($40-$50 million) and WhiteFence, Inc. (36%) ($10-$20 million). Rounding to nearest percentage results in ICG ownership in Channel Intelligence, Inc. rounding up to 50%.
Auch nach dem Verkauf von Metastorm kommen die verbliebenen sieben Kernbeteiligungen im vierten Quartal noch auf einen Quartalsumsatz von über 63 Millionen.
If you add the 33.114 million revenuess of the three consolidated core-companies and the 30.327 million of the four equity-core-companies = 63.441 million in the fourth quarter of 2010.
If you add the 33.114 million revenuess of the three consolidated core-companies and the 30.327 million of the four equity-core-companies = 63.441 million in the fourth quarter of 2010.
In the quarterly report Internet Capital reported in its guidance from 21%-26% revenue growth for the consolidated core - similar I expect for the equity, maybe a litte bit lower. Therefore I use in my estimate of the revenues in 2011 a growth-rate of the revenues from quarter to quarter of 5%. In my last posting, I had reported about 63.4 million in the fourth quarter of 2010.
And here my estimates for the four quarters of 2011:
1. quarter of 2011: 66.6 million
2. quarter of 2011: 69.9 million
3. quarter of 2011: 73.4 million
4. quarter of 2011: 77.0 million
Das sind zusammen 287 Millionen Umsatz in 2011
And here my estimates for the four quarters of 2011:
1. quarter of 2011: 66.6 million
2. quarter of 2011: 69.9 million
3. quarter of 2011: 73.4 million
4. quarter of 2011: 77.0 million
Das sind zusammen 287 Millionen Umsatz in 2011
Die anteiligen Umsätze von 155 Millionen in 2010 für die Partnergesellschaften entsprechen exakt meine früheren Schäzungen von 180 Millionen, da Metastorm zu Cash gemacht wurde - und Metastorm hatte ca. 75 Millionen Umsatz und Internet Capital war dort mit 33% beteiligt.
Aber jetzt noch einmal alles im Detail: Die obigen 287 Millionen von den Kernbeteiligungen und die 23 Millionen von den Venture-Beteiligungen ergeben zusammen 310 Millionen. Die mit den Umsätzen gewichtete Beteiligungsquote dürfte inzwischen bei ca 50% liegen (vielleicht etwas höher) = anteilige Umsätze von 155 Millionen von den jetzt nur noch nun Partnergesellschaften.
Bei einem sehr konserativen Bewertungsansatz mit einem Mutiple von 4, denn die Ansätze für den Beteiligungen von Internet Capital vergleichbare Unternehmen liegen wesentlich höher, ergibt sich für die 10 Beteiligungen ein Wert von 620 Millionen. Addiert man zu diesen 620 Millionen die liquiden Mittel in Höhe von 135 Millionen kommt man auf einen Betrag von 755 Millionen.
Dividiert man diese 755 Millionen durch die umlaufenden 37 Millionen Aktien ergibt sich der obige Wert, nämlich ganz genau = 20,4 Dollar pro Aktie.
Aber jetzt noch einmal alles im Detail: Die obigen 287 Millionen von den Kernbeteiligungen und die 23 Millionen von den Venture-Beteiligungen ergeben zusammen 310 Millionen. Die mit den Umsätzen gewichtete Beteiligungsquote dürfte inzwischen bei ca 50% liegen (vielleicht etwas höher) = anteilige Umsätze von 155 Millionen von den jetzt nur noch nun Partnergesellschaften.
Bei einem sehr konserativen Bewertungsansatz mit einem Mutiple von 4, denn die Ansätze für den Beteiligungen von Internet Capital vergleichbare Unternehmen liegen wesentlich höher, ergibt sich für die 10 Beteiligungen ein Wert von 620 Millionen. Addiert man zu diesen 620 Millionen die liquiden Mittel in Höhe von 135 Millionen kommt man auf einen Betrag von 755 Millionen.
Dividiert man diese 755 Millionen durch die umlaufenden 37 Millionen Aktien ergibt sich der obige Wert, nämlich ganz genau = 20,4 Dollar pro Aktie.
Dazu konnte man in der Ausgabe von Euro am Sonntag vom vorigen Wochenende folgendes lesen:
"Während der Dotcom-Blase erreichte der Tech-Pulse-Index, der Indikatoren wie Beschäftigung, Investitionen und Produktion im Technologiesektor misst, bei 120 Punkten seinen Höchststand. Diesem Wert nähert er sich momentan wieder an. Doch der aktuelle Technologieboom ist an der Börse bisher weniger euphorisch aufgenommen worden als zum Jahrtausendwechsel, als sich viele Anleger mit Techtiteln die Finger verbrannten. Diese wurden damals im S&P 500 zum 77-Fachen des letzten Unternehmensgewinns (KGV) gehandelt, heute nur zum 17-fachen."
"Während der Dotcom-Blase erreichte der Tech-Pulse-Index, der Indikatoren wie Beschäftigung, Investitionen und Produktion im Technologiesektor misst, bei 120 Punkten seinen Höchststand. Diesem Wert nähert er sich momentan wieder an. Doch der aktuelle Technologieboom ist an der Börse bisher weniger euphorisch aufgenommen worden als zum Jahrtausendwechsel, als sich viele Anleger mit Techtiteln die Finger verbrannten. Diese wurden damals im S&P 500 zum 77-Fachen des letzten Unternehmensgewinns (KGV) gehandelt, heute nur zum 17-fachen."
ICGE
Internet Capital Group, Inc. NASDAQ-GS
Institutional Holdings Description | Hide Summary
Company Details
Total Shares Out Standing (millions): 37
Market Capitalization ($ millions): $457
Institutional Ownership: 83.3%
Price (as of 3/18/2011) 12.33
Ownership Analysis # Of Holders Shares
Total Shares Held: 122 30,871,623
New Positions: 11 553,158
Increased Positions: 36 2,723,161
Decreased Positions: 56 2,464,688
Holders With Activity: 92 5,187,849
Sold Out Positions: 17 1,281,089
Click on the column header links to resort ascending () or descending ().
Owner Name
Select a name below for more information. Date Shares Held Change
(Shares) % Change
(Shares) Value
($1000)
FMR LLC 12/31/2010 3,800,020 (10,180) (0.27%) $46,854
CAPITAL WORLD INVEST... 12/31/2010 3,096,000 0 0.00% $38,174
DIMENSIONAL FUND ADV... 12/31/2010 3,009,553 (33,650) (1.11%) $37,108
BLAIR WILLIAM & CO/I... 12/31/2010 2,576,922 1,218,935 89.76% $31,773
COLUMBIA PARTNERS L ... 12/31/2010 2,047,392 (204) (0.01%) $25,244
Internet Capital Group, Inc. NASDAQ-GS
Institutional Holdings Description | Hide Summary
Company Details
Total Shares Out Standing (millions): 37
Market Capitalization ($ millions): $457
Institutional Ownership: 83.3%
Price (as of 3/18/2011) 12.33
Ownership Analysis # Of Holders Shares
Total Shares Held: 122 30,871,623
New Positions: 11 553,158
Increased Positions: 36 2,723,161
Decreased Positions: 56 2,464,688
Holders With Activity: 92 5,187,849
Sold Out Positions: 17 1,281,089
Click on the column header links to resort ascending () or descending ().
Owner Name
Select a name below for more information. Date Shares Held Change
(Shares) % Change
(Shares) Value
($1000)
FMR LLC 12/31/2010 3,800,020 (10,180) (0.27%) $46,854
CAPITAL WORLD INVEST... 12/31/2010 3,096,000 0 0.00% $38,174
DIMENSIONAL FUND ADV... 12/31/2010 3,009,553 (33,650) (1.11%) $37,108
BLAIR WILLIAM & CO/I... 12/31/2010 2,576,922 1,218,935 89.76% $31,773
COLUMBIA PARTNERS L ... 12/31/2010 2,047,392 (204) (0.01%) $25,244