Video: SOM FY18 results presentation

Friday, Mar 29 2019 by

FY18 results presentation given by Jack Cooney (CEO), Howard Hohman (EVP Sales) and John Yuncza (CFO) (final results to 31st December 2018.)

Forward order visability now 1 year (previous 6 mths). Clear strategy. New market: high rises, being developed.

Unlock this article instantly by logging into your account

Don’t have an account? Register for free and we’ll get out your way


As per our Terms of Use, Stockopedia is a financial news & data site, discussion forum and content aggregator. Our site should be used for educational & informational purposes only. We do not provide investment advice, recommendations or views as to whether an investment or strategy is suited to the investment needs of a specific individual. You should make your own decisions and seek independent professional advice before doing so. The author may own shares in any companies discussed, all opinions are his/her own & are general/impersonal. Remember: Shares can go down as well as up. Past performance is not a guide to future performance & investors may not get back the amount invested.

Do you like this Post?
8 thumbs up
0 thumbs down
Share this post with friends

Somero Enterprises, Inc. is a manufacturer of laser-guided equipment. The Company's equipment automates the process of spreading and leveling volumes of concrete for commercial flooring and other horizontal surfaces, such as paved parking lots in North America. The Company's products include S-22E, S-15R, S-15M, STS-11M, S-840, S-485, CopperHead XD 3.0, Mini Screed C, PowerRake 3.0, 3-D Profiler and SiteShape. Its Somero Floor Levelness System monitors Laser Screed performance, operator performance and reports alert percentages of issues. The Somero SiteShape System allows for grade shaping automatically using users' motor grader, dozer or other grading machine. The Somero 3-D Profiler System allows automatic paving of contoured sites using a Somero Laser Screed equipment. The CopperHead XD machine encounters applications, such as chaired rebar, low slump and poor subgrades. The Somero eXtreme Platform (SXP) allows users use their Laser Screed equipment. more »

LSE Price
Mkt Cap (£m)
P/E (fwd)
Yield (fwd)

  Is LON:SOM fundamentally strong or weak? Find out More »

8 Posts on this Thread show/hide all

dmcarver 9th Apr 1 of 8

Very impressive presentation. As a new investor, both reassuring and compelling. I look forward to an opportunity to meet a member of management on one of their next trips to Europe.

| Link | Share
pgs501 7th May 2 of 8

Really good presentation, thanks for the link. Having recently received my SOM dividend it came in at less than I expected and if anyone could clarify that I am not missing something I would appreciate it:

Announced dividend: 25.2 cents / share (11.7 special & 13.5 final)
FX rate on 26/04/19 (the payment date, I actually received mine on 30/4): 0.77547 GBP / USD
GBP dividend: 19.54 GBp / share

My actual receipt: 13.39 GBp / share
% of expected: 69%

I know the US has withholding taxes on shares but I thought that having filled out a W-8BEN form that was 15%, is this not the case? In addition if there is any way to get any of this difference back could someone let me know.


| Link | Share | 1 reply
buz 7th May 3 of 8

In reply to post #473981

I would assume you are holding the shares outside of an SIPP ?

| Link | Share | 1 reply
pgs501 7th May 4 of 8

In reply to post #474001

Hi Buz,

Yes sorry shares held in an Iweb ISA.


| Link | Share | 2 replies
barney100 7th May 5 of 8

In reply to post #474036

Hi Pete,

Something does seem amiss with your payment.

I hold mine in my AJB SIPP and I received the equivalent of 19.35p a share (after a small charge foe currency conversion)

As an aside I have not as yet filled out a W-8BEN but this does not seem to have been an issue.

Hope this helps

| Link | Share | 1 reply
Jamboreebop 7th May 6 of 8

In reply to post #474096

This is an iWeb issue that's been discussed over on the SOM board at ADVFN. When queried, It appears that iWeb are not interested in reclaiming the witholding tax for their customers.

With a filled in W-8BEN in an ISA most other brokers are deducting 15% tax, rather than the 30% with iWeb.

| Link | Share | 1 reply
pgs501 7th May 7 of 8

In reply to post #474121

Thanks for the answers, I appreciate them. I will pester Iweb but I appreciate it may be to no avail. I have to say this totally changes whether Iweb are a cheap or expensive.


| Link | Share
Weasel 7th May 8 of 8

In reply to post #474036

Hi Pete,

Firstly, commiserations on holding Somero in an ISA with Iweb. I made the same mistake. We have just had the pleasure of donating 30% of our dividends to the IRS.

Iweb have made "a business decision" that W8-BEN's do no apply to Somero shares, thus they deduct the full 30% US Withholdings Tax (WHT). They do the same if you hold it in a SIPP even though WHT is not supposed to apply to shares held in pensions. I spoke to them at length about it and the only semblance of a logical answer I could get was it was "a business decision" on their part. It does seem very strange that they are about the only broker I know who have decided that their clients would like to pay unnecessary tax to the American tax authorities, and who have then gone and deducted it from their dividends. They even have the cheek to show no tax as having been deducted on the breakdown form if you click on the dividend amount.

It's p**s poor on Iweb's part, and I told them that in no uncertain terms. Not only to do it but to not own up to it by showing the tax as having been deducted.

Additionally, as the holdings are in an ISA (and a SIPP in my case) the tax can't be written off against UK tax. We have just helped Donald build a tiny part of his wall.

I did suggest Iweb put a note on their system to inform clients that Somero dividends will attract the full 30% regardless. At least that way in future people will know they are going to hit with US WHT. I won't hold my breath.

Ohh and for the record, one of the people I spoke to did tell me that Somero was the first and only share she had come across that had this issue. That did cheer up mightily.

| Link | Share

Please subscribe to submit a comment

 Are LON:SOM's fundamentals sound as an investment? Find out More »

Stock Picking Tutorial Centre

Let’s get you setup so you get the most out of our service
Done, Let's add some stocks
Brilliant - You've created a folio! Now let's add some stocks to it.

  • Apple (AAPL)

  • Shell (RDSA)

  • Twitter (TWTR)

  • Volkswagon AG (VOK)

  • McDonalds (MCD)

  • Vodafone (VOD)

  • Barratt Homes (BDEV)

  • Microsoft (MSFT)

  • Tesco (TSCO)
Save and show me my analysis