Daniel Gladiš of Vltava Fund presented his in-depth investment thesis on Babcock International (UK: BAB) at European Investing Summit 2019.

Thesis summary:

Babcock International is a quality company that operates a relatively stable business with good margins and high market entry barriers. Strong FCF, a solid balance sheet, and historically low multiples make Babcock a compelling investment opportunity. The combination of country-specific, industry-specific, and company-specific negative sentiment is a probable, but also temporary, reason for the recent undervaluation.

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About the instructor:

Daniel Gladiš, based in the Czech Republic, has amassed a market-beating track record since starting VLTAVA Fund in 2004. VLTAVA Fund is a value-oriented, research-driven investment fund focused on investing in good companies run by quality management. Previously, Daniel was Director and Chairman of the Board of Directors of ABN AMRO Asset Management (Czech) from 1999–2004. He was also Director and founder of Atlantik finanční trhy, a.s., a member of the Prague Stock Exchange. Daniel is a graduate of VUT Brno and has authored the best-selling books Naučte se investovat (Learn to Invest) and Akciové investice (Stock Investments).