Patrick Schäfer · 2024-12-12T09:53:14.561086Z

Small additional purchase. Position now actually full for the time being. Should it fall another 8%, another tranche will be bought.

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I think there will be huge potential in the future due to global warming.
The population continues to grow and wants to be fed.
That's why I'm not writing Bayer off completely.

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Patrick Schäfer@Hotte1909

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@Tenbagger2024 Bayer has the very big problem of glyphosate. This will accompany the share for a few more years. Although it has to be said that glyphosate was great for weed control. What was once done with glyphosate is now done with 3 different products. Mind you, at 3 different times. So I drive across the field three times what I did once back then. But that's another topic....

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Tenbagger-Capital@Tenbagger-Capital

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@Hotte1909
I believe that $DE is also far ahead in terms of technology. And they are working more and more on recognizing and destroying weeds.

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Tenbagger-Capital@Tenbagger-Capital

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@Memo0606
Also a beautiful company

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Patrick Schäfer@Hotte1909

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@Tenbagger2024 Yes, John Deere is way ahead when it comes to weed control with spot spraying. In fact, I wouldn't know right now whether Amazone or whatever they're all called have similar systems. We don't spray ourselves either, the contractor does it for us, so I'm not that familiar with it.
On the other hand, Deere's driving assistants aren't so bombastic. So it's now really difficult for me to invest in agricultural machinery. It's very difficult for me to assess what will prevail in the future, even though I sit on some kind of tractor almost every day. Every manufacturer brings out something new from time to time. We've now got a new Claas Axion 950, but you'd think flying would be nicer. But I thought the same thing 5 years ago when we got the T series from Valtra.

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Tenbagger-Capital@Tenbagger-Capital

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@Hotte1909
Yes, it's a shame that Class is not on the stock exchange.

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Dont_be_greedy@Dont_be_greedy

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Hi Patrick,
Have you compared FMC with $CTVA Corteva? I think they hold by far the most patents in the field of genetic engineering for plants and food and are a good deal bigger

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Dont_be_greedy@Dont_be_greedy

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Here is an article on the subject:

https://www.global2000.at/publikationen/neue-gentechnik-patente

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Patrick Schäfer@Hotte1909

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@Dont_be_greedy Yes, I have. But kgv 4 versus kgv 60, so I opted for $FMC.
I agree that your patents last much longer. However, some of these will also expire in the next 6 years.

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Dont_be_greedy@Dont_be_greedy

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Yes, that actually speaks in favor of FMC. The dividend yield and low payout ratio are also really exciting.
I'm surprised that they slumped so much after 2022 and Corteva didn't. Do you know why that is?

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Dont_be_greedy@Dont_be_greedy

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@Hotte1909

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Patrick Schäfer@Hotte1909

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@Dont_be_greedy In 2023, sales collapsed and so did profits. There were studies on the actual effectiveness of a product and, in some cases, on long-term risks. But the product was removed. It was only approved in America anyway. I think that cost them a lot of trust. But they are one of the 6 largest manufacturers of crop protection products in Germany and I believe they are in 10th place worldwide.

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Dont_be_greedy@Dont_be_greedy

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@Hotte1909 okay, thank you! 👍🏼

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Patrick Schäfer@Hotte1909

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@Memo0606 I bought more to reduce my purchase price again.
In general, crop protection is becoming increasingly important as the world's population grows. It also meets my requirements for dividend stocks and has a fairly low P/E ratio.

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Patrick Schäfer@Hotte1909

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@Memo0606 slumped somewhat last year. There was also a drop in sales. But this year there is growth again. Although it has to be said that 22 was also a record year. I think we will be 5-10% above last year in terms of sales. The margin has improved somewhat, but at probably 12% it is still far below the high of 22, when it was around 19%.

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Patrick Schäfer@Hotte1909

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@Memo0606 yes, I don't think the stock is for you. I expect growth of around 8-10% pa. In the best case. Which would mean an increase in the share price of around 3-5% pa. However, 4% dividend with 20% payout ratio which means plenty of room for dividend growth. As you know, that's what I'm speculating on 😉

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Patrick Schäfer@Hotte1909

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@Memo0606 also very interesting

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Patrick Schäfer@Hotte1909

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@Memo0606 Yes, it's on the to-do list. I'll put in another 8k or so. Maybe I'll wait until the next figures, but I haven't come up with an exact plan yet

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