NZSA Disclaimer This is always a tricky time of year. In the 10 weeks from mid-September to end-November, NZSA expects to cover around 70 shareholder meetings – around half of our annual coverage. This is not unusual. Each year, NZA undertakes a review of shareholder meetings with our 2022 review data showing that if anything,…
Read more
Annual Meeting Report, September 19th 2023 Click here for NZSA Assessment and Voting Intentions Metric 2021 2022 2023 Change Revenue $2,045m $2,188m $2,730m 25% EBITDAF $463m $581m $841m 43% NPAT $141m $469m $103m -78% EPS1 $0.101 $0.335 $0.074 -78% PE Ratio 68 18 86 Capitalisation $9.5B $8.2B $8.9b 8% Debt Equity 0.91 1.03 0.94 -9%…
Read more
Annual Meeting Report, September 20th 2023 Click here for NZSA Assessment and Voting Intentions Metric 2021 ($USm restated) 2022 ($USm) 2023 ($USm) Change Revenue $43.6m $47.6m $56.1m 18% NPAT $3.2m $1.7m -$2.5m n/a EPS1 $0.006 $0.003 -$0.05 n/a Gross Margin 38% 37% 32% -13% Capitalisation $149.8m $112.8m $100.5m -11% PE Ratio 33 42 n/a Current…
Read more
Annual Meeting Report, September 14th 2023 Click here for NZSA Assessment and Voting Intentions Metric 2021 2022 2023 Change Revenue $2.2m $3.5m $5.8m 65% Operating Expenses $3.9m $4.8m $6.4m 33% NPAT -$1.7m -$1.3m -$0.6m n/a EPS1 -$0.012 -$0.009 -$0.004 n/a PE Ratio n/a n/a n/a Capitalisation $43.9m $37.4m $34.8m -3% Current Ratio2 3.48 0.97 0.87…
Read more
EROAD has been a roller coaster ride for investors over the last couple of years. From a share price high close to $5.70 in July 2021 and the purchase of Coretex that same month, it’s been a fair degree of one-way traffic since then. The departure of founder Steve Newman as CEO in April 2022…
Read more
Annual Meeting Report, September 8th 2023 Click here for NZSA Assessment and Voting Intentions Metric 2022 2023 Change Revenue $18.8m $34.4m 83% Operating Profit $0.8m $1.5m 87% NPAT $0.0m -$1.9m n/a EPS1 $0.00 -$0.003 n/a PE Ratio n/a n/a Capitalisation $65.4m $45.4m -31% Current Ratio 0.30 0.53 75% Debt Equity 14.09 3.37 -76% Operating CF…
Read more
A vexed question: increased control for a major shareholder versus a better solution for minority shareholders Editor’s note: this article was written prior to an agreement between David Sena and NZSA (as outlined at the end of this article). Nonetheless, it’s an insightful analysis highlighting a potential conflict between the interests of major shareholders and…
Read more
Mid-morning this drab Wellington Monday, I had a discussion with a Board member of Skyline Enterprises Limited as part of our usual process surrounding our company assessment reports and subsequent voting intentions. Skyline has a market capitalisation of approximately $630m, and is one of the largest companies listed on “Unlisted” (USX), a recognised alternative exchange…
Read more
Annual Meeting Report, August 31st 2023 Click here for NZSA Assessment and Voting Intentions Metric 2021 2022 2023 Change Revenue $1.6m $3.9m $4.9m 27% EBIT -$6.9m -$11.2m -$14.1m n/a NPAT -$6.6m -$10.8m -$9.8m n/a EPS1 n/a -$0.125 -$0.087 n/a PE Ratio n/a n/a n/a Capitalisation n/a $66m $34m -56% Current Ratio 1.42 2.65 1.70 -36%…
Read more
Annual Meeting Report, August 28th 2023 Click here for NZSA Assessment and Voting Intentions Metric 2021 2022 2023 Change Operating Revenue $6.0m $19.9m $23.9m 20% Fair value movements $1.3m $0.00 $0.00 n/a NPAT $0.49m $1.9m $0.7m -63% Market Capitalisation $42.6m $42.6m $21.4m -50% EPS $0.00 $0.00 $0.00 n/c PE Ratio 434 23 31 Current Ratio…
Read more
