Forum Topics SXE SXE Financials

Pinned straw:

Last edited 10 months ago

Southern Cross Electrical Engineering announced half year results today.

  • Record half year revenue $397.4m, up 55.5% on PCP


  • Record half year EBITDA of $27.1m up 58.5%, record half year EBIT of $23.2m up 73.7% and record half year NPAT of $16.2m up 67.8% on PCP


  • Fully franked 2.5 cps interim dividend declared, up 150% on prior interim dividend


  • Reiterating FY25 EBITDA guidance of at least $53m with expectations of further growth beyond


Looks good to me. What surprised me the most was cash of $114.8m, no debt, against market cap of circa $400m.

GazD
Added 10 months ago

Great result, nice tailwinds and excellent timing with respect to our meeting @Strawman

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Bear77
Added 9 months ago

Yes @cbirtles & @GazD - there's plenty to like about both SCEE (SXE.asx) as a company and their latest report, however there seems to be selling that comes in every time they have a nice spike up (now down 11 cps already from their Feb 20th close of $1.855, after the market bid them up +14.2% on the day they reported, 19th Feb), and I can't help but think that Alex Waislitz's TIGA (Thorney Investment Group Australia) / Thorney Opportunities (TOP.asx) is still selling into any strength; TIGA/TOP still owned 14.45% of SXE at last notice (in August last year), however it wouldn't surprise me one bit if they lodge another "Change of..." notice shortly to show they're now below 13.45%. We shall see.

Actually, that's probably the ONLY thing I don't like about SXE, the fact that TIGA & TOP (same position; TOP is owned by TIGA or else TIGA is owned by TOP) are the second largest shareholders in the company.

Disc: Holding SXE shares.


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Alex Waislitz after realising that one of his investments actually had a good report.


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