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#Bull Case
Added a month ago

18 May 2020. 

Yojee signs Services Agreement with Kuehne Nagel Philippines. 

  • 3 year services agreement with Kuehne + Nagel Logistics Solutions (subscription-based SaaS logistics platform in the Philippines). 
  • Project rollout already underway and expected to go live by the end of July 2020 (tracking parcel movements on an ongoing basis). 
  • "We are confident that the SaaS Platform will deliver huge value for Kuehne + Nagel across their business over time in terms of digitising and bringing 'visibility', 'accountability' and 'control' to their business .... we look forward to building a long-term relationship."
  • Kuehne Nagel is a world leading logisitics company with 83,000 employees at 1400 locations in over 100 countries. Revenue of approximately $5bil USD

Beginner investor so any advice is appreciated. 

Found this stock while scrolling through microcaps and it looks rather interesting. It seems that this agreement with Kuehne-Nagel is a turning point for YOJ. Although K&N still have termination clauses available in this contract if YOJ can gain some traction then other opportunities may arise (particularly in other parts of the K&N business).

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#Broker / Analyst Views
Last edited 2 months ago

01-May-2020:  Euroz:  Client Note:  Quick Comment (March Qtr Results):  Yojee Ltd (YOJ):  Speculative Buy

Analyst: Seth Lizee, Price Target: $0.13/sh (Under Review)

Mar’Q Results
Key Points

  • A$225k Revenue, +21% QoQ (vs A$186k in Dec Q)
  • A$121k Cash receipts, -14% QoQ (vs A$141k in Dec Q)
  • New Platform Adopting during Q:
    • Hub Express Singapore – Singapore logistics operator, 2yr dispatch SaaS agreement;
    • Magic Hand Car Wash Franchisor – 12m Dispatch SaaS agreement
  • Major multinational (MNC) clients:
    • As a result of COVID-19 travel restrictions YOJ has not been able to expand footprint or build transaction volume during the Q
    • Travel restrictions have impacted hub expansions, implementations, and implementation teams
  • Send Yojee:
    • The standalone business and technology test bed continues to provide great transparency to the SaaS offering and “connected marketplace” from YOJ
    • Clients continue to be attracted as a result of increased freight network volumes during Q
    • 4,061 deliveries logged, +4% QoQ (vs 3,920 deliveries in Dec Q)
  • New Chairman David Morton appointed, initially joined YOJ’s advisory board in May 2019.
  • NED fees have been voluntarily reduced by 50% of up to 6 months
  • $5.49m Cash at bank at end of Q (31-Mar)

Investment Thesis

The Mar Q has highlighted the mixed impact of COVID-19 on the business, despite the pandemic YOJ have continued to add news customers and grow sales, although travel restrictions have slowed YOJs ability to roll out its cross border network solution in SE Asia for a major MNC client. However we see potential new opportunities emerging beyond COVID-19 as the logistics industry begin to re-asses their supply chains and possibly accelerate digitisation and technological adoption, all of this would benefit YOJ who is well placed with their end-to-end offering. The YOJ investment case continues to be predicated on signing new commercial SaaS agreements, and top 10 global logistics provider Geodis driving material revenue in the medium term.

Yojee Ltd (YOJ)  [01-May-2020]

  • Share Price: 0.028 A$/sh
  • Price Target: 0.13 (under review) A$/sh
  • Valuation: 0.13 (under review) A$/sh
  • Recommendation: Speculative Buy
  • Shares on issue: 1000.1 m(dil)
  • Market Capitalisation: 28 A$m
  • Enterprise Value: 22.8 A$/m
  • Debt: (Inc. AASB16 LL) 0.255 A$/m
  • Cash: (Mar’Q) 5.49 A$/m

--- click on link at the top for more --- 

YOJ closed at 2.6 cps today (15-May-2020).

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#Broker / Analyst Views
Last edited 3 weeks ago

June 2020:  Euroz: Yojee Ltd: Spec Buy

Share Price: 0.049 A$/sh (0.051 on 12-June-2020)
Price Target: 0.13 A$/sh
Valuation (DCF): 0.12 A$/sh
WACC: 11.0%
Terminal Growth: 3.0%
Shares on issue: 923.6 m, diluted
Market Capitalisation (Fully diluted): 49.6 A$m
Enterprise Value: 44.3 A$m
Debt (Mar’20, inc AASB16): 0.3 A$m
Cash (Mar’20): 5.5 A$m

Euroz Analyst:  Seth Lizee

Investment case

The logistics landscape is fast evolving with increasing pressure to build efficiencies and meet growing customer demands – YOJ continues to be well positioned with their end-to-end solution. We continue to see the blue sky opportunity present. Although revenues have not met our earlier expectations for a number of reasons (including COVID-19) we still see them emerging in time. We further acknowledge the solid wins YOJ has made in recent times – topped by the recent Kuehne + Nagel (K+N) agreement signed, K+N is a world leading logistics company. The YOJ investment case continues to be predicated on signing new commercial SaaS agreements, and top 10 global logistics provider Geodis driving material revenue in the medium term.

We maintain our Speculative Buy Recommendation and $0.13/sh. Price Target.

Key points:

  • Kuehne + Nagel (Philippines) 3yr services agreement signed
    • Enterprise level project with YOJ for its SaaS logistics platform solution;
    • Platform will be integrated into K+N Philippines and a eCommerce fulfilment customer;
    • Project rollout is underway and is expected to go live by end July 2020
  • We are particularly encouraged by prospect of YOJ working with one of, it not the largest global logistics providers and the possibility of further opportunities emerging over time;
    • We see this highlighted by YOJ describing K+Ns “Clear focus on IT-based integrated logistics solutions and growth in Asia”
  • Kuehne + Nagel global is a world leading logistics provider, founded in 1890 the company has 83,000 employees across 1,400 locations in over 100 countries;
    • #1 Global Sea freight forwarder
    • #2 Global air cargo forwarder
    • #2 Global contract logistics provider
  • The 3-yr services agreement is subject to standard enterprise termination clauses
    • Including K+N termination on 90 days’ notice, following an initial 9 months and only in the event of a discontinuation of its eCommerce fulfilment customer
  • Further details at this time are unknown, however we would expect more updates into FY’21 when the project is expected to go live
  • We maintain our 0.13/sh. Valuation and Price Target
  • YOJ cash at bank stood at ~$5.49m as of Q3, no debt (ex. Lease liabilities)

--- click on link above for more ---

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#Bull Case
Added 3 months ago

YOJ is a logistic tech player with good blockchain tech. and supporting apps.

A highly speculative stock that has some good relationships with some major freight logistics players. If YOJ can prove their tech and get some business to stick and turn tgat into profit, they have an opportunity to become a multifaceted  logistics services company.

Discloser:

Above is personal opinion based on personal research and not a finacial recommendation. I have a small personal holding in the stock.

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#Market Update
Last edited 3 months ago

27-Mar-2020:  Strong Funding Position and Cash Runway Maintained

The market liked this one! 

YOJ up over 30% as the All Ords gives up early gains to drop into negative territory. [Unbelievably - after being up as high as 2.4 cps (+50%), YOJ finished the day flat - unchanged - at 1.6 cps - they can't take a trick!]

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