Company Report
Last edited one year ago
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#Bull Case
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Added one year ago

Further info from agm and new acxq -

The new acq cmi brought in $104.3m of very sticky sales for fy23 (and is extremely capital light -  and the acquisition they bought previously (ex engineering)brought in $12m 

So if status quo takes their sales to 350m 

They see both already growing (cmi - 2 yr ebit cagr 31% (short period i realise) and will also be very synergistic. 

Also their rev is also growing this year (last 2 yr (only listed 2 yes ago) rev cagr was 26.1%) 

The new acq helps to improve their margins (ebit marg will go from 10.3% to 11.7%) and also opens up new lucrative pipelines for them to grow and will also be very synergistic. 

Also their rev is also growing this year (last 2 yr (only listed 2 yes ago) rev cagr was 26.1%- all organic) 

The new acq helps to improve their margins (ebit marg will go from 10.3% to 11.7%) and also opens up new lucrative pipelines for them due to the synergy of the two businesses. 

More Areas of growth- 

  • Ipg now can do the  entire infrastructure and construction for ev chargers (some just got put into glenbrook- it was a big process) - eg. Site assessment, infrastructure design, all the brand products needed - they sell, they then can manufacture the ev charging boards, and they can now also do all the engineering and construction with services and maintenance ongoing. 
  • They are now getting a lot if data centre work - they can now design, provide, engineer, install, etc. 
  • Huge tailwinds in electrification and energy transition 
  • Busduct is a great new product and growing very well
  • They installed a bus development unit and its performing above expectations- bringing in a strong pipeline of business 
  • Expanded warehouse space bu 4000 sq m to free up 30% capacity in distribution centre
  • Will continue to seek out accretive acquisitions - focussing on synergies, cultural fit, to enable them to expand product portfolio- decarbonisation, decentralisation, digitalisation 
  • Plenty of room to grow
  • To grow into new mkts and new geographies
  • Increasing prices and to sell more
  • Previous acq - gemtek and addelec integrated perfectly and is the reason they can do the whole gamut of ev charging stations 
  • Very confident in h1fy24 guidance - ebit up approx 20% to 13.5-14m (pre impact of cmi acq - remembering it will be strongly accretive) - expect second half to be at least same as h1 - = 27-28m minimum (approx 20% growth) 


#Bull Case
stale
Added one year ago

Great agm today. Will report on acq soon

#Bull Case
stale
Added one year ago

Great agm today. Will report on the acq soon.

#Bull Case
stale
Added one year ago