SDV has broken out of its range and reached a new 12 month high of $0.99. Price has gone up from $0.70 only two weeks ago. Renewed interest in the company after their latest acquisition of Haldon water acquisition
8 Feb 21: SDV released their 1H21 result. Revenue was A$18.3m up an impressive +300% yoy. EBITDA turned positive to $0.94m (from -$0.02m). Turned a slight profit of $0.43m (from -$0.19m). Free Cash Flow (FCF) was -$4.9m though which the company attributes to timing issues. Cash was $7.1m.
At $0.755, the market cap is $107m, which at an annualised Revenue run rate of >$35m, is an EV/Rev of less than 3x.
All the sectors which SciDev target, Mining and Mineral Processing, Oil & Gas, Infrastructure & Construction, Water and Wastewater all have multi billion dollar total addressable markets.
If SDV continue to excute like this half then it will be one to keep an eye on.
(Disclosure - I hold)
SciDev delivers inaugural net profit of A$0.4m
1HFY21 Financial Highlights
~ Record half year results;
~ sales of A$18.3m (+300% vs 1HFY20 A$6.1m)
~ cash receipts from customers of A$15.8m (+290% vs 1HFY20 A$3.8m)
~ Net cash at the end of the period of A$7.1m
~ Strong gross profit margin of 23% (FY20 17%)