Ann: CSR Limited Results presentation - Full year ended Mar 2019, page-9

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alfred137

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23/05/19

11:00

Post #: 38706480
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Originally posted by alfred137: ↑

just come back from holiday and finally got a chance to read the report. We now have no interest-bearing debt, with 50m cash and another $188m on its way next year. Building product yields appx $200m p.a, which means, we are now able to pay 1.7B (market cap), to get,
1. $189.6m (building products`EBIT less corporate cost: $206.9m-16.9m) in return from building product;
2. assume Aluminium business has no value (unit price remain steady and actually still making money), Property market has no value (still making money);
3. More than $200m in cash, making your cost reduced from 1.7B to 1.5B;
4. Huge land reserve across the fast-growing western Sydney area, more than 400ha in Schofields, Bringelly, Horsley Park and Badgerys. How big is that? thats 400*10000 m2.

Let me know if you know any other companies that can give you better return than CSR. Ooh, and the management is smart and have integrity, and they know exactly how to return their shareholders. Endless share buyback i estimate now can provide shareholders better return than investing back to any other existing business. ooh, and, not to mention the upcoming rate cut and potential stimulation to property sector. If i were the management, I wouldnt mind borrowing up to 30% of gearing to buy back our shares.

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now the market started to recognise the value of the building products business.

CSR Price at posting: $4.08 Sentiment: Buy Disclosure: Held
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Ann: CSR Limited Results presentation - Full year ended Mar 2019, page-9

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