Looking at Paragon after a while and struggling to understand the numbers.
Revenue:
March update says FY continuing business revenue of $240 Million, almost exactly double the 1H result; yet acquired Total effective November 2018; so new Total revenue is $1.5 and $8 Million in each half. This means continuing business revenue is going to fall $8 Million in 2H.
EBITDA:
IH EBITDA from continuing business was $9.65 excluding discontinued (obviously) and identified Lease adjustment benefit. If FY EBITDA is going to be $24 Million ($28 Million minus the Lease adjustment of $4 Million). So have to get EBITDA of $14 Million from operations. Total gives $2.5 so $11.5 from operations. Remember revenue appears to be lower by $8 Million in 2H so nothing there. The 2H EBITDA improvement of approximately $2 Million must come from cost savings. Realistic?
Discontinued Operations:
Management set a deadline of 30 June. They have also said that there are no takers for the combined capital equipment business and a piece-meal deconstruction is planned. It's May 28 and no announcements. The carrying value of those assets at the half was $26.4 Million. The value 30 June 2019 will reflect their true value and there will either be a loss on sale or an impairment; pick a number!
Overall:
Management is clearing the decks for the next phase and they will take all the bad news as a hit this year. There is more pain to come; it might be severe but it will also be short-lived.
- Forums
- ASX - By Stock
- PGC
- Ann: Quarterly Update - March 2019
Ann: Quarterly Update - March 2019, page-5
Featured News
Add PGC (ASX) to my watchlist
|
|||||
Last
45.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $761.4M |
Open | High | Low | Value | Volume |
45.5¢ | 46.5¢ | 45.0¢ | $151.6K | 332.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 31243 | 45.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
46.0¢ | 100051 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 31243 | 0.450 |
6 | 32733 | 0.445 |
3 | 50811 | 0.440 |
3 | 213683 | 0.435 |
2 | 56000 | 0.430 |
Price($) | Vol. | No. |
---|---|---|
0.460 | 100051 | 8 |
0.465 | 268349 | 6 |
0.470 | 349748 | 6 |
0.475 | 100000 | 1 |
0.480 | 211226 | 4 |
Last trade - 15.01pm 19/07/2024 (20 minute delay) ? |
Featured News
PGC (ASX) Chart |