ironically this transformational deal was announced on Remembrance Day and Tom even tried (unsuccessfully) to hold a minute of silence half way through the call
PFS will take EML to another level on multiple fronts:
- Accretive deal, adding $24 million Ebitda company, that's growing 25%+ pa (CEO incentivized to grow 30-40%+ for earnout !!)
- diversifies revenue and earnings away from breakage and introduces new verticals (high growth) and new geographies.
- PFS cash conversion to profits 100% !!
- some huge government contracts up for grab (tenders out)
- some huge US mall deals imminent
- adds digital banking, government disbursement and travel cards as new verticals in GPR.
- huge cross sell opportunity !!
- $6 million synergies all on backend processing rather than employee cuts (positive)
- Tom and Chairman taking up some of rights issue !!
- Guarantees 100% ASX200 inclusion either December (85% chance) or March (100% chance).
pro forma with synergies $72 million ebitda in FY20 and if we add 25% growth pa then $115 million ebitda company in 2 years.
anyway you look at it, it is going way way higher and my $8-$10 call - is in the making.
new clients at EMLcon will be disclosed tomorrow.....
stay tuned
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65.5¢ |
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-0.020(2.96%) |
Mkt cap ! $247.0M |
Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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Price($) | Vol. | No. |
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66.5¢ | 28926 | 2 |
View Market Depth
No. | Vol. | Price($) |
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4 | 45410 | 0.655 |
4 | 45926 | 0.650 |
3 | 11007 | 0.645 |
7 | 74525 | 0.640 |
5 | 48976 | 0.635 |
Price($) | Vol. | No. |
---|---|---|
0.665 | 28926 | 2 |
0.670 | 20926 | 4 |
0.675 | 27912 | 6 |
0.680 | 20000 | 1 |
0.685 | 35162 | 2 |
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