Ann: Trading Halt, page-33

I did this research a little while ago to show how undervalued WSI was and based on those figures I could not work out why the SP was struggling.


I think they ended up with an EBITDA for the full year of around $5M. Then what happened, revenues fell drastically and the first half of the year was a loss, which could be why the market did not believe the story then.
Based on a comparison of JLG with a P/E ratio of 75ish (not sure why they are going so well unless they are a tech company in disguise) you could say that WSI then should have been worth over $200M but now not sure if they will be profitable this year.
Here is the compiled 4c data. My key takeaways are cash receipts jumped Jun 2019 then slowly trickled lower, staff costs going through the roof.

I hope the contract to be announced gives some consistency in the revenues and can provide some stability to the bottom line, then investors will believe returns will come their way and the SP will reflect it rather than massive pump and dumps seen in the past! Good luck all for tomorrow.