Ha, yes well it (50-60c) is a medium-long term (2-4 years) target so there are plenty of moving parts needed to make that a reality. But possible from here. I just want you to get your 60c back again ;-)
Medium term (~1-2 yrs) 39c = $60m x 15% EBITDA ($9m) x 7 (multiple) +$5m cash = $68m MC / 176m Shares (Remember Opteon was 9x Multiple)
With the addition of SA, we are now on a run rate of $52-55m with growth in non-resi to come. So $60m is doable in 22/23.
As with other post today. 3 affiliate and JV acquisitions in ~12mths to tidy up the operating model has been a good move but distracting all the same. Now the focus has to be margin expansion and further top-line growth.
ACU Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
