At a quick glance the fall in the Aussie dollar saved their bacon. At constant currency FDV cashflow would be back in negative territory.
When looking at both slide 21 and 23 (revenue and foreign exchange), growth at InfoCasas (FDV biggest asset) has stalled (+7% growth vs ~-7%.currency) The revenue dropped at Zameen is much larger than the currency drop. Yapo is going backwards (0% growth and currency -11%). No wonder why OLX Auto has pulled the plug.
It's even worse if you consider that if a company revenue is not keeping up with inflation it's basically shrinking.
Otherwise Management deserves an A- in marketing for this presentation.
You only have to wait for the second slide to see the logos of REA, Carsales, SEEK, Domain.... Keep the dream alive baby!
But my favourite is the slide titled "Value Creation" !
How ironic for a company with a market cap of $192M after raising more than $225M since IPO...
A fancy new logo and a pipe dream filled with IPOs - Nasdaq, London, EMPG... yeah the market is so hot for IPOs right now.
I honestly would have given them an A+ if they mentioned AI in their presentation like they used to. They should seriously push that narrative again. It would put a rocket under the SP!
FDV Price at posting:
42.5¢ Sentiment: Sell Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)