NCK 2.16% $16.57 nick scali limited

Ann: Acquisition of Plush-Think Sofas, page-5

  1. 105 Posts.
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    Repeat first post with corrections....

    Interesting how market will react to this....


    Nick Scali 61 stores, additional 46 Plush outlets so additional 70% of stores
    Nick Scali T/O 262.5m (2020) and 373m (2021) - additional 160m for Plush for 2021 (111m- 2020) so additional 30% sales uplift
    Nick Scali EBITDA 96.9m (2020) and 158.5 (2021) - additional for Plush 27m for 2021 (10m - 2020) so additional 17% EBITDA uplift.

    NCK MC around 900m so PLUSH a bargain at $103 million enterprise value???? (and assuming that includes stock on hand....). If Scali can lift the profitability a little for Plush then even better.
 
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