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10.6%

$4.90 ezz life science holdings limited

This free cash flow indicated above (7.9 %) remains cautious, as...

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saintex

4,420 Posts.

471

28/08/24

13:07

Post #: 75414212
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Originally posted by saintex: ↑

H2 results look quite good :
- revenues : + 100 % vs + 43 % for H1 24,
- EBITDA margin of 19.5 % vs 7.8 % during H1 24 (low basis of comparison as EBITDA decreased by 7 % during H1 24).

The main point regarding their H2 results was probably that they were able to accelerate the sales and increase gross margin at the same time (GM of 79.6 % for H2 24 vs 78.6 % for H2 23).
This increase of sales was also achieved with an improvement of their ratio (ad and marketing)/ sales which decreased from 57.7 % during H2 23 to 57 % during H2 24.

Also good to see that there was no one off to boost their cash flow during FY 24, as they paid a normal tax rate and had an increase of their working capital.
So their free cash flow yield of 7.9 % is high, looking at the level of growth for the company.

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This free cash flow indicated above (7.9 %) remains cautious, as it is calculated based on FY 24 cash flow which was around 0 during H1 24.
Still difficult to know with this company what's the normal seasonality, but we can probably expect a higher cash flow for H1 25 (vs H1 24) due to this low basis of comparison.
If we annualise H2 cash flow*, EZZ has a free cash flow yield of 14.8 % (at 2.27 $).

* more cautious than annualising Q4 (which was particularly high).

EZZ Price at posting: $2.25 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $4.90		Change 0.470(10.6%)		Mkt cap ! $220.3M

Open	High	Low	Value	Volume
$4.47	$4.97	$4.47	$857.7K	181.4K

Buyers (Bids)

No.	Vol.	Price($)
1	136	$4.89

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Price($)	Vol.	No.
$4.91	50	1

View Market Depth

No.	Vol.	Price($)
2	775	4.870
2	1054	4.850
1	3319	4.830
2	3029	4.820
2	3560	4.810

Price($)	Vol.	No.
4.900	202	1
4.910	50	1
4.950	23	1
4.960	8400	2
4.970	68	1

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