Australia's largest stock trading and investment forum Australia's #1 stock forum

EML

Click for more information

0.54%

92.5¢ eml payments limited

Ann: H1FY24 Investor Presentation, page-28

First 28 Last

Share
Profile

Follow
NPCInvestor

18 Posts.

8

28/02/24

18:12

Post #: 72652926
Share

Originally posted by truss20: ↑

Yes, that is correct. The overheads at the moment are significant due to PCSIL and they are included in underlying EBITDA (approx $20.5M). Even with PCSIL removed, I estimate the remaining biz ex-Interest income is loss making.

That said, you have to look at it more like an insurance company, where the underwriting business is breakeven, with the profits coming from the float. For EML, the float ex-PCSIL is ~$1.9Bn. They are currently only earning 2.5% on this amount. If they can get it up to a more reasonable 3-3.5%, then that adds $9.5-19M straight to the bottom line. Also, with more focus on the core biz, they should be able to win biz at a high incremental margin, therefore that should also flow straight to the bottom line.

Expand

Thanks for that.

Where did you get the 20.5M number from? The presentation today stated “PCSIL 1H24 underlying EBITDA of $8.5m with cash burn of ~$3.2m.” on page 5 of the presentation. The only other mention of 20m was the cash burn for FY24 to wind down PSCIL.

Looking at older presentations they earned 30m in underlying EBITDA in FY 19 with less than 5m in interest revenue. The core biz looks like it has substantially deteriorated?

EML Price at posting: 90.5¢ Sentiment: None Disclosure: Not Held
Upvote

0 Great analysis

Reply

There are more pages in this discussion • 33 more messages in this thread...

First 28 Last

Add EML (ASX) to my watchlist

(20min delay)
Last 92.5¢		Change 0.005(0.54%)		Mkt cap ! $347.0M

Open	High	Low	Value	Volume
92.0¢	94.0¢	92.0¢	$1.749M	1.882M

Buyers (Bids)

No.	Vol.	Price($)
2	20398	92.0¢

Sellers (Offers)

Price($)	Vol.	No.
93.0¢	2336	1

View Market Depth

No.	Vol.	Price($)
2	20398	0.920
2	20398	0.915
1	5494	0.910
4	61112	0.900
3	7731	0.895

Price($)	Vol.	No.
0.930	2336	1
0.935	9407	1
0.950	184532	8
0.960	36026	5
0.965	4370	3

Last trade - 16.10pm 07/06/2024 (20 minute delay)


Last 93.0¢			Change 0.005 ( 0.93 %)
Open	High		Low	Volume
93.0¢	94.0¢		92.0¢	110687
Last updated 15.59pm 07/06/2024 ?

EML (ASX) Chart