CCZ Equities Reseach just released an update on SMP. For Australia they have forecast SMP will have 11,754 machines in 2022 and 17,754 in 2023 from current 6,754. They are projecting the following revenue, underlying EBITDA and underlying NPAT (In NZ$m both Aust and NZ).The figures below in brackets are EV/EBITDA and PE (both underlying measures).
2021 - 33.8, 8,4, 0.1 (26.4, 1,667.1)
2022 - 53.2, 15.5, 7.5 - (12.8, 29.7)
2023 - 77.0, 25.1, 13.8 (7.4, 16.3).
They have a target price of $1.00 upgraded from $0.88.
If their projections are right then we may find a markedly higher SP in the next 2 years as there will be lots of growth beyond 2023.
CCZ Equities Reseach just released an update on SMP. For...
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