The Petra boys hey...... i hear they got "stuck" with some...

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LunaMaya

852 Posts.

24/03/16

11:57

Post #: 17354340
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Originally posted by nih123 ↑

boys at petra doing this deal. education roll up ala Vocation:

good roll up story, latest acquisition FY15F EV/EBITDA: 2.9x

2 different bidding prices.

Offer Price 2.90 3.10
Number of Shares offered under the Offer 34.7M 32.4M
Amount to be raised under the Offer1 $100.5M $100.5M
Total number of Shares on issue at Completion of the Offer2 80.1M 79.7M
Total number of Shares held by pre IPO investors post Offer 24.9M 24.9M
Indicative market capitalisation at the Offer Price3 $232.2M $247.1M
Pro forma net cash/(debt) at completion of the Offer $11.7M $11.7M
Enterprise value at the Issue Price4 $220.5M $235.5M
Pro forma FY2015 forecast EBITDA5 $25.5M $25.5M
Enterprise value/pro forma FY2015 forecast EBITDA 8.6x 9.2x
Pro forma FY2015 forecast NPATA6 $18.4M $18.4M
Key dates
Prospectus lodgement date 7 Oct
Offer opens 15 Oct
Offer closes 22 Oct
Settlement of Offer 28 Oct
Transfer and allotment of Shares 29 Oct
Expected despatch of Shareholder statements 3 Nov
Expected commencement of trading of shares 6 Nov

Forecasting 62.4% EBITDA growth in FY15

growth on RHS.

Profit and loss statement
Source: Australian Careers Network.
1. Post IPO 32
A$M
Proforma
30 June 2014
Proforma forecast
30 June 2015
Growth
(%)
Revenue 33.4 56.1 68.0
Overheads (17.7) (30.7) 73.4
EBITDA 15.7 25.5 62.4
EBITDA margin (%) 46.9 45.4
Depreciation (0.5) (0.4) (20.0)
EBITA 15.1 25.1 66.2
EBITA margin (%) 45.3 44.7
Amortisation 0.0 (2.1) nm
EBIT 15.1 23.0 52.3
EBIT margin (%) 45.3 41.0
Net interest income 0.1 0.2 nm
NPBT 15.2 23.2 52.6
Income tax expense (2.4) (7.0) 292.7
NPAT 12.8 16.2 26.6

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The Petra boys hey...... i hear they got "stuck" with some shares..... tisk tisk.
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