Reporting is AUD default right?. I dont think we're quite at cash = MC.
copy pasta from 31-Jan-25 ann and some maths.
Following this debt repayment and the divestment of EM Solutions, EOS has nil borrowings and expects to hold approximately $128.0m of cash balances at 31 January 2025. In addition to cash balances, EOS had a further, approximately $48.0m of restricted cash (security deposits) held as security for bank guarantees at 31 January 2025.
128+48 =176m
Contract Asset Balance At 31 December 2024, EOS had a gross contract asset totalling approximately $79.1m. This included $21.7m relating to EM Solutions, which was held for sale at 31 December 2024 and divested on 31 January 2025.
Margin guess like ~30%? coz you gotta spend a bit to fulfill them
=176 + .3*(79.1-21.7) =193.22
Customer Order Activity • EOS received an order for Counter-Drone Container-Based Remote Weapon Systems (“CBRWS”) from a new Western European customer valued at EUR8.2m (approximately A$13.6m). The CBRWS will be integrated with a 70mm long-range counter-drone rocket system. These systems are expected to be delivered during 2025. • EOS Singapore received orders for RWS spares worth SGD17.1m (approximately A$20.1m). These orders are expected to be delivered during 2025 and 2026. • Both of these new orders were previously announced to the ASX on 23 December 2024.
again guessing 30% =193.22+0.3*(13.6+20.1) =203.33
Order Book Development Activity • Advanced negotiations continued on the Land 400 Phase 3 RWS opportunity in Australia, valued at up to A$100m. The RWS under this opportunity are targeted for delivery in 2026 and 2027. • Negotiations continued with regards to the potential sale of EOS’ heavy-calbre, R800 RWS, to a new customer in North America, valued at up to A$30m. The RWS under this opportunity are targeted for delivery in 2025. • Work continued on Ukrainian opportunities including both (1) discussions regarding budget availability in Ukraine to place firm orders under the existing conditional contracts for RWS supply, and (2) discussions with donor nations regarding the supply of RWS for donation to Ukraine. In addition, counter-drone products previously supplied for use in Ukraine were deployed during the quarter and used to defeat drones.
probability of success, p -- dunno margin guess ~ 30% =203.33 + 0.3*p*(100+30+?Ukraine?) = 203.33 +????
But then also and this is from Jun 2024 we probably have some inventory and assets anyway... which could be anywhere by now so do your own valuation :')
EOS Price at posting:
$1.23 Sentiment: Buy Disclosure: Held
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