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EVZ - EVZ Limited

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Re: EVZ - Envirozel

Well, gone the other way to what I thought.

Somebody slap me....it keeps getting cheaper.

EBIT $8.6 million (up 41% on previous year)
Capital Value now $43,543,239 (@21)
 
Re: EVZ - Envirozel

SilverDollar said:
Well, gone the other way to what I thought.

Somebody slap me....it keeps getting cheaper.

EBIT $8.6 million (up 41% on previous year)
Capital Value now $43,543,239 (@21)
Click to expand...

I don't think it is cheap based on their recent performance.....

Their EPS and projected EPS give it a P/E of around 10. I'd doubt it even deserves that given the recent poor announcement with the performance of some of the companies.

This should go sub 20c in the coming weeks.

cheers.
 
Re: EVZ - Envirozel

EVZ is around 8 cents at this time, im tossing up whether to top up my holdings.
Is anybody following this stock, thoughts ???

cheers
 
Another unloved business I found and have opened a small position in.

It has about $10m in cash and a market cap of $19m so its valuing the whole business at under $10m, made $1.5m profit last year so thats a pretty low multiple! FCF last year was also about $1.5m so strong conversion rate.

Should do about $2m NPAT this FY based on guidance for H1.

Share register relatively illiquid, 75% in top 20. Directors & executives have reasonable skin in game.

Company indicated some contracts due to roll over and there may be some margin expansion as a result.



So the upside thesis is that they have some consistent growth in revenue, which seems to be true, and they also get some margin expansion due to contracts rolling over on more favourable terms and "operational improvements". The unknown is the margin expansion.
 
EVZ with a significant contract win, worth about 20% of total revenue this year. Trundling along nicely.

 
$EVZ with a solid year, while I am generally happy with progress, the negative cash flow is a concern, but hopefully that will turn around with the effect of the recent contract wins.


 
Strong 4C for EVZ with a positive trading update. Points of note, all costs reduced relative to previous quarter, cash balance back up to $10m, strong pipeline of contracts into 2026. Negative is that H1 revenue looks down a bit on PRP, probably a bit to do with the lumpy nature of a business like this.





 
Very poor result for EVZ for H1, the only mitigation is that they did guide for this drop in revenue. It does highlight the issue of using EBITDA too much, all the talk about bull**** earnings while not mentioning EBIT or NPAT backfires when you have a massive drop in earnings like this. There was a significant impact from going from using tax losses to having to pay tax, in the region of an $85k impact.

The good news is that the new contracts announced and the tender list mean that there should be a fairly quick recovery. Also the FCF generation was still pretty strong coming in adjusted for distortions at about $2m.

 
A shocker of a 4C from EVZ today, for 3rd Q 2025, massive drop in OCF to -$1674k, while there are some plausible explanations from management, firstly funding of 2 new large projects that started in the last weeks of the quarter, and "seasonal variations in collections". (from a quick glance receipts down about 25%,impossible to know the mix of timing/receivables versus loss of revenue until we see the half year results.) Will need disciplined execution to get out of FY 2025 and hope for the promised organic growth to improve the financials through 2026.


 
$0.15

EARNINGS GUIDANCE FINANCIAL YEAR 2025

The guidance is based upon the earnings from the work delivered to clients in the full financial year as part of normal operations.

EVZ’s full year revenue is expected to be in the range of $108M to $110M, delivering a forecast EBITDA of $5.2M to $5.4M.
 
I really dont know why companies put out these updates with no useful detail, just bull**** earnings. Revenue will be down on last year, I suspect the NPAT will be down to about $1.4m or worse.

Just forget about the meaningless updates and when ready release the full year results.
 
EVZ managed to turn around a poor start to the year to finish well, NPAT now normalised after the wash through of tax credits, so a 9% drop in revenue for flat NPAT. Gross margins now 16.3% so creeping up, but hardly the scale of improvement expected.





The cash flow statement is definitely the best news in the results! Cash balance back up over $10m

 
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