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Thread: IFT - Infratil

  1. #771
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    Default Yes you could be right

    Quote Originally Posted by whatsup View Post
    Rif,,,,, thank yoiu 4 that, we can see now that Ift is on the move at last after a long slide, lets hope that it continues!
    Yes, the update was very good reading and puts to bed some perspective on short term negatives in the context of greater macro trends.

    Key investments doing well with just the european airports being the problem. Looks like they will offload Lubeck

    Looking at the charts it might be just about to break out too.

    At $1.62 this morning the warrants are about to get back in the money so may well convert.

  2. #772
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    Exclamation Ift

    Why the heavy volumn during the last hour of trading today???

  3. #773
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    Default Things are getting interesting

    Charts look pretty positive and with todays close of 165 just over the warrant strike price. Warrants may convert yet which would bring in $150m

  4. #774
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    Unhappy Bottom draw stuff

    At the moment it is a bit touch and go as whether and how many IFTWB's are converted at $1.62 each.

    I was busy selling out of Infratil (amongst others) when the IFTWC were being issued and ended up with 180 of the things (currently worth $7.38!).
    Although they have until end of June 2012 for the Infratil heads to get above the $4.12 strike price it seems a fairly unlikely scenario at the current time.

    However I do like the look of IFT at the moment from both a fundamental and technical point of view.

    regards
    Paper Tiger
    om mani peme hum

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    Default The "B's"

    It's sure going to be to Infratil's advantage to have as many of the B warrants as possible converted on the 10th of July, - - (remember that date?) so I'm sure management will be doing lots in the meantime to emphasise the fact that these shares are currently hugely undervalued.
    Romer

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    Default Infratil Results For The Year Ended 31 March 2009

    Infratil Results For The Year Ended 31 March 2009
    18 May 2009
    Infratil's operational, investment and financing activities delivered good results and were testament to the robustness of Infratil's activities and its financing arrangements. The bottom line reflected accounting treatment of non-cash write downs of listed investments, while overall revaluation of assets were actually positive.

    For the year ended 31 March 2009 Infratil’s consolidated earnings (EBITDAF) were $356 million, up 13% from $316 million for the previous year. The operating surplus (earnings after interest, depreciation and amortisation) was $77 million, from $88 million and operating cash flows adjusted for movements in working capital increased to $144 million from $134 million. Investment and capital spending amounted to $300 million, down from $507 million in 2008.

    Infratil’s core businesses, TrustPower, Wellington Airport and Infratil Energy Australia delivered improved results while NZ Bus was slightly down. Infratil’s European Airports performed poorly. Higher interest and depreciation charges were due to recent capital spending on enhanced and expanded facilities. Lower investment outflows occurred as new investments were curtailed and discretionary capital spending programmes wound down.

    Infratil’s net loss after tax and minority interests rose to $191 million compared with a loss of $2 million in 2008, largely due to $179 million of non-cash write downs associated with listed investments. Overall revaluations were positive, but were mainly taken to Reserves rather than through the Profit and Loss Account.

    Infratil’s liquidity and funding position withstood the difficult financial market due to good risk management and proactive positioning.

    A fully imputed dividend of 3.75 cents per share is to be paid in July. The dividend is unchanged from last year.

    Infratil’s outlook for the 2009/2010 year is for increasing earnings, lower financing costs and reduced net investment.

    Infratil operational immediate goals are:
    Addressing under-performance. Not all of Infratil’s businesses and investments are providing a satisfactory return and they must be improved, or the capital extracted for better use elsewhere. Infratil will continue to rebalance it’s portfolio between long duration investments, capital growth, and current returns as volatility and the cost of capital rise.

    Capital preservation and financial flexibility. Postponing spending where opportunities are durable and only entering into new capital commitments where opportunities are both perishable and of exceptional quality.

    Proactive management of risks.

    Infratil’s businesses, financing and risk management is undertaken with the over-riding goal of delivering superior risk-adjusted returns to shareholders. The target is 20% p.a. after tax over the long run. Following last year’s fall in share price Infratil is no longer exceeding that long-term target, but the Company has delivered 18% p.a. after tax over the 15 years since its establishment.
    This out performance is based on being well positioned in the right sectors, having excellent management, investing to deliver compound growth, and scrupulous attention to risk management. Infratil’s ingredients of success remain intact.



    Thoughts anyone? Seems that apart from European airports, results have been pretty much on track, but Infratil has been hit worse than the rest of the market.
    Romer

  7. #777
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    Default

    Quote Originally Posted by Romer View Post
    It's sure going to be to Infratil's advantage to have as many of the B warrants as possible converted on the 10th of July, - - (remember that date?) so I'm sure management will be doing lots in the meantime to emphasise the fact that these shares are currently hugely undervalued.
    Looks like they are going to vary the payment timing of the warrants so they are in installments. Good news for warrant holders and shares as will minise any overhang at conversion time and will increase conversion.

  8. #778
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    Quote Originally Posted by Romer View Post
    Infratil Results For The Year Ended 31 March 2009
    18 May 2009
    Infratil's operational, investment and financing activities delivered good results and were testament to the robustness of Infratil's activities and its financing arrangements. The bottom line reflected accounting treatment of non-cash write downs of listed investments, while overall revaluation of assets were actually positive.

    For the year ended 31 March 2009 Infratil’s consolidated earnings (EBITDAF) were $356 million, up 13% from $316 million for the previous year. The operating surplus (earnings after interest, depreciation and amortisation) was $77 million, from $88 million and operating cash flows adjusted for movements in working capital increased to $144 million from $134 million. Investment and capital spending amounted to $300 million, down from $507 million in 2008.

    Infratil’s core businesses, TrustPower, Wellington Airport and Infratil Energy Australia delivered improved results while NZ Bus was slightly down. Infratil’s European Airports performed poorly. Higher interest and depreciation charges were due to recent capital spending on enhanced and expanded facilities. Lower investment outflows occurred as new investments were curtailed and discretionary capital spending programmes wound down.

    Infratil’s net loss after tax and minority interests rose to $191 million compared with a loss of $2 million in 2008, largely due to $179 million of non-cash write downs associated with listed investments. Overall revaluations were positive, but were mainly taken to Reserves rather than through the Profit and Loss Account.

    Infratil’s liquidity and funding position withstood the difficult financial market due to good risk management and proactive positioning.

    A fully imputed dividend of 3.75 cents per share is to be paid in July. The dividend is unchanged from last year.

    Infratil’s outlook for the 2009/2010 year is for increasing earnings, lower financing costs and reduced net investment.

    Infratil operational immediate goals are:
    Addressing under-performance. Not all of Infratil’s businesses and investments are providing a satisfactory return and they must be improved, or the capital extracted for better use elsewhere. Infratil will continue to rebalance it’s portfolio between long duration investments, capital growth, and current returns as volatility and the cost of capital rise.

    Capital preservation and financial flexibility. Postponing spending where opportunities are durable and only entering into new capital commitments where opportunities are both perishable and of exceptional quality.

    Proactive management of risks.

    Infratil’s businesses, financing and risk management is undertaken with the over-riding goal of delivering superior risk-adjusted returns to shareholders. The target is 20% p.a. after tax over the long run. Following last year’s fall in share price Infratil is no longer exceeding that long-term target, but the Company has delivered 18% p.a. after tax over the 15 years since its establishment.
    This out performance is based on being well positioned in the right sectors, having excellent management, investing to deliver compound growth, and scrupulous attention to risk management. Infratil’s ingredients of success remain intact.



    Thoughts anyone? Seems that apart from European airports, results have been pretty much on track, but Infratil has been hit worse than the rest of the market.
    Yep Europe airports is where the probelms are. They'll dispose of Lubeck and get their money back. Interesting news about interest shown in Kent solving Londons problems, but will be a long term play there and will lose medium term.

    TPW - good results and of course this is where 50% of their assets are. They don't want to make too much of a song and dance about this investment due how unpopular power companies are for their big profits. Also uncertainties in the carbon trading will delay rerating for them having the renewals angle.

    Energy Aus - this is a good story but growth is at the sacrifice of profits.

  9. #779
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    Default

    IFT group whatsup a trading halt but with all the action today looks like that the cat is out of the bag, somethings cooking re the sale( pending ) of a investment in Aust, looking good never the less.

  10. #780
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    Quote Originally Posted by whatsup View Post
    IFT group whatsup a trading halt but with all the action today looks like that the cat is out of the bag, somethings cooking re the sale( pending ) of a investment in Aust, looking good never the less.
    Conditional bid has been made for ENE which I think IFT owns about 32% in

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