Comvita - CVT

[Shareguy]

Yes China is important and one would think the current issues with Australia should be good for Cvt. We will know soon if New Zealand is successful in trademarking the word Manuka. If we are successful (we should be) the hundreds of millions of dollars that Australia currently sells as Manuka is likely to migrate to NZ. It should be a game changer for CVT.

[percy]

Upgrade .
https://www.nzx.com/announcements/370581

[winner69]

Upgrade .
https://www.nzx.com/announcements/370581

Good stuff

How many upgrades now percy?

[Balance]

Upgrade .
https://www.nzx.com/announcements/370581

13 April - old news?

[Balance]

https://www.nzx.com/announcements/373275

Comvita, the global market leader in Mānuka honey, is pleased to announce that its in-house honey testing laboratory has been awarded accreditation under the International Accreditation New Zealand (IANZ) Laboratory Accreditation Programme. The laboratory has also been formally recognised by the Ministry for Primary Industries (MPI) to perform honey testing under section 101 of the Animal Products Act 1999. Comvita is the first, and only, Mānuka honey company to hold this dual certification, a testament to the high quality and expertise of its laboratory services and staff.

[percy]

Good stuff

How many upgrades now percy?

Do not know,however seeing digital sales at 30% of revenue ,means they are well on their way to their target of 50%.

[Balance]

Private sales usually command a lower multiple so I would say that CVT is undervalued, given the depth and breadth of CVT vs King Honey.

https://www.nzherald.co.nz/business/...YAK4U2DCXSKWI/

Worthwhile making a comparative value assessment :

King Honey had revenue of $16.5m in the year to March 31 and Ebitda of $3.87m - sold for $36m.

So EBITDA multiple of 9.3 times for King Honey.

Comvita is expecting EBITDA of $22.5 to $25.5 so call it $24m

- putting the company with sp of $3.20 = market cap of $225m, & estimated debt of $11m = EBITDA multiple of 9.8X

[winner69]

Private sales usually command a lower multiple so I would say that CVT is undervalued, given the depth and breadth of CVT vs King Honey.

https://www.nzherald.co.nz/business/...YAK4U2DCXSKWI/

Worthwhile making a comparative value assessment :

King Honey had revenue of $16.5m in the year to March 31 and Ebitda of $3.87m - sold for $36m.

So EBITDA multiple of 9.3 times for King Honey.

Comvita is expecting EBITDA of $22.5 to $25.5 so call it $24m

- putting the company with sp of $3.20 = market cap of $225m, & estimated debt of $11m = EBITDA multiple of 9.8X

Did some comparatives as well

what truck me was King Honey ebitda margin about 10% ....Comvita about 10%

Hopefully Comvita will improve

[Balance]

Did some comparatives as well

what truck me was King Honey ebitda margin about 10% ....Comvita about 10%

Hopefully Comvita will improve

Comvita is a turnaround story so there will be plenty of margin improvements in the years ahead imo.

Short term, punters are bored with CVT's rather tight trading range.

Does need another profit upgrade or a takeover offer.

Both are likely imo.

[Marilyn Munroe]

Yes China is important and one would think the current issues with Australia should be good for Cvt. We will know soon if New Zealand is successful in trademarking the word Manuka. If we are successful (we should be) the hundreds of millions of dollars that Australia currently sells as Manuka is likely to migrate to NZ. It should be a game changer for CVT.

Walk in to a lawyers office and tell him you want to make an intectual property claim over a widely used genric name. He will be privately thinking; "Yay! I can afford that winter holiday at a luxurius resort on a tropical island now".

Or do you mean an appelation claim to block the Underarm Bowlers which are subject to intergovernmental negiotiation? These claims apply to a geographic area so any Kiwi producer would have access to the appletaion name not just CVT.

Boop boop de do
Marilyn