Skellerup (SKL) Fundamentals

[Beagle]

https://nzx.com/companies/SKL/announcements/268754

Analyst presentation. Yep, N.Z. sales now only 24% of total sales !! and dairy demand still solid.
Nice to support a Kiwi exporter and get a 10%+ gross return plus growth. Disc - I took a modest position in SKL this morning.

[cdonald]

Pretty good result and I have to say a bit unexpected from me. I was expecting a bit more doom and gloom but there is none there to be seen. The share price must be due a re rate now as they have proved that they can cope with NZ farmers feeling blue. 10% divvie is amazing and the prospect of a stronger year next year is better too with the NZD continuing to benifit exporters. Well done

[BlackPeter]

https://nzx.com/companies/SKL/announcements/268754

Analyst presentation. Yep, N.Z. sales now only 24% of total sales !! and dairy demand still solid.
Nice to support a Kiwi exporter and get a 10%+ gross return plus growth. Disc - I took a modest position in SKL this morning.

Quite respectable (and unexpectedly good) result, given all the gloom and doom in the industry - and a great example how a company can increase its revenue and profit by reducing its exposure to New Zealand and Australia and by diversification. Well done team!

Increased revenue (+3%), increased underlying earnings (+6%), improved dividend (+6%), still very solid balance sheet (liabilities to assets 25%) and promising a continuation of the uptrend. Love it . Given that this was a difficult year (and markets expecting terrible things) - I can't wait to see how a good year might look like.

Expect that the SP downtrend might be over

Discl: Holding - accumulated already for some time (following the good example of David Mair - the CEO)

[Beagle]

Yep BP...is a very good result in the circumstances.

At $1.25 its trading on very attractive metrics of a historical PE of <11, dividend yield of exactly 10% gross, plus those that buy now get a 5.5 cent fully imputed divvy in a very short timeframe and as you suggest with lots of overseas sales and the currency tailwind still to come no wonder the directors are confident of growth to come.

[Joshuatree]

The currency should be helping this exporting company in FY2016. The problem is two of their biggest selling consumable lines, the rubber attachments used in milking cows and the slurry handling rubber couplings used in iron ore extraction, have customers facing severe headwinds. These headwinds are likely to delay the aforementioned purchases rather than stopping them. But it does mean the first half of financial year coming up could be soft.

There are other good things happening in Europe. Maserati sales exceeded 35,000 in 2014 and are on target to exceed 50,000 in 2015. Skellerup supplies all the driveline couplings for those through their Italian factory. Even better Alfa Romeo are using a modified version of the mid size Maserati platform as the basis for their new rear wheel drive BMW challenging saloon. If that takes off we could see Skellerup driveline coupling sales increase by a factor of 5. What would that do the bottom line in coming years?

SNOOPY

Aussie (Iron ore) still a prob and dairy ok "Relatively solid" but down 9% on pcp.
The europe car thing to look forward to still.
I agree pretty solid considering.

[James108]

Bought in at 1.18 yesterday expecting NPAT to be 10-15% down. Very pleasantly suprised.

[Joshuatree]

Excellent buying/timing James

[Beagle]

A whopping 6.5 million shares changed hands so far today. Fair to say the result has been very well received by the market. Normally huge volume like this is a precursor to the SP heading north once long time holders who remain disenfranchised have exhausted their holdings...which looks to be happening at a quick rate of knots !!

[percy]

Liked the result so much I brought in today.

[sb9]

Was on my watch list all along but didn't have enough bravery to dive in purely due to dairy prices.

Good luck to all.

Disc: do not hold, might keep watching for a good entry.