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Thread: Seeka

  1. #341
    Speedy Az winner69's Avatar
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    Wow ...some upgrade or is it an announcement I should read more throughly?


    EBITDA guidance updated
    Seeka updates its previous guidance of EBITDA for FY2019 to a range of between $36.5m to $37.5m, from the previous guidance of between $27.5m and $28.5m.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  2. #342
    Dilettante
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    Quote Originally Posted by winner69 View Post
    Wow ...some upgrade or is it an announcement I should read more throughly?


    EBITDA guidance updated
    Seeka updates its previous guidance of EBITDA for FY2019 to a range of between $36.5m to $37.5m, from the previous guidance of between $27.5m and $28.5m.
    Looks very good indeed. The dry weather has been good for them and they are forecasting an overall harvesting of 32 million trays, up nearly 2 million from last year's record. All of the increase is in Sun Gold which is great to see. Tempting to start buying SEK again

  3. #343
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by iceman View Post
    Looks very good indeed. The dry weather has been good for them and they are forecasting an overall harvesting of 32 million trays, up nearly 2 million from last year's record. All of the increase is in Sun Gold which is great to see. Tempting to start buying SEK again
    Good buying around $4.30 ;
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    "Prediction is very difficult, especially about the future" (Niels Bohr)

  4. #344
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    Quote Originally Posted by BlackPeter View Post
    Good buying around $4.30 ;
    And even better selling in the $6.30 - $ 6.50 range last year :-)
    But seriously, I feel it is time to reenter very soon. Only lack of funds holding me back right now.

  5. #345
    Legend peat's Avatar
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    Quote Originally Posted by winner69 View Post
    Wow ...some upgrade or is it an announcement I should read more throughly?


    EBITDA guidance updated
    Seeka updates its previous guidance of EBITDA for FY2019 to a range of between $36.5m to $37.5m, from the previous guidance of between $27.5m and $28.5m.
    half of this is in property sales , however so cannot be relied on for future years.

    Subsequent sales of Seeka's
    Northland orchard portfolio that are either agreed or have settled relate to
    an aggregate total sum of $25.9m, representing a gain on sale of $4.2m,
    assuming all sales achieve settlement.
    For clarity, nothing I say is advice....

  6. #346
    IMO
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    The more profitable SunGold production will for the first time exceed green kiwi tray production, got to be a booster.

  7. #347
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    Correct Peat that half the forecasted increase in the profit update is from property sales but that also means the other half is from underlying earnings. That is quite a substantial upgrade from the earlier guidance. Sun Gold production fast increasing and market for all we can produce basically.
    I note that post harvest operations increased EBIDTA 46% between 2017 & 2018 which indicates that the economies of scale, after the Kerikeri acquisition and growth in the last few years, is starting to deliver benefits.
    But retail and Australia still disappointing.

    Overall I think with the re-capitalisation through the rights issue giving them an extra $48m, the size of the post harvest operations and capital already invested for further growth, SEK is well positioned for further growth in volumes and profits.
    Last edited by iceman; 12-03-2019 at 02:27 PM.

  8. #348
    ShareTrader Legend bull....'s Avatar
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    and some of the earnings uplift is due to smaller sweeter fruit and the implied assumption it obtains higher prices so theres a seasonal factor in that seeka never expected this to happen in there forecasting. so need to discount this portion of earnings as a one off
    one step ahead of the herd

  9. #349
    Dilettante
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    Lates addition:

    SEK
    13/03/2019 09:37
    TRANSACT
    PRICE SENSITIVE
    REL: 0937 HRS Seeka Limited

    TRANSACT: SEK: SEEKA CONTINUES ITS HEARTLAND GROWTH STORY

    Seeka Limited [NZX:SEK] announces that it has agreed to purchase 100% of
    Aongatete Coolstores Limited for a combined business value of $25m, subject
    to adjustments. This acquisition is part of Seeka's heartland growth strategy
    and is expected to add an estimated 4m to 4.5m trays to Seeka's catchment and
    to deliver sustainable EBITDA of between $3.5m and $4.5m.

    Seeka's current guidance for FY2019 excludes the impact of this crop and
    EBITDA.

    Seeka expects its net bank debt to EBITDA ratio to be within the policy range
    of 1.5x to 2.5x by the end of the year taking into account anticipated
    orchard sales, gains on those sales, operational performance, and capital
    expenditure.

    Aongatete is an integrated kiwifruit orcharding and post-harvest company
    operating across the Bay of Plenty. Its location is within Seeka's
    traditional catchment, the assets acquired are of excellent quality and the
    people and operation are renowned for their excellent performance for
    growers, grower focus and innovation.

    The purchase is anticipated to settle on 18 March 2019.
    Ends.

  10. #350
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by Pmdv77 View Post
    Seeka have paid a stupid amount of money for a landlocked site with no growth potential and only 1m TE of supply (~25%) that can be committed long term. Interesting that a forecast earnings multiple of between 6 and 7 has been paid based on forward earnings projections but on actual results for the target business would equate to something around 15 to 20x. Will be worth watching to see if the earnings are generated or not in years to come...
    Care to tell us the base for your statement? I can't read out of Seekas anouncement the current earnings?

    Did you happen to be the losing bidder for the site?
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

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