OCA - Oceania Group - retirement villages

[Lawstudent]

Hi All,

Winner69 - have results already been announced?

[winner69]

Hi All,

Winner69 - have results already been announced?

Yes - great presentation pack as well

Nothing can go wrong for F18

https://www.nzx.com/files/attachments/262295.pdf

[Beagle]

https://www.nzx.com/files/attachments/262295.pdf

Have to say I am very very impressed. Key metric for me (cash flow is the lifeblood of business), operating cash flow $38.9m v IPO forecast $31.8m a substantial beat there.
Development margin is also deeply impressive.
NTA is 92 cps so SP only at a very small premium to NTA unlike some, (notice how I avoided using SUM) other companies in this sector.
As expected they have used the vast majority of IPO proceeds to dramatically reduce their gearing which is vastly changed from when this company originally was looking at floating in 2014. With their dramatically restructured balance sheet and very modest gearing they're extremely well positioned to execute and beat FY18 forecast in my opinion. I can see a significant expansion in the PE if they continue to execute well.
Winning the care award a very nice touch. Very happy to be on board buying at 82, 86, 89, 91 and 96 yesterday. Disc: Will buy lots more if this stays under $1.00 today.

[percy]

Incredible result.
Development margin 24.4% as per page 16, or in plain language average devt margin per sale $100.4 k page 14.

[Joshuatree]

Very depressing; w ere TJ and i two of very few taking up the IPO ; surely there must be more.? Be good to hear from you I know a few who sold and Im not trying to keep up with the toaster crowd (in and out and in agin?) and many more scared off?.I hope not.

[Beagle]

Very very strong pipeline of consented developments augers extremely well for profit growth going forward.

[Lawstudent]

I really need to learn how to read financial reports better. My basic 1c, profit seems to be up, EBIT above IPO forecast and revenue above forecast which should equate to higher price?? Occupancy seems good. However the thing that stuck most in my head was page 18 (story about the cat), good to see some positive stories coming out of the place.

Also like that they have a employee share scheme as well.

[peat]

agree its good
exceeding forecast NPAT is mostly revals though..... (just sayin)

[Beagle]

agree its good
exceeding forecast NPAT is mostly revals though..... (just sayin)

Very strong cash flow beat and development margin is very strong and NTA only just below SP...just sayin

[winner69]

Very depressing; w ere TJ and i two of very few taking up the IPO ; surely there must be more.? Be good to hear from you I know a few who sold and Im not trying to keep up with the toaster crowd (in and out and in agin?) and many more scared off?.I hope not.

Yep ...you and t_j are real gurus recognising this in early stages and worth the skiting.

I think the toaster brigade are going to have the toast burnt to cinders - its not going to pop up for a long time.