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Ann: MCN China Orders Additional Beam Inmarsat Terminals, page-9

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  1. The 8th Wonder
    67 Posts.
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    16/12/14
    14:03
    Post #: 14468430
    Hi guys,

    On fairly conservative assumptions, I think WRR could generate NPAT of $1m in FY15, placing it on roughly 5x.

    Key drivers include:

    >$5m of incremental sales ($4m of iridiumGo sales,$1.8m of Satphone shop) in addition to core business
    Increasing sales from new regions such as Russia
    AUD depreciation, with 70-75% of gross profit in USD and the majority of opex in AUD
    Interest costs reduced to close to zero from $0.4m in FY14
    Lower development expenditure relative to the significant investment over the last 2 years, bodes well for strong free cash generation

    Does anyone else have a view on Fy15 profitability?

    I think WRR is far too cheap based on its international sales, strengthened balance sheet and earnings potential with Iridium Go.
    Last edited by The 8th Wonder: 16/12/14
    WRR Price at posting: 12.5¢ Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 4  Upvote
    lightbulb Created with Sketch.  Great analysis
    Stroke 3 Created with Sketch. Comments Created with Sketch. Reply
 
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