Announcement • Oct 01
Pacific Smiles Group Limited, Annual General Meeting, Oct 31, 2025 Pacific Smiles Group Limited, Annual General Meeting, Oct 31, 2025. Location: level 5, 126 phillip street, nsw 2000, sydney Australia Board Change • Sep 25
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. 1 independent director (5 non-independent directors). Non-Executive Director Steven Rubic is the most experienced director on the board, commencing their role in 2023. Independent Non-Executive Director Brent Cubis was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. New Risk • Aug 20
New major risk - Revenue and earnings growth Earnings have declined by 21% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 21% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (1.0% net profit margin). Reported Earnings • Aug 14
Full year 2025 earnings: Revenues exceed analyst expectations Full year 2025 results: Revenue: AU$196.3m (up 8.9% from FY 2024). Net income: AU$1.97m (down 76% from FY 2024). Profit margin: 1.0% (down from 4.5% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.8%. Revenue is forecast to grow 5.3% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Healthcare industry in Australia. New Risk • Mar 21
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.9% Last year net profit margin: 3.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 03
First half 2025 earnings released: EPS: AU$0.042 (vs AU$0.028 in 1H 2024) First half 2025 results: EPS: AU$0.042 (up from AU$0.028 in 1H 2024). Revenue: AU$99.0m (up 9.5% from 1H 2024). Net income: AU$6.70m (up 52% from 1H 2024). Profit margin: 6.8% (up from 4.9% in 1H 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Healthcare industry in Australia. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. New Risk • Feb 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.9% Last year net profit margin: 3.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (dividend per share is over 5x earnings per share). Profit margins are more than 30% lower than last year (0.9% net profit margin). Announcement • Feb 07
Pacific Smiles Group Limited to Report First Half, 2025 Results on Feb 27, 2025 Pacific Smiles Group Limited announced that they will report first half, 2025 results on Feb 27, 2025 Announcement • Feb 05
Pacific Smiles Group Limited Announces Change of Company Secretary Pacific Smiles Group Limited announced that Mr. David Hwang and Ms Elizabeth Spooner of Confidant Partners have been appointed as Joint Company Secretaries, effective immediately. Ms Lucy Rowe has notified the Board of her resignation as Company Secretary, effective immediately. Announcement • Dec 16
Pacific Smiles Group Limited Announces Change of Company Secretary Pacific Smiles Group Limited announced that Ms. Lucy Rowe of Automic Group will be appointed as Company Secretary, effective immediately. Ms. Belinda Cleminson has notified the Board of her resignation as Company Secretary, effective immediately. Ms. Cleminson will step down as Company Secretary following her resignation from Automic Group, the Company's corporate secretarial services provider. Recent Insider Transactions • Dec 01
Non-Executive Director recently sold AU$75k worth of stock On the 27th of November, Jodie Leonard sold around 39k shares on-market at roughly AU$1.95 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$114k more than they bought in the last 12 months. Announcement • Nov 29
Pacific Smiles Group Limited Announces Board Resignations The Board of Pacific Smiles Group Limited announced that it is intended that the Chairman of Pacific Smiles, Ms Giselle Collins, as well as two Non-Executive Directors will step down from the Board following Pacific Smiles' next Board meeting on 16 December 2024. Price Target Changed • Nov 23
Price target increased by 16% to AU$1.90 Up from AU$1.63, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of AU$1.95. The company is forecast to post earnings per share of AU$0.064 for next year compared to AU$0.05 last year. Board Change • Nov 23
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (4 non-independent directors). Non-Executive Director Scott Kalniz is the most experienced director on the board, commencing their role in 2021. Independent Non-Executive Director Brent Cubis was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Oct 18
Pacific Smiles Group Limited, Annual General Meeting, Nov 20, 2024 Pacific Smiles Group Limited, Annual General Meeting, Nov 20, 2024. Location: at level 5, 26 phillip street, sydney nsw 2000 Australia Announcement • Oct 15
Pacific Smiles Group Limited Appoints Gary Carroll as Director Pacific Smiles Group Limited announced the appointment of Gary Carroll as Director. Date of appointment is on 14 October 2024. Announcement • Oct 01
Genesis Capital Manager I Pty Ltd cancelled the acquisition of 81.25% stake in Pacific Smiles Group Limited (ASX:PSQ) from HBF Health Limited, MA Financial Group Limited (ASX:MAF), Spheria Asset Management Pty Ltd, Beam Investments Co Pty Ltd, Pinnacle Investment Management Group Limited (ASX:PNI) and others. Genesis Capital Manager I Pty Ltd agreed to acquire 81.25% stake in Pacific Smiles Group Limited (ASX:PSQ) from HBF Health Limited, MA Financial Group Limited (ASX:MAF), Spheria Asset Management Pty Ltd, Beam Investments Co Pty Ltd, Pinnacle Investment Management Group Limited (ASX:PNI) and others on December 16, 2023. Shareholders would have opportunity to elect AUD1.90 cash per Pacific Smiles share; or number of ordinary shares in the capital of Beam Dental Holdings Ltd, the ultimate holding company of Genesis BidCo or combination of Cash Consideration and Scrip Consideration per Pacific Smiles share. The Indicative Proposal is subject to several conditions including satisfactory diligence, access to Pacific Smiles’ senior management team and negotiation of relevant transaction documents. The Board acknowledges the share price performance of Pacific Smiles has been disappointing. Notwithstanding this, the Board is confident in the prospects of Pacific Smiles, including having regard to the appointment of Mr Andrew Vidler as Managing Director as announced to the ASX on 19 December 2023. In this context, the Board considers that the Indicative Proposal is opportunistic and materially undervalues Pacific Smiles and has therefore rejected the Indicative Proposal. As of March 19, 2024 Pacific Smiles Group Limited received a revised non-binding proposal from Genesis Capital Manager I Pty Ltd for AUD 1.75 in cash per share. As of July 28, 2024 Pacific Smiles Group Limited received a revised non-binding proposal from Genesis Capital Manager I Pty Ltd for AUD 1.9 in cash per share. Fully funded via binding commitments to provide the debt and equity funding required. Subject to the terms of the Offer, Pacific Smiles shareholders who accept the Offer may elect to receive their consideration - All Cash Consideration of AUD 1.90 cash per Pacific Smiles share, All Scrip Consideration of 1 Genesis Share per Pacific Smiles share and Mixed Consideration of 47.5 cents cash and 0.75 Genesis Shares per Pacific Smiles share. The Offer is subject to a 90% minimum acceptance condition, a Pacific Smiles Board recommendation condition and a customary no prescribed occurrences condition. Transaction is subject to entering into a binding scheme implementation agreement.
Pacific Smiles has appointed Greenhill & Co as financial adviser and Gilbert + Tobin as legal adviser. Jarden Australia Pty Limited is acting as financial advisor to Genesis Capital Manager I Pty Ltd. Clifford Chance is acting as the legal advisor to Genesis Capital Manager I Pty Ltd.
Genesis Capital Manager I Pty Ltd cancelled the acquisition of 81.25% stake in Pacific Smiles Group Limited (ASX:PSQ) from HBF Health Limited, MA Financial Group Limited (ASX:MAF), Spheria Asset Management Pty Ltd, Beam Investments Co Pty Ltd, Pinnacle Investment Management Group Limited (ASX:PNI) and others on September 30, 2024. Pacific Smiles’ Board Intends to Recommend Shareholders reject Genesis Capital bid. Announcement • Aug 30
Pacific Smiles Group Limited Announces Resignation of Matthew Cordingley as Chief Financial Officer Pacific Smiles Group Limited announced the resignation of Chief Financial Officer, Matthew Cordingley. The Company will commence a recruitment process to appoint a new Chief Financial Officer. Mr. Cordingley will remain with Pacific Smiles and work with the Board to support an effective transition. The Company will provide an update on the recruitment process in due course. Announcement • Aug 28
Pacific Smiles Group Limited Proposes Fully Franked Final Dividend for the Year Ended 30 June 2024, Payable on 10 October 2024 The Directors of Pacific Smiles Group Limited have recommended the payment of a final dividend of 3.25 cents (2023: 2.27 cents) per ordinary share, fully franked. The aggregate amount of the proposed dividend expected to be paid out of prof it reserves, but not recognised as a liability as at the end of the financial year is AUD 5,182,557 (2023: AUD 3,622,510). The record date for determining entitlements to the 2024 final dividend is 25 September 2024, with the payment date being 10 October 2024. Announcement • Aug 23
NDC Holdco Pty Ltd cancelled the acquisition of Pacific Smiles Group Limited (ASX:PSQ) from Genesis Capital Manager I Pty Ltd, HBF Health Limited, MA Financial Group Limited (ASX:MAF), Alison Hughes and others. NDC Holdco Pty Ltd agreed to acquire Pacific Smiles Group Limited (ASX:PSQ) from Genesis Capital Manager I Pty Ltd, HBF Health Limited, MA Financial Group Limited (ASX:MAF), Alison Hughes and others for AUD300 million on April 29, 2024. As of July 23, 2024 NDC Australia Pty Ltd has increased the price per share from AUD1.9 to AUD1.91. As of August 1, 2024 NDC Australia Pty Ltd has increased the price per share from AUD 1.91 share to AUD 2.05 per share. Pacific Smiles will have the discretion to pay shareholders a fully franked dividend of up to a maximum of 12 cents per share, with the cash consideration of AUD1.90 per share under the Scheme to be reduced by the amount of any such Permitted Dividend. NDC Holdco and NDC Finco 2 will fund their portion of the Scheme Consideration through a mix of debt and equity financing. The amount available under the Debt Facility to fund the Scheme Consideration and transaction costs is AUD 170 million. The amount available under the Equity Commitment Letter is in excess of AUD 148 million. The Board of Pacific Smiles unanimously recommends shareholders vote in favor of the Scheme at the Scheme meeting, and the Directors will vote all Pacific Smiles shares in which they have a relevant interest or which they control in favor of the Scheme at the Scheme meeting. The Scheme is conditional upon the satisfaction of certain conditions, including Pacific Smiles shareholder approval in accordance with the requirements of the Corporations Act 2001, Court; An Independent Expert concluding in its Independent Expert’s Report that the Scheme is in the best interests of Pacific Smiles shareholders; and Other customary conditions, including that no material adverse change or any prescribed occurrence occurs prior to the second Court hearing. The Scheme, if approved by Pacific Smiles shareholders, is expected to be implemented in August 2024. In the event that FIRB approval is delayed beyond 27 September 2024, a ticking fee of one cent per share per month will accrue after each full calendar month until FIRB approval is obtained. The Scheme is expected to be implemented by the end of August 2024. As of August 8, 2024, Pacific Smiles shareholders not approved the NDC Scheme.
Greenhill & Co., Inc. is acting as financial adviser to Pacific Smiles. Gilbert and Tobin is acting as legal adviser to Pacific Smiles. Deloitte Corporate Finance Pty Ltd provided fairness opinion to Board and concluded the Scheme is fair and reasonable. Automic Pty Ltd. is the Registry to Pacific Smiles.
NDC Holdco Pty Ltd cancelled the acquisition of Pacific Smiles Group Limited (ASX:PSQ) from Genesis Capital Manager I Pty Ltd, HBF Health Limited, MA Financial Group Limited (ASX:MAF), Alison Hughes and others on August 23, 2024. Announcement • Aug 09
Pacific Smiles Group Limited Announces Resignation of Mark Bloom as Non-Executive Director Pacific Smiles Group Limited announced the resignation of Non-Executive Director Mark Bloom with immediate effect. Upcoming Dividend • Aug 08
Upcoming dividend of AU$0.07 per share Eligible shareholders must have bought the stock before 15 August 2024. Payment date: 27 August 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.3%. Lower than top quartile of Australian dividend payers (6.3%). Lower than average of industry peers (2.7%). Announcement • Aug 08
Pacific Smiles Group Limited to Report Fiscal Year 2024 Results on Aug 28, 2024 Pacific Smiles Group Limited announced that they will report fiscal year 2024 results on Aug 28, 2024 Upcoming Dividend • Jul 31
Upcoming dividend of AU$0.07 per share Eligible shareholders must have bought the stock before 07 August 2024. Payment date: 19 August 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.3%. Lower than top quartile of Australian dividend payers (6.3%). Lower than average of industry peers (2.6%). Announcement • May 01
NDC Holdco Pty Ltd agreed to acquire Pacific Smiles Group Limited (ASX:PSQ) from Genesis Capital Manager I Pty Ltd and other for AUD300 million. NDC Holdco Pty Ltd agreed to acquire Pacific Smiles Group Limited (ASX:PSQ) from Genesis Capital Manager I Pty Ltd and other for AUD300 million on April 29, 2024. Pacific Smiles will have the discretion to pay shareholders a fully franked dividend of up to a maximum of 12 cents per share, with the cash consideration of AUD1.90 per share under the Scheme to be reduced by the amount of any such Permitted Dividend. The Board of Pacific Smiles unanimously recommends shareholders vote in favor of the Scheme at the Scheme meeting, and the Directors will vote all Pacific Smiles shares in which they have a relevant interest or which they control in favor of the Scheme at the Scheme meeting. The Scheme is conditional upon the satisfaction of certain conditions, including Pacific Smiles shareholder approval in accordance with the requirements of the Corporations Act 2001, Court and Foreign Investment Review Board (FIRB) approval; An Independent Expert concluding in its Independent Expert’s Report that the Scheme is in the best interests of Pacific Smiles shareholders; and Other customary conditions, including that no material adverse change or any prescribed occurrence occurs prior to the second Court hearing. The Scheme, if approved by Pacific Smiles shareholders, is expected to be implemented in August 2024. In the event that FIRB approval is delayed beyond 27 September 2024, a ticking fee of one cent per share per month will accrue after each full calendar month until FIRB approval is obtained. The Scheme is expected to be implemented by the end of August 2024. Greenhill & Co., Inc. is acting as financial adviser to Pacific Smiles. Gilbert and Tobin is acting as legal adviser to Pacific Smiles. Valuation Update With 7 Day Price Move • May 01
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to AU$1.88, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 19x in the Healthcare industry in Australia. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at AU$3.22 per share. Board Change • Mar 21
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Non-Executive Director Giselle Collins was the last director to join the board, commencing their role in 2023. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Feb 07
Pacific Smiles Group Limited to Report First Half, 2024 Results on Feb 27, 2024 Pacific Smiles Group Limited announced that they will report first half, 2024 results on Feb 27, 2024 Announcement • Dec 19
Pacific Smiles Group Limited Appoints Andrew Vidler as Managing Director, Effective January 15, 2024 Pacific Smiles Group announced the appointment of its new Managing Director, Mr. Andrew Vidler, following a comprehensive executive search process. The appointment takes effect from 15 January 2024. Mr. Vidler has extensive experience in healthcare and working with health industry professionals in the pharmacy and healthcare service industries. He was most recently Executive General Manager Retail at Wesfarmers Health which included responsibility for the Priceline and Priceline Pharmacy business. Mr. Vidler was formerly an Executive General Manager at EBOS Group Limited where, for over 20 years he held leadership roles at Symbion, Mayne Group and FH Faulding. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to AU$1.09, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 21x in the Healthcare industry in Australia. Total loss to shareholders of 45% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at AU$1.87 per share. Recent Insider Transactions • Nov 28
Non-Executive Director recently bought AU$92k worth of stock On the 24th of November, Steven Rubic bought around 100k shares on-market at roughly AU$0.92 per share. This transaction increased Steven's direct individual holding by 5x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$236k more in shares than they have sold in the last 12 months. Price Target Changed • Nov 23
Price target decreased by 23% to AU$1.30 Down from AU$1.68, the current price target is an average from 4 analysts. New target price is 41% above last closing price of AU$0.93. Stock is down 41% over the past year. The company is forecast to post earnings per share of AU$0.025 for next year compared to AU$0.015 last year. Announcement • Nov 23
Pacific Smiles Group Limited Appoints Giselle Collins as Director Pacific Smiles Group Limited announced that the appointment of Giselle Collins as director with effect from November 22, 2023. Major Estimate Revision • Nov 23
Consensus EPS estimates fall by 19% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from AU$0.055 to AU$0.044 per share. Revenue forecast steady at AU$189.3m. Net income forecast to grow 212% next year vs 19% growth forecast for Healthcare industry in Australia. Consensus price target down from AU$1.68 to AU$1.57. Share price fell 2.7% to AU$1.08 over the past week. Announcement • Oct 20
Pacific Smiles Group Limited, Annual General Meeting, Nov 22, 2023 Pacific Smiles Group Limited, Annual General Meeting, Nov 22, 2023, at 16:30 AUS Eastern Standard Time. Location: Level 5, 126 Phillip Street, Sydney New South Wales Australia Agenda: To receive and to consider the Annual Financial Report of the Company for the financial year ended 30 June 2023 together with the declaration of the Directors, the Directors' Report, the Remuneration Report and the Auditor's Report for that financial year; to consider adoption of Remuneration Report; to consider election of Steven Rubic as Director; to consider election of Jodie Leonard as Director; to consider election of Giselle Collins as Director; to consider re-election of Dr. Scott Kalniz as Director; to consider adoption of the Long Term Incentive Plan; and to consider Board Spill Meeting (Conditional Item). Announcement • Sep 20
Pacific Smiles Group Announces Simon Rutherford Not Stands for Re-Election as Non-Executive Director and Chair of the Audit & Risk Management Committee Pacific Smiles Group announced that Non-Executive Director and Chair of the Audit & Risk Management Committee, Simon Rutherford, advised the Board of his intention not to stand for re-election and to retire as an Independent Director at the close of the 2023 AGM. Upcoming Dividend • Sep 14
Upcoming dividend of AU$0.023 per share at 1.9% yield Eligible shareholders must have bought the stock before 21 September 2023. Payment date: 09 October 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.9%. Lower than top quartile of Australian dividend payers (7.1%). Lower than average of industry peers (2.7%). Reported Earnings • Aug 25
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: AU$0.015 (up from AU$0.028 loss in FY 2022). Revenue: AU$165.3m (up 19% from FY 2022). Net income: AU$2.42m (up AU$6.95m from FY 2022). Profit margin: 1.5% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 45%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Healthcare industry in Australia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Announcement • Aug 24
Pacific Smiles Group Limited Announces Dividend for the Six Months Ended June 30, 2023, Payable on September 10, 2023 Pacific Smiles Group Limited announced dividend of AUD 0.02270000 per ordinary fully paid share for the six months ended June 30, 2023, payable on September 10, 2023. Ex Date: September 21, 2023. Record Date: September 22, 2023. Announcement • Aug 11
Pacific Smiles Group Limited Announces Chief Executive Officer Changes Pacific Smiles Group Limited announced the resignation of its Managing Director & Chief Executive Officer (CEO), Mr. Phil McKenzie, with effect from 31 August 2023. An executive search is underway for a new CEO and the company's Chief Commercial Officer, Mr. Paul Robertson has been appointed Interim Chief Executive Officer. His appointment minimizes disruption to the business and ensures that leadership of the Company remains focused on delivering the Company's operational and strategic agenda. Paul Robertson Biography: Mr. Robertson is an experienced Chief Executive Officer and senior executive. He joined Pacific Smiles Group in 2008 as Chief Operating Officer where he spent 13 years building a deep understanding of the Company's operations. In July 2022, he was appointed Chief Commercial Officer, enabling him to leverage his knowledge of the business and build on established relationships. As a CEO, Mr. Robertson has extensive experience leading private hospitals including Calvary John James Hospital, Lingard, Christo Road, Lady Davidson, Warners Bay, Castlecrag and Mosman Private Hospitals. Mr. Robertson was appointed Interim Chief Executive Officer on the 1 September 2023 in order to facilitate an orderly handover. Mr. Robertson's appointment as Interim Chief Executive Officer will continue for the period of the search for a permanent Chief Executive Officer. Announcement • Jul 12
Pacific Smiles Group Limited to Report Fiscal Year 2023 Results on Aug 24, 2023 Pacific Smiles Group Limited announced that they will report fiscal year 2023 results on Aug 24, 2023 Announcement • Jun 30
Pacific Smiles Group Limited Announces Board Changes Pacific Smiles Group announced that Hilton Brett has tendered his resignation as a Non-Executive Director, effective 30 June 2023. The company announced Jodie Leonard will chair the Nomination and Remuneration Committee. Buying Opportunity • May 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 9.4%. The fair value is estimated to be AU$1.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last 3 years. Meanwhile, the company became loss making. Announcement • May 09
Pacific Smiles Group Limited Announces Board Changes Pacific Smiles Group announced the appointment of two new Non-Executive Directors to the Board, Ms. Jodie Leonard and Mr. Steven Rubic, effective 8 May 2023. Jodie Leonard has over 30 years of experience in various marketing roles at firms including GE Capital (as Chief Marketing Officer), Nine Network Australia, Telstra, British Airways, Colgate Palmolive, and Unilever. She is currently a Non-Executive Director for XPON Technologies Group (ASX: XPN) and The Great Ocean Road Coast & Parks Authority, with previous board experience including FlexiGroup Limited (ASX: FXL), X2M Connect Limited (ASX:X2M), BWX Limited (ASX: BWX), RACV, Beyond Bank Australia, and Kinetic Super.Steven Rubic has over 30 years of experience in senior leadership roles, most recently as CEO of private healthcare provider Healthscope, and previously CEO of I-MED Radiology Network and St Vincent's & Mater Health. He is currently a Non-Executive Director of Healthscope and the Mercy Partners, with previous board experience including Monte Sant' Angelo Mercy College, the Garvan Institute of Medical Research, the Chris O'Brien Lifehouse,the Macquarie University Council, and the NSW Private Hospitals Association. Independent Non-Executive Director Mr. Hilton Brett has decided not to offer himself for re-election at the 2023 Annual General Meeting (AGM). Hilton joined the Board in 2018 and has been a member and Chair of the Nomination and Remuneration Committee and a member of the Property Sub-Committee of the Board. Buying Opportunity • Mar 29
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 23%. The fair value is estimated to be AU$1.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Feb 27
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 25%. The fair value is estimated to be AU$1.54, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • Feb 24
Price target decreased by 14% to AU$1.57 Down from AU$1.83, the current price target is an average from 4 analysts. New target price is 22% above last closing price of AU$1.28. Stock is down 47% over the past year. The company is forecast to post earnings per share of AU$0.042 next year compared to a net loss per share of AU$0.028 last year. Reported Earnings • Feb 22
First half 2023 earnings released: EPS: AU$0.001 (vs AU$0.014 loss in 1H 2022) First half 2023 results: EPS: AU$0.001 (up from AU$0.014 loss in 1H 2022). Revenue: AU$82.6m (up 24% from 1H 2022). Net income: AU$222.0k (up AU$2.41m from 1H 2022). Profit margin: 0.3% (up from net loss in 1H 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Healthcare industry in Australia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Announcement • Feb 02
Pacific Smiles Group Limited to Report First Half, 2023 Results on Feb 22, 2023 Pacific Smiles Group Limited announced that they will report first half, 2023 results on Feb 22, 2023 Buying Opportunity • Jan 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 1.4%. The fair value is estimated to be AU$1.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Jan 10
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 1.4%. The fair value is estimated to be AU$1.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Dec 09
Now 25% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be AU$2.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years. Meanwhile, the company became loss making. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Non Executive Director Simon Rutherford was the last independent director to join the board, commencing their role in 2003. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 20
Pacific Smiles Group Limited, Annual General Meeting, Nov 22, 2022 Pacific Smiles Group Limited, Annual General Meeting, Nov 22, 2022, at 16:30 AUS Eastern Standard Time. Agenda: To receive and to consider the Annual Financial Report of the Company for the financial year ended 30 June 2022 together with the declaration of the Directors, the Directors' Report, the Remuneration Report and the Auditor's Report for that financial year; to consider adoption of Remuneration Report; to consider election of directors; and to consider other matters if any. Price Target Changed • Aug 30
Price target decreased to AU$1.99 Down from AU$2.15, the current price target is an average from 4 analysts. New target price is 34% above last closing price of AU$1.48. Stock is down 38% over the past year. The company is forecast to post earnings per share of AU$0.03 next year compared to a net loss per share of AU$0.028 last year. Reported Earnings • Aug 18
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: AU$0.028 loss per share (down from AU$0.083 profit in FY 2021). Revenue: AU$139.5m (down 8.9% from FY 2021). Net loss: AU$4.53m (down 135% from profit in FY 2021). Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 38%. Over the next year, revenue is forecast to grow 24%, compared to a 2.6% growth forecast for the Healthcare industry in Australia. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Aug 17
Pacific Smiles Omits to Declare Final Dividend Pacific Smiles recorded a net loss for the year ended 30 June 2022 and continues to face an uncertain fiscal and environmental outlook in the next financial year. Therefore, the company has not declared a final dividend. The company plans to resume dividend distributions in the next financial year should trading conditions improve as expected. Price Target Changed • Jul 19
Price target decreased to AU$2.15 Down from AU$2.44, the current price target is an average from 3 analysts. New target price is 23% above last closing price of AU$1.75. Stock is down 27% over the past year. The company is forecast to post a net loss per share of AU$0.02 compared to earnings per share of AU$0.083 last year. Announcement • Jul 14
Pacific Smiles Group Limited to Report Fiscal Year 2022 Results on Aug 17, 2022 Pacific Smiles Group Limited announced that they will report fiscal year 2022 results on Aug 17, 2022 Price Target Changed • Jun 01
Price target decreased to AU$2.67 Down from AU$2.98, the current price target is an average from 3 analysts. New target price is 70% above last closing price of AU$1.57. Stock is down 38% over the past year. The company is forecast to post a net loss per share of AU$0.019 compared to earnings per share of AU$0.083 last year. Major Estimate Revision • Apr 27
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from AU$150.0m to AU$147.9m. Losses expected to increase from AU$0 per share to AU$0.01. Healthcare industry in Australia expected to see average net income growth of 29% next year. Consensus price target down from AU$2.98 to AU$2.90. Share price rose 5.0% to AU$2.29 over the past week. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Non Executive Director Simon Rutherford was the last independent director to join the board, commencing their role in 2003. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Feb 22
Consensus EPS estimates fall by 70% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from AU$152.0m to AU$148.4m. Losses expected to increase from AU$0.02 per share to AU$0. Healthcare industry in Australia expected to see average net income growth of 16% next year. Consensus price target broadly unchanged at AU$3.03. Share price fell 16% to AU$2.28 over the past week. Announcement • Feb 17
Pacific Smiles Group Limited Announces No Interim Dividend for the First Half of 2022 Pacific Smiles Group Limited announced No interim dividend declared for H1 2022 (H1 2021:2.4 cents per share). Reported Earnings • Feb 17
First half 2022 earnings: EPS in line with expectations, revenues disappoint First half 2022 results: AU$0.014 loss per share (down from AU$0.064 profit in 1H 2021). Revenue: AU$66.9m (down 15% from 1H 2021). Net loss: AU$2.19m (down 122% from profit in 1H 2021). Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 21%, compared to a 10% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Buying Opportunity • Feb 17
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be AU$3.20, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% per annum over the last 3 years. Earnings per share has grown by 18% per annum over the last 3 years. Announcement • Feb 07
Pacific Smiles Group Limited Announces Appointment of Andrew Knott as Non-Executive Director Pacific Smiles Group Limited announced that Mr. Andrew Knott will join the Board as a Non-Executive Director, effective 7 February 2022. Up until January 2020, Andrew held the role of President Verizon within the Advertising Agency, the Publicis Groupe. Leading over 850 staff delivering across media, customer experience, data and analytics, marketing optimization and creative for Verizon Consumer, Business, and Media Groups, Andrew was accountable for accelerating change for marketing, channel development, sales effectiveness, customer analytics and operations, overseeing $1.5 billion in client spend and delivering over $200 million in group revenue. On the operating business side, Andrew has held Chief Marketing roles at JPMorgan Chase & Co, National Australia Bank (NAB) and as Vice President Digital Transformation and Marketing at McDonald's. At JPMorgan Andrew managed a 360 person team and oversaw $1 Billion spend across media, technology, and production whilst at NAB his role incorporated brand, sponsorship, events, content and retail merchandising; marketing for cards, deposits, home lending, unsecured business lending, business financing, wealth; institutional thought leadership; customer strategy, lead generation; personalisation, digital acquisition (in conjunction with digital function); customer data/CRM, analytics and insights, and satisfaction measurements. At McDonald's Andrew led the team responsible for launching and scaling the digital commerce offering across the region and grew revenues to $350 Million in two years. Major Estimate Revision • Jan 28
Consensus EPS estimates fall by 31% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from AU$154.8m to AU$152.0m. EPS estimate also fell from AU$0.02 per share to AU$0.02 per share. Net income forecast to shrink 80% next year vs 10% growth forecast for Healthcare industry in Australia . Consensus price target broadly unchanged at AU$3.08. Share price fell 6.3% to AU$2.55 over the past week. Buying Opportunity • Jan 27
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be AU$3.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% per annum over the last 3 years. Earnings per share has grown by 18% per annum over the last 3 years. Announcement • Dec 15
HBF Health Limited acquired 10% stake Pacific Smiles Group Limited (ASX:PSQ) from TDM Growth Partners for approximately AUD 41.9 million. HBF Health Limited acquired 10% stake Pacific Smiles Group Limited (ASX:PSQ) from TDM Growth Partners for approximately AUD 41.9 million December 13, 2021.
HBF Health Limited completed the acquisition of 10% stake Pacific Smiles Group Limited (ASX:PSQ) from TDM Growth Partners on December 13, 2021. Executive Departure • Dec 02
Non-Executive Director Benjamin Gisz has left the company On the 23rd of November, Benjamin Gisz's tenure as Non-Executive Director ended. As of September 2021, Benjamin still personally held 23.07m shares (AU$62m worth at the time). A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 2.75 years. Reported Earnings • Aug 20
Full year 2021 earnings released: EPS AU$0.083 (vs AU$0.042 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$153.2m (up 28% from FY 2020). Net income: AU$13.0m (up 103% from FY 2020). Profit margin: 8.5% (up from 5.3% in FY 2020). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Jul 16
Pacific Smiles Group Limited Provides Earning Guidance for the Fiscal Year 2021 Pacific Smiles Group Limited provided earning guidance for the fiscal Year 2021. For the year, the company expects patient fees of approximately $240.8 million, which is 29% higher than the previous year and at the top end of previously advised guidance range. Representing growth of approximately 41% on FY20. Recent Insider Transactions • May 18
Non-Executive Director recently bought AU$101k worth of stock On the 14th of May, Mark Bloom bought around 38k shares on-market at roughly AU$2.65 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$489k more in shares than they have sold in the last 12 months. Executive Departure • Apr 14
Chief Financial Officer has left the company On the 8th of April, Allanna Ryan's tenure as Chief Financial Officer ended after 4.1 years in the role. We don't have any record of a personal shareholding under Allanna's name. A total of 3 executives have left over the last 12 months. Upcoming Dividend • Mar 17
Upcoming Dividend of AU$0.024 Per Share Will be paid on the 9th of April to those who are registered shareholders by the 24th of March. The trailing yield of 1.9% is below the top quartile of Australian dividend payers (5.5%), and is lower than industry peers (2.2%). Announcement • Mar 04
Pacific Smiles Group Limited has completed a Follow-on Equity Offering in the amount of AUD 15.000001 million. Pacific Smiles Group Limited has completed a Follow-on Equity Offering in the amount of AUD 15.000001 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,769,231
Price\Range: AUD 2.6
Discount Per Security: AUD 0.0845
Transaction Features: Subsequent Direct Listing Major Estimate Revision • Feb 23
Analysts update estimates The 2021 consensus revenue estimate increased from AU$154.5m to AU$156.5m. Earnings per share (EPS) estimate was lowered from AU$0.084 to AU$0.076 for the same period. Net income is expected to grow by 0.3% next year compared to 62% growth forecast for the Healthcare industry in Australia. The consensus price target increased from AU$2.80 to AU$2.92. Share price is up 12% to AU$2.92 over the past week. Reported Earnings • Feb 19
First half 2021 earnings released: EPS AU$0.064 (vs AU$0.027 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: AU$78.4m (up 16% from 1H 2020). Net income: AU$9.79m (up 141% from 1H 2020). Profit margin: 13% (up from 6.0% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Feb 19
Revenue behind estimates Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 19%, compared to a 15% growth forecast for the Healthcare industry in Australia. Is New 90 Day High Low • Feb 11
New 90-day high: AU$2.72 The company is up 36% from its price of AU$2.00 on 13 November 2020. The Australian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Healthcare industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.98 per share. Is New 90 Day High Low • Jan 25
New 90-day high: AU$2.69 The company is up 46% from its price of AU$1.84 on 27 October 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Healthcare industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.99 per share. Announcement • Jan 21
Pacific Smiles Group Limited Appoints Scott Kalniz as Non-Executive Director, Effective 28 January 2021 Pacific Smiles Group Limited announced the appointment of Dr. Scott Kalniz as a Non-Executive Director of the Company. Dr. Kalniz has over 20 years of dental industry experience in the United States. Dr. Kalniz currently serves as a Non-Executive Director of Signature Dental Partners, a DSO based in Phoenix, Arizona. Dr. Kalniz also previously served on the Board of Heartland Veterinary Partners. The appointment of Dr. Kalniz to the Board will be effective 28 January 2021. Announcement • Jan 13
Pacific Smiles Group Limited to Report First Half, 2021 Results on Feb 17, 2021 Pacific Smiles Group Limited announced that they will report first half, 2021 results on Feb 17, 2021 