공고 • Sep 30
Cardno Limited, Annual General Meeting, Nov 27, 2024 Cardno Limited, Annual General Meeting, Nov 27, 2024. New Risk • Aug 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.87m (US$9.83m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (87% accrual ratio). Market cap is less than US$10m (€8.87m market cap, or US$9.83m). Minor Risk Share price has been volatile over the past 3 months (8.2% average weekly change). Reported Earnings • Aug 28
Full year 2024 earnings released: EPS: AU$0.19 (vs AU$0.016 loss in FY 2023) Full year 2024 results: EPS: AU$0.19 (up from AU$0.016 loss in FY 2023). Revenue: AU$15.9m (up 43% from FY 2023). Net income: AU$7.54m (up AU$8.16m from FY 2023). Profit margin: 47% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue. 공고 • Apr 05
Cardno Limited to Distribute an Unfranked Special Dividend, Payable on 29 April 2024 The Board of Cardno Limited announced that it has determined to distribute an unfranked dividend of AUD 10.8 million (27.6 cents per share) to Cardno shareholders on the register of Cardno as at the record date on 11 April 2024. The Special Dividend will be paid on 29 April 2024. This distribution reflects the repatriation of USD 5.9 million of collections from Insus related to three positive legal claims in first half 2024 and the collection of $1.5 million related to the sale of Cardno International Development to DT Global Australia Pty Ltd. Prior to this distribution, the Head Office cash balance on 2 April 2024 was $12.71 million. Shares commence trading on an “ex Special Dividend” of 10 April 2024. New Risk • Oct 19
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 8.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.3m free cash flow). Share price has been highly volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$10m (€7.01m market cap, or US$7.41m). 공고 • Jul 12
Cardno Limited Announces Board Changes Cardno Limited announced that its Chair, Mr. Michael Alscher, is taking temporary leave to recover from a surgical procedure. Mr. Neville Buch will act as Michael's alternate director during this time. Neville is a partner at Crescent Capital Partners and has held Chair, CEO and director roles in both public and private companies for over 18 years. Neville was a Non-Executive Director of Cardno between November 2015 and October 2019. Neville alsoacted as Interim CEO from November 2016 to March 2018 and Deputy Chair from May 2018 to October 2019. The Board has determined that Nathanial Thomson will be Acting Chair during Michael's absence. New Risk • Jul 12
New major risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €9.53m (US$10.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 23
First half 2023 earnings released: AU$0.098 loss per share (vs AU$0.91 loss in 1H 2022) First half 2023 results: AU$0.098 loss per share (improved from AU$0.91 loss in 1H 2022). Revenue: AU$6.49m (down 95% from 1H 2022). Net loss: AU$3.82m (loss narrowed 89% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 51% per year, which means it is significantly lagging earnings. 공고 • Jan 14
Cardno Limited Announces Special Dividend, Payable on December 31, 2023 Cardno Limited announced special dividend of AUD 1.70000000 payable on December 31, 2023. Record Date is July 7, 2022. Ex Date is July 6, 2022. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Executive Director Nathanial Thomson was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Aug 26
Full year 2022 earnings released: AU$0.94 loss per share (vs AU$0.79 profit in FY 2021) Full year 2022 results: AU$0.94 loss per share (down from AU$0.79 profit in FY 2021). Revenue: AU$23.4m (down 97% from FY 2021). Net loss: AU$36.6m (down 212% from profit in FY 2021). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 60% per year, which means it is significantly lagging earnings. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Nathanial Thomson was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Feb 27
First half 2022 earnings: EPS in line with expectations, revenues disappoint First half 2022 results: AU$0.91 loss per share (down from AU$0.19 profit in 1H 2021). Revenue: AU$138.7m (down 5.3% from 1H 2021). Net loss: AU$35.6m (down AU$43.8m from profit in 1H 2021). Revenue missed analyst estimates by 1.2%. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment deteriorated over the past week After last week's 41% share price decline to €1.18, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 18x in the Commercial Services industry in Germany. Total returns to shareholders of 398% over the past three years. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 83% share price gain to €2.00, the stock trades at a trailing P/E ratio of 2.4x. Average trailing P/E is 20x in the Commercial Services industry in Germany. Total returns to shareholders of 718% over the past three years. Upcoming Dividend • Dec 03
Upcoming dividend of AU$0.92 per share Eligible shareholders must have bought the stock before 10 December 2021. Payment date: 20 December 2021. Trailing yield: 3.4%. Within top quartile of German dividend payers (3.4%). In line with average of industry peers (3.5%). Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment improved over the past week After last week's 27% share price gain to €1.01, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 21x in the Commercial Services industry in Germany. Total returns to shareholders of 310% over the past three years. Reported Earnings • Aug 27
Full year 2021 earnings released: EPS AU$0.079 (vs AU$0.15 loss in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: AU$909.5m (down 8.0% from FY 2020). Net income: AU$32.7m (up AU$99.7m from FY 2020). Profit margin: 3.6% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 05
Upcoming Dividend of AU$0.015 Per Share Will be paid on the 6th of April to those who are registered shareholders by the 12th of March. The trailing yield of 6.3% is in the top quartile of German dividend payers (3.4%), and it is higher than industry peers (3.2%). Is New 90 Day High Low • Feb 16
New 90-day high: €0.23 The company is up 19% from its price of €0.19 on 18 November 2020. The German market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Commercial Services industry, which is up 32% over the same period. Is New 90 Day High Low • Jan 06
New 90-day high: €0.23 The company is up 31% from its price of €0.17 on 08 October 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 28% over the same period. Is New 90 Day High Low • Nov 20
New 90-day high: €0.21 The company is up 15% from its price of €0.18 on 21 August 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 12% over the same period.