Recent Insider Transactions • Dec 11
Founder recently sold AU$9.4m worth of stock On the 9th of December, Stephen Smith sold around 6m shares on-market at roughly AU$1.59 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. This was Stephen's only on-market trade for the last 12 months. Announcement • Nov 24
PTB Group Limited Announces Ordinary Fully Paid Dividend for the Twelve Months Ended June 30, 2022, Payable on December 9, 2022 PTB Group Limited announced ordinary fully paid dividend of AUD 0.03000000 for the twelve months ended June 30, 2022. Ex-date is November 30, 2022. Record date is December 1, 2022. The dividend will be payable on December 9, 2022. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. 1 independent director (3 non-independent directors). Independent Non-Executive Director Andrew Peter Kemp was the last independent director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Oct 22
PTB Group Limited, Annual General Meeting, Nov 23, 2022 PTB Group Limited, Annual General Meeting, Nov 23, 2022, at 13:00 E. Australia Standard Time. Location: 22 Orient Ave Pinkenba Qld, Pinkenba Queensland Australia Agenda: To consider Adoption of remuneration report; to consider Financial statements and reports; to consider Re-election of Mr Craig Baker as Director; and to consider other matters. Recent Insider Transactions • Sep 02
Independent Non-Executive Director recently sold AU$198k worth of stock On the 30th of August, Andrew Peter Kemp sold around 127k shares on-market at roughly AU$1.56 per share. This transaction amounted to 8.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Aug 27
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: AU$0.11 (up from AU$0.10 in FY 2021). Revenue: AU$125.5m (up 47% from FY 2021). Net income: AU$13.7m (up 6.8% from FY 2021). Profit margin: 11% (down from 15% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.9%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Over the next year, revenue is forecast to grow 2.9%, compared to a 23% growth forecast for the Aerospace & Defense industry in Australia. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 30% per year. Announcement • Aug 20
Precision Aviation Group, Inc. entered into a Scheme Implementation Deed to acquire PTB Group Limited (ASX:PTB) for approximately AUD 200 million. Precision Aviation Group, Inc. entered into a Scheme Implementation Deed to acquire PTB Group Limited (ASX:PTB) for approximately AUD 200 million on August 18, 2022. PTB Shareholders will receive AUD 1.595 per PTB Share in cash under the Scheme. The transaction entails a break fee and reverse break fee of AUD 2 million, respectively. The Scheme is subject to conditions including Court approval, PTB Shareholder approval, FIRB approval, Net Cash of the PTB Group being not less than AUD 2.75 million as at the Second Court Date, the repayment of PTB Group’s debt facilities with Commonwealth Bank of Australia (other than in respect of particular assets) CT Aerospace and Asir & Nek, the release of certain escrowed shares, the discharge of certain security interests, no PTB Prescribed Occurrences, no PTB Material Adverse Change, no restraints and the Independent Expert concluding (and continuing to conclude) that the Scheme is in the best interests of PTB Shareholders. The PTB Board unanimously recommends that PTB Shareholders vote in favour of the Scheme. Scheme Implementation Date shall be December 2, 2022. PTB is being advised by MA Moelis Australia and Moelis & Company as financial advisers and Talbot Sayer as legal adviser. PTB has appointed BDO Australia Limited as the Independent Expert. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 37% share price gain to AU$1.57, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 23x in the Aerospace & Defense industry globally. Total returns to shareholders of 161% over the past three years. Announcement • Aug 17
PTB Group Limited Announces Executive Changes PTB Group Limited announced that Mr. Russell Quentin Cole has resigned as a non-executive director of PTB Group Limited. The Board has accepted his resignation. The Board thanks Russell for his service on the Board and wishes him the best for his future endeavours. Mr. Cole steps down from the Board, his role as the Chair of the Audit and Risk Management Committee, and his role as a member of the Remuneration Committee immediately. Mr. Andrew Peter Somerville Kemp has been appointed as the Chair of the Audit and Risk Management Committee to replace Mr. Cole. Mr. Prince Priyantha Gunasekara has also been appointed as a member of the Remuneration Committee. Price Target Changed • May 05
Price target increased to AU$1.51 Up from AU$1.23, the current price target is provided by 1 analyst. New target price is 24% above last closing price of AU$1.22. Stock is up 76% over the past year. The company posted earnings per share of AU$0.10 last year. Board Change • Apr 27
Less than half of directors are independent 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. 2 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Russell Cole was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 25
First half 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First half 2022 results: EPS: AU$0.048 (down from AU$0.057 in 1H 2021). Revenue: AU$55.6m (up 44% from 1H 2021). Net income: AU$6.07m (down 16% from 1H 2021). Profit margin: 11% (down from 19% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) exceeded analyst estimates by 3.9%. Over the next year, revenue is forecast to grow 14%, compared to a 4.4% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 22% per year. Price Target Changed • Jan 24
Price target increased to AU$1.27 Up from AU$1.18, the current price target is provided by 1 analyst. New target price is 6.3% above last closing price of AU$1.20. Stock is up 71% over the past year. The company is forecast to post earnings per share of AU$0.079 for next year compared to AU$0.10 last year. Announcement • Jan 22
PTB Group Limited Provides Earnings Guidance for the First Half Year of 2022 PTB Group Limited provided earnings guidance for the first half year of 2022. The company expects revenue of AUD 55,603,000, profit before tax was AUD 7,549,000. Announcement • Nov 22
PTB Group Limited Provides Earnings Guidance for the First Half and Full Fiscal Year 2022 PTB Group Limited provided earnings guidance for the first half and full fiscal year 2022. For the first half, the company expects net profit before tax, excluding foreign exchange gains/losses of $5.9 million to $6.2 million.For the full fiscal year, the company expects net profit before tax, excluding foreign exchange gains/losses of $12.4 million to $13.4 million. Upcoming Dividend • Sep 23
Upcoming dividend of AU$0.05 per share Eligible shareholders must have bought the stock before 30 September 2021. Payment date: 29 October 2021. Trailing yield: 5.0%. Lower than top quartile of Australian dividend payers (5.4%). Higher than average of industry peers (1.7%). Recent Insider Transactions • Sep 02
Non-Executive Chairman recently sold AU$127k worth of stock On the 1st of September, Craig Baker sold around 150k shares on-market at roughly AU$0.84 per share. This was the largest sale by an insider in the last 3 months. Craig has been a seller over the last 12 months, reducing personal holdings by AU$93k. Price Target Changed • Aug 30
Price target increased to AU$1.18 Up from AU$0.89, the current price target is provided by 1 analyst. New target price is 43% above last closing price of AU$0.82. Stock is up 8.6% over the past year. Reported Earnings • Aug 29
Full year 2021 earnings released: EPS AU$0.10 (vs AU$0.043 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$85.2m (up 9.1% from FY 2020). Net income: AU$12.8m (up 219% from FY 2020). Profit margin: 15% (up from 5.1% 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. Major Estimate Revision • Jun 27
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from AU$0.085 to AU$0.095. Revenue forecast steady at AU$87.2m. Net income forecast to grow 0.4% next year vs 28% growth forecast for Aerospace & Defense industry in Australia. Consensus price target up from AU$0.89 to AU$0.93. Share price rose 2.2% to AU$0.70 over the past week. Announcement • Jun 25
PTB Group Limited (ASX:PTB) agreed to acquire Assets of United Turbine Corp from Continental Aerospace Technologies for AUD 4.3 million. PTB Group Limited (ASX:PTB) agreed to acquire Assets of United Turbine Corp from Continental Aerospace Technologies for AUD 4.3 million on June 25, 2021. The transaction includes United Turbine Corp’s inventory, work in progress, tooling and equipment and also sees PTB Group Limited gain access to United Turbine’s customers and provide warranty support for Continental Aerospace Technologies into the future. The transaction will be funded through PTB Group Limited's own cash. The transaction is subject to customary closing conditions and is expected to close on July 15, 2021. Major Estimate Revision • Mar 01
Analysts update estimates The 2021 consensus revenue estimate was lowered from AU$105.6m to AU$87.2m. Earning per share (EPS) estimate received an upgrade, with analysts raising their estimates from AU$0.083 to AU$0.085 for the same period. Net income is expected to shrink by 9.8% next year compared to 23% growth forecast for the Aerospace & Defense industry in Australia . The consensus price target was reaffirmed at AU$0.89. Share price is up 2.8% to AU$0.73 over the past week. Reported Earnings • Feb 23
First half 2021 earnings released: EPS AU$0.057 (vs AU$0.02 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: AU$38.6m (up 48% from 1H 2020). Net income: AU$7.26m (up 390% from 1H 2020). Profit margin: 19% (up from 5.7% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 3% per year. Is New 90 Day High Low • Feb 10
New 90-day low: AU$0.66 The company is down 10.0% from its price of AU$0.73 on 12 November 2020. The Australian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Aerospace & Defense industry, which is down 13% over the same period. Major Estimate Revision • Dec 16
Analysts update estimates The 2021 consensus earning per share (EPS) estimate increased from AU$0.063 to AU$0.083. No change was made to the revenue estimate which at the last update was AU$105.6m. Net income is expected to grow by 161% next year compared to 22% growth forecast for the Aerospace & Defense industry in Australia. The consensus price target increased from AU$0.86 to AU$0.89. Share price is up 1.4% to AU$0.74 over the past week. Announcement • Dec 15
PTB Group Limited Revises Earnings Guidance for the Fiscal Year 2021 PTB Group Limited revised earnings guidance for the fiscal year 2021. The company announced the sale of its Warriewood properties to a private commercial property trust for $9.5 million in cash. As a result of the sale, PTB is increasing its full year NPBT (excluding FX) guidance for fiscal year 2021 from $11 million - $13 million to $15 million - $17 million. EBITDA (excluding FX) is expected to be $21 million - $23 million. This revised forecast allows for moving costs, inventory rationalisation costs and an allowance for potential disruptions to IAP operating results during the transition to the new facility. Is New 90 Day High Low • Nov 27
New 90-day low: AU$0.67 The company is down 11% from its price of AU$0.75 on 28 August 2020. The Australian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Aerospace & Defense industry, which is down 7.0% over the same period. Upcoming Dividend • Sep 25
Upcoming Dividend of AU$0.025 Per Share Will be paid on the 30th of October to those who are registered shareholders by the 2nd of October. The trailing yield of 6.7% is in the top quartile of Australian dividend payers (5.7%), and it is higher than industry peers (2.1%). Is New 90 Day High Low • Sep 21
New 90-day high: AU$0.79 The company is up 31% from its price of AU$0.60 on 23 June 2020. The Australian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Aerospace & Defense industry, which is down 2.0% over the same period.