Announcement • Sep 23
Clover Corporation Limited, Annual General Meeting, Nov 18, 2025 Clover Corporation Limited, Annual General Meeting, Nov 18, 2025. Board Change • Aug 18
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Non-Executive Director Fiona Pearse was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 04
Insufficient new directors 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. 4 highly experienced directors. Independent Non-Executive Director Toni Brendish was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Sep 26
Dividend of AU$0.0075 announced Shareholders will receive a dividend of AU$0.0075. Ex-date: 21st October 2024 Payment date: 18th November 2024 Dividend yield will be 1.5%, which is lower than the industry average of 3.5%. Reported Earnings • Sep 25
Full year 2024 earnings released: EPS: AU$0.009 (vs AU$0.037 in FY 2023) Full year 2024 results: EPS: AU$0.009 (down from AU$0.037 in FY 2023). Revenue: AU$62.2m (down 22% from FY 2023). Net income: AU$1.52m (down 76% from FY 2023). Profit margin: 2.4% (down from 7.8% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Chemicals industry in Australia. Over the last 3 years on average, earnings per share has fallen by 29% per year whereas the company’s share price has fallen by 33% per year. New Risk • Jul 22
New major risk - Revenue and earnings growth Earnings have declined by 16% 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 16% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (3.1% net profit margin). Market cap is less than US$100m (AU$81.0m market cap, or US$54.0m). Buy Or Sell Opportunity • May 29
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 40% to AU$0.50. The fair value is estimated to be AU$0.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years. Earnings per share has declined by 19%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 118% in the next 2 years. Buy Or Sell Opportunity • May 02
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 36% to AU$0.51. The fair value is estimated to be AU$0.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years. Earnings per share has declined by 19%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 118% in the next 2 years. Buy Or Sell Opportunity • Apr 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 39% to AU$0.51. The fair value is estimated to be AU$0.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years. Earnings per share has declined by 19%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 118% in the next 2 years. Recent Insider Transactions • Apr 05
Independent Non-Executive Chairman recently bought AU$100k worth of stock On the 3rd of April, Rupert Harrington bought around 200k shares on-market at roughly AU$0.50 per share. This transaction amounted to 38% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Rupert's only on-market trade for the last 12 months. Buy Or Sell Opportunity • Mar 25
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 36% to AU$0.51. The fair value is estimated to be AU$0.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.3% over the last 3 years. Earnings per share has declined by 19%. Revenue is forecast to grow by 27% in 2 years. Earnings are forecast to grow by 118% in the next 2 years. Reported Earnings • Mar 22
First half 2024 earnings released: AU$0.004 loss per share (vs AU$0.022 profit in 1H 2023) First half 2024 results: AU$0.004 loss per share (down from AU$0.022 profit in 1H 2023). Revenue: AU$27.3m (down 39% from 1H 2023). Net loss: AU$643.0k (down 118% from profit in 1H 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Chemicals industry in Australia. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Announcement • Nov 20
Clover Corporation Limited Declares Payment of Final Dividend for the Financial Year 2023 Clover Corporation Limited announced that the payment of its financial year 2023 final dividend, being 0.75 cent per share fully franked, has now been made. Board Change • Nov 01
Insufficient new 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. 3 highly experienced directors. Independent Non-Executive Director Toni Brendish was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 18
Clover Corporation Limited, Annual General Meeting, Nov 23, 2023 Clover Corporation Limited, Annual General Meeting, Nov 23, 2023. New Risk • Oct 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$157.0m (US$99.1m) 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 • Sep 26
Full year 2023 earnings released: EPS: AU$0.037 (vs AU$0.043 in FY 2022) Full year 2023 results: EPS: AU$0.037 (down from AU$0.043 in FY 2022). Revenue: AU$79.9m (up 13% from FY 2022). Net income: AU$6.21m (down 13% from FY 2022). Profit margin: 7.8% (down from 10% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 20% per year. Announcement • Sep 26
Clover Corporation Limited Declares Fully Franked Final Dividend for the Financial Year Ended 31 July 2023, Payable on 20 November 2023 The Directors of Clover Corporation Limited declared a final dividend for the financial year ended 31 July 2023 of 0.75 cent per share (2022: final 1.0 cent per share) fully franked at 30%, payable on 20 November 2023, but not recognised as a liability at the end of the financial period. The record date for this dividend will be 31 October 2023. Ex-dividend date is 30 October 2023. Reported Earnings • Mar 15
First half 2023 earnings released: EPS: AU$0.022 (vs AU$0.012 in 1H 2022) First half 2023 results: EPS: AU$0.022 (up from AU$0.012 in 1H 2022). Revenue: AU$44.4m (up 49% from 1H 2022). Net income: AU$3.64m (up 81% from 1H 2022). Profit margin: 8.2% (up from 6.8% in 1H 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Chemicals industry in Australia. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Oct 18
Upcoming dividend of AU$0.01 per share Eligible shareholders must have bought the stock before 25 October 2022. Payment date: 22 November 2022. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Australian dividend payers (7.1%). Lower than average of industry peers (2.9%). Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improved over the past week After last week's 25% share price gain to AU$1.28, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 12x in the Chemicals industry globally. Total loss to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment deteriorated over the past week After last week's 19% share price decline to AU$1.03, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 20x in the Chemicals industry in Australia. Total loss to shareholders of 48% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at AU$0.54 per share. Reported Earnings • Mar 19
First half 2022 earnings: EPS in line with expectations, revenues disappoint First half 2022 results: EPS: AU$0.012 (down from AU$0.015 in 1H 2021). Revenue: AU$29.7m (up 1.0% from 1H 2021). Net income: AU$2.01m (down 20% from 1H 2021). Profit margin: 6.8% (down from 8.5% in 1H 2021). Revenue missed analyst estimates by 6.2%. Over the next year, revenue is forecast to grow 19%, compared to a 16% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 11% per year. Buying Opportunity • Mar 10
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be AU$1.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.0% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Reported Earnings • Sep 21
Full year 2021 earnings released: EPS AU$0.036 (vs AU$0.075 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$60.5m (down 32% from FY 2020). Net income: AU$6.00m (down 52% from FY 2020). Profit margin: 9.9% (down from 14% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improved over the past week After last week's 19% share price gain to AU$1.77, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 16x in the Chemicals industry globally. Total returns to shareholders of 16% over the past three years. Executive Departure • May 14
CFO & Company Secretary has left the company On the 6th of May, Paul Sherman's tenure as CFO & Company Secretary ended after 4.4 years in the role. We don't have any record of a personal shareholding under Paul's name. A total of 3 executives have left over the last 12 months. Valuation Update With 7 Day Price Move • May 13
Investor sentiment deteriorated over the past week After last week's 18% share price decline to AU$1.53, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 16x in the Chemicals industry globally. Total returns to shareholders of 27% over the past three years. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 36% share price gain to AU$1.82, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 18x in the Chemicals industry globally. Total returns to shareholders of 112% over the past three years. Reported Earnings • Mar 18
First half 2021 earnings released: EPS AU$0.015 (vs AU$0.028 in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: AU$29.4m (down 22% from 1H 2020). Net income: AU$2.51m (down 46% from 1H 2020). Profit margin: 8.5% (down from 12% in 1H 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 23% per year. Is New 90 Day High Low • Feb 11
New 90-day low: AU$1.45 The company is down 19% from its price of AU$1.78 on 13 November 2020. The Australian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$0.97 per share. Is New 90 Day High Low • Jan 12
New 90-day low: AU$1.47 The company is down 27% from its price of AU$2.02 on 15 October 2020. The Australian market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals 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$0.96 per share. Is New 90 Day High Low • Dec 15
New 90-day low: AU$1.62 The company is down 32% from its price of AU$2.40 on 16 September 2020. The Australian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$0.98 per share. Recent Insider Transactions • Dec 11
CEO, MD & Director recently sold AU$404k worth of stock On the 9th of December, Peter Davey sold around 227k shares on-market at roughly AU$1.78 per share. This was the largest sale by an insider in the last 3 months. Peter has been a seller over the last 12 months, reducing personal holdings by AU$796k. Recent Insider Transactions • Oct 24
Independent Chairman recently bought AU$99k worth of stock On the 22nd of October, Rupert Harrington bought around 57k shares on-market at roughly AU$1.74 per share. This was the largest purchase by an insider in the last 3 months. This was Rupert's only on-market trade for the last 12 months. Is New 90 Day High Low • Oct 15
New 90-day low: AU$2.00 The company is down 11% from its price of AU$2.26 on 17 July 2020. The Australian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals 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$0.86 per share. Is New 90 Day High Low • Sep 21
New 90-day low: AU$2.10 The company is down 7.0% from its price of AU$2.27 on 23 June 2020. The Australian market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$0.86 per share. Reported Earnings • Sep 19
Full year earnings released Over the last 12 months the company has reported total profits of AU$12.5m, up 24% from the prior year. Total revenue was AU$88.3m over the last 12 months, up 15% from the prior year. Profit margins were 14%, which is higher than the 13% margin from last year. The increase in margin was driven by higher revenue.