Escher Grp Share Discussion Threads

[the ghost who walks] 27/3/2018 20:44

Looks like this won't be delisting as only 50 something percent accepted

[edwardt] 13/2/2018 17:41

my guess is it will happen which is a bit of a shame. they have been opportunistic for sure.

[the ghost who walks] 08/2/2018 15:52

They need 75% to take it out so will depend on if some of the large institutions feel that this is too low.

[edwardt] 08/2/2018 08:23

agree but we will be taken out. it is the problem of small caps like this.

[the ghost who walks] 08/2/2018 08:21

Extremely opportunistic from Hannover. Very low price. Unattractive.

[the ghost who walks] 15/1/2018 20:29

Interesting with the bank move

[the ghost who walks] 04/1/2018 07:22

Interesting. Wonder what happens here now. Interesting to see who they hire

[the ghost who walks] 27/12/2017 09:21

Good sign on credit facility. Banks have insight to approve these things.

[the ghost who walks] 04/12/2017 20:16

Seems long lead time for sales, But doubt fundamentals have changed much. Massive share price move off virtually no volume.

[mccawber] 17/11/2017 09:49

very poor forecasts from Panmure this morning:

Estimates rebased: Our rebased forecasts assume the company can achieve one small, one - mid and no large deals. We believe this provides limited downside and is strongly underpinned by recurring revenue from Maintenance and S upport (52% in FY’16A, up from 32% in FY’13A), which grew at a three year CAGR of 13.4% to FY’16A.
Right - sizing the business: Given the announced restructuring actions, we expect adjusted operating costs to decline 10% in FY’18E following a 7% decline in FY’17E. In a stress test scenario, we think the company can produce $2.7m of EBITDA in FY’18E and beyond if no new licence sales are achieved. Going forward we believe the company can scale up external resources through outsourcing which we think will in creasingly move offshore.
Upside to estimates: Upside to our $3.5m FY’18 EBITDA estimate can be driven by large customers where license sales exceed our $1.6m estimate. Incremental software revenue immediately impacts profitability in the first year gi ven it is almost 100% gross margin. This is followed by associated services revenue following signing and ongoing Maintenance and Support revenue thereafter.
Upside to valuation: On a one year forward basis, Escher shares trade at 9.4x EV/EBITDA, based on our $3.5m estimate. Our EBITDA forecast is predicated on $1.6m of licence sales ($1.0m new, $0.6m recurring) in FY’18E versus $4.6m in FY’16A. $2.0m in licence sales beyond our FY’18E estimate would result in EV/EBITDA of 5.7x which we feel justifies a premium multiples based on existing forecasts. The company’s recurring revenue stream alone (ex - non - recurring licence, development and consulting revenue) trades at 2.8x revenue w hich we believe is good value
Sales:
'17e - $18.0m
'18e - $17.6m
'19e - $17.8m
PBTA
'17e - $0.0m
'18e - $1.0m
'19e - $1.2m

[deuchar] 14/11/2017 11:21

A disaster

[pugugly] 14/11/2017 09:49

Starting tp look like a serial failure -Also spread impossible - Nothing against the Irish but real traction needed and have doubts about sustaining revenue A limit (imo) to how many licences can be sold - Surely for every one sold you reduce the potential pipeline by ONE.
GWW: Do you know yho are the competitors and the relative strength of their offerings?

[the ghost who walks] 02/9/2017 19:18

Another update of total voting rights

[the ghost who walks] 16/8/2017 17:09

Why did Escher update share voting right numbers?

[the ghost who walks] 01/8/2017 07:07

Seems decent figures. Comment on adding second leg

[the ghost who walks] 13/7/2017 18:02

I wonder if Hannover buying more

[qs99] 13/7/2017 12:15

looking really strong again today

[the ghost who walks] 07/7/2017 18:29

Really moving now

[the ghost who walks] 06/7/2017 19:54

Starting to tick up again

[the ghost who walks] 05/7/2017 11:14

Holding steady

[the ghost who walks] 27/6/2017 12:46

What could Hannover see here?

[the ghost who walks] 26/6/2017 07:07

Hannover up to 25%

[the ghost who walks] 23/6/2017 10:46

Directors sold, wonder who bought

[the ghost who walks] 22/6/2017 20:11

Seems another 2.3mln shares traded in a block....