Woodbois Share Discussion Threads

[blue59] 12/3/2020 12:35

Common sense prevailing here even if the rest of the world has gone insane!

[maccamcd] 07/2/2020 10:04

Financial Forecasts
Year To: December 2018A 2019E 2020E 2021E
Sales (US$m) 13.4 19.5 33.2 52.6
Adj. EBITDA (4.8) (2.6) 3.0 9.1
Adjusted PBT (US$m) (5.6) (4.8) (1.0) 4.6
Adjusted EPS (¢) (1.1) (0.8) (0.2) 0.8
DPS (¢) 0.0 0.0 0.0 0.0
Valuation 2018A 2019E 2020E 2021E
P/E (x) Na Na Na 9.9
EV/EBITDA (x) Na Na 22.7 7.0
Dividend Yield (%) 0.0 0.0 0.0 0.0
FCF Yield (%) 976.3 (27.7) (4.0) (0.2)
Net Cash/(Debt) (US$m) (4.4) (31.2) (31.7) (28.0)

[maccamcd] 07/2/2020 09:50

Broker called Arden just release research
Initial target price 12p

Initiating with a Buy rating - We initiate on Woodbois with a buy rating
and initial 12p target price but with further long-term upside. The Group
has made a number of structural changes and investments in the past
three years which are accelerating revenue and profit growth,
positioning the Group strongly in a fragmented, multi-billion dollar
global forestry and trading industry with a key focus on sustainability.
Executing on new strategy – Woodbois owns 20-50yr leases on ~1m
acres of attractive forestry concessions in Gabon and Mozambique with
accompanying processing facilities. Recently upgraded equipment can
drive growth and margin improvements, while 25 years’ experience in
timber trading and access to working capital underpin the expansion.
Multi-billion dollar global markets – African hardwood export
markets are driven by strong demand from China and wealthy
developing and developed nations, underpinning at least a $350m
revenue opportunity for Woodbois. Demand is economically sensitive,
but African hardwoods are used for construction and furniture making
providing growth much stronger than global GDP over time.
Supportive L-T themes – Population growth, urbanisation and middle
class expansion all represent themes which Woodbois is aligned to,
while commitment to sustainability and ethical practices positions the
Group well in its industry - which should attract investors going forward.
Attractive growth profile – Our forecasts call for 45% revenue 5yr
CAGR, 55% gross profit 5yr CAGR to 2023 with strong double digit
growth in both Forestry and Trading divisions, and margin expansion
driving positive EBITDA and EPS in 2020E and strong growth in 2021E.
EBITDA reaches ~$16m in 2023 on our forecasts.
Valuation – The stock trades on 2.0x 2020E EV/Sales and 22.6x 2020E
EV/EBITDA falling in 2021E on our forecasts to 1.2x EV/Sales, 7x
EV/EBITDA and 9.9x P/E and with 100% upside to our target price, and
significant longer term value. Recent investments in the Group’s
operations should increasingly unlock value, in our view.

[mattab] 16/1/2020 12:21

Profited many years ago in this - not held too long in all honesty.

Totally agree JakNife - it is uninvestable

[blue59] 07/1/2020 12:41

Tanzania situation is a %^$ing disgrace!!

[jack jebb] 14/10/2019 09:36

Looking good.
*U.K., SOUTHERN AFRICA CUSTOMS UNION, MOZAMBIQUE SIGN TRADE PACT

[multibagger] 15/8/2019 07:18

RNS out...the wood may be sustainable, the question remains whether the remnants/stump of the company left is.


15 August 2019

Woodbois Limited

SPOTT Transparency Assessment

In its inaugural year of assessment, Woodbois has been placed 7(th) out of 97 companies on the SPOTT timber producers table, as one of only 9 other companies which were ranked in the 'higher' segment of the transparency score range this year.

SPOTT, Sustainability Policy Transparency Toolkit, is an online platform created by the Zoological Society of London to assess commodity producers and traders on the public disclosure of each company's policies and operations, as well as their commitments to environmental, social and governance (ESG) best practice.

As sustainable forestry management becomes an ever-increasing focal point in the discussion to mitigate climate change and deforestation, Woodbois is dedicated to working alongside organisations such as the ZSL to help assess companies that are at the forefront of managing tropical forests.

That our ESG practices and the transparency of our operational conduct should be of the highest standards, remains central to management's medium-term goals on behalf of all our stakeholders.

We look forward to working with the SPOTT team for the 2019 iteration of Woodbois' assessment.

To see the SPOTT assessment for all 97 companies, please click here.

To see Woodbois' 2018 Sustainability Report, please click here.

[jack jebb] 01/8/2019 06:39

Those with a full brain are hoovering them up.

[mattab] 31/7/2019 20:51

Couple of large trades - is MP selling down / out?