Quick review:
ASX:CBD - CBD Energy
Total Shares on Issue:
1,098,252,553 ( will
impact liquidity)
1) 19.2.04 - Contract win to reduce energy
consumption - strategic win in Aust target market - $200K+
2) Appt of new CFO and Company Secretary + change
of registered premises
3) 31 1.04 - Strategic contract win through Hong
Kong based wholly owned subsidiary Ventronics to Caylee Property Mng (part of
Hutchison Whampoa Property Group/Cheung Kong Group) to reduce energy
consumpton of sea water pump system within City Garden Hotel complex in Hong
Kong - value HK$520K payable over 12mths
4) 2nd Qtr Report - period ended 31 Dec 03 (Newly
acquired; Parmac; not included in these results)
. includes CapTech acquired 1 Oct 03 - CapTech
sales revenue running at approx $250K per mth and business is trading
profitably
. Cash at end of qtr $1,153,000
. Receipts 6mths - YTD $426K (NB***$396K of this
was received in the last qtr) Outgoing cash flows have been high but this
shows promise.
5) Parmac (heating, ventilation, airconditioning)
- was acquired for $1.25M (2.5times EBIT) on 15.1.04 (after quarter end).
$250K of this is in trust pending EBIT targets being achieved for the 2004
calendar year. Parmac is expected to be earnings positive for CBD from day
one
6) As at 16 Jan 04; annualized turnover for the
CBDE group was approaching $10M. It is expected that there will be significant
growth in CBDE's core energy management businesses, both in Hong Kong and
Australia in the coming months and the Parmac acquisition will further
strengthen this group by adding to CBDE's distribution network.
Lots of
potential.
See IRG research reports
