SXE’s FY20 EBIT of $16.4m was in line with our expectations. The Company ended the financial year with a healthy balance sheet (cash $55.3m and no debt) to address organic and inorganic growth options. The current order book of $440m and a tender pipeline of more than $900m supports the medium term, and we expect conversion of opportunities in the infrastructure and resources sectors in particular. Our BUY call is based on value grounds, SXE’s diversification, a lower risk contracting profile, a strong balance sheet, and likely re-emergence of M&A opportunity.
To access the full report please log in under the Client Area at the bottom of this page.
Argonaut’s Client Area allows you to view delayed share prices, access Argonaut’s wealth of Research as well as create custom portfolios and set up company watch lists.
If you would like to access our research please contact us to create an account.
