Envestra Limited (ENV)
Views and News
Essentials
Half-yearly Performance & Estimates - ENV
| Year-end June | FY12A | 1H13A | FY13A | 1H14A | FY14A | FY15E | FY16E |
|---|---|---|---|---|---|---|---|
| Sales, $m | 468.7 | 273.6 | 507.1 | 293.1 | 554.4 | 568.0 | 588.0 |
| EBITDA, $m | 336.8 | 197.8 | 360.5 | 217.7 | 403.5 | 410.9 | 426.9 |
| EBIT, $m | 280.2 | 168.9 | 301.8 | 186.7 | 339.8 | 346.8 | 360.3 |
| Report NPAT, $m | 74.0 | 59.0 | 107.9 | 87.1 | 153.0 | ||
| Adj. NPAT, $m | 153.0 | 149.1 | 150.4 | ||||
| Reported EPS, ¢ | 5.00 | 4.00 | 7.00 | 5.00 | 9.00 | ||
| Adjusted EPS, ¢ | 9.00 | 8.05 | 8.40 | ||||
| EPS %FY/Growth | 57% | 40% | 56% | 29% | -11% | 4% | |
| Dividend, ¢ | 5.8 | 3.0 | 6.2 | 3.2 | 6.7 | 7.00 | 7.00 |
| Franking, % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| EBITDA Margin | 72% | 72% | 71% | 74% | 73% | 72.3% | 72.6% |
| NPAT Margin | 16% | 22% | 21% | 30% | 28% | 26.3% | 25.6% |
| ROE, % | 13% | 9% | 13% | 10 | 18% | ||
| EBIT/Interest | 1.6 | 2.0 | 2.0 | 3.0 | 2.81 | ||
| Net Debt / Equity | 3.62 | 3.28 | 2.4 | 2.42 | 2.49 | ||
| CashFlow/Sh, ¢ | 17190 | 13570 | 23390 | 13510 | 24560 | 15.8 | 16.0 |
| Y/E Shares, m | 1,572 | 1,604 | 1,797 | 1,797 | 1,797 |
| Notes |
| Data sourced from IRESS Market Technology Limited. EPS Growth compared with the pcp is shown in most columns except the first half years which show their percentage of full year EPS. In a handful of cases, unadjusted share splits, or changes between positive and negative values may give strange changes in ratios. |
Recent News Highlights
As at 17/09/2014 : see details at www.envestra.com.au (new window? Shift+Click)
| 12/09/2014 Suspension from Official Quotation (cob 12/09/2014) |
| 05/09/2014 CK ENV Investments - Compulsory Acquisition Notice (PDF) |
| 04/09/2014 Envestra's Credit Rating Upgraded to 'Baa1' (PDF) |
| 14/08/2014 Appendix 4E and 2013-14 Financial Statements (PDF) |
| 14/08/2014 Market Presentation - 2013-14 Financial Results (PDF) |
| 14/08/2014 Media Release - 2013-14 Full-Year Results (PDF) |
| 13/08/2014 CK ENV Investments - Announcement (PDF) |
| 11/08/2014 Supplementary Bidder's Statement (PDF) |
| 11/08/2014 Envestra's Credit Rating Upgraded BBB Plus (PDF) |
| 07/08/2014 CK ENV Investments - Offer Unconditional (PDF) |
| 07/08/2014 ENV: CK ENV Investments - Offer Unconditional (PDF) |
| 06/08/2014 CK ENV Investments - Announcement (PDF) |
| 06/08/2014 CK ENV Investments - Broker commissions (PDF) |
| 06/08/2014 CK ENV Investments - Update on Acceptances (PDF) |
| 04/08/2014 CK ENV Investments' Offer - Process for Acceptances (PDF) |
| 01/08/2014 CK ENV Investments - Institutional Acceptance Facility (PDF) |
| 31/07/2014 CK ENV Investments announcement (PDF) |
| 31/07/2014 Notice of Status of Defeating Conditions (PDF) |
| 28/07/2014 CK ENV mailout to shareholders (PDF) |
| 18/07/2014 Envestra releases Target's Statement (PDF) |
| 18/07/2014 Envestra's Target's Statement Approved for Dispatch (PDF) |
| 11/07/2014 Envestra final dividend for 2013-14 (PDF) |
| 09/07/2014 ENV Envestra Limited Panel Declines to Conduct Proceedings (PDF) |
| 09/07/2014 Envestra notes Takeovers Panel decision (PDF) |
| 09/07/2014 TOV: Envestra Limited Panel Declines to Conduct Proceedings (PDF) |
| 07/07/2014 Letter to Shareholders - CK Consortium's Takeover Offer (PDF) |
| 04/07/2014 CK ENV Investments Offer open (PDF) |
| 04/07/2014 Dispatch of CK ENV Investments Bidder's Statement & Offers (PDF) |
| 01/07/2014 Envestra announces Takeovers Panel application (PDF) |
| 23/06/2014 Profit Guidance Update and Receipt of Bidder's Statement (PDF) |
| 23/06/2014 Profit Guidance Update and Receipt of Bidder's Statement (PDF) |
| 20/06/2014 CK ENV Investments launches all cash offer for Envestra (PDF) |
| 20/06/2014 CK ENV Investments' Bidder's Statement (PDF) |
| 20/06/2014 Development concerning CK Consortium takeover proposal (PDF) |
| 30/05/2014 Cancellation of Scheme Meeting (PDF) |
| 30/05/2014 Envestra Recommends Takeover Offer (PDF) |
| 30/05/2014 Notification of Takeover from CKI ENV Investments Pty Ltd (PDF) |
| 30/05/2014 Cancellation of Scheme Meeting |
| 30/05/2014 Envestra Recommends Takeover Offer |
| 30/05/2014 Notification of Takeover from CKI ENV Investments Pty Ltd |
| 13/05/2014 ENV: Letter to Shareholders (PDF) |
| 13/05/2014 Letter to Shareholders (PDF) |
| 09/05/2014 Adjournment of Scheme Meeting (PDF) |
| 09/05/2014 ENV: Adjournment of Scheme Meeting (PDF) |
| 08/05/2014 CKI proposal to acquire Envestra (PDF) |
| 08/05/2014 CKI proposal to acquire Envestra |
| 08/05/2014 Trading Halt |
| 30/04/2014 APA: Final offer terms of Envestra Scheme of Arrangement (PDF) |
| 30/04/2014 Final offer terms of Envestra Scheme of Arrangement (PDF) |
| 07/04/2014 ENV:Scheme Booklet approved for despatch to Shareholders (PDF) |
| 07/04/2014 Scheme Booklet approved for despatch to Shareholders (PDF) |
| 07/04/2014 Scheme Booklet approved for despatch to Shareholders |
| 04/03/2014 ENV: Envestra recommends Scheme of Arrangement by APA Group (PDF) |
| 04/03/2014 ENV: Independent Expert's Report (PDF) |
| 04/03/2014 ENV: Scheme Implementation Agreement (PDF) |
| 04/03/2014 Envestra recommends Scheme of Arrangement by APA Group (PDF) |
| 04/03/2014 Independent Expert's Report (PDF) |
| 04/03/2014 Scheme Implementation Agreement (PDF) |
| 04/03/2014 Envestra recommends Scheme of Arrangement by APA Group |
| 20/02/2014 Appendix 4D - Interim Financial Report 2013-14 |
| 17/12/2013 Envestra to proceed with APA Scheme of Arrangement proposal (PDF) |
| 28/08/2013 APA: Update on Envestra merger proposal (PDF) |
| 28/08/2013 Update on Envestra merger proposal (PDF) |
| 05/08/2013 ENV: Envestra not to proceed with APA proposal (PDF) |
| 05/08/2013 Envestra not to proceed with APA proposal (PDF) |
| 16/07/2013 APA: Approach to Envestra regarding merger proposal (PDF) |
| 16/07/2013 Approach to Envestra regarding merger proposal (PDF) |
| 16/07/2013 ENV: Non-binding Merger Proposal from APA Group (PDF) |
| 16/07/2013 Non-binding Merger Proposal from APA Group (PDF) |
Company Overview
Profile
Envestra
Rating: ♣
Category: Best Stock ; Large
Action:
Website: www.envestra.com.au
| ASX code: | ENV |
| Closing Price, 12/09/14: | $ 1.315 |
| Market Capitalisation: | $ 2,363 million |
| 52 Week High: | $ 1.38 |
| 52 Week Low: | $ 1.01 |
| Sector: | Utilities |
| Index: | S&P/ASX 200 Index |
Summary of Fundamentals
| Year-end June | FY13A | FY14A | FY15E | FY16E |
|---|---|---|---|---|
| NPAT, $m | 107.8 | 153.0 | 149.1 | 150.4 |
| Reported EPS, ¢ | 7.00 | 9.00 | ||
| Adjusted EPS, ¢ | 8.50 | 8.05 | 8.40 | |
| EPS Growth, % | 40% | 21% | -5% | 4% |
| P/E Ratio, x | 18.79 | 15.47 | 16.34 | 15.65 |
| Dividend, ¢ | 6.2 | 6.7 | 7.00 | 7.00 |
| Franking, % | 0% | 0% | 0% | 0% |
| Div. Yield, % | 4.71 | 5.10 | 5.32 | 5.32 |
Notes
| Our Adjusted EPS is used for the last year and forward estimates and as basis for EPS Growth and P/E Ratio. We currently use Reported data for all historic NPAT, for the prior year EPS and as base for last year EPS growth. |
| Data & Chart sourced from IRESS Market Technology Ltd. |
Two Year Chart
As at 17 Sept 2014
Other Highlights
| Sector: | Utilities |
| Return on Equity, FY14 : | 18% |
| Net Debt to Equity, FY14 : | 249 % |
| EBIT / Interest Cover, FY14 : | 2.81 x |
| Gicscode: | 55102010 |
| First Listed: | 29-Aug-97 |
Business Activities
Envestra Limited (ENV) is one of Australia's largest distributors of natural gas. It has regulated gas distribution networks in Victoria, South Australia and Queensland, also small gas networks and pipelines in NSW.
Glossary:
| ♠ | "A Core Stock" - reliable long-term yield & growth |
| ♥ | "We like it" - a seasoned performer, growth & yield |
| ♦ | "A tough scout" - may create a potential breakthrough |
| ♣ | "A steady performer" - giving reliable yield or growth |
| Best Stocks | Portfolio of selected attractive investments |
| Potential | Stocks that may have good improvement prospects |
| Speculative | More risky usually smaller stocks with spec. upside |
| Midcaps | In RR Midcap Index, $ 70m to 1,500m market cap. |
| Large Stocks | Larger Stocks upwards of $ 1,500m market cap |