IMF (Australia) Limited
Views and News
Essentials
Recent News Highlights
As at 31/12/2012 : see details at www.imf.com.au (new window? Shift+Click)
| 21/12/2012 Incorporation of Foundation in The Netherlands |
| 05/12/2012 New US Funding Agreement |
| 22/11/2012 2012 AGM & Presentation |
| 05/11/2012 Judgement - Standard & Poors, ABN AMRO and Others |
| 01/11/2012 Case Investment Portfolio as at 30 September 2012 |
| 10/09/2012 US Funding Agreement |
| 06/02/2012 To fund investigations of negligence re Wivenhoe Dam, Queensland |
| 01/02/2012 More class actions against WBC (now the big four + Citibank) |
| 25/01/2012 Case Investment Portfolio as at 31 December 2011 |
| 24/01/2012 Appendix 4C - quarterly |
| 06/01/2012 Company Update |
| 19/12/2011 Conditional Settlement - Credit Corp Class Action |
| 16/12/2011 Further Class Actions - Bank Fees Case |
| 14/12/2011 Convertible Note Interest Payment |
| 09/12/2011 Expansion Strategy into the USA |
| 05/12/2012 Bank Fees Update; ANZ: Federal Court ruling in IMF class action |
| 04/11/2011 AGM Presentation |
Half-yearly Performance & Estimates - IMF
| Year-end June | FY11A | 1H12A | FY12A | 1H13A | FY13A | FY14E | FY15E |
|---|---|---|---|---|---|---|---|
| Sales, $m | 38.0 | 19.6 | 70.6 | 10.5 | 24.7 | 67.0 | 73.0 |
| EBITDA, $m | 31.4 | 16.1 | 59.7 | 7.3 | 17.6 | 51.5 | 56.5 |
| EBIT, $m | 31.2 | 16.0 | 59.5 | 7.1 | 17.4 | 51.3 | 56.3 |
| Report NPAT, $m | 22.9 | 12.0 | 43.0 | 5.7 | 13.9 | ||
| Adj. NPAT, $m | 13.9 | 35.1 | 40.4 | ||||
| Reported EPS, ¢ | 17.00 | 10.00 | 30.00 | 4.00 | 10.00 | ||
| Adjusted EPS, ¢ | 10.00 | 23.95 | 27.55 | ||||
| EPS %FY/Growth | 33% | 76% | 40% | -67% | 140% | 15% | |
| Dividend, ¢ | 15.0 | 0 | 10.0 | 0 | 5.0 | 15.00 | 15.50 |
| Franking, % | 100% | - | 100% | - | 100% | 100% | 100% |
| EBITDA Margin | 0 | 0 | 0 | 69% | 71.3% | 76.9% | 77.4% |
| NPAT Margin | 0 | 0 | 0 | 53% | 56.3% | 52.4% | 55.3% |
| ROE, % | 26% | 0 | 38% | 5 | 11% | ||
| EBIT/Interest | -19.2 | 0.0 | -29.8 | -4.38 | -6.13 | ||
| Net Debt / Equity | -0.25 | 0 | -0.25 | -0.30 | -0.25 | ||
| CashFlow/Sh, ¢ | -5.1 | 2.9 | -8.5 | -16.1 | -21.8 | 39.8 | 37.3 |
| Y/E Shares, m | 123.3 | 123.3 | 123.3 | 123.3 | 123.3 |
| Notes |
| Data sourced from IRESS Market Technology Limited. EPS Growth compared with the pcp is shown in most columns, except 1H11A and 1H12A which show the first half % of full year EPS. In a handful of cases, unadjusted share splits may give strange changes in ratios. |
Half-year Performance & Estimates - IMF
| Year-end June | 1H11A | FY11A | 1H12A | FY12A | 1H13A | FY13E | FY14E |
|---|---|---|---|---|---|---|---|
| Sales, $m | 23.5 | 38.0 | 19.6 | 70.6 | 10.5 | 39.0 | 62.0 |
| EBITDA, $m | 21.3 | 31.4 | 16.1 | 59.7 | 7.3 | 26.9 | 48.4 |
| EBIT, $m | 21.2 | 31.2 | 16.0 | 59.5 | 7.1 | 26.5 | 48.1 |
| Report NPAT, $m | 15.2 | 22.9 | 12.0 | 43.0 | 5.7 | ||
| Adj. NPAT, $m | 5.7 | 19.3 | 35.1 | ||||
| Reported EPS, ¢ | 12.00 | 17.00 | 10.00 | 30.00 | 4.00 | ||
| Adjusted EPS, ¢ | 4.00 | 13.20 | 24.35 | ||||
| EPS %FY/Growth | 71% | 33% | 76% | -60% | -56% | 84% | |
| Dividend, ¢ | 10.0 | 15.0 | 0 | 10.0 | 0 | 11.00 | 12.50 |
| Franking, % | 100% | 100% | - | 100% | - | 100% | 100% |
| EBITDA Margin | 0 | 0 | 0 | 0 | 69% | 69.0% | 78.1% |
| NPAT Margin | 0 | 0 | 0 | 0 | 53% | 49.5% | 56.6% |
| ROE, % | 16% | 26% | 0 | 38% | 5% | ||
| EBIT/Interest | -8.3 | -19.2 | 0.0 | -29.8 | -4.38 | ||
| Net Debt / Equity | -0.59 | -0.25 | 0 | -0.25 | -0.30 | ||
| CashFlow/Sh, ¢ | -9.4 | -5.1 | 2.9 | -8.5 | -16.1 | 28.2 | 29.7 |
| Y/E Shares, m | 121.9 | 123.3 | 123.3 | 123.3 | 123.3 |
| Notes |
| EPS Growth compared with the pcp is shown in most columns, except 1H10A and 1H11A which show the first half % of full year EPS. |
Half-yearly Performance & Estimates - IMF
| Year-end June | FY10A | 1H11A | FY11A | 1H12A | FY12A | FY13E | FY14E |
|---|---|---|---|---|---|---|---|
| Sales, $m | 19.8 | 23.5 | 38.0 | 19.6 | 70.6 | 51.0 | 44.0 |
| EBITDA, $m | 15.3 | 21.3 | 31.4 | 16.1 | 59.7 | 39.7 | 33.5 |
| EBIT, $m | 15.1 | 21.2 | 31.2 | 16.0 | 59.5 | 31.5 | 28.2 |
| Report NPAT, $m | 12.0 | 15.2 | 22.9 | 12.0 | 43.0 | ||
| Adj. NPAT, $m | 43.0 | 26.0 | 22.0 | ||||
| Reported EPS, ¢ | 10.00 | 12.00 | 17.00 | 10.00 | 30.00 | ||
| Adjusted EPS, ¢ | 30.00 | 18.50 | 14.90 | ||||
| EPS %FY/Growth | 71% | 70% | 33% | 76% | -38% | -19% | |
| Dividend, ¢ | 5.0 | 10.0 | 15.0 | 0 | 10.0 | 10.00 | 10.00 |
| Franking, % | 100% | 100% | 100% | - | 100% | 100% | 100% |
| EBITDA Margin | 0 | 0 | 0 | 82.1% | 84.6% | 77.8% | 76.1% |
| NPAT Margin | 0 | 0 | 0 | 61.2% | 60.9% | 51.0% | 50.0% |
| ROE, % | 16% | 16% | 26% | 38% | |||
| EBIT/Interest | -8.3 | -8.3 | -19.2 | 0.00 | -29.82 | ||
| Net Debt / Equity | -0.59 | -0.59 | -0.25 | 0 | -0.25 | ||
| CashFlow/Sh, ¢ | -1.9 | -9.4 | -5.1 | 2.9 | -8.5 | 31.9 | 27.9 |
| Y/E Shares, m | 121.9 | 121.9 | 123.3 | 123.3 | 123.3 |
| Notes |
| Data sourced from IRESS Market Technology Limited. EPS Growth compared with the pcp is shown in most columns, except 1H11A and 1H12A which show the first half % of full year EPS. In a handful of cases, unadjusted share splits may give strange changes in ratios. |
Company Overview
Russell Research in the media
Stock Picks for Sunday Herald Sun - 25 August 2013
BUY IMF (Australia) (IMF) $2.02
Litigation financier IMF had unfinished cases in the year just ended and built its forward workload. Expect a strong result and dividend in 2014.
Stock Picks for Sunday Herald Sun - 15 January 2012
BUY: IMF (Australia) Limited, IMF, $1.35
Australia's stand-out litigation financier, IMF has a strong and growing forward workload. Timing of results and profits is unpredictable, but should sustain a double digit yield.
Profile
IMF (Australia)
Rating: ♦
Category: Potent Stock ; Midcaps
Action:
Website: www.imf.com.au
| ASX code: | IMF |
| Closing Price, 30/12/2013: | $ 1.760 |
| Market Capitalisation: | $ 289 million |
| 52 Week High: | $ 2.12 |
| 52 Week Low: | $ 1.48 |
| Sector: | Specialised Finance |
| Index: | S&P/ASX 300 Index |
Summary of Fundamentals
| Year-end June | FY12A | FY13A | FY14E | FY15E |
|---|---|---|---|---|
| NPAT, $m | 43.0 | 13.9 | 38.1 | 55.1 |
| Reported EPS, ¢ | 30.00 | 10.00 | ||
| Adjusted EPS, ¢ | 9.80 | 24.40 | 33.90 | |
| EPS Growth, % | 76% | -67% | 149% | 39% |
| P/E Ratio, x | 5.87 | 17.96 | 7.21 | 5.19 |
| Dividend, ¢ | 10.0 | 5.0 | 12.00 | 18.00 |
| Franking, % | 100% | 100% | 100% | 100% |
| Div. Yield, % | 5.68 | 2.84 | 6.82 | 10.23 |
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. |
One Year Chart
As at 30 December 2013
Other Highlights
| Sector: | Specialised Finance |
| Return on Equity, FY13 : | 11% |
| Net Debt to Equity, FY13 : | -25 % |
| EBIT / Interest Cover, FY13 : | -6.13 x |
| Gicscode: | 40201040 |
| First Listed: | 28-Jan-00 |
Business Activities
IMF (Australia) Ltd. (IMF) provides funding of legal claims and related services, in Australia and in other jurisdictions, where the claim size is over AUD$2 million. IMF has an Australian Financial Services License.
Glossary:
| ♠ | "A Core Stock" - reliable long-term yield & growth |
| ♥ | "We like it" - a seasoned performer, growth & yield |
| ♦ | "A tough scout" - creating 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 |