Select Harvests Limited (SHV)
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Half-yearly Performance & Estimates - SHV
| Year-end June | FY11A | 1H12A | FY12A | 1H13A | FY13A | FY14E | FY15E |
|---|---|---|---|---|---|---|---|
| Sales, $m | 143.6 | 130.2 | 246.8 | 98.8 | 191.0 | 187.0 | 182.0 |
| EBITDA, $m | 27.9 | 9.7 | 3.7 | 14.5 | 27.0 | 44.5 | 46.0 |
| EBIT, $m | 22.7 | 9.7 | -2.5 | 14.5 | 22.3 | 39.7 | 40.0 |
| Report NPAT, $m | 17.7 | 6.1 | -4.5 | 20.5 | 20.0 | ||
| Adj. NPAT, $m | 20.0 | 24.6 | 25.1 | ||||
| Reported EPS, ¢ | 34.00 | 11.00 | -8.00 | 36.00 | 35.00 | ||
| Adjusted EPS, ¢ | 35.00 | 42.55 | 43.70 | ||||
| EPS %FY/Growth | -138% | -124% | 103% | -538% | 22% | 3% | |
| Dividend, ¢ | 13.0 | 5.0 | 8.0 | 3.0 | 12.0 | 13.85 | 14.60 |
| Franking, % | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| EBITDA Margin | 11% | 0 | 1% | 15% | 14% | 23.8% | 25.3% |
| NPAT Margin | 7% | 0 | -2% | 21% | 10% | 13.2% | 13.8% |
| ROE, % | 10% | 0 | -3% | 15 | 12% | ||
| EBIT/Interest | 6.7 | 0.0 | -0.4 | 6.0 | 4.42 | ||
| Net Debt / Equity | 0.43 | 0 | 0.42 | 0.44 | 0.50 | ||
| CashFlow/Sh, ¢ | 1.0 | 21.0 | 39.1 | 20.6 | 7.2 | 62.0 | 44.4 |
| Y/E Shares, m | 56.3 | 56.4 | 56.9 | 57.2 | 57.5 |
| 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 - SHV
| Year-end June | 1H11A | FY11A | 1H12A | FY12A | 1H13A | FY13E | FY14E |
|---|---|---|---|---|---|---|---|
| Sales, $m | 133.2 | 143.6 | 130.2 | 246.8 | 98.8 | 195.0 | 210.0 |
| EBITDA, $m | 11.8 | 27.9 | 9.7 | 3.7 | 14.5 | 31.5 | 32.3 |
| EBIT, $m | 11.8 | 22.7 | 9.7 | -2.5 | 14.5 | 25.3 | 26.0 |
| Report NPAT, $m | 8.2 | 17.7 | 6.1 | -4.5 | 20.5 | ||
| Adj. NPAT, $m | 20.5 | 14.5 | 15.3 | ||||
| Reported EPS, ¢ | 18.00 | 34.00 | 11.00 | -8.00 | 36.00 | ||
| Adjusted EPS, ¢ | 36.00 | 26.50 | 25.25 | ||||
| EPS %FY/Growth | 53% | -138% | -124% | 227% | -431% | -5% | |
| Dividend, ¢ | 10.0 | 13.0 | 5.0 | 8.0 | 3.0 | 6.20 | 6.60 |
| Franking, % | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| EBITDA Margin | 13% | 11% | 0 | 1% | 15% | 16.2% | 15.4% |
| NPAT Margin | 7% | 7% | 0 | -2% | 21% | 7.4% | 7.3% |
| ROE, % | 15% | 10% | 0 | -3% | 15% | ||
| EBIT/Interest | 11.7 | 6.7 | 0.0 | -0.4 | 6.0 | ||
| Net Debt / Equity | 0.40 | 0.43 | 0 | 0.42 | 0.44 | ||
| CashFlow/Sh, ¢ | -7.6 | 1.0 | 21.0 | 39.1 | 20.6 | 38.9 | 43.2 |
| Y/E Shares, m | 55.7 | 56.3 | 56.4 | 56.9 | 57.2 |
| 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-year Performance & Estimates - SHV
| Year-end June | 1H10A | FY10A | 1H11A | FY11A | 1H12A | FY12E | FY13E |
|---|---|---|---|---|---|---|---|
| Sales, $m | 124.6 | 136.1 | 133.2 | 143.6 | 130.2 | 259.0 | 183.0 |
| EBITDA, $m | 16.0 | 30.8 | 11.8 | 27.9 | 9.7 | 28.3 | 25.5 |
| EBIT, $m | 16.0 | 25.9 | 11.8 | 22.7 | 9.7 | 0.00 | 0.00 |
| Report NPAT, $m | 10.2 | 17.3 | 8.2 | 17.7 | 6.1 | ||
| Adj. NPAT, $m | 6.1 | 13.8 | 10.5 | ||||
| Reported EPS, ¢ | 26.00 | 43.00 | 18.00 | 34.00 | 11.00 | ||
| Adjusted EPS, ¢ | 11.00 | 24.00 | 18.00 | ||||
| EPS %FY/Growth | 60% | 53% | -21% | -39% | -29% | -25% | |
| Dividend, ¢ | 10.0 | 21.0 | 10.0 | 13.0 | 5.0 | 11.00 | 9.00 |
| Franking, % | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| EBITDA Margin | 13% | 13% | 13% | 11% | 7.3% | 10.9% | 13.9% |
| NPAT Margin | 7% | 7% | 7% | 7% | 4.6% | 5.3% | 5.7% |
| ROE, % | 15% | 15% | 15% | 10% | |||
| EBIT/Interest | 11.7 | 11.7 | 11.7 | 6.7 | 2.77 | ||
| Net Debt / Equity | 0.40 | 0.40 | 0.40 | 0.43 | 0.48 | ||
| CashFlow/Sh, ¢ | 55.7 | 64.1 | -7.6 | 1.0 | 21.0 | 0.00 | 0.00 |
| Y/E Shares, m | 39.6 | 39.8 | 55.7 | 56.3 | 56.4 |
| 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. |
Company Overview
Wave Chart
Profile
Select Harvests
Rating:
Category: Potent Stock ; Midcaps
Action:
Website: www.selectharvests.com.au
| ASX code: | SHV |
| Closing Price, 30/12/2013: | $ 5.370 |
| Market Capitalisation: | $ 294 million |
| 52 Week High: | $ 5.40 |
| 52 Week Low: | $ 1.35 |
| Sector: | Agricultural Products |
| Index: | S&P/ASX 300 Index |
Summary of Fundamentals
| Year-end June | FY12A | FY13A | FY14E | FY15E |
|---|---|---|---|---|
| NPAT, $m | -4.5 | 20.0 | 28.7 | 29.2 |
| Reported EPS, ¢ | -8.00 | 35.00 | ||
| Adjusted EPS, ¢ | 40.10 | 49.80 | 50.20 | |
| EPS Growth, % | -124% | -601% | 24% | 1% |
| P/E Ratio, x | -67.13 | 13.39 | 10.78 | 10.70 |
| Dividend, ¢ | 8.0 | 12.0 | 15.50 | 17.00 |
| Franking, % | 100% | 100% | 100% | 100% |
| Div. Yield, % | 1.49 | 2.23 | 2.89 | 3.17 |
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: | Agricultural Products |
| Return on Equity, FY13 : | 12% |
| Net Debt to Equity, FY13 : | 50 % |
| EBIT / Interest Cover, FY13 : | 4.42 x |
| Gicscode: | 30202010 |
| First Listed: | 15-Jun-78 |
Business Activities
Select Harvests Ltd (SHV) is a significant owner and manager of almond plantations, marketing almonds in the domestic and export markets. It also operates downstream production of nuts, raisins and related snack foods.
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 |