IMF (Australia) Limited
Views and News
Essentials
Half-year Performance & Estimates - IMF
| Year-end June | 1H12A | FY12A | 1H13A | FY13A | 1H14A | FY14E | FY15E |
|---|---|---|---|---|---|---|---|
| Sales, $m | 19.6 | 70.6 | 10.5 | 24.7 | 17.0 | 31.0 | 88.0 |
| EBITDA, $m | 16.1 | 59.7 | 7.3 | 17.6 | 13.5 | 22.1 | 66.3 |
| EBIT, $m | 16.0 | 59.5 | 7.1 | 17.4 | 13.4 | 21.9 | 66.2 |
| Report NPAT, $m | 12.0 | 43.0 | 5.7 | 13.9 | 9.1 | ||
| Adj. NPAT, $m | 9.1 | 16.4 | 47.5 | ||||
| Reported EPS, ¢ | 10.00 | 30.00 | 4.00 | 10.00 | 6.00 | ||
| Adjusted EPS, ¢ | 6.00 | 9.80 | 27.90 | ||||
| EPS %FY/Growth | 33% | 40% | -67% | 50% | -2% | 185% | |
| Dividend, ¢ | 0 | 10.0 | 0 | 5.0 | 5.0 | 9.00 | 15.00 |
| Franking, % | - | 100% | - | 100% | 100% | 100% | 100% |
| EBITDA Margin | 0 | 0 | 69% | 0 | 80% | 71.3% | 75.3% |
| NPAT Margin | 0 | 0 | 53% | 0 | 54% | 52.9% | 54.0% |
| ROE, % | 0 | 38% | 5% | 11% | 5% | ||
| EBIT/Interest | 0.0 | -29.8 | -4.4 | -6.1 | -76.74 | ||
| Net Debt / Equity | 0 | -0.25 | -0.30 | -0.25 | -0.44 | ||
| CashFlow/Sh, ¢ | 2.9 | -8.5 | -16.1 | -21.8 | -4.7 | 43.7 | 65.3 |
| Y/E Shares, m | 123.3 | 123.3 | 123.3 | 123.3 | 164.4 |
| 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 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 |
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.
Company Overview
Profile
IMF (Australia)
Rating: ♦
Category: Potent Stock ; Midcaps
Action:
Website: www.imf.com.au
| ASX code: | IMF |
| Closing Price, 20/06/14: | $ 1.910 |
| Market Capitalisation: | $ 316 million |
| 52 Week High: | $ 2.07 |
| 52 Week Low: | $ 1.52 |
| Sector: | Specialised Finance |
| Index: | S&P/ASX 300 Index |
Summary of Fundamentals
| Year-end December | FY13A | FY13A | FY14E | FY15E |
|---|---|---|---|---|
| NPAT, $m | 13.9 | 9.1 | 16.4 | 47.5 |
| Reported EPS, ¢ | 10.00 | 6.00 | ||
| Adjusted EPS, ¢ | 13.81 | 9.80 | 27.90 | |
| EPS Growth, % | -67% | 38% | -29% | 185% |
| P/E Ratio, x | 19.10 | 13.83 | 19.49 | 6.85 |
| Dividend, ¢ | 5.0 | 5.0 | 9.00 | 15.00 |
| Franking, % | 100% | 100% | 100% | 100% |
| Div. Yield, % | 2.62 | 2.62 | 4.71 | 7.85 |
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 23 June 2014
Other Highlights
| Sector: | Specialised Finance |
| Return on Equity, FY13 : | 5% |
| Net Debt to Equity, FY13 : | -44 % |
| EBIT / Interest Cover, FY13 : | -76.74 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 |