The RNS states that 13 companies are making up the Securitisation. There is 142 on board. Next time we have bank if all goes well with approvals. €6.5m net to SYME from just 13 companies Just under 50% of which will be net profit.
Names have been given. Companies like to keep there business private. To me, those names aren't that important. The numbers are. Thats what is important in this RNS.
How much net profit have we been told? 1% rising to 1.5% when we have the Bank How much is the Inventory? €300 How much revenue? €6.5m Margin? Just under 50% Net profit €3m euro. 1% of inventory as always known
RE: Why is it being called a "New Wheel" ;)28 Sep 2020 12:01
€6.5m by end of October net. 48% client growth in companies in 3 months Just the Italian side so far UK to come Middle East to come USA to come Bank funding to come.
The thirty Italian Client companies that form the first Inventory Monetisation portfolio will be notified that their target completion date is the end of October. This portfolio comprises corporates of various sizes which form part of supply chains led by the following companies.
The first portfolio Inventory Monetisation is expected to have a value of approximately €300m and to complete by the end of October 2020 (the first month of the next financial year). This is expected to deliver approximately £20.5m of annual revenue into special purpose securitisation vehicles and to generate an average annual net servicing fee of £6.5m to Supply@ME. The Inventory Monetisation contracts have a three-year fixed duration plus a one-year option.
So thats 13 companies that made up that first Securitisation. Next ones loading up for the March Securitisation.
Date/ Number of client companies / Value (Euro) Gross origination
Dec 19 - 66 - 972m
31.3.20 - 82 - 1.22bn
30.6.20 - 97 - 1.43bn
30.9.20 - 142 - 1.64bn
As you can see, 13-142= 129 companies left so far, for the March spv. 129/13=9.923 so we have 9.923 times the amount of companies still to do. 13 only done. 9.923 x €6.5mn = €64,500,000
So you could say if things stay the same on average. We could be looking at €64.5m in net by March
PE of 10 would give a market cap of lets say £600m to cover EURO to GBP. I think with the repeat business and level of growth. 20 would be more likely so a market cap of £1,200m
I look at it like the company has its own supply chains and they are often run via different but connect ltd companies. Do you think Carrefour would be ok with their name in an RNS if it wasn't connected?