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Another acquisition for Cavotec - Meyerinck. Sounds like a good fit with existing business and adds around 5% to sales. No indication on purchase price, but would seem a good time to be making suitable acquisitions and unlikely to stretch the balance sheet.
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  • 3 months later...
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  • 4 weeks later...

Fairly solid full year result for Cavotec - NPAT up 27% in Euro's and 38% in NZD. Also good to see order book 21% higher at year end (Euro's) than previous year.

 

Still, disappointed to see the fall in NTA - mostly the result of paying for alot of intangibles/goodwill in their most recent acquisition. Doesn't seem the time to be doing too much of that. Debt also increasing in the face of both acquisition and increased demands for working capital as they build inventory and receivables required to fill recent large contract wins. So despite a strong result, a weaker balance sheet - less acceptable than it might have been a couple of years ago, but I doubt will become problematic...

 

 

 

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