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UWL, Uniti Group Limted
nipper
post Posted: Sep 15 2021, 08:56 PM
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In Reply To: nipper's post @ Sep 14 2021, 08:54 PM

will this just blow past? UWL peaked at 4.38 early in Sept, and has had a few gentle down days to be 4.12 on 13/09. Yesterday, it slumped to 3.42 rather quickly before bouncing back (mostly), and today had traded between 3.80 and 4.00, to close around 3.90
QUOTE
UWL notes media reports earlier today regarding allegations having been made against one of its directors, Mr Vaughan Bowen, by ASIC in relation to the personal trading of shares in Vocus Group Limited in June 2019.

The Company understands that Mr Bowen emphatically denies the allegations and will be vigorously defending the matter. The Company also notes that this matter does not relate to trading in UWL shares.

The operations of Uniti Group will not be impacted. The Company’s business, and executive team, will continue as normal under the leadership of MD & CEO Michael Simmons.

The UWL Board does not intend to make any changes to Mr Bowen’s role and position of Executive Director (M&A) of the Company, which will continue, until the outcome of this matter has been determined.





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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Sep 14 2021, 08:54 PM
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UWL sold down then in a trading halt. One of the directors possibly in a spot of bother with earlier company activities, share sales in Vocus and M2, according to media reports



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 24 2021, 04:58 PM
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Uniti reported $64.2 million of free cash flow with its full year results, and will consider paying dividends in future periods.

Revenue nearly tripled to $160.5 million. Net profit almost doubled to $29.2 million.

CEO Mick Simmons described the second half as a clean six months as it had not made any acquisitions during the period, and told investors M&A activity was unlikely for the time being.

He said Uniti had weathered the toll from COVID19 outbreaks in Sydney and Melbourne but warned any slowdown in construction activity, critical for the company as it lays down fibre to new property developments, would probably not eventuate until later in the calendar year.

The company recorded a 15 per cent increase in active, connected or in construction premises to take its total to 500,000 in the second half of the 2021 financial year. When the migration of customers from its buyout of Telstra Velocity is finished, this will stretch to over 565,000.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jun 14 2021, 09:21 PM
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S&P/ASX 200 Index – Effective Prior to the Open on June 21, 2021

Action ...... Code ... Company

Addition .. UWL ... Uniti Group Limited



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Feb 23 2021, 03:46 PM
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An acquisition spree through the back half of 2020 has weighed heavily on rapidly rising revenue and earnings at challenger telco Uniti Group.
QUOTE
Uniti has transformed into a core infrastructure owner and operator, enjoying scale and relevance in our chosen markets & with the unique advantage of having ‘locked-in’ organic growth, thanks to our large and growing contracted fibre order book.
We are today a core infrastructure business, generating operating free cash flow exceeding 60% of our earnings, after investing in the further expansion of our fibre telecommunications infrastructure.
We are privileged to be operating in a segment of the telecommunications industry experiencing once-in-a-lifetime favourable market and economic conditions and investing in fibre infrastructure, which delivers a highly demanded essential commodity to consumers and business, which is able to accommodate very long term demand growth with minimal incremental capital or operating expenditure.
The fact that 75% of our existing fully funded, contracted fibre order book will be deployed in the coming 5 years , and is continuing to grow at improving rates, assures our shareholders of continued steep earnings growth and free cash generation over both the near and longer





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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jan 19 2021, 10:38 AM
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A fund managers view.


: What is your most underrated stock at the moment?

HT: I'd probably say Uniti Group Ltd (ASX: UWL), as it is now called.

It is a fibre network provider. Over the last 18 months it transitioned from providing fibre network services to residential, greenfield residential developments to become much more a fibre infrastructure company. It has recently just bought OptiComm Ltd, and also bought the Telstra Corporation Ltd (ASX: TLS) Velocity business.

I think COVID has highlighted the importance of digital technology and also fibre connectivity.

What we found interesting and one of the observations we have made is that these assets are increasingly being appreciated as social infrastructure assets. The utility type assets, much like toll roads and airports, but I do not think they have been historically thought of in that way.

COVID has helped really shift that focus and show that these businesses have strong annuity earnings and, in some ways, aren't as volatile or… impacted by things like economic activity such as passenger movements and car traffic and so forth.

The one thing that struck us is that during the bid they made for OptiComm, Aware Super, which is the old First State Super, made a rival bid. In our mind, this reinforces the point that these assets are starting to be viewed in a different light, [as] the social infrastructure type assets.

Our view is that Unity is now the number 2 player in what is essentially a duopoly market with NBN. And they are the only player that has got the ability to sell in the wholesale and retail channels, through having recently won structural separation approval from the ACCC.

It is a business that… has probably emerged stronger from COVID to become really what we think will be a social or a fibre infrastructure business going forward.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 


nipper
post Posted: Dec 16 2020, 09:10 AM
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and the ambition is showing
UNITI ACQUIRES TELSTRA VELOCITY® & SOUTH BRISBANE EXCHANGE ASSETS
Adds ~50,000 Active FTTP Services.
Telstra to become a RSP of Uniti.
Highly Accretive.



Telstra Velocity® & South Brisbane Exchange is Australia's second largest private FTTP network

~ 68,000 premises passed , ~ 65,000 FTTP connected premises, ~ 50,000 active premises

Telstra to become a RSP on Uniti's national FTTP network ( including OptiComm )

Purchase Price of $140M, $85M payable on completion, $55M deferred with $20M payable over 3 years and $35M on completion of migration of the assets and services, with an ability to adjust the total purchase price subject to the size of the customer base at the time of migration

Uniti commits to $70M spend for a 10 year term with Telstra Wholesale for essential backhaul, duct and exchange access to support delivery of services following customer migration being completed

Forecast annual EBITDA contribution to Uniti of $ 21M, commencing from early January 2021 and potentially increasing post migration of assets and services

~ 13 % EPS accretive and increases FY21 pro forma EBITDA by more than 20% to $116M

Acquisition funded by mix of debt, underwritten equity placement and share purchase plan

Uniti net debt to FY21 pro forma EBITDA ~2.3 times ratio at completion



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Nov 17 2020, 09:34 AM
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In Reply To: nipper's post @ Sep 8 2020, 01:11 PM

fresh from seeing off the Aware Super tilt for OptiComm (but having to lift the offer to match)
QUOTE
The securities of OptiComm Ltd will be suspended from quotation at the close of trading today, Friday, 13 November 2020, in accordance with Listing Rule 17.2, following lodgement of the Federal Court of Australia orders with the Australian Securities and Investments Commission approving the scheme of arrangement by which Uniti Group Limited will acquire all of the issued shares in OPC

and now, a further acquisition
QUOTE
... Uniti acquires 100% of fast growing, specialist Retail Service Provider, Harbour ISP , which specialises in delivery of superfast retail broadband services in greenfield developments
.... Preferred broadband RSP with leading Australian greenfield property developers, including Mirvac
.... More than 30,000 retail broadband customers, doubling the Uniti current retail customer portfolio
.... Purchase consideration of $9.25M + 1M options (at exercise price of $1.54) to acquire UWL shares
.... Forecast earnings contribution, including synergies, of $3M+, a purchase multiple of ~3x EBITDA
.... Highly strategic & accretive acquisition, enabling greater penetration & revenue expansion on Uniti owned fibre networks, including those added via the OptiComm acquisition
probably a good business would be to set up a localised ISP and wait to be acquired?



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Sep 8 2020, 01:11 PM
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In Reply To: nipper's post @ Aug 24 2020, 11:54 AM

the transformation that FY20 was aimed to be is not complete... The bid for OptiComm OPC at $5.20 has been beaten by a Super Fund coming in at $5.85.

..So, OPC up 10% and UWL down 10% ($1.28 now)



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Aug 24 2020, 11:54 AM
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Posts: 10,050
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QUOTE
FY20 was wholly transformational for Uniti, having completed three substantial acquisitions in the first half, namely LBNCo, OPENetworks and 1300 Australia, each of which therefore contributed to Uniti’s FY20 earnings for part of the year.

The organic growth achieved in the second half of FY20 by the now substantially enlarged Uniti business, combined with an effective integration program, resulted in the Company upgrading its underlying EBITDA0 guidance for the second half of FY20 and its forecast June 2020 underlying EBITDA runrate on three separate occasions, twice in February and again in June.


Uniti finished FY20 with an annualised underlying EBITDA exit runrate of approximately $41M, a 24% increase in the second half of FY20 on the same measure as at December 2019, generated entirely organically.

Very pleasingly, Uniti continued to convert operating earnings into free cash flow with Net Operating Cash Flow in Q4 FY20 of $10.1M providing Uniti with the ability to fund any growth capital expenditure out of operating cash flow. Capex as a percentage of underlying EBITDA for FY20 was 31%, and for Q4 of FY20 was 38%.




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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