Key message: SG Fleet announced the acquisition of LeasePlan ANZ. The cost to Super Group will be A$51.9m to follow a SG Fleet rights offer and dilution to 52.3% holding in SG Fleet after the partial SG Fleet scrip payment.
Key message: SG Fleet has requested a suspension of trading on the ASX pending an announcement on Friday 26 March. It appears than SG Fleet is having another look at LeasePlan’s Australian business.
Key message: Linebooker is a freight and service platform for the logistics sector in South Africa. Funded by ARC and started in 2017, Linebooker is the only online platform of its kind in South Africa and has grown to be the largest logistics broker in the market.
Key message: Strong results as the DIY/building market is experiencing a boom period. High cash generation reduces the debt requirement for the TBC acquisition.
Key message: A strong order book reflects the fruits of a switch to focus on resources and large infrastructure projects. Risk management is strong and will be a key factor for success.
Key message: More clarity around the strategic focus of becoming a trusted supply chain partner in Africa. Integration risk due to the acquisitive led growth strategy will need to be watched.
Key message: Good margin recovery as local markets recover and restructuring benefits become evident. Mpact is well positioned competitively in recycled paper.
Key message: Strong demand across the Integrated Timber, Integrated Bedding and Polymer divisions drives margin growth.
Key message: The non-trading losses should now be significantly smaller with Mumbai Airport and Ontime being sold. The underlying operational performance was very good given the circumstances.
Key message: Margins recover well mainly due to pre-Covid cost cutting. SG Fleet has weathered Covid-19 well but remains undervalued in the Super Group share price.