StockTalk

Quote from: lorraina on Jul 15, 2026, 09:04 AMHi David,
I like the sector ,the company's strong balance sheet and low debt and positive cash flow from operations.
I like the way you run the business and have enjoyed seeing you do what you say you will do.
I think it makes sense that you own the business 100%,although I will be sad to sell our shares.
However I think because the present outlook is so strong the shares are worth between $1.05 and $1.35..
Austen

I think your assessment of fair value is sound.  Will he be forced to increase the takeover price is the $64,000 question ?

Quote from: winner (n) on Jul 15, 2026, 01:39 PMTime to get that new Merc or Jag lorriana ...or a Alfa Romeo

Hmmmmmmmmm.?The 2004 Nissan Slyphy.
I was going to buy a new car when I turned 70.
Then I put it off until I turned 75.
Then I put it off until I turn 80.Bit over two and a half years away.
A few months ago the Nissan started stalling a the lights.Thoughts turned to a new car.
However a magic mechanic said it was the throttle bodies carboning up.$40 later she is running like a Swiss watch.
Manager at Flag tyres said last time I sailed through a WOF."This is a nice car".Wise man...lol

Annual report to 31st March 2025.
Revenue was boosted by $1.7 million related to carbon credits
generated and retained in the prior fiscal year, but not previously
recognised due to regulatory uncertainty regarding their
realisation. This revenue was then partly offset by $1.1 million of
carbon credit costs associated with net credits attached to vehicles
sold in FY25.

Half year interim result 13th November 2025.
Gross margin decreased by two percentage points to 19%, primarily due to the impact of carbon tax costs under the Clean Car Standard. The $0.7 million decrease in NPAT primarily reflected the $0.7 million after-tax impact of the Clean Car Standard, as other favourable and unfavourable movements largely offset each other.

Therefore Govt Clean Car regs affected 2CC 2025 results.
On 1st January  2026 The Govt altered The Clean Car regs which resulted in 2CC taking off.

From latest annual report.
Hybrid and electric vehicles continued to make up a significant and growing proportion of the
Group's sales mix in FY26.
For the full year, EV/HEV vehicles averaged approximately 60% of total vehicle sales, up from
approximately 50% in FY25. While the mix eased slightly in the final quarter, demand remained
strong across the year, reflecting both a clear customer preference for more fuel-efficient vehicles
and the Group's ability to adjust sourcing through its direct procurement capability in Japan.
This shift highlights the importance of maintaining a flexible sourcing model and a product mix
that reflects customer affordability, fuel-efficiency preferences and the ongoing impact of Clean
2026 2025 Change % Car Standard settings.
 
Trading Update 19th June 2026.
As outlined in the Company's FY26 results announcement (29 May 2026), trading momentum improved materially through the second half of FY26. This was driven by stronger vehicle margins, improved procurement conditions, disciplined cost control and robust finance and insurance penetration rates.

This momentum has continued into the early part of FY27.

The Company recorded net profit after tax (NPAT) of approximately $0.6 million in March 2026, the final month of FY26. Unaudited management accounts for April and May 2026 also each show NPAT of approximately $0.6 million. Trading through the first half of June has remained positive

It feels good to help your kids and grandkids, no question about that !

One thing that intrigued me that I wonder if you could provide further clarification on, is they said in the FY26 annual report that FY26 was impacted to the tune of $1.7m by extra carbon costs relative to FY25, (however the profit stayed very similar year on year), but that the regime had changed by the fourth quarter providing relief.  They didn't seem to quantify that relief ?

Doesn't that carbon credit change imply quite a meaningfully more helpful trading environment going forward and what would the estimated reduction in carbon credit costs be in FY27 relative to last year ?  Any insights on that you can share ?

Quote from: winner (n) on Jul 15, 2026, 01:39 PMTime to get that new Merc or Jag lorriana ...or a Alfa Romeo

You're quite right there Winner, you cannot take your money with you when you go and your, mine and Lorriana's kids and grandkids as well as many other posters on here with their kids will probably inherit far more than they really deserve. 

Time to get that new Merc or Jag lorriana ...or a Alfa Romeo

This is a note I sent to David Sena.;

Hi David,
I like the sector ,the company's strong balance sheet and low debt and positive cash flow from operations.
I like the way you run the business and have enjoyed seeing you do what you say you will do.
I think it makes sense that you own the business 100%,although I will be sad to sell our shares.
However I think because the present outlook is so strong the shares are worth between $1.05 and $1.35..
Austen


PS.As you know with illiquid shares you have to buy/sell when there is liquidity .
This means we will most probably sell into the take over.
The independent report should make for interesting reading.
As I have previously posted selling would mean we can pay off the granddaughters mortgage with our profit ,and still have a substantial amount to reinvest..
A lot has been made of the risks of importing cars from Japan.However for the past 50 years it has meant NZ vehicle fleet has stayed reasonably modern.

Quote from: Pierre on Jul 14, 2026, 12:57 PM......The SP continues to hover around 27-30cps and I cant help pondering where it might settle when the LCD decision we are anticipating is announced. I'm picking somewhere around 60c until the full financial benefit starts to be realised. Your thoughts?

They say the market is forward looking. PEB's SP has risen approximately 50% YTD.

Perhaps the news of a favourable LCD decision is already partly reflected in the current SP (around $0.30c) and what will drive PEB's SP further north will be PEB's plans revealed around a LCD decision.

Peter Meintjies his team will have been busy planning... (both good or bad scenarios,) and I suspect they will have a list of related PEB announcements and options to announce once the LCD decision is made.   PEB's plans could include;  salesforce changes/additions, new market strategies,  USA legal options, maybe even new partnerships and/or aquisitions, as well as FY27 revenue/profit/loss/cash burn projections etc.

I'm happy to leave future PEB SP predictions to others (and would be v happy at Pierre's $0.60 as my DCA is well into profit at current levels.)

PEB's ASM is coming up on 20 August and we may see some plans revealed then.

I'm also feeling now is not the right time to apply fresh capital with global growth funds. Plenty of froth in some of the tech stocks and a S&P500 ETF has a lot of exposure to it.  Even a global fund like Simplicity's one has a high allocation to it based on its market capitalization.

Very disappointing to see the Middle East back into complete turmoil again.

What do you really think Lorriana, is 80 cents fair and reasonable ?

I think positive LCD only gets the share price to 40-45c and further gains will come once they show much higher test volumes in 2027-2028