Pharmazen

[Minimoke]

Just thought I'd get this thread started.

I went to the AGM the other day.  Essentially VREY happy with my position. They have had a tough year with covid and China but still managed to build another factory.

Seems they have been distracted with the build but now that is petty much done no excuses for not getting product out the door.

I get the sense a main board listing is on the cards. Not sure where though.

[kasper]

Just thought I'd get this thread started.

I went to the AGM the other day.  Essentially VREY happy with my position. They have had a tough year with covid and China but still managed to build another factory.

Seems they have been distracted with the build but now that is petty much done no excuses for not getting product out the door.

I get the sense a main board listing is on the cards. Not sure where though.

I don't see a main board listing happening until 2024 but can't wait for it to happen, for any larger holders to sell any significant volume of their shares it will be a must happen.

[Fiordland Moose]

I don't see a main board listing happening until 2024 but can't wait for it to happen, for any larger holders to sell any significant volume of their shares it will be a must happen.
[/quote]

I'm a relative noob here re Pharmazen - have they made sounds in the past re being interesting on listing on the NZX?

[kasper]

I don't see a main board listing happening until 2024 but can't wait for it to happen, for any larger holders to sell any significant volume of their shares it will be a must happen.

I'm a relative noob here re Pharmazen - have they made sounds in the past re being interesting on listing on the NZX?
[/quote]Yes at last years AGM they talked about preparing for it but obviously with the whole Covid thing its been put back in order of importance.

[lento88]

Just thought I'd get this thread started.

I went to the AGM the other day.  Essentially VREY happy with my position. They have had a tough year with covid and China but still managed to build another factory.

Seems they have been distracted with the build but now that is petty much done no excuses for not getting product out the door.

I get the sense a main board listing is on the cards. Not sure where though.

Thanks mm, appreciate the feedback from the AGM

[kasper]

Fantastic buying at current prices, I've been topping up for the long haul over the last while, a few custodial holdings have been dispatching a few, bless them.

[Minimoke]

Excellent half year report

"Revenue for the six months to 30 June 2022 increased 36% over the previous corresponding period (FY 21 H1), from $9.4 million to $12.8 million. This increase is despite the ongoing Covid impacts on supply chain and the labour constraints being experienced.

Underlying EBITDA2 also increased up 135% over the previous corresponding period from $776,000 to $1.8 million, illustrating the leverage that we can achieve on increased sales. "

And, importantly. " we anticipate producing commercial product from the first new dryer in August and the second expected to be online in September. With both freeze dryers fully operational by the end of September this will double our freeze-drying capacity compared to the start of the year. "

[Minimoke]

Oh. There's another page of delight filled reading

"PharmaZen is well positioned to continue the recovery achieved to date and given our increased capacity and continuing strong demand for our products, we are forecasting notably higher sales and a higher underlying EBITDA than the first half."

And market likes it. You can fil your boots now at $0.60 now that those 50 cent sellers have been snapped up.

[kasper]

Yep very happy with progress here in difficult times, patience will be well rewarded in due course.

[lento88]

Strong 1H22 result IMO – encouraging progress moving forward with timely completion of capital projects under testing conditions. Ebitda increasing over PCP due to increased efficiencies and  economies of scale (as promised) bodes well moving forward, and with the 2 new freeze dryers fully operational by Sept & Rolleston #1 operational by Dec – then the 2023 financial updates should be much anticipated.
Market details of the new product line @ Rolleston #2 will hopefully be released by end Nov. and judging by Ken Fergus' comment that it will be "primarily a special purpose botanicals (plant based) facility" then presumably it will be some sort of juice/blackcurrent extraction development as alluded to in May 27th Agm (Slides #65&67).

[Iceman]

It's a good report confirming steady progress and catch-up after the mainly COVID driven delays with the factories. We will have the 2 new freeze dryers at Port Hills up and running in September, doubling capacity compared to start of this year. Such production increase will have a major boost to the bottom line as they have illustrated with the 135% jump in EBIDTA from 36% increase in revenue in this H1 report.
Next year will be our year.

[Minimoke]

After leaving this years AGM I was left with the impression board and management had been severely distracted by covid and construction related issues. And reasonably so. Gone were the idea of doggy treats and new packaging and gone was aiora. But despite that they managed a team that, under extremely difficult circumstances managed to get factories built.

It is now clear that we have moved into an era that covid and construction is essentially behind us. The one black spot on the horizon is this useless governments insistence on keeping the labour market closed and artificially raising wages.

That aside its a clear horizon. Head winds have gone.

Board and management have a long and proven track record of delivering. No fuss. No nonsense. Just rolled their sleeves up and got things done.

It is very clear to me that demand for product exceeds ability to supply. New factory capacity will help with that.

Costs will now become more manageable. Margins can be tweaked.

Quality raw materials are on hand.

There is no doubt they are looking at main board listing. But I wouldn't be assuming its a NZX listing.

I am very comfortable with my current position. I've held after SP dropped from its highs near $.85. Currently I am holding a five bagger. And very confident this stock will get me a 10 bagger in the not too far distant future. In a years time I reckon $0.60 is going to look like very cheap buying.

And I do have dividend tucked in the very back of my mind - I need to drill down into the numbers a bit more before getting too excited.

[Minimoke]

Popped by the other day. Tarseal down around main rolleston factory. This means all heavy plant now inside factory. Second factory next door build coming on well.

Must be due an update soon.

SP has been falling back - I am hoping they have put required focus on sales and not just on building.

I'll post photos if I can figure out how to do it.

[lorraina]

https://usx.co.nz/uploads/paperclip/documents/2749/original/PZ_History_and_Future_Growth.pdf?1671571696

[Minimoke]

https://usx.co.nz/uploads/paperclip/documents/2749/original/PZ_History_and_Future_Growth.pdf?1671571696

Nice to see some photo's - but where are the financials.

I am ready for PAZ to stop being a construction company - that seems to be all we have head over the last year or so.