STU - Steel & Tube Holdings

[winner (n)]

Cash at year end about the same as it was last year end

So Free Cash Flow not that much ...but just enough to give a hand out to shareholders

[winner (n)]

Future Infrastructure spend saviour of STU as Susan said a few months ago "There has been underinvestment in New Zealand's infrastructure for many years and we look forward to the new coalition Government confirming its long term investment plan"

Chart below from Budget numbers

Will Susan be pleased (Esp from a growth perspective)

You cannot view this attachment.

[Perky]

STU will be creaming it...should get an order at least for some bolts for the power pylon that fell over ...maybe the whole structure a write off...and some sheet steel for the ferry repair and that's just the last week..lol

As long as some clever clogs doesn't come up with a timber solution like cross laminated timber for all those windmilly things and solar panel structures we going to be building as steel helps us turn green...they will be ok.

You called it early eh winner...told us it was going under $1... took a while to come true but it did.

Sold my small Stu holding progressively over last few months at$1.20, $1.09 and $1.05...but I think if it goes below much below 0.80c might buy some back for the ride back up. Still keen on VSL longer term but it keeps getting cheaper so happy to wait for the whole sector to show some turnaround.

No hurry to buy in to either Stu or Vsl at moment me thinks...maybe capital loss and reduced divvies until earning turn up.

[winner (n)]

Perky mentions dividend....here's how I see it

They say cash on hand at end of yesr is about $7m which is much the same as it was a year prior .....which implies FCF generated has already gone out as dividends ($13.4m in financial year)

Pay another 4 cents and that $7m has gone so would have to do we have confidence in the future trick.

I think it unwise to pay more than earnings out as a dividend ....you've done your dash for the year with the 8nterim.

But no worries, Susan says there's one coming

[winner (n)]

Good news must be coming next month ,,,STU share price up more than 10% over last few days ....and over $1 .and way up from mid 80's it was not that long ago.

Mark no doubt polishing up his rave for full year results and telling us the market is becoming quite buoyant and F25 will be bloody good

[winner (n)]

Good gracious me ...Stats NZ says - In June 2024, the seasonally adjusted number of new dwellings consented fell 14 percent, after falling 1.9 percent in May 2024.

Doesn't bode well for a great recovery .....and govt not doing much infrastructure stuff either

Total consents residential and non-residential 28% less than June last year (and that's value)

[Teitei]

Good gracious me ...Stats NZ says - In June 2024, the seasonally adjusted number of new dwellings consented fell 14 percent, after falling 1.9 percent in May 2024.

Doesn't bode well for a great recovery .....and govt not doing much infrastructure stuff either

Total consents residential and non-residential 28% less than June last year (and that's value)

Actually, my town planner contact tells me that housing starts are more critical than housing consents.

Many of the consented developments in 2021 to 2023 have not gone ahead and there are any number of sites around NZ sitting idle.

[BlackPeter]

Good gracious me ...Stats NZ says - In June 2024, the seasonally adjusted number of new dwellings consented fell 14 percent, after falling 1.9 percent in May 2024.

Doesn't bode well for a great recovery .....and govt not doing much infrastructure stuff either

Total consents residential and non-residential 28% less than June last year (and that's value)

On the other hand: Business Confidence in July took a huge leap upwards:

https://publications.anz.com/SingletrackCMS__DownloadDocument?uid=033428e6-47a9-4d0e-880f-cccea2640d6d&docRef=3c0e4465-5d5f-4d10-a0f9-dc460c79263a&jobRef=2998cfc6-ac5a-4bb9-8274-085c1a95f743

... and the good thing is that stock prices are not backwards but forwards looking!

Anyway a better way too drive ;

[winner (n)]

On the other hand: Business Confidence in July took a huge leap upwards:

https://publications.anz.com/SingletrackCMS__DownloadDocument?uid=033428e6-47a9-4d0e-880f-cccea2640d6d&docRef=3c0e4465-5d5f-4d10-a0f9-dc460c79263a&jobRef=2998cfc6-ac5a-4bb9-8274-085c1a95f743

... and the good thing is that stock prices are not backwards but forwards looking!

Anyway a better way too drive ;

[winner (n)]

STU share price been improving lately

Punters obviously think construction going to improve from here on in

Different view from what Fletchers indicated today .... Activity down and doubt if bottom of cycle been reached

No doubt Mark will tell us what's really going on next Monday

[Poet]

STU share price been improving lately

Punters obviously think construction going to improve from here on in

Different view from what Fletchers indicated today .... Activity down and doubt if bottom of cycle been reached

No doubt Mark will tell us what's really going on next Monday

Worldwide wholesale price of steel has been hammered recently so STU could be seeing some decent margin improvements

[Left Field]

Crikey.....they say a solid result!

https://www.nzx.com/announcements/436783

FY24 Performance and Results
 
 $m / FY24 / FY23 / Change
 
 Revenue / 479.1/ 589.1/ -18.7%
 
 Volume (Ktonnes) / 115.5 /146.4 / -21.1%
 
 GM$/tonne / 901 / 850 / 6.0%
 
 EBITDA / 31.4 / 51.9 / -39.5%
 
 Normalised EBITDA* / 35.8 / 52.9 / -32.3%
 
 EBIT / 9.6 / 31 / -69.0%
 
 Normalised EBIT* / 14.5 / 32.1 / -54.8%
 
 NPAT / 2.6 / 17 / -84.7%
 
 Net cash / 8.7 / 6.5 / 33.8%
 
 Net operating cashflow / 42.2 / 98.3 / -57.1%
 
 Full Year gross dividend (cents per share) / 8.3 / 11.1 / -25.2%
 
 Full Year gross dividend yield** (%) / 9.7% / 9.9% / -2.0%
 

[winner (n)]

Mark says not to worry ....all hunky dory

It's all about this graphic .....what a masterpiece

You cannot view this attachment.

[LoungeLizard]

Crikey.....they say a solid result!

https://www.nzx.com/announcements/436783

FY24 Performance and Results
 
 $m / FY24 / FY23 / Change
 
 Revenue / 479.1/ 589.1/ -18.7%
 
 Volume (Ktonnes) / 115.5 /146.4 / -21.1%
 
 GM$/tonne / 901 / 850 / 6.0%
 
 EBITDA / 31.4 / 51.9 / -39.5%
 
 Normalised EBITDA* / 35.8 / 52.9 / -32.3%
 
 EBIT / 9.6 / 31 / -69.0%
 
 Normalised EBIT* / 14.5 / 32.1 / -54.8%
 
 NPAT / 2.6 / 17 / -84.7%
 
 Net cash / 8.7 / 6.5 / 33.8%
 
 Net operating cashflow / 42.2 / 98.3 / -57.1%
 
 Full Year gross dividend (cents per share) / 8.3 / 11.1 / -25.2%
 
 Full Year gross dividend yield** (%) / 9.7% / 9.9% / -2.0%
 

Depends on how you look at it - bottom of the cycle in a prolonged recessionary environment, construction industry in the doldrums (FBU loss of $227m). So yes, to make a profit, keep cash in hand, no debt and pay a 9.7% FY gross dividend maybe not so bad?

[Greekwatchdog]

Depends on how you look at it - bottom of the cycle in a prolonged recessionary environment, construction industry in the doldrums (FBU loss of $227m). So yes, to make a profit, keep cash in hand, no debt and pay a 9.7% FY gross dividend maybe not so bad?

FBU loss was due to more write offs/downs. I wouldn't compare FBU result to STU