Edison Investment Research - Future Mobility Solution (FMS) Update: Refocused and delivering

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Edison Investment Research

Update: Refocused and delivering

Sealegs has demonstrated that its refocus on fitting its technology to original equipment manufacturer (OEM) hulls is working. The company reported a significant turnaround in operating performance in FY16, with normalised NPAT of NZ$589,000, its first profit in three years and well ahead of our forecast for NPAT of NZ$115,312. On a 12-month forward P/E of 157x, Sealegs is trading at a 16% discount to its peers.

11/07/2016 6 EN

Underlying

Future Mobility Solution

Future Mobility Solutions is engaged in the manufacture of amphibious marine craft. Co.'s operations are conducted in New Zealand.

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NZIGVE0001S1 New Zealand

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Update: Refocused and delivering

Global platform strategy starts to pay

Ford Equity International Rating and Forecast Report

AGBA - A transformational deal

Biodexa Pharmaceuticals - In a period of transition

Norcros - Sale of Johnson Tiles UK agreed

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