Morningstar - Ebos Group (EBO) Improving Cost Efficiency Supports Ebos Margins in a Highly Competitive Landscape

Report

Morningstar

Brian Han

EUR 100.00 For Business Accounts Only

Improving Cost Efficiency Supports Ebos' Margins in a Highly Competitive Landscape

We have transferred analyst coverage of narrow-moat-rated Ebos Group.
We maintain our current forecasts and the NZD 20 per share fair value estimate is unchanged (AUD 18 per share using an NZD/AUD exchange rate of 1.10). Shares in Ebos are currently trading around 12% above our intrinsic assessment.
We acknowledge the potential margin dilution the new My Chemist/Chemist Warehouse, or MC/CW, contract (commencing in fiscal 2019) may have on the group. However, the contract's approximate AUD 1 bill...

15/11/2018 13 EN

Underlying

Ebos Group

EBOS Group is a provider of medical and healthcare products to the human and animal markets. Co. operates in two business segments, being Healthcare, which incorporates the sale of healthcare products in a range of sectors, own brands, retail healthcare, wholesale activities, and logistics; as well as Animal Care, which incorporates the sale of animal care products in a range of sectors, own brands, retail and wholesale activities. Co.'s operations are primarily in New Zealand and Australia.

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NZEBOE0001S6 NZX New Zealand

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Brian Han

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Improving Cost Efficiency Supports Ebos' Margins in a Highly Competitive Landscape

EBOS Group: 1 director

EBOS GROUP sees an upgrade to Slightly Positive due to a better fundamental star rating

Monthly LMI Update Independent Investment Research

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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