Fair Value Estimate for No-Moat Seven Group Helped Along by Beach Energy Upgrade.
We increase our fair value for no-moat Seven Group by 5.5% to AUD 16.25 from AUD 15.40. Chief among drivers is a 15% increase in our Beach Energy fair value to AUD 2.25 per share, discussed in our July 8, 2019 Beach Energy note “We Increase our FVE for No-Moat Beach to AUD 2.25 with Potential for Further Gains Remaining.†Seven Group has a 25.6% stake in Beach and its equity share of the fair value uplift is worth around AUD 0.50. Other contributors include time value of money, as well as the fa...Seven Group Holdings has six segments: WesTrac Australia, which provides heavy equipment sales and support to customers in Australia; WesTrac China, also providing heavy equipment sales and support in Hebei, Liaoning, Heilongjiang, Jilin, Shanxi, Inner Mongolia and the municipalities of Beijing and Tianjin; AllightSykes, engaged in the manufacture, assembly, sales and support of lighting, FG Wilson power generation and dewatering equipment as well as distribution of Perkins engines; Coates Hire, which is an equipment hire company; Media Investments, which relates to investments in listed and unlisted media organizations; Energy; and Other investments.
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