External broker reports(aggregated public sources), Moelis Australia Ltd

MA Moelis Australia

External broker reports(aggregated public sources)

Moelis Australia Ltd

We are an ASX-listed financial services firm specialising in asset management, lending, corporate advisory and equities. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Nuix Pty Ltd operates as atechnology company. The Company offers software platform for indexing, searching, analyzing, and extracting knowledge from unstructured data that includes digital investigation, cybersecurity, e-Discovery, information governance, and email migration and privacy. Nuix serves customers worldwide.

<ul><li>The refined outlook for Nuix's FY25 Annualised Contract Value (ACV) growth towards the lower end the range is not a surprise.</li><li>At the presentation of 1H25 results in February, management recited their guidance for 11-16% ACV growth during FY25.</li><li>However, Nuix also observed that the operating environment has become less predictable. Customers have taken longer to commit to new contra</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The refined outlook for Nuix's FY25 Annualised Contract Value (ACV) growth towards the lower end the range is not a surprise.At the presentation of 1H25 results in February, management recited their guidance for 11-16% ACV growth during FY25.However, Nuix also observed that the operating environment has become less predictable. Customers have taken longer to commit to new contraContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The Environmental Group Limited supplies gas and vapor emission control systems, water treatment systems and engineering services to a variety of industries. The Company provides flaring systems for disposal of gases from offshore rigs and plants, provides low emission burners and combustion systems, water treatment and purification and other environmental control services.

<div><div><div><div><ul><li>EGL has announced the acquisition of industrial boiler service and manufacturing business Advanced Boilers &amp; Combustion Pty Ltd for $5.5m.</li><li>Advanced Boilers is a leading domestic industrial boiler service and manufacturing business, established in 2006.</li><li>In FY24, Advanced Boilers generated revenue of $16m and normalised EBITDA of $1.6m. </li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

EGL has announced the acquisition of industrial boiler service and manufacturing business Advanced Boilers &amp; Combustion Pty Ltd for $5.5m.Advanced Boilers is a leading domestic industrial boiler service and manufacturing business, established in 2006.In FY24, Advanced Boilers generated revenue of $16m and normalised EBITDA of $1.6m. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The Environmental Group Ltd - Acquisition of Advanced Boilers & Combustion

GenusPlus Group Ltd provides power and telecommunications solutions. The Company offers power solutions, telecommunications infrastructure, and technical services. GenusPlus Group serves customers in Australia.

<ul><li>GNP has announced the acquisition of rail safety systems provider MGC Group Holdings Pty Ltd for upfront cash consideration of $10.25m and up to $10.5m in contingent earnout payments.</li><li>The upfront consideration implies a multiple of 2.6x normalised FY24 EBITDA. CY25-27 EBITDA targets to achieve earn outs have been set at $6m, $7.5m, and $9m, respectively.</li><li>MGC is a WA based specialist provider of safety critical rail systems including overhead line equipment, signalling, electrical, and communications to tier 1 clients in the mining and freight sectors. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

GNP has announced the acquisition of rail safety systems provider MGC Group Holdings Pty Ltd for upfront cash consideration of $10.25m and up to $10.5m in contingent earnout payments.The upfront consideration implies a multiple of 2.6x normalised FY24 EBITDA. CY25-27 EBITDA targets to achieve earn outs have been set at $6m, $7.5m, and $9m, respectively.MGC is a WA based specialist provider of safety critical rail systems including overhead line equipment, signalling, electrical, and communications to tier 1 clients in the mining and freight sectors. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

GenusPlus Group Ltd - Acquisition of MGC Group Holdings

Carnaby Resources Ltd provides mining services. The Company offers mineral exploration, project development, and finance services. Carnaby Resources serves customers in Australia.

<ul><li>Financial results for developers like CNB tend to be of limited significance.</li><li>The variance in EBITDA and Adjusted NPAT was primarily due to marginally higher corporate costs and share- based payments.</li><li>Cash differed from our estimates (and the balance reported in the December quarter 5B), with the $3m transfer to term deposits, linked to the binding Asset Sale Agreement for Trekelano (held in escrow until completion) and not reflected as an investing cash outflow in the December quarterly report.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Financial results for developers like CNB tend to be of limited significance.The variance in EBITDA and Adjusted NPAT was primarily due to marginally higher corporate costs and share- based payments.Cash differed from our estimates (and the balance reported in the December quarter 5B), with the $3m transfer to term deposits, linked to the binding Asset Sale Agreement for Trekelano (held in escrow until completion) and not reflected as an investing cash outflow in the December quarterly report.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Carnaby Resources Ltd - 1HFY25 Result: Looking to Pre-Feasibility Studies in 3Q 2025

Supply Network Limited provides after sales service for the commercial vehicle (truck, bus and coach) market.  The Company provides these services through its branches in Australia and New Zealand.

<ul><li>Solid result, as expected. No headline surprises as SNL had pre-released its headline numbers in late January.</li><li>Revenue was $171.2m (+18% pcp) with the 2H24 growth rate continuing into 1H25.</li><li>Underlying EBITDA was $33.6m (+24% pcp), underlying PBT was $27.6m (+29% pcp) and underlying NPAT was $19.4m (+29% pcp). </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Solid result, as expected. No headline surprises as SNL had pre-released its headline numbers in late January.Revenue was $171.2m (+18% pcp) with the 2H24 growth rate continuing into 1H25.Underlying EBITDA was $33.6m (+24% pcp), underlying PBT was $27.6m (+29% pcp) and underlying NPAT was $19.4m (+29% pcp). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Supply Network Limited - Consistent Strong Growth Continues