Some notes from Piteco conference call:
1) Signed 32, 37 and 40 new costumers in 2017, 2018 and 2019. In jan+feb 2020 alone they signed 14 !!! Even including march+april (corona) they think they will get to 35-40 for full year. Was on track to +50 before Corona.
1) Signed 32, 37 and 40 new costumers in 2017, 2018 and 2019. In jan+feb 2020 alone they signed 14 !!! Even including march+april (corona) they think they will get to 35-40 for full year. Was on track to +50 before Corona.
… They will keep growing in 2020. Revenue is recurring revenue. He says their costumers are +100 mio. EUR costumers. He dont think any would go down due to Corona. Most paid all 2020 fees upfront in jan 2020 so no credit risk for Piteco....
… Myrios growth was 28 % in 2019 with a 70 % EBITDA margin (adjusted). They paid (including all earn out) a 8,1 x multiple for this business. Shows the amazing capital allocation of Marco and the team.
Will due more lucrative M&A in the future....
Will due more lucrative M&A in the future....
… Myrios has full order book and capacity limits. Cant take on more growth (big interest from costumers). They will go into Germany after Swizz market later in 2020.
LendingTools in the US signed a big bank with 300+ costumers that will go live H2 2020....
LendingTools in the US signed a big bank with 300+ costumers that will go live H2 2020....
…. They bought 2 % of shares outstanding in buyback "this was just an amazing opportunity". Will continue to do so at this low stock price.
This stock trades at 9-10 x FCF and 11 x EV/FCF
Its amazing for a recurring businesses with +40 % margins and 5-10 % organic growth. !!!!
This stock trades at 9-10 x FCF and 11 x EV/FCF
Its amazing for a recurring businesses with +40 % margins and 5-10 % organic growth. !!!!
