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Adi Soglowek

Follow @pbcinc

1 Sep, 8 tweets, 1 min read

$SHVA.TA 1St H Notes.

May 2021 Apple Pay iOS launched with strong acceptance and usage.
Online Transactions are increasing.
Domestic Tourism (Covid-19 days) provides a backwind.

Change in leadership is going well (we are excited by what our Scuttlebutt finds).
Transactions: 870 (757) ⬆️ ~15%
ATM: 54,653 (49,532) ⬆️ ~10%

All business disputes with Isracard are settled.
6M P&L: Revs: 53,122 (40,751) ⬆️ Stong 30%
Op Profit: 23,667 (16,074) ⬆️ V. Strong 47%
EPS: 0.53 (0.26)
CFO: 12,439
Cash&Eq: 162,517 (136,802) ⬆️ ~19%
✅Company reinvesting toward future growth ⬆️19.3% and important.

Israel is undergoing, like elsewhere, rapid digitization catching up to what is considered the norm elsewhere. In addition to this backwind, we expect to see the new management bring to market additional solutions and services dearly needed.

We are long and expect to remain so for the next decade.

We are also not recommending this stock for people who do not like to think for themselves, So DYODD!

Hope this helps!

I'll just add here that while $SHVA.TA is printing 52WH today, it's pe is about HALF that of $TASE.TA (Israel's sole stock exchange), another good (but not as good) business. If you had any misconceptions about the market being "rational"!

$SHVA.TA 20.00.

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More from @pbcinc

Adi Soglowek

@pbcinc

11 Aug

Stay tuned as I am about to tell you of an incredible up-and-coming Marketplace in North America no one noticed. It's a highly profitable innovative unit econ growing microcap tackling a massive opportunity. I think it's a double short-term and 10Bagger material.

1. Powerband Solutions ($PBX.V) is an under-the-radar, Second-hand US Car marketplace platform Canada traded microcap already on its way offering a conservative 100% upside in 2 years for smart investors paying attention.

2. The business seems to have just passed its inflection point with what seems like a viral hockey stick like revenue, adoption patterns (Revs up 31% m/m Y2D above 10M CAD July 2021 at Gross margin of ~52%) with the platform closing fast on Breakeven and funding from Ops CFs.

Read 19 tweets

Adi Soglowek

@pbcinc

31 May

$SHVA.TA 1Q21 result for a Covid restrictions TL;DR: EMV POS recurring revs generate strong Rev growth in spite of a slight decrease in transaction numbers (q/q), Despite continued investments, profit surges. Now, what happens with a fully functioning economy? ...1

Q Card Debit actions ⬇️ by 1M (396/397), ATM 25,767/26,569). However, the transition to higher monthly priced EMV POS generated Q 26,547KNIS (21,188) ⬆️ 25%.

Op expenses 14,928 (12,461) ⬆️ 19.7% on personnel employed to execute strategic plan + some professional services ...2

Operating profit (what really matters here) 11,619 (8,727) ⬆️ 33% in spite of reinvestments. (43% of Revs).

What does it mean? Well, $SHVA.TA never stops working as the most important merchants transactions infra. POS upgrade not done yet, expect more lift. ...3

Read 9 tweets

Adi Soglowek

@pbcinc

24 Mar

$EFCN.TA is a tiny Israeli high ROI capital allocation story, vast TAM, Global #fintech monster in the making, led by a capable, shareholder-friendly, first-class Owner Operator team offering potential 26% - 30% returns pa for investors.

A thread.

#עפנכ

1 The alternate Financing business is an interesting sector at least in Israel. Structural, Policy, Business, and Historical reasons make businesses here very interesting. Briefly, these guys have first cut of the best short term credit needs of successful entrepreneurs needing>

quick response time and ingenuity to fund short-term credit needs until the Banks can step in. They fund Ultra High Return projects with service the Banks cant respond to in time and charge for it well.

Read 16 tweets

Adi Soglowek

@pbcinc

4 Feb

$CDON FY 2020 thread.

1) TL:DR: Extremely early days. The budding 3P marketplace is growing like weed > 80%. Management understands the opportunity and, more importantly, what needs to be done to make it. The selloff was a great entry opportunity for those who paid attention.

2) 3P marketplace growth >80% is a very strong performance, doubling the market growth rates. What is even more important at this stage is to answer the question, does management understand the opportunity and can be trusted in its capital allocation. With a high-quality business

3) Such as a Marketplace, the true value of the asset will reveal itself further down the line, making the residual the true source of valuation but only IF management can allocate capital into opportunities that will generate future growth.

Read 13 tweets

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