• Steven Reiman
    $SAEX guiding ~$50M of EBITDA in 2014 - lop off another $12M for interest expense and $10M for tax gets you to $28M of FCF
    3/19/14
    Reply (5)
    • Steven Reiman: On a 128M market cap that gets you to a 22% yield. Too cheap given the levers they can pull to increase FCF (refinance, grow in Africa etc.)
      3/19/14
    • Steven Reiman: EBITDA margin guidance was a bit disappointing however
      3/19/14
    • jaginger: Steve, what do you expect maintenance cap-ex to be? I believe they won't need growth cap-ex, but we should deduct a bit for maintenance, no?
      3/19/14
    • Steven Reiman: I would think it would be relatively de-minimus. Really just paying for new batteries and such. All of their equipment is brand new.
      3/19/14
    • HFI: I wish I bought more at 7. Looks like 14 by next year.
      3/19/14