- ComfortDelGro (SGX:C52) said its Australian subsidiary, ComfortDelGro Corp Australia (CDCA), through its subsidiary CDC Victoria, has secured 3 franchises within the Victorian Department of Transport and Planning’s Metropolitan Zero Emission Bus (ZEB) Franchises tender process. See ComfortDelGro's announcement dated 04 Sep.
Worth around AUD1.6b over 10-year term
- - Read this at SGinvestors.io -
- Together, the contracts comprise 250 public bus and school routes, serviced by over 360 buses.
- Assuming 6% EBIT margin and a corporate tax rate of 30%, we estimate the incremental profit contribution at about S$5.9m pa on a full year basis.
Books one-off gain from sale of depots in 3Q25
- - Read this at SGinvestors.io -
- The transaction will also give rise to a one-off gain of S$14m, to be booked at 3Q25. The proceeds from the transfer of these three existing depots will be redeployed within the Australian business for further investment, capex and/or repayment of existing debt facilities.
Building on recent tender success Down Under
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Eric Ong Maybank Research | https://www.maybank-ke.com.sg/ 2024-09-04
Previous report by Maybank:
2024-08-14 ComfortDelGro - Back On Track; Stronger Sequential Earnings In 2Q.
Price targets by 5 other brokers at ComfortDelGro Target Prices.
Listing of research reports at ComfortDelGro Analyst Reports.
Relevant links:
ComfortDelGro Share Price History,
ComfortDelGro Announcements,
ComfortDelGro Dividends & Corporate Actions,
ComfortDelGro News Articles
