ComfortDelGro - Maybank Research 2024-09-04: Wins 3 Bus Franchises In Australia; Gaining Momentum

ComfortDelGro - Wins 3 Bus Franchises In Australia; Gaining Momentum

Published:
ComfortDelGro (SGX:C52) | SGinvestors.ioComfortDelGro (SGX:C52)
  • 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



Read also Maybank's most recent report:
2024-11-15 ComfortDelGro - Take A Break.

Previous report by Maybank:
2024-10-25 ComfortDelGro - On The Move; Another Acquisition In The UK .

Price targets by 4 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





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