Marco Polo Marine
Marco Polo Marine
A reputable regional integrated marine logistics company which principally engages in shipping and shipyard businesses. Tapping on its core expertise in the shipping industry, the Group is pivoting to the renewables sector, providing customized solutions in the chartering, development, fabrication, and construction of bespoke renewable energy assets for its customers.
FY2022 Results Announcement
Est 15 Feb 2023
Common FAQ
Responses to questions received from AGM 2020
Responses to questions received from AGM 2021
SGX 10 in 10
SGX 10 in 10 as at July 2021
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Investment Merits
- Attractive valuation. Assets are primarily backed by hard assets including cash and PPE. The Group owns a shipyard in Batam (occupying more than 34 ha of land area) as well as 12 OSVs, 2 MWVs and 21 tug and barges.
- Deep value affirmed by savvy investors and industry veterans- coming in at an average cost of about S$0.032
- Strong net cash position of S$50.3 million as at 30 Sep 2022.
- Turnaround efforts bear fruits as the Group turns EBITDA positive.
- Pivoting to renewables to increase utilization and boost profitability
In The News
- Business Times: Brokers’ take: RHB raises Marco Polo Marine target on expectations of rising charter rates
- The Edge: Marco Polo Marine’s former executive chairman to purchase 121.8 mil shares in the company at 3.3 cents apiece
- Straits Times: Marco Polo Marine Q3 revenue up 140% on shipyard, ship chartering growth
- The Edge: RHB Contiune to ‘buy’ Marco Polo Marine as it ventures into renewable energy
- Business Times:B rokers’ take: RHB initiates ‘buy’ on Marco Polo Marine on forecast renewable energy turnaround
- The Edge: RHB initiates coverage of Marco Polo Marine with “buy” call and 4.1 cents target price
- The Edge: Marco Polo Marine to boost ship repair capacity by up to 20% with dry dock extension
- Business Times: Marco Polo Marine to acquire majority stake in PT BBR to strengthen foothold in Indonesia
- The Edge: Marco Polo Marine’s earnings triple to $5.95 million in 1HFY2021
Research
Marco Polo Marine CONSENSUS
| Brokerages | Report | Analysts | Recommendation | TP |
|---|---|---|---|---|
| UOB Kayhian | Heidi Mo | HOLD | 0.048 | |
| RHB Capital | Alfie Yeo | BUY | 0.06 | |
| CGS CIMB | Lim Siew Khee/Izabella Tan | NON-RATED | ||
| SAC Capital |
Lim Shu Rong |
BUY | 0.032 |
* Refer to the Archive table below to view Marco Polo Marine’s past analysts reports.
Archive
Stock Information
| Price | 0.047 |
|---|---|
| Market Cap (SGDm) | 156 |
| YE | 9/30/2022 |
| Free Float % | 44.6% |
Key financial highlights
| Key Highlights | 2020 | 2021 | 2022 |
|---|---|---|---|
| Revenue (SGD m) | 30.8 | 46.1 | 86.1 |
| EBITDA | (1.9) | 10.0 | 24.2 |
| Net Profit | (9.2) | 14.8 | 22.0 |
| Adjusted Net Profit | (8.9) | 3.0 | 13.8 |
| Net D/E | -13.6% | -14.0% | -33.2% |
*Excludes one off gains from reversal of impairment loss on receivables, one – off gains arising from remeasurement of previously held equity interest, bargain purchase and acquisition of debt