Australian (ASX) Stock Market Forum

IVC - InvoCare Limited

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Miner said:
Gamestop meaning rise 2000 pc and then boom :)
Holdi
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IVC - Gamestop get a mention in this AFR article.

The Australian version of the now-notorious social media forum at the centre of the GameStop trading frenzy is cracking down on local attempts to organise a similar “market play”
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www.afr.com

Aussie Reddit traders shut down ‘short squeeze’ plot

The Australian version of the Reddit forum at the centre of the GameStop trading frenzy is cracking down on local attempts to organise a similar ‘market play’.
www.afr.com www.afr.com
 
One step forward 3 steps back. Real pain in the bum.

Report date from Morgans

Please DYOR


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IVC due to report in two days (24/2/21). I have no bias on this one. It could go either way. The number of deaths from flu has fallen 99% (guess). Funeral attendance has been capped for quite some time. The restrictions have been easing and will ease further now that the Covid vaccine is being distributed. Business outlook must improve.

I was tempted to buy the dip as price hit the 50-62% buy zone. I'm not convinced about a quick bounce back in this sector. As a longer term investment, hell yeah. What's the saying, as we get older our survival rate gets closer to zero. (ZeroHedge).

ivc2202.PNG
 
HY2021 FINANCIAL HIGHLIGHTS
• Statutory Revenue up 13% to $260.9 million
• Operating Revenue up 13% to $257.3 million
• Operating EBITDA up 31% to $63.6 million, with a return to positive operating leverage
• Operating EBIT up 46% to $39.4 million
• Reported Profit After Tax attributable to shareholders of InvoCare Limited of $44 million, compared to a Reported Loss After Tax of $18 million in the prior corresponding period (PCP)
• Continued positive improvement in capital management metrics with leverage ratio of 1.1x, strong cashflow conversion of 102% and ROCE r12 of 10.4%, up 1.8 points on FY20
• Operating EPS of 14.4 cents, up 57%
• Interim fully franked dividend of 9.5 cents per share

Outlook
The emergence of the COVID Delta strain in June 2021 and the associated government response in Australia is expected to lead to a softening of the funeral services sector once again in the second half of 2021, but the extent and persistence remain uncertain. On this basis we continue to not provide earnings guidance for the full year.

Notwithstanding the short-term headwinds, the Group remains confident about the long-term potential of the business, with future growth supported by population and ageing trends in its markets.
Mr Chretien said, “The persistent and sudden impacts of COVID restrictions on consumer confidence and our operating model, as evidenced in the past two months, will continue to restrict our businesses and people in realising the Group’s full potential, but our first half results demonstrate the strength of this organisation when conditions permit. I wish to thank our employees in Australia, New Zealand and Singapore for their exceptional commitment, care, and service to our client families, in what is a challenging and fast changing environment. Our focus will be on what we can control, and we remain extremely confident in our team’s capability and the Group’s potential in maintaining the momentum on this phase of our strategy of Raising the bar.”
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No more lockdowns and no more restrictions at funerals. It's time for death to get it's due.

The weekly chart (left) show the massive resistance at $12. Every time price got above, supply knocked it down. The recent corrective pattern has a shallow pull-back. Price is once more near $12.

The daily chart shows the recent corrective pattern has been done with decreasing volume. I think IVC is good to go.

ivc0411.PNG
 
peter2 said:
No more lockdowns and no more restrictions at funerals. It's time for death to get it's due.
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Invocare has rebounded to profitability in the 2021 financial year, driven by a robust recovery in its markets.

The company’s statutory revenue rose 11 per cent to $532.5 million while operating EBITDA was up 22 per cent to $125.5 million. Reported profit for the year was $80.2 million, rebounding from an $11.5 million loss a year ago.

Invocare said a recovery in the key value drivers of core operating earnings as well as a robust recovery in the mark-to-market valuation of prepaid funds under management (FUM) had driven the growth in profit.

- do you want fries with that?

11.5c FF dividend
 
Dona Ferentes said:
Invocare has rebounded to profitability in the 2021 financial year, driven by a robust recovery in its markets.

The company’s statutory revenue rose 11 per cent to $532.5 million while operating EBITDA was up 22 per cent to $125.5 million. Reported profit for the year was $80.2 million, rebounding from an $11.5 million loss a year ago.

Invocare said a recovery in the key value drivers of core operating earnings as well as a robust recovery in the mark-to-market valuation of prepaid funds under management (FUM) had driven the growth in profit.

- do you want fries with that?

11.5c FF dividend
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Looks like funerals are on the up, inside every cloud...

Screenshot 2022-02-28 210031.png


IDH
 
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Buying the dip in Invocare (IVC) as deaths are increasing due to letting the flu re-enter Aust. Also bought some PFP (Propel) to broaden my investment scythe.
 
peter2 said:
Buying the dip in Invocare (IVC) as deaths are increasing due to letting the flu re-enter Aust. Also bought some PFP (Propel) to broaden my investment scythe.
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I did same for covid and lost.
Like covid, flu just kill people who were going to die anyway,no material number for extra revenue,and less people attending funeral so reduced income...
Counterintuitive I know
 
Dona Ferentes said:
Private equity making an offer for IVC at $12.65
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.
The InvoCare FY22 result and last week’s post-results roadshow clearly didn't reveal anything in the numbers or the pitch to convince holders that InvoCare shares were headed above $11, let alone to $12.65, in the coming year or two.

TPG set out to acquire 10 percent and achieved a 17.85% stake, as acceptances piled in.
 
Dona Ferentes said:
Private equity making an offer for IVC at $12.65
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  • Private equity group TPG has officially withdrawn its $12.65 per share buyout proposal for Australia’s biggest funerals and crematoria group InvoCare.
  • TPG wants a seat on the InvoCare board because it owns almost 20 per cent of the shares, having put forward Genevieve Gregor as a nomination. She worked for Goldman Sachs for many years.
  • The InvoCare board said TPG had refused to sign a “customary” confidentiality agreement after it was offered only limited access to the InvoCare books.

....And down 17 per cent
 
i find it difficult to warm up to IVC , above $10 ( i bought PFP instead in 2020 )

at least the declared D/E is getting back to some sanity

if it drops below $9.90 at the end of the month i might be tempted to enter it in the May comp.

( after all, the only certainties in life are death and taxes , so the quote goes )

( and i already hold a couple of accounting firms )
 
FIRB Condition Satisfied for Proposed Scheme

InvoCare Limited (IVC:ASX) (“InvoCare”) refers to the proposed acquisition by Eternal Aus BidCo Pty Ltd ACN 669 053 258 (“TPG BidCo”), an entity ultimately owned by funds managed or advised by TPG Capital Asia (“TPG”) or its related entities, of all the issued capital of InvoCare which is not already held by it or its related entities, by way of a scheme of arrangement (“Scheme”).
InvoCare is pleased to announce that TPG BidCo has received written confirmation from the Foreign Investment Review Board (“FIRB”) that the Commonwealth Government has no objection to the coinvestment vehicles (and /or the limited partners thereof) and other entities affiliated with TPG BidCo acquiring an interest in InvoCare pursuant to the acquisition of InvoCare Shares in accordance with the Scheme.
The receipt of the 'no objection letter' from FIRB satisfies the condition precedent in clause 3.1(a)(i) of the Scheme Implementation Deed (“SID”) between InvoCare and TPG BidCo, a copy of which was released to the ASX on 9 August 2023.
The implementation of the Scheme remains subject to certain other conditions, including approval of InvoCare Shareholders at the Scheme Meeting, court approval, and the satisfaction or waiver (where capable of waiver) of certain other customary conditions as outlined in clause 3.1 of the SID.1 Unless otherwise indicated, capitalised terms used in this announcement have the meaning given to them in the Scheme Booklet dated 22 September 2023.

InvoCare Board Unanimous Recommendation

The InvoCare Board continues to unanimously recommend that InvoCare Shareholders vote in favour of the Scheme Resolution in the absence of a Superior Proposal and subject to the Independent Expert continuing to conclude that the Scheme is in the best interests of InvoCare Shareholders.
Subject to the same qualifications outlined above, each Director of the InvoCare Board intends to vote all of the InvoCare Shares in which they have a relevant interest in favour of the Scheme.
The InvoCare Board makes this recommendation only in respect of the Cash Consideration and makes no recommendation in relation to the Scrip Consideration.

i do not hold this share
 
On November 27th, 2023, InvoCare Limited (IVC) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between IVC and its shareholders in connection with the acquisition of all the issued capital in IVC by Eternal Aus BidCo Pty Ltd.
 
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