Knobby22
Mmmmmm 2nd breakfast
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I like the cash sitting there also.
This result a bit flat, but not priced as a growth stock.
SXE - Southern Cross Electrical Engineering
- Thread starter Joe Blow
- Start date
This result a bit flat, but not priced as a growth stock.
galumay
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Yup, result was a bit flat, maybe Mr Market had higher expectations. I still think its cheap. REH result was similar, and it went up nearly 20%, crazy!
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well given the net-zero uncertainty , i bet several customers are looking at options , several miners changed their power source to gas , but what next
sure SXE will do fine in the long run ( unless mining in Australia collapses completely )
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SXE made a 12 month high today. It's still below my estimate of value, and I'm sure galumay's, given a flat fy24 is a reasonable expectation which would mean a 10-11% ROE on a fy23 book value of 0.70. Management has tipped growth in fy25 but who knows what will have happened by then. However I still give the chart a much diminished but slim chance of retracing to 0.85 where I have an old bid waiting. Not that I'd bet money on that.
Held and Holding
DAILY
Held and Holding
DAILY
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SXE says they're bidding on half a billion dollars worth of data centre contracts - just at pipeline stage. Says the field is growing exponentially from developments in cloud and A.I. Has just announced a contract award from NextDC. Share price down 4%.
Held and Holding
Held and Holding
galumay
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Mr Market is a capricious idiot!
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In would like to get into SXE, but always a little wary of something at 52 week highs, especially if the management is predicting it to be flat for next year.
But the dividend yield is attractive.
I have followed @finicky s lead and put a low ball bid in at 87.
Mick.
But the dividend yield is attractive.
I have followed @finicky s lead and put a low ball bid in at 87.
Mick.
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Data Centres and Buildings awards circa $50m
• Awards received totalling circa $50m
• Range of projects including extensions at two data centres
Contracts awards Southern Cross Electrical Engineering Limited (“SCEE Group”) is pleased to announce that its Heyday subsidiary has been awarded extensions at two data centres in New South Wales and a range of buildings projects in the ACT, totalling circa $50m as follows:
• Heyday has been awarded by Multiplex Constructions Pty Ltd the electrical design and construct works for Separable Portion 17 – Stage 1 Phase 2 at the NEXTDC SYD03 Artarmon NSW Data Centre.
The scope of the package includes the fit-out of Level 2 HVSB-C String Supplies and Level 6 BE-BH, Level 7 CA-CD, and Level 8 CE-CH Power System Modules, together with associated 33kV cabling reticulation, installation of client-supplied transformers, High Voltage and Low Voltage switchboards, generators, and Rotary-UPS units.
The new Power System Modules extend services to Hyperscale Data Halls 6A, 7A and 8A, covering data-rack, general lighting, electrical and structured cabling infrastructure, submain supplies, the over-the-rack busway systems, and mechanical fan wall systems.
This contract marks the fifth substantial award to Heyday at the NEXTDC SYD03 Data Centre with completion expected by March 2026.
• In NSW, Heyday has been awarded by J Hutchinson Pty Ltd the Phase 2 Works at a data centre project in Sydney’s West, following on from their existing contract for the Base Building and Phase 1 Works. Phase 2 includes the extension and integration of the Phase 1 infrastructure services, including HV cable reticulation and communications systems, with and the installation of the Phase 2 specific systems, which include the installation of client supplied HV Ring Main Units, transformers, LV switchboards and generators, along with the supply and installation of cable containment, LV reticulation, lighting, and power systems.
The works will commence in Q2 of 2024 and are scheduled to complete in Q4 of 2024.
• Heyday ACT has been awarded a design and construct contract for electrical, communications and security services for the John Gorton Campus Carpark (“JGCC”) project from Barpa Pty Ltd. The JGCC project is a five-storey building incorporating a structured carpark and a 170-place childcare centre located adjacent to the John Gorton Building Campus within the Parliamentary Triangle in Parkes, ACT.
The project includes 16 x 22kW Electric Vehicle chargers, with capacity for an additional 44 future chargers, fed via a dedicated chamber substation. The carpark includes 1,100 parking spaces with CCTV coverage, illuminated glazed external stairwells, and is 2 surrounded by open public spaces with extensive lighting and power provision for community and cultural special events.
• Heyday ACT has been awarded the electrical and communications contract for the ANU University House project from Hindmarsh Constructions Australia Pty Ltd. University House is an existing heritage-listed building within the ANU Acton Campus damaged in a weather event in 2020 which has brought forward this refurbishment project.
Heyday’s scope includes the supply and install of low voltage switchboards, submains upgrade, sub-circuit reticulation, EMS metering, internal and external lighting, general power and communications throughout the building’s student accommodation areas and communal spaces.
Work is scheduled to complete late in 2025.
• Again in the ACT, Geocon Constructors (ACT) Pty Ltd have awarded Heyday ACT the design and construct contract for electrical and communication services for the Allara Street development located within Canberra City.
This comprises 325 apartments across three multistorey towers with two carpark basement levels and shared common spaces.
The project has commenced and is expected to complete in late 2025. Comment Commenting on the above, SCEE Group Managing Director Graeme Dunn said “Only last month we announced our fourth award at NEXTDC’s Artamon Data Centre and this new award at that location further demonstrates the track record for delivery that Heyday has in this fast-growing sector.
I am also pleased with the steady flow of projects that their Canberra business wins, driven in particular by their longstanding relationships with educational and government clients and, more generally, by the strong and sustained population growth in that region.”
Authorised for release by Graeme Dunn – SCEE Group Managing Director
i hold SXE ( am up roughly 100% currently )
• Awards received totalling circa $50m
• Range of projects including extensions at two data centres
Contracts awards Southern Cross Electrical Engineering Limited (“SCEE Group”) is pleased to announce that its Heyday subsidiary has been awarded extensions at two data centres in New South Wales and a range of buildings projects in the ACT, totalling circa $50m as follows:
• Heyday has been awarded by Multiplex Constructions Pty Ltd the electrical design and construct works for Separable Portion 17 – Stage 1 Phase 2 at the NEXTDC SYD03 Artarmon NSW Data Centre.
The scope of the package includes the fit-out of Level 2 HVSB-C String Supplies and Level 6 BE-BH, Level 7 CA-CD, and Level 8 CE-CH Power System Modules, together with associated 33kV cabling reticulation, installation of client-supplied transformers, High Voltage and Low Voltage switchboards, generators, and Rotary-UPS units.
The new Power System Modules extend services to Hyperscale Data Halls 6A, 7A and 8A, covering data-rack, general lighting, electrical and structured cabling infrastructure, submain supplies, the over-the-rack busway systems, and mechanical fan wall systems.
This contract marks the fifth substantial award to Heyday at the NEXTDC SYD03 Data Centre with completion expected by March 2026.
• In NSW, Heyday has been awarded by J Hutchinson Pty Ltd the Phase 2 Works at a data centre project in Sydney’s West, following on from their existing contract for the Base Building and Phase 1 Works. Phase 2 includes the extension and integration of the Phase 1 infrastructure services, including HV cable reticulation and communications systems, with and the installation of the Phase 2 specific systems, which include the installation of client supplied HV Ring Main Units, transformers, LV switchboards and generators, along with the supply and installation of cable containment, LV reticulation, lighting, and power systems.
The works will commence in Q2 of 2024 and are scheduled to complete in Q4 of 2024.
• Heyday ACT has been awarded a design and construct contract for electrical, communications and security services for the John Gorton Campus Carpark (“JGCC”) project from Barpa Pty Ltd. The JGCC project is a five-storey building incorporating a structured carpark and a 170-place childcare centre located adjacent to the John Gorton Building Campus within the Parliamentary Triangle in Parkes, ACT.
The project includes 16 x 22kW Electric Vehicle chargers, with capacity for an additional 44 future chargers, fed via a dedicated chamber substation. The carpark includes 1,100 parking spaces with CCTV coverage, illuminated glazed external stairwells, and is 2 surrounded by open public spaces with extensive lighting and power provision for community and cultural special events.
• Heyday ACT has been awarded the electrical and communications contract for the ANU University House project from Hindmarsh Constructions Australia Pty Ltd. University House is an existing heritage-listed building within the ANU Acton Campus damaged in a weather event in 2020 which has brought forward this refurbishment project.
Heyday’s scope includes the supply and install of low voltage switchboards, submains upgrade, sub-circuit reticulation, EMS metering, internal and external lighting, general power and communications throughout the building’s student accommodation areas and communal spaces.
Work is scheduled to complete late in 2025.
• Again in the ACT, Geocon Constructors (ACT) Pty Ltd have awarded Heyday ACT the design and construct contract for electrical and communication services for the Allara Street development located within Canberra City.
This comprises 325 apartments across three multistorey towers with two carpark basement levels and shared common spaces.
The project has commenced and is expected to complete in late 2025. Comment Commenting on the above, SCEE Group Managing Director Graeme Dunn said “Only last month we announced our fourth award at NEXTDC’s Artamon Data Centre and this new award at that location further demonstrates the track record for delivery that Heyday has in this fast-growing sector.
I am also pleased with the steady flow of projects that their Canberra business wins, driven in particular by their longstanding relationships with educational and government clients and, more generally, by the strong and sustained population growth in that region.”
Authorised for release by Graeme Dunn – SCEE Group Managing Director
i hold SXE ( am up roughly 100% currently )
galumay
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Its not insignificant either, $50m is about 10% of current Revenue.
Also a hodler.
Also a hodler.
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yes times are tough ( for business )
but this is about what i would have expected from a company in this niche , data centres are hot , as is any way to save emissions/power bills , this is their moment in the sunlight if they can embrace it , properly
( mining power station upgrades , better lighting in other businesses and the odd on-roof solar )
i would argue this is about as good as it gets , without buying companies , not aligned to the core-business
Knobby22
Mmmmmm 2nd breakfast
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It all depends on how well the manage the projects. I reckon they must have a good team. New highs
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good teams can only do so much , and yes they are doing OK
but what if the customers start folding ( or cancelling projects )
but what if the customers start folding ( or cancelling projects )
galumay
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Better to be an optimist, what if they get more customers and new projects?
More to the point is that all businesses go thru good patches and bad patches, there are always external factors beyond the companies control, thats why I believe its important to ignore macro, sector economics, cycles, etc and focus on owning resilient businesses with a long operating history, low debt, good capital allocation, high ROIIC & persistent profits. (all the things in the company's control)
More to the point is that all businesses go thru good patches and bad patches, there are always external factors beyond the companies control, thats why I believe its important to ignore macro, sector economics, cycles, etc and focus on owning resilient businesses with a long operating history, low debt, good capital allocation, high ROIIC & persistent profits. (all the things in the company's control)
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i ( nearly ) always stay cautious , there is ( probably ) no more big cash injections coming ( for me )
yes they are doing OK with the things they can control , but their business is being the meat in the sandwich between the big corporations that extract the resources , and those that use the resources
much like my paper-boy days ( i didn't print the paper , and don't buy it ) ,
it was awesome when i was selling it , but times have changed
galumay
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In my experience, thats a sweet spot to be in!
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it can be , but some find a lot of trouble , at times
i remember a Warren Buffet quote , about buying a business so strong even an idiot can run it ......
sadly that has been more accurate than i would like it to be , the buying cheap was good , but the long waits for a recovery are often painful
galumay
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Oh, I reckon you have done much better than average with your buying cheap and waiting patiently. You have shown yourself to be an exceptional investor over a significant period of time.
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i have been very lucky , a good investor , picks a good target and holds and builds on the position
my skill is knowing when i have been lucky , and then reduce the cash risk letting the profits run ( and often compound via the DRP )
take RCG as an example , ( now AX1 ) , it was bought as a hybrid to harness the health and fitness trend mixed with retail ( but not the risk of over-regulation of a true medical/pharmaceutical/bio-tech company ), now RCG was a good company , but later much better management moved in . ( that management change was lucky for me , and the company )
also i am not bad at sensing an unattractive turn in the business direction ( and go for the exit ) ( but still get caught with some flea-bags like CCE and RFX )
but basically i play a numbers game , some will fail ( and some have ) some will get taken-over ( and some have ) and some will survive ( and i usually rescue the cash investment from the multi-baggers ( not so hard to do with the small caps especially if they grow to mid-caps or even large caps )
the other unusual tactic was i gave myself a ten-year time frame , so i knew i had to be carefully aggressive , and knowing when to abandon shares like BLD and ORG when still in profit
now the real test of my portfolio will be the next big crash ( i started after the GFC , and 2020 was screwed up by all the bail-outs and easy credit )
that will be the true test , when managements will have to dig deep , and blow out the rust and bloat
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REQUEST FOR TRADING HALT
Southern Cross Electrical Engineering Limited (ASX: SXE) hereby requests an immediate trading halt in respect of its securities.
The trading halt is requested pending the announcement of a material project award.
The Company requests that the trading halt remain in place until the earlier of the time the Company makes an announcement in relation to the award or the commencement of trading on Monday 6 May 2024.
The Company is not aware of any reason why the trading halt should not be granted.
There is no other information necessary to inform the market about the trading halt.
Yours sincerely
i hold SXE
Southern Cross Electrical Engineering Limited (ASX: SXE) hereby requests an immediate trading halt in respect of its securities.
The trading halt is requested pending the announcement of a material project award.
The Company requests that the trading halt remain in place until the earlier of the time the Company makes an announcement in relation to the award or the commencement of trading on Monday 6 May 2024.
The Company is not aware of any reason why the trading halt should not be granted.
There is no other information necessary to inform the market about the trading halt.
Yours sincerely
i hold SXE
