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SYM - Symbio Holdings

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Re: MNF - My Net Fone

Is anyone following MNF? Its had a stellar calendar year now at $1.00, the New Zealand based Pie Funds Management bought around 3.5 million shares at $0.73.

MNF have completing a few goods M&A's in the past 6 months and landed a $20 million contract with the Tassie Government.
 
Re: MNF - My Net Fone

MNFs.gif
 
Anyone been following this stock. Not much comment over last 4 years. I bought some in the high $3 range, I don't recall what inspired me at the time just prior to xmas 18. I think it was something on the now defunct Channel 95 Money show.
 
jbocker said:
Anyone been following this stock. Not much comment over last 4 years. I bought some in the high $3 range, I don't recall what inspired me at the time just prior to xmas 18. I think it was something on the now defunct Channel 95 Money show.
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Yep i waited to long and missed the recent sweet low...
 
jbocker said:
This tech may well prove itself in a potentially increasing world of remote access collaboration and conferencing. The outlook remains unchanged, as demand increases during the current crisis.
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As a provider of voice, data, and cloud based communication and communication enablement services to residential, business, government and wholesale customers in Australia and internationally, MNF operates a global Smart Network carrying over 6 billion voice minutes per annum, with Points of Presence (POPs) in Los Angeles, New York, Hong Kong, Singapore, London, Frankfurt, Sydney and Auckland.

A month ago,
the company reaffirmed its stated FY2020 EBITDA guidance of $36.0 million to $39.0 million.
MNF acknowledges that the situation is evolving rapidly and currently there is strong demand for MNF’s services, but the external environment remains uncertain.

As at 31 December 2019, MNF held $38.6 million of cash and had undrawn committed debt facilities available of $30.0 million.
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And recently, Rene Sugo, CEO, MNF Group Ltd stated "From a carrier network perspective at Symbio [company subsidiary], in the last month we have witnessed an 88% growth in inbound voice carriage.”

upload_2020-4-20_13-41-35.png
 
Rene Sugo, CEO of MNF Group talks about the history of MNF dating back to 2002 when they saw a trend of VOIP and have built a business leveraging that market opportunity. Now in 2020, VOIP powers such things as Zoom, Skype and many remote teams. The company has seen enormous demand through this Covid-19 period and whilst 18 years old, they have plans for many more years of growth.

https://open.spotify.com/episode/5H...utm_content=89177023&utm_source=hs_email&nd=1

Chart since inception:
upload_2020-6-9_13-6-34.png
 
I never get the love for this business, an undifferentiated, low margin product with no competitive advantage in a sector filled with the skeletons of failed businesses. MNF is carrying a lot of debt, and when you look back over its long term financials its not a great picture. This thing is priced like its a much better business than it is.

My jaundiced view is probably coloured by my dealings with MNF as a direct VoIP provider in its early days, not a good experience!

Its one of those companies I follow, occasionally wondering if I have missed something and its really an investible business, especially when other investors I respect talk favourably about it. So far I havent been able to change my mind!
 
sort of made it through the GCC (Great Covid Crisis) ; reporting today
Financial highlights:
• EBITDA increased 27% to $38.2 million (FY2019: $30.0 million)
• Revenue increased 7% to $230.9 million (FY2019: $215.6 million) and recurring revenue rose 27% to $101.5 million (FY2019: $79.8 million)
• NPAT increased 20% to $11.95 million (FY2019: $9.94 million)
• Underlying NPAT-A increased 18% to $16.6 million (FY2019: $14.1 million)
• Earnings per share rose 10% to 14.88 cents per share

The company’s strong profit performance and cash position has allowed the Board to declare a final dividend of 3.6 cents per share fully franked, bringing the full year dividend to 6.1 cents per share.

But it always seems to be a moving target, to get between customer and the money. CEO Rene Sugo has stated MNF customer usage data suggests that unified communications as a service (UcaaS) platforms such as Microsoft Teams will be the permanent winners from COVID19, potentially at the expense of Zoom or Slack.
Unified comms is the one shooting out of the gates right now, he said. In some ways, when the lockdown happened, people just reached out for whatever they could grab. We saw mobile traffic and audio conferencing traffic go through the roof and of course at collaborative platforms [like Skype and Zoom]. Now as the new normal settles down, we're seeing a lot of IT managers and CEOs going back to their organisations and going, 'how do I improve my business communications to allow working from home or another lockdown?
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According to Mr Sugo, the post COVID future will be UcaaS, where messaging, video conferencing, voice over internet, collaboration tools and file sharing are offered on one cloud based platform....
From my point of view, everyone will have a UcaaS tool installed on their desktop. What a lot of UcaaS providers are now doing is allowing guest access from people outside your network. So with Microsoft Teams, I can now invite people outside my organisation into a team and video call. So that precludes the need to install other software like Zoom. My prediction is the specialist collaboration providers will eventually be absorbed into the unified all encompassing service providers. .. It is almost like the proof of concept has been successful. Everyone now understands the benefit of having unified comms via my desktop or laptop that I can take to home, work, or travel.
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MNF down 5% on ??
 
On November 24th, 2021, MNF Group Limited (MNF) changed its name and ASX code to Symbio Holdings Limited (SYM).
 
Commenting on the name change CEO Mr Rene Sugo said:
"We are excited to move forward as Symbio, which is an established global brand within the industry and increasingly recognised as a leader in software enabled communications. Our clear path for global expansion, significant momentum in our Singapore operations, and our unified Symbio brand, positively positions us to execute our strategy and growth objectives for 2022 and beyond.”
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SYM mentioned in this May 27 Livewire article, albeit by someone from the Montgomery stable, so a pump.
I'd consider it under crash conditions.
I preferred the other guy's pick: John Lyng (JLG) although still too expensive for me.
A couple of stocks under this theme that they concur on : PME (sell) and IEL (buy)

Buy Hold Sell: 5 discounted growth stocks​


Symbio (ASX:SYM)

Gary Rollo (BUY): Well, I've tried to go with a stock where I really don't see any change in the fundamentals so the underlying growth velocity in the business is still the same. The stock I'm picking is Symbio (ASX: SYM) . It's the old MyNetFone business. Let's just start off with a couple of valuation frameworks for you. It's a $350 million market cap. It's got $50 million of cash on the balance sheet, so we don't have a capital structure question. It's on 8.5 to 9 times EBITDA, depending on whose EBITDA forecast you use so it doesn't have a valuation question.
Why has it been sold off so hard? It's been sold off so hard because the comparators, the overseas players that do what it does, they're at a different stage in their life cycle than the Symbio is. So this business has had its valuation regime adjusted, I think unjustly without reflecting on the fundamentals. So for us, Symbio, great Asian growth story, but you're not paying for it and so we like the look of that and that's our tip for now.
 
Proposal to acquire Symbio and FY23 Earnings Upgrade
Superloop Limited (ASX: SLC) announces that it has made a non-binding indicative proposal to acquire all of Symbio Holdings Limited’s (ASX: SYM) shares via a scheme of arrangement.
The Proposal values Symbio at A$2.85 per share, with consideration for the Proposed Transaction being an equal split of cash and Superloop shares
. The Proposal also contemplates releasing up to A$0.15 per share franking credits through the payment by Symbio of a fully franked dividend of up to A$0.35 per ordinary share to Symbio shareholders prior to scheme implementation (Special Dividend).
 
Part of today's announcement:

Following a period of exclusive due diligence which expired on 12 September 2023, Symbio advises that it has received a revised Best and Final non-binding indicative proposal from Superloop (“Revised Indicative Proposal”).
The Revised Indicative Proposal from Superloop is no longer subject to due diligence and is stated by Suplerloop to be best and final in the absence of a superior proposal.

Under the terms of the Revised Indicative Proposal, Symbio shareholders would receive a consideration of A$1.425 in cash and 2.14 Superloop shares for each Symbio share (“Proposed Purchase Price”). In addition, Symbio shareholders would have the ability to receive a greater portion of the consideration in scrip or shares by way of a mix and match facility, subject to scale back to achieve an overall consideration mix of up to 60% cash or up to 60% scrip, depending on the elections made by shareholders. The offer also contemplates a fully franked dividend to Symbio shareholders prior to scheme implementation of up to A$0.35 per ordinary share (“Special Dividend”), implying a release of franking credits of up to A$0.15 per share.

Based on Superloop’s closing price of $0.695 per share on 21 September 2023, the Proposed Purchase Price values Symbio at $2.91 per share
 
ABB Aussie Broadband has put in an offer at $3.15. .... likely SLC won't counter.
.
these things get complex ... with a mix and franking, SLC pushes the offer up a bit.
Screenshot_20231002-083155_Drive.jpg
 
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hmmm

i think i will retain my current bias against telcos operating in Australia

feel encouraged to push me aside here ( i still prefer exposure to telcos operating overseas)
 

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