Pointer Telocation (PNTR)

Business description

Pointer Telocation is a leading provider of MRM services and products to the automotive and insurance industries. Key services are asset tracking, fleet management and monitoring goods in transit/IoT. Its main markets are Israel, Brazil, Argentina, Mexico and Europe.

Stock data

Market cap.US$136.2m
Last closeUS$16.95
High / Low (52 weeks)US$17.4 / US$6.8
Stock market listingTel Aviv Stock Exchange, US
Forecast net debt (US$m)2.5
Forecast gearing ratio (%)5
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual2.416921.3974126.4529
Relative *0.200317.21589.5245

* % Relative to local index

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Company news

Pointer Telocation Ltd.

Sat, 12 Feb 2011 13:16:17 GMT

5 Reasons Pointer Telocation Is Pointing Upwards

Mon, 25 Sep 2017 15:22:30 GMT

Pointer Telocation Ltd. – Ordin (NASDAQ:PNTR) Trading Up – Short Interest Up ...

Fri, 20 Oct 2017 17:19:47 GMT

Form 6-K Pointer Telocation Ltd For: Oct 02

Mon, 02 Oct 2017 13:41:15 GMT

Pointer Telocation's CEO Discusses 'Best Ever Results'

Thu, 18 May 2017 12:38:05 GMT

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2015A 60.6 8.8 6.4 67.0 25.3 11.3
2016A 64.4 9.8 6.6 62.0 27.3 14.5
2017E 78.8 13.3 9.6 91.0 18.6 11.5
2018E 86.5 15.0 11.1 103.0 16.5 10.0

Last updated on 03/10/2017

Investment summary

Pointer Telocation generates high recurring revenues from mobile resource management services, with a focus on less developed markets. Following on from its recent contract win for telematics services to ride-hail firms in New York, the group has also signed a promising pilot programme with Latam firm Coca-Cola FEMSA, the largest global independent Coca-Cola bottler. After very strong H117 results, with EBITDA up 54% y-o-y helped by ongoing margin gains from the group's fast-growing subscriber base and strong operating leverage, Pointer Telocation looks well positioned to exceed management guidance of 20% EBITDA growth in 2017. We derive share valuations on multiple and DCF valuations of $15.4 (NIS55.1) and $16.3 (NIS58.2), respectively.

Last updated on 03/10/2017

Industry outlook

The global telematics market (services and products) is forecast to grow at an 18.9% CAGR between 2015 and 2020 according to Driscoll & Associates, reflecting the growing sophistication and integration of telematics devices into business frameworks and increasing legislation requiring the use of telematics. Less developed markets such as Latin America and Africa are forecast to achieve higher CAGRs of 15.6% and 17.3% respectively during this period.

Last updated on 03/10/2017

Key management

David Mahlab, CEO
Zvi Fried, CFO

Company address

4 Hamelacha Street,
Rosh Ha’ayin
48091
Israel
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