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Rubicon (RBC)

Business description

Rubicon is an NZX-listed investment company whose ArborGen subsidiary is the world’s largest integrated developer, manufacturer and commercial supplier of advanced forestry seedlings with operations in the US, Brazil and Australasia.

Stock data

Market cap.NZ$110.2m
Last closeNZ$0.23
High / Low (52 weeks)NZ$0.3 / NZ$0.2
Stock market listingNZ
Forecast net debt (US$m)19
Forecast gearing ratio (%)13
TeamIndustrials
SectorConstruction & Building Materials

Price performance

%1m3m12m
Actual(2.2)(10)(2.2)
Relative *(5.7)(11.2)(7.4)

* % Relative to local index

Other companies in sector Show

Company news

BRIEF-Rubicon updates on acquisition of US-based Arborgen Inc

Wed, 28 Jun 2017 22:18:45 GMT

Rubicon Project will drop buy-side fees as part of its ongoing transparency drive

Thu, 02 Nov 2017 19:47:04 GMT

Utility services firm acquired in private equity deal

Thu, 22 Feb 2018 08:33:08 GMT

Jeep Wrangler Rubicon Recon special edition arrives in UK

Mon, 17 Jul 2017 08:15:00 GMT

Rubicon Project axes 100 staff as it counts the cost of killing its buy-side ...

Wed, 14 Mar 2018 23:13:28 GMT

Y/E Mar Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2017A 6.0 (6.0) (1.0) (0.2) N/A N/A
2018A 35.0 6.0 4.0 1.2 12.9 18.9
2019E 50.0 5.0 5.0 1.1 14.1 12.6
2020E 59.0 9.0 10.0 2.0 7.7 8.4

Last updated on 20/12/2018

Investment summary

Rubicon’s H1 performance contained typical seasonal trading features ahead of the more important H2 trading period and our earnings estimates are unchanged. We are encouraged to see a number of positive commercial steps being taken in each of the main countries, which will support future aspirations. Our earnings estimates are unchanged as is our previous DCF valuation analysis which indicated a NZ$0.74 per share valuation.

Last updated on 20/12/2018

Industry outlook

The economic growth outlook in each of its core countries being the US, Brazil, New Zealand and Australia is either good or improving, according to OECD data. Consequently, the primary end-markets served by its plantation forestry customer base (being construction, and the pulp and paper industries) are in a positive cyclical phase.

Last updated on 29/11/2018

Key management

Luke Moriarty, CEO
Sharon Ludher-Chandra, Business Development Executive
Alex Brown, IT
Mark Taylor, Chief Financial Officer and Company Secretary

Company address

PO Box 68 249, Newton
Auckland
1145
New Zealand
+649356 9800
View website