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General Information

iiNET Limited
IIN
http://www.iinet.net.au
Alternative Carriers
1,549
165

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$9.41 $9.42 $9.42 $9.38 $9.40 557968 $0.01 ( 0.11% )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Hold
31/07/2015
4

Company Overview

Business Description
iiNet Limited (IIN) is a DSL Internet Service Provider (ISP) supporting 1.7 million broadband, telephony, mobile and Internet Protocol TV (IPTV) services to a range of residential, regional and corporate customers across Australia.
Strategy Analysis
IIN will continue its commitment to ADSL broadband, supported by the installation of its own DSLAMs, which provides a lower cost base than its competitors. Despite the National Broadband Network, rollout of its own DSLAMs will continue on a selective basis. Other strategies include: Brand launch campaigns for brand awareness, customer service and additional products such as VoIP, internet package and IPTV. iiNET reported NPAT of $31.94m for the half-year ended 31 December 2012. Revenues from ordinary activities were $473.6m, up 30% from the same period last year. The increase in revenue was attributable to the following: continued expansion of the services provided to existing residential and business broadband customers; the acquisition of the TransACT Group on 30 November 2011; and the acquisition of Internode on 31 January 2012. Diluted EPS was 19.7 cents compared to 9.5 cents last year. Net operating cash flow was $71.66m compared to $22.74m last year. The interim dividend declared was 8.0 cents compared with 6.0 cents last year.

Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016 F 73.2 44.7 8.4% 21.0 25.0 2.7% 100.0%
2015 F 67.3 41.2 2.0% 22.8 23.0 2.4% 100.0%
2014 A 65.8 40.4 1.0% 16.5 22.0 3.3% 100.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
Chorus (CNU) $1,019M -0.2287 0.0015 0.0207 9.3625 9.3489 9.1589 0.00% 0.00% 2.72%
iiNET (IIN) $1,547M 0.0747 0.0398 0.0895 23.2616 22.3703 20.5330 2.34% 2.66% 2.81%
First Opportunity Fund (VOC) $1,420M 0.4325 0.1581 0.3790 38.2517 33.0300 23.9519 0.29% 1.30% 0.89%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.33 22.40 4.26 3.48
Market 0.90 16.20 1.34 1.33
Sector 0.26 17.70 2.96 1.55

Directors

Name Position Start Date
Mr Peter Richard James Non-Executive Director 28/11/2003
Mr David Campbell Grant Non-Executive Director 12/10/2006
Mr Patrick Redmond Joseph O'Sullivan Non-Executive Director 22/04/2014
Ms Louise McCann Non-Executive Director 14/04/2011
Mr Paul McCarney Non-Executive Director 22/04/2014
Mr Michael K Smith Non-Executive Director, Non-Executive Chairman 19/09/2007

Management

Name Position
Greg Bader Chief Business Officer
David Buckingham Chief Executive Officer
Maryna Fewster Chief Operating Officer
Steve Dalby Chief Regulatory Officer
Ben Jenkins Company Secretary

Substantial Shareholders

Holding Name
10,184,137 (6.32%) TPG Telecom Limited

Calendar of Events

Date Event
18 February 2016 Report (Interim)
22 September 2015 Report (Annual)
20 August 2015 Report (Prelim)
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