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CMI LIMITED. (CMI)

CMI LIMITED. (CMI)

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General Information
Company Name: CMI Limited
Stock Code: CMI
Website: www.cmilimited.com.au
GICS Sub-Industry: Industrial Machinery
Market Cap ($M): 73
Equiv. Shares (M): 34

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 2.150 $ 2.100 $ 2.150 $ 2.100 $ 2.080 4,968 $ 0.070  3.365 %

Current Broker Consensus Recommendation more
Recommendation: Hold
Recommendation Date: 7th Sep 2006
12 Month Target Price (average): $1.2
Brokers Surveyed: 1

Company Overview

Business Description:
CMI Limited (CMI) is involved in the manufacture and distribution of electrical cables and components and accessories for the 4WD, SUV and Trade market segments. The Company’s head office is based in Brisbane, Australia. CMI has two wholly-owned subsidiaries, being CMI Operations Pty. Ltd. and TJM Product Pty. Ltd.

Strategy Analysis:
CMI made an investment in their Financial Services division with the aim of transforming it from a single product provider to a multi-service finance brokerage. CMI also invested in growing the geographic reach and product diversity of CMI Electrical through the acquisition and integration of Aflex Cables. The relocation of TJM in the second half of 2004/2005 to new, larger manufacturing and distribution facilities provides a base from which TJM's domestic and export markets can continue to expand. The company's 4WD accessories business received Investment in a new furnace and additional machining capacity was made at TMT during the 2004/2005 year. This new plant will help streamline efficiency and increase capacity to produce heavy transport wheel products sold to the original equipment (OE) truck manufacturers and the aftermarket in both Australia and North America and cylinder heads for the North American aftermarket. The total investment for the period was approximately $3m.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2011  A 13.3 39.5 -- 2.0 0.0 0.0 --
2010  A -0.4 -1.3 -- 0.0 0.0 0.0 --
2009  A -1.5 -4.4 -- 0.0 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F
Austin Engineering (ANG) $315 M 0.0860 0.2963 0.2257 14.8515 11.4564 9.3468 0.0264 0.0302 0.0348
Bradken (BKN) $1,024 M -0.1052 0.0913 0.3631 11.5972 10.6268 7.7960 0.0651 0.0669 0.0830
Boart Longyear (BLY) $1,425 M 0.7858 0.3566 0.1891 9.0166 6.6466 5.5897 0.0331 0.0451 0.0512
CMI (CMI) $70 M -- -- -- 5.2712 -- -- 0.0000 -- --

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
CMI 1.48 5.45 1.10 -- 0.72
Market 1.12 11.1 0.96 2.31 2.55
Sector 0.92 10.37 1.08 0.49 0.50

Directors
Name Position Start Date
Mr Colin Gregory Ryan Executive Chairman,Managing Director 28 February 2007
Mr Darryl Craig Somerville Non-Executive Director 28 February 2012
Ms Leanne Catelan Non-Executive Director 30 August 2011

Management
Name Position
Sharyn Williams Company Secretary
Jeff Heslington General Manager - Electrical Components Division
Richard D. Catelan General Manager - TJM Products Division

Substantial Shareholders
Holding Name
1,517,886 (5.42%) Gabriel Berger
2,271,647 (8.11%) RD Catelan Investments Pty Limited
3,028,000 (10.81%) Trojan Equity Limited

Calendar of Events
Date Event
26 February 2013 Report (Interim)
28 September 2012 Report (Annual)
29 August 2012 Report (Prelim)
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