RE:RE:newsOn page 23 of the Sepember corporate presentation, EBITDA from Arraias in H2 is predicted to be $(10) - (5) mm.
On page 17 of Q3 MDA, Arraias' Adjusted EBITDA is $(4.7).
To me Q3 numbers just confirmed the Bad News already disclosed to the market. There is no incremental negative information.
On page 23 of the September corporate presentation, EBITDA from Conda in 2018 is estimated to be $40 - 50 mm. On page 18 of Q3 MDA, Conda's EBITDA for the first nine months has already reached $45.9 mm. To me this is incremental positive information.
Conda + Stonegate should be the core assets of Itafos. As the company pointed out, the acquisition of Conda is transformative. On page 13 of the Q3 F/S, the company stated:
"Itafos Conda contributed net revenues of $183,630 and net income of $82,132 to the Company from January 12, 2018 through September 30, 2018. If the acquisition had occurred on January 1, 2018, net revenue and net income for the nine months ended September 30, 2018 would have been $191,071 and $84,073, respectively"
Considering the EBITDA and net income of Conda (with $51 mm of gain on fair valuation of PPE of Conda), compared to the price Itafos paid to Nutrien, the acquisition of Conda is indeed transformative to Itafos.
jpinkman wrote: haha. no wonder it's down almost 2/3's from it's high! obviously some people get info b4 it's made public and knew it would suck. should be interesting tomorrow. history repeats.