Seven Aces Limited - Ordinary Shares ACEXF

Good qtr

[lscfa]

 

Qtr ending	Revenues	Adj. ebitda	Adj. CFO	Salaries	Admin	Costs / rev
Mar 20	23,755,342	9,361,539	4,031,386	624,060	1,131,330	7.4%
Dec 19	19,967,090	4,508,059	3,936,994	878,411	2,206,399	15.4%
Sep 19	19,356,638	6,406,980	3,885,675	382,682	2,186,901	13.3%
Jun 19	19,875,746	7,674,835	4,248,176	380,400	1,192,658	7.9%
Mar 19	20,095,522	8,297,985	5,242,047	541,995	529,828	5.3%

[lscfa]

Q2 impact of Covid not much....   Based on the operational results up to May 29, 2020, the financial impact of COVID-19 on the Company has been minimal as many of the Company’s locations are gas stations and convenience stores which are considered essential services. The Governor of Georgia announced on April 20, 2020 that some businesses were permitted to reopen their doors on April 24

[lscfa]

March qtr does not include a full 3 months of results of 6 acquistions made in the quarter so expect Q2 to be higher.    

[knicksman]

This company remains incredibly undervalued.  For 2020, the company is on track for EBITDA of US$40 million (or US$28 million attributable to ACES). Interest cost are down signficantly. And, so are acquisiton costs. FCF to ACES is tracking at about US$20 million or close to C$0.40 per share. That's unreal.  The shares trade at 5.5x EV/EBITDA and 25% FCF yield. For a company that