Who would have thought we would ever of seen this day? I love the commitment to cost controls are finally getting through.
Admin Costs – 8.599M (Down as a Percentage of Sales by 3.49% QoQ)
Personnel Costs – 25.753M (Down as a Percentage of Sales by 1.05% QoQ)
Seeing this progress QoQ is very promising as they have a lot of cut still to fat and it drives significant EBITDA growth which is demonstrated by the huge pump in EBITDA margin up to 28.52% up a whooping 4.52% QoQ.
I love the organic growth they are still seeing in the underlying platform with it still growing organically at 17.3% and the kicker with 28 customers in the pipeline to launch. This gives you runway for growth for the foreseeable future.
I will stick with my two horsemen of exceptional value in the CDN market that I strongly suggest people look at both (Have a max 10% position in both) AVE.V – Aveda Transportation & Energy Services the biggest beneficiary of the Baker Hughes Rig Count almost tripling from last year trading at 1.5x 2017 EBITDA and 1.0x 2018 EBITDA and of course NYX.V – NYX Gaming trading at not much more than 2.0x EBITDA.
That EBITDA margin figure and pipeline for organic growth is going to bring these big institutional players back into the name. I could see that EBITDA margin continue to strengthen beyond 30% before the end of the year…
SO LONG