Speedcast International Held Its Annual General Meeting

  • May 21, 2019 AEST
  • Team Kalkine
Speedcast International Held Its Annual General Meeting

Remote communications and IT solutions provider, Speedcast International Limited (ASX: SDA) is primarily involved in providing critical telecommunications managed services and IT solutions to enterprises and governments in locations where there is limited or no terrestrial network.

The company designs, sources, configures, operates and maintains remote communications networks. The company is having a high recurring revenue base with an average contract life of 2-3 years. In the past five years, the company executed and integrated a number of acquisitions.

The company’s four main divisions include Maritime, Enterprise & Emerging Markets (EEM), Government and Energy. The company recently held its Annual General Meeting (AGM) on 20 May 2019. At the AGM, the shareholders voted for six resolution.

AGM Results (Source: Company Reports)

With more than 1500 employees and 250 local engineers, the company is having a unique global footprint spread across 140+ countries. The information technology is undergoing a major transformation with the growth in data connectivity needs and the need for managed services globally.

From the year 1992 to 2019, the company has evolved from being a managed Connectivity Service Provider to being a managed Information Service Provider.

In 2018, the group revenue increased by 21% to US$623.1 million with organic revenue growing by 5%.

In 2018, the company completed the acquisition of Globecomm, which almost doubles the scale of its revenue in the high growth global government sector and brings both significant cost and revenue synergy opportunities. Moreover, the company celebrated the signing of the two largest contracts in the history of the Company, with NBN Co in Australia and Carnival Corporation in the U.S.

The company achieved strong organic growth in three of its Divisions – Maritime, EEM and Government. However, the results of the Energy division were impacted by the delay in recovery in the Energy market, which affected the company’s results and led to adjusted guidance during the year.

In 2019, the company’s focus is to build on the strong foundations of the business and deliver organic growth across its business. This will allow the company to continue to invest for growth as well as, importantly, reduce its debt leverage.

In 2018, the company expanded its capabilities and developed solutions that bring value to the company’s customers. Through the year the company was recognised by the Australian Communications Industry (ACOMM), Euroconsult and VSAT Global with various product innovation awards.

Now, let’s have a glance at the company’s share performance and the return it has posted in the last few months. The stock traded at a price of $0.020, up by 5.263 percent during the day’s trade with a market capitalisation of ~$11.91 Million as on 21 May 2019. The stock has provided a year till date return of -9.52% & also posted returns of 11.76% and 58.33% over the past six months and one-month period respectively. It has a 52-week high price of $0.030 and touched 52 weeks low of $0.011, with an average volume of around 152,777.


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