External broker reports(aggregated public sources), Canaccord Genuity

Canaccord Genuity

External broker reports(aggregated public sources)

Canaccord Genuity Group Inc. is a leading independent investment bank with operations in North America, UK & Europe and Asia-Pacific. Canaccord Genuity Group Inc. is a leading independent, full-service financial services firm. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>CLG's FY24 revenue and earnings were in line with guidance, our estimates and consensus expectations.</li><li>Despite healthy EBITDA in 2H FY24, net debt increased by $16m in the June half, which we believe was a key driver of the fall in the share price.</li><li>Our earnings estimates for FY25 and FY26 are quite stable and the shares trade on extremely low valuation multiples, and we stay at BUY, albeit with a 12 cents lower valuation of 53c per share.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

CLG's FY24 revenue and earnings were in line with guidance, our estimates and consensus expectations.Despite healthy EBITDA in 2H FY24, net debt increased by $16m in the June half, which we believe was a key driver of the fall in the share price.Our earnings estimates for FY25 and FY26 are quite stable and the shares trade on extremely low valuation multiples, and we stay at BUY, albeit with a 12 cents lower valuation of 53c per share.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Close the Loop Ltd - FY24 EBITDA in Line but Net Debt Above Expectations

<div><div><div><div><ul><li>A leading player in the Circular Economy, Close the Loop Ltd (CLG-ASX) is involved in several verticals, including sustainable packaging, printer cartridge recycling, and, most compelling to us in terms of the opportunity, the repurposing of personal and enterprise electronic equipment for OEMs.</li><li>The business is free cash flow positive and trades on very modest valuation metrics, leading us to initiate with a BUY rating and $0.65 per share target price.</li><li><div><div><div><div><p>CLG's business is centred on circular economy solutions and operates through two divisions, Packaging and Resource Recovery.</p></div></div></div></div></li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

A leading player in the Circular Economy, Close the Loop Ltd (CLG-ASX) is involved in several verticals, including sustainable packaging, printer cartridge recycling, and, most compelling to us in terms of the opportunity, the repurposing of personal and enterprise electronic equipment for OEMs.The business is free cash flow positive and trades on very modest valuation metrics, leading us to initiate with a BUY rating and $0.65 per share target price.CLG's business is centred on circular economy solutions and operates through two divisions, Packaging and Resource Recovery.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Close the Loop Ltd - Squaring the Circular Economy

External broker reports(aggregated public sources), CCZ Statton Equities

CCZ Statton Equities

CCZ is a leading Australian stockbroking firm providing stockbroking and wealth generation services to private clients and institutional investors. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>CLG has acquired 100% of US-based ISP Tek Services and Captive Trade Corporation for $66m USD ($35m cash, $11m scrip, $5m equity earn out and $15m convertible note), and supported with a fully subscribed $45m placement (136m shares at 33 cps).</li><li>The acquisition of ISP is immediately EPS accretive and represents an LTM P/E multiple of c.4.8x.</li><li>ISP Tek Services is a new service line for the group, offering refurbishment of consumer electronic goods to OEM standards for top-tier brands<em>.</em></li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

CLG has acquired 100% of US-based ISP Tek Services and Captive Trade Corporation for $66m USD ($35m cash, $11m scrip, $5m equity earn out and $15m convertible note), and supported with a fully subscribed $45m placement (136m shares at 33 cps).The acquisition of ISP is immediately EPS accretive and represents an LTM P/E multiple of c.4.8x.ISP Tek Services is a new service line for the group, offering refurbishment of consumer electronic goods to OEM standards for top-tier brands.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Close the Loop - A New Circuit in the Loop

<ul><li>CLG reported revenue of $58.6m (CCZe: $53.1m), +44% pro-forma pcp, including a part period contribution from the Alliance Paper acquisition that accounted for c.+10% of growth.</li><li>EBITDA remains strong at $9.5m (CCZe: $8.3m), +28% vs pro-forma pcp despite cost increases in raw materials.</li><li>The combined entities are now operating cash positive with $6.0m, +600% vs pcp.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

CLG reported revenue of $58.6m (CCZe: $53.1m), +44% pro-forma pcp, including a part period contribution from the Alliance Paper acquisition that accounted for c.+10% of growth.EBITDA remains strong at $9.5m (CCZe: $8.3m), +28% vs pro-forma pcp despite cost increases in raw materials.The combined entities are now operating cash positive with $6.0m, +600% vs pcp.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Close the Loop - One Man's Trash Is CLG's Treasure

<ul>
<li>Close the Loop Group (CLG) is a global sustainability solutions company that provides a circular economy for waste management issues among industry partners.</li>
<li>This enables customers to achieve their environmental and social responsibility targets.</li>
<li>CLG operates globally with offices in Belgium, USA, South Africa and Australia across packaging and resource recovery segments.</li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


Close the Loop Group (CLG) is a global sustainability solutions company that provides a circular economy for waste management issues among industry partners.
This enables customers to achieve their environmental and social responsibility targets.
CLG operates globally with offices in Belgium, USA, South Africa and Australia across packaging and resource recovery segments.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Close the Loop - Investing in a Greener Future

Australia

Close The Loop Ltd. provides national battery recycling services. The Company offers battery collection and recycling solutions, as well as battery collection boxes for secure storage and road transport. Close The Loop serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Close The Loop Ltd (CLG AU)

Close the Loop Ltd - FY24 EBITDA in Line but Net Debt Above Expectations

Our earnings estimates for FY25 and FY26 are quite stable and the shares trade on extremely low valuation multiples, and we stay at BUY, albeit...

Canaccord Genuity

Close the Loop Ltd - Squaring the Circular Economy

The business is free cash flow positive and trades on very modest valuation metrics, leading us to initiate with a BUY rating and $0.65 per share...

Canaccord Genuity

Close the Loop - A New Circuit in the Loop

CLG has acquired 100% of US-based ISP Tek Services and Captive Trade Corporation for $66m USD ($35m cash, $11m scrip, $5m equity earn out and $15m...

CCZ Statton Equities

Close the Loop - One Man's Trash Is CLG's Treasure

CLG reported revenue of $58.6m (CCZe: $53.1m), +44% pro-forma pcp, including a part period contribution from the Alliance Paper acquisition that...

CCZ Statton Equities

Close the Loop - Investing in a Greener Future

Close the Loop Group (CLG) is a global sustainability solutions company that provides a circular economy for waste management issues among industry...

CCZ Statton Equities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)