RWL - Rubicon Water

[System]

Rubicon is a water technology solutions business that designs, manufactures, installs and maintains irrigation automation software and hardware. Rubicon aims to address the issue of global water scarcity by maximising water availability and agricultural productivity through improved irrigation water use efficiency.

Rubicon's solutions are used by governments, irrigation water authorities and farmers to modernise gravity-fed irrigation distribution channel networks and on-farm irrigation systems. The solutions improve water-use efficiency by reducing spills, accurately measuring and accounting for water, and improving the reliability, flexibility, timeliness and accuracy of supply of water to farms.

Rubicon commenced international operations in 2006 with the establishment of Rubicon’s USA business, where Rubicon currently has a number of irrigation water authority customers. Rubicon's entry into other international markets has since followed, including China and Europe in 2009, and Latin America and New Zealand in 2012 to 2013.

In February 2019, Rubicon was awarded the contract to modernise irrigation regions within the Upper Krishna Project in the state of Karnataka in India (KBJNL Project Contract).

It is anticipated that RWL will list on the ASX during September 2020.

Rubicon Water | Innovative Irrigation Solutions

Rubicon Water delivers advanced technology to optimize gravity irrigation management systems through automated gates and precise water accounting software

rubiconwater.com

 

[Dona Ferentes]

Listing date	2 September 2021 11:30 AM AEST ##
Company contact details	https://rubiconwater.com/en/ Ph: +61 3 9832 3000
Principal Activities	Water technology solutions business that designs, manufactures, installs and maintains irrigation automation software and hardware.
GICS industry group	TBA
Issue Price	$1.00
Issue Type	Ordinary Fully Paid Shares
Security code	RWL
Capital to be Raised	$42,600,000
Expected offer close date	26 August 2021
Underwriter	Fully underwritten. Bell Potter Securities Limited (Lead Manager)

- underwritten and raising a fair wad of cash.

Was established in 1995 and headquarters in Melbourne. Focused on large scale gravity fed irrigation systems, to maximise efficient utilisation of water. Offices and manufacturing in India, NZ, Chile, USA, Spain, China with agents elsewhere.

 

[mullokintyre]

They did a lot of work for GMW in the Goulburn Valley on the so called "Irrigation Modernisation Project".
A government quango organised scam that wasted a lot of money for precious little result.
Lets hope they do a little better working in the Private Industry.
Mick

 

[Dona Ferentes]

and trading ... around $1.52 so a stag on Day One.

 

[Dona Ferentes]

Lets hope they do a little better working in the Private Industry.

No need to try too hard. Imagine the robust box ticking by in some investors (not)?

the irrigation automation group’s entire $42.6 million IPO has been taken out by three ethical funds. It’s understood that sole lead manager Bell Potter only shopped around the company to a limited pool of investors, specifically targeting those with an ethical focus, much to the chagrin of other funds.

Australian Ethical, Ellerston (via its ethical equities fund) and Nathan Parkin’s Ethical Partners got the stock.

The company forecast $80.4 million revenue for 2021, $13.8 million EBITDA and $7.5 million net profit, on a pro forma basis. Hardware sales generates 86 per cent of Rubicon’s revenue, software and services contribute 7 per cent and ongoing maintenance of its products also generates 7 per cent.

Now $1.77

 

[mullokintyre]

Did you get on?
Mick

 

[Dona Ferentes]

Did you get on?

No. Can't get excited, seen and dealt with enough of these orgs. Nice work, if you can get it; but it doesn't fit on my barbell of possible plays.

 

[Tommy Shelby]

Price now down to $0.87/share - the overall thematic should make sense but it seems that they have little control over projects being delivered (maybe forecasting is the issue?). So they will always have lumpy earnings as a business and their software/monitoring division (recurring income) does not seem to generate a significant portion of sales.

Their fixed capital structure seems really light for a manufacturer?

 

[divs4ever]

87 cents ?

might be time to do a little research on this ( maybe even put-it on a watch-list )

cheers

( the India exposure was what caught my eye )