sealink travel

SeaLink Travel Group arrives at the ASX200

Monday 06 September 2021

SeaLink Travel Group Limited (SeaLink) has today secured a place in the S&P Dow Jones/ASX200 index (ASX200).

From humble beginnings, the South Australian company has grown from 1,655 employees in 2019 to approximately 9,000 today. With revenue approaching $1.2 billion per annum, a market capitalisation of approximately $2 billion, and operations in Australia, the UK and Singapore, SeaLink is uniquely positioned as Australia’s largest, multi modal international transport and travel company.

The catalyst for this significant growth has been principally derived from the $635 million acquisition of the Transit Systems Group of companies in January 2020, which was followed by a raft of additional contract awards and renewals, securing new future revenue in excess of $4 billion.

Group CEO, Clint Feuerherdt has a clear growth strategy to build upon the Transit Systems acquisition, delivering shareholder value through organic growth opportunities and contracted revenue certainty.

“The Transit Systems acquisition has enabled us to reposition the business to be underpinned by approximately 90% contracted and non-discretionary essential transport services.

Despite managing the effects of the pandemic, SeaLink has achieved some significant milestones.

“Our Singapore operations are doubling in size through securing the PT217 contracts, which will operate both the Bulim and Sembawang-Yishun bus packages – delivering contract revenue of approximately S$1 billion over five years.

“The acquisition of Go West Tours in July 2021 provides a new platform for growth in the mining and resources transport sector.

“We are Australia’s largest and most respected ferry operator, recently reinforced through the award of a 15 year contract to operate the iconic Brisbane River CityCat and Cross River Ferries, which now represents around 30% of our expansive 117 vessel maritime fleet.

“Our senior management team has also been enhanced in line with the Company’s significant growth, building additional capacity and to maintain our all-important focus on the safety of our employees and customers.

“From serving honeymooners in our resorts on Fraser Island to transporting essential workers to their workplace in the midst of lockdowns, our customer focus is unwavering.”

Mr Feuerherdt said they are thrilled to be recognised with a place in the ASX200.

“Being part of the ASX200 will provide greater investor exposure, expanded access to capital and a new peer group that will drive us to even higher levels of performance, governance and professionalism. Securing a place in the ASX200 is recognition of the dedicated commitment and collective effort from everyone at SeaLink.

“From a mining site, or metropolitan city, to a suburban school run or remote island ferry connection, we understand our customers’ needs and we work tirelessly to deliver efficient and intelligent services tailored to each community that we serve.”

An impressive line-up of opportunities is on the horizon - a sentiment investors agree with, given SeaLink’s share price has doubled over the last twelve months.

“As an ASX200 company, and with a foothold in every state in Australia and operations in some of the most respected cities of the world, SeaLink is set to showcase what Australian transport and tourism experts can bring to the world stage,” Mr Feuerherdt said.

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Latest News

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18 jun 2024, new transit systems nsw managing director ready for the fast lane, 15 may 2024, asher telford appointed general manager of sealink whitsundays, 03 may 2024, north stradbroke island’s dunwich state school scores a massive goal with transit systems’ support, 07 mar 2024.

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Investors in sealink travel group limited (asx:slk) should consider this, first.

Dividend paying stocks like SeaLink Travel Group Limited ( ASX:SLK ) tend to be popular with investors, and for good reason - some research suggests a significant amount of all stock market returns come from reinvested dividends. On the other hand, investors have been known to buy a stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations.

With a six-year payment history and a 4.7% yield, many investors probably find SeaLink Travel Group intriguing. It sure looks interesting on these metrics - but there's always more to the story . Some simple analysis can reduce the risk of holding SeaLink Travel Group for its dividend, and we'll focus on the most important aspects below.

Explore this interactive chart for our latest analysis on SeaLink Travel Group!

Payout ratios

Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. In the last year, SeaLink Travel Group paid out 96% of its profit as dividends. Its payout ratio is quite high, and the dividend is not well covered by earnings. If earnings are growing or the company has a large cash balance, this might be sustainable - still, we think it is a concern.

We also measure dividends paid against a company's levered free cash flow, to see if enough cash was generated to cover the dividend. With a cash payout ratio of 98%, SeaLink Travel Group's dividend payments are poorly covered by cash flow. As SeaLink Travel Group's dividend was not well covered by either earnings or cash flow, we would be concerned that this dividend could be at risk over the long term.

While the above analysis focuses on dividends relative to a company's earnings, we do note SeaLink Travel Group's strong net cash position, which will let it pay larger dividends for a time, should it choose.

Consider getting our latest analysis on SeaLink Travel Group's financial position here.

Dividend Volatility

From the perspective of an income investor who wants to earn dividends for many years, there is not much point buying a stock if its dividend is regularly cut or is not reliable. SeaLink Travel Group has been paying a dividend for the past six years. It's good to see that SeaLink Travel Group has been paying a dividend for a number of years. However, the dividend has been cut at least once in the past, and we're concerned that what has been cut once, could be cut again. During the past six-year period, the first annual payment was AU$0.089 in 2014, compared to AU$0.15 last year. This works out to be a compound annual growth rate (CAGR) of approximately 9.0% a year over that time. The dividends haven't grown at precisely 9.0% every year, but this is a useful way to average out the historical rate of growth.

A reasonable rate of dividend growth is good to see, but we're wary that the dividend history is not as solid as we'd like, having been cut at least once.

Dividend Growth Potential

With a relatively unstable dividend, it's even more important to evaluate if earnings per share (EPS) are growing - it's not worth taking the risk on a dividend getting cut, unless you might be rewarded with larger dividends in future. SeaLink Travel Group has grown its earnings per share at 7.5% per annum over the past five years. Although per-share earnings are growing at a credible rate, virtually all of the income is being paid out as dividends to shareholders. This is okay, but may limit growth in the company's future dividend payments.

We'd also point out that SeaLink Travel Group issued a meaningful number of new shares in the past year. Trying to grow the dividend when issuing new shares reminds us of the ancient Greek tale of Sisyphus - perpetually pushing a boulder uphill. Companies that consistently issue new shares are often suboptimal from a dividend perspective.

Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. We're a bit uncomfortable with SeaLink Travel Group paying out a high percentage of both its cashflow and earnings. Second, earnings growth has been ordinary, and its history of dividend payments is chequered - having cut its dividend at least once in the past. Using these criteria, SeaLink Travel Group looks quite suboptimal from a dividend investment perspective.

Companies possessing a stable dividend policy will likely enjoy greater investor interest than those suffering from a more inconsistent approach. Still, investors need to consider a host of other factors, apart from dividend payments, when analysing a company. Taking the debate a bit further, we've identified 4 warning signs for SeaLink Travel Group that investors need to be conscious of moving forward.

If you are a dividend investor, you might also want to look at our curated list of dividend stocks yielding above 3%.

If you spot an error that warrants correction, please contact the editor at [email protected] . This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Thank you for reading.

A closer look at Akshay Kumar's Rs80 crore elegant abode in Juhu, Mumbai

T he Khiladi Kumar of Bollywood, Akshay Kumar resides with his wife, Twinkle Khanna, and their two children in a luxurious duplex apartment at Prime Beach, Juhu. This prestigious area, often called the Beverly Hills of Mumbai, is known for its elite residents and prime real estate, with property prices soaring over ₹20 crores.

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READ ALSO: Ramayana: A peek inside Shatrughan Sinha’s opulent legacy house

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Unique features and historical significance The home’s interior features are meticulously curated. The living area boasts 13-part pendant lighting, while designers Sandeep Khosla and Abu Jani have crafted the centerpiece table. The residence also has a rich history, once belonging to Sumati Morarjee, a renowned freedom fighter and friend of Mahatma Gandhi. Gandhi himself spent time meditating on the lawns of this historic property.

READ ALSO: A look into Ajay Devgn and Kajol's 'Shivshakti': A Rs 60 crore luxurious haven in Juhu

The vibrant Juhu neighborhood Lastly, living in Juhu offers Akshay and his family an unrestricted view of the iconic Juhu Beach. The area is rich in cultural landmarks, including the famous Prithvi Theatre, a hub for the arts in Mumbai. The Bandra-Worli Sealink, an architectural marvel, is just a ten-minute drive from Juhu, adding to the neighborhood’s appeal.

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