I know there's quite a few Ellies investors here on #fintwit but I'm just not sure I see the value. - EBITDA losses in 3 of the last 5 years.
- Declining operating cash flow for 5 years and now negative in 2021.
- NAV 43% lower than 5yrs ago.
- No dividend.
They specialise in lighting, audio-visual and solar solutions. Selling satellite dishes to Multichoice clients doesn't seem like an area of growth when there's online streaming.
The bull case seems to be pinned on inverters & solar in response to loadshedding. Time will tell if thats enough to have a real impact. Interested to hear everyones thoughts and what I'm missing.
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