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Company Information

Company at a Glance

Industry:
Diversified Telecommunication Services
Fiscal Year-End:
Jun 10

Company Overview

PIPE Networks (PWK) provides telecommunication services to internet service providers, telecommunication carriers and the corporate marketplace. The company also operates a fibre optic-based network, servicing the CBDs and metropolitan areas of Sydney and Brisbane.

Company History

PWK was incorporated as IX Services Australia Pty Ltd (trading as PIPE Networks) in December 2001 and formally commenced its operation in May 2002. In July 2002, PIPE Networks was granted a Telecommunications Carrier Licence by the Australian Communications Authority.

Industries Of Operation

PWK operates in the Telecommunication Services sector. The sector faces strong local and global competition which is highly price competitive. The fibre optics market is growing due to the increasing needs of companies and governments for high-speed communication capacity.

Differentiating Factor

PWK is one of Australia's largest peering provider. The company's differentiating factor is its portfolio of peering clients which include some of Australia's largest content and internet service providers; WebCentral, The Australian Broadcasting Corporation, iiNet, Primus, TPGi and AsiaNetcom.

Major Customers & Competitors

Local competitors include large telecom companies such as Telstra, Vodaphone and Optus. Telecom corporation of New Zealand and Singapore Telecommunications Ltd are overseas competitors which have interests in Australia's telecommunications industry. Customers include Internet service providers, telecommunication carriers and the corporate marketplace. Amongst users of PWK's Dark Fibre service are Flight Centre, ABN Amro Morgans and the Queensland Government.

Research provided by  

Market Statistics

Market Cap ($M):
362.4
Equiv. Shares (M):
56.3
% All Ords:
0.00
12Mth Range ($):
2.91 - 6.28
Turnover ($M pa):
113.8
Index:
n/a
Sector:
Telecommunication Services
Industry Group:
Telecommunication Services
Industry:
Diversified Telecommunication Services
Sub Industry:
Integrated Telecommunication Services

Last 5 Market Sensitive Announcements

Date
Announcment
22-Jan-10 10:10
FY10 Half Yearly Report and Accounts
21-Dec-09 09:55
TPG Confirmation of Finance
11-Nov-09 16:37
Reinstatement to Official Quotation
11-Nov-09 15:59
SP Telemedia to acquire PIPE Networks
06-Nov-09 09:53
Suspension from Official Quotation

Calendar Of Events

Date
Event
20-Nov-09
Dividend Date Payable for Final Year Result (8c 100% franked)
06-Nov-09
Dividend Record Date for Final Year Result (8c 100% franked)
30-Oct-09
Dividend Ex-Dividend Date for Final Year Result (8c 100% franked)
25-Aug-09
Reporting Date for Final Year Result
21-Nov-08
Dividend Date Payable for Final Year Result (7c 100% franked)

Directors

Name
Position
R B Clarke
Director
B Slattery
Director
G Baynton
Director
J Sinclair
Executive Director

Management

Name
Position

There are no recorded management positions for this company.

Substantial Shareholders

Name
% Holding
S Baxter
18.0
B Slattery
18.0
Fisher Funds Management
8.8
Acorn Capital
7.9

Consensus Recommendation Summary


0
0
4
0
1
Sell Under Perf. Hold Out Perf. Buy

Number of Brokers in Recommendation Summary: 5

Consensus Earnings

FY10 FY11
Consensus EPS1 (c) 41.8 41.8
EPS Growth (%)   -0.1
P/E Ratio (x) 14.7 14.7
P/E Rel. All Ords (x) 1.01 1.21
P/E Rel. Sector (x) 1.41 1.52
Number of Brokers in Earnings Survey: 4 4

1. Consensus EPS is generally "reported EPS" but will vary as to whether it is on a pre or post preference earnings basis. This number is not always on the same basis as the Aegis EPS.

Historical Forecast Earnings And Recommendations

Consensus Recommendations

Consensus information provided by Reuters.

Consensus EPS Forecasts 1

1. Consensus EPS is generally "reported EPS" but will vary as to whether it is on a pre or post preference earnings basis. This number is not always on the same basis as the Aegis EPS.

Peer Recommendation Comparison

  P/E (x) EPS Chg (%) Dividend Yield (%) MktCap ($M) Price ($) Consensus Rec
  09A 09A 09A    
Telstra Corp 10.3 10.4 8.3 42,182.0 3.36 Out Perf.
Singtel 12.8 (4.5) 4.5 37,718.4 2.37 Hold
Telstra Instalments n/a n/a n/a 12,555.3 3.09 none
Telecom NZ 8.4 (29.9) 10.8 3,476.2 1.83 Hold
Pipe Networks n/a n/a n/a 362.4 6.14 Hold

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