ASX:SPZ
Smart Parking Ltd
Investment Summary
The fund managers believe that Smart Parking Ltd. (SPZ) is experiencing significant momentum, particularly following their impressive achievement of meeting their ambitious growth targets. Initially aiming for 1,500 sites under management by December 2024, SPZ reached this goal in October 2024, well ahead of schedule. The fund managers are optimistic about the company's continued growth, with management now targeting 3,000 sites by 2028. In their opinion, while the target may seem ambitious, SPZ's past performance in exceeding expectations suggests they have the potential to achieve this goal, with the business set to generate meaningful EBITDA growth.
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
Commentary From The Manager
Mereweather Capital
Date
30 Nov 2024
Price
$0.89
Medium
Monthly Report
Commentary
Mereweather Capital Inception Fund continues to hold its position in Smart Parking (SPZ), following the company’s impressive achievement of reaching 1500 parking sites under management, ahead of their original target. With $5.4 million in EBITDA for Q1, the company is on track to meet growth expectations despite the rapid expansion. Management has set an ambitious target of 3000 sites by 2028, which could result in significant EBITDA growth. Although the goal seems challenging, SPZ's track record of exceeding expectations gives confidence in its potential.
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.