“This was achieved even with the impact from Covid-19. AGV currently trades at a historical 33 times FY2020 enterprise value (EV) /EBITDA,” it writes in an unrated report dated July 13.
The Singapore research team at UOB Kay Hian feels there may be a turnaround in sight for AGV Group Limited.
The team notes that the steel galvanising company reversed back into a positive earnings before interest, taxes, depreciation and amortisation (EBITDA) position for the FY2020 and 1HFY2021.
