Welcome to the stock exchange, Salvos!
Earnings performance has clearly improved around the time of going public, and the medium-term targets have been drawn straight up with a ruler, as the goal is an operating margin as high as 13-15%. I find this target highly implausible in such an industry. Salvos has also likely benefited significantly recently from a permit change that now allows the construction of small buildings in yards without a building permit.
Let’s see the price first, of course, but in my opinion, they are entering the market with prospects that are a bit too rosy.