MedservRegis

MSE: MDS

Market Cap€37.4m

Last Close €0.69

MedservRegis is a Malta-based provider of integrated offshore logistics and services in support of drilling operations in the Mediterranean, MENA and South America. The METS companies provide OCTG services in the Middle East and beyond and Regis adds base management and logistics operation in sub-Saharan Africa.

More MedservRegis content >

Investment summary

The reverse takeover by Regis Holdings in June 2021 strengthens the balance sheet and leaves MedservRegis well positioned to pursue growth opportunities around the globe in both existing and new markets. As global oil markets progressively recover from the effects of the pandemic and the related unprecedented declines in demand, MedservRegis is ideally situated to participate in many of the largest energy projects scheduled over the next five years. The recomposed management team is focused on returning the group to profitability, facilitating the resumption of dividends, as well as refinancing the company to lower debt costs.

Y/E Dec
Revenue (€m)
EBITDA (€m)
PBT (€m)
EPS (c)
P/E (x)
P/CF (x)
2018A 36.2 6.3 (3.4) (6.76) N/A 5.6
2019A 68.7 11.5 1.1 1.2 57.5 5.4
2020E N/A N/A N/A N/A N/A N/A
2021E N/A N/A N/A N/A N/A N/A
Industry outlook

MedservRegis operates in the upstream oil and gas segment, providing onshore bases in the Mediterranean, the Middle East, sub-Saharan Africa and the Americas for onshore and offshore exploration and production customers. The METS business added onshore OCTG services to the historical integrated offshore services offered on an increasingly global basis. As new territories are brought on stream the potential for future revenue growth remains, which the Regis deal should augment further.

Last updated on 30/09/2021
Content on MedservRegis
MedservRegis – Reverse takeover transforms prospects
Industrials | Outlook | 21 October 2021
17dec14_MEDSERV_MEL_0682
Medserv – Proposed share exchange for Regis Holdings
Industrials | Flash note | 12 April 2021
17dec14_MEDSERV_MEL_0682
Medserv – Moving to the next phase
Industrials | Update | 10 December 2019
17dec14_MEDSERV_MEL_0682
View more
Register to receive research on MedservRegis as it is published
Share price graph
Balance sheet
Forecast net debt (€m) 44.9
Forecast gearing ratio (%) 56
Price performance
%
1m
3m
12m
Actual (7.3) (7.3) 13.0
Relative* (7.3) (7.2) 3.6
52-week high/low €0.8/€0.5
*% relative to local index
Key management
Anthony S. Diacono Chairman
Silvio Camilleri CFO
Dave O'Connor Group CEO