Heritage (US:HGBL)2022-11-02 14:35Company Overview - Heritage Global Inc (HGBL) values and monetizes industrial & financial assets through valuation, acquisition, disposition, and lending services[6] - The company operates through two divisions: Industrial Assets and Financial Assets[7] - HGBL facilitates the circular economy by diverting useful industrial assets from landfills and overseeing post-sale account activity of financial assets[8] Financial Performance - The company has a proven track record of profitability and an attractive margin profile[16] - As of June 30, 2022, HGBL had $16.1 million in cash and cash equivalents, $10.5 million in working capital, and $36.0 million in total shareholders' equity[18] - The Annual Return on Capital Employed (ROCE) for H1 2022 was 24%[18] - For the six months ended June 30, 2022, the company's operating income was $4.499 million and net income was $3.223 million, or $0.09 per diluted share[17] - Adjusted EBITDA for the six months ended June 30, 2022, was $4.979 million[17] - The company has $78 million in Net Operating Loss (NOL) carryforwards as of December 31, 2021[16] Growth Drivers - Post-pandemic industrial manufacturing landscape will increase surplus asset flows[13] - Rising consumer spending and accelerating defaults and charge-offs will increase available volume of financial assets to sell[13]