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BSA
BSA Ltd
Construction and Engineering
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Industrials
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About BSA Ltd
Commentary Volume
5
Comments
2
Fund managers
0
Past 90 days
SOURCE
ACTION
FUND MANAGER
DATE
Naos Asset Management reduced its position in BSA Ltd after the company was notified by NBN Co. that it was not among the preferred contractors for the future Field Module contract tender, materially reducing its revenue outlook. Naos Asset Management had led a recapitalisation of BSA in early 2022 and supported the company's significant operational turnaround, during which EBITDA grew from $4.1 million in FY2022 to a projected $26 million run-rate in FY2025. The fund notes the NBN Co. contract accounted for approximately 80% of BSA's revenue and that the newly awarded five-year, approximately $2 billion contract was given solely to Service Stream and Ventia. Naos had sold approximately 20% of its BSA holding in early December 2024. The fund acknowledges significant uncertainty around the business post-NBN Co., including restructuring costs of approximately $10 million, reduced smart metering contract volumes from Intellihub and Bluecurrent, and the need for BSA to rapidly scale its remaining business across Foxtel services, EV charging, and wireless infrastructure.
Quarterly Report
31 Mar 2025
.
Naos Asset Management
Reduced
Quarterly Report
§ Important Notice
The entries below are records originating from third-party statements. Thesis Tracker does not rank, recommend or endorse any fund manager, fund or security. Investment decisions should be made on the basis of the relevant Product Disclosure Statement and, where appropriate, advice from a licensed adviser.
Commentary
§ Reminder
The entries above are records originating from third-party statements. Thesis Tracker does not rank, recommend or endorse any fund manager, fund or security. Investment decisions should be made on the basis of the relevant Product Disclosure Statement and, where appropriate, advice from a licensed adviser.
Frequently asked questions about BSA Ltd (ASX:BSA)
Frequently asked questions
Who is investing in BSA Ltd (ASX:BSA)?
Fund managers including Naos Asset Management and Lanyon Investment Fund have invested in BSA Ltd (ASX:BSA).
What is the short interest in BSA Ltd (ASX:BSA)?
According to ASIC filings, there is negligible or no short interest in BSA Ltd (ASX:BSA).
What does BSA Ltd (ASX:BSA) do?
BSA Ltd. provides installation and maintenance solutions for the broadcast and telecommunications industries. Through its Communications and Utility Infrastructure (CUI) segment, the company delivers essential services to the telecommunications, subscription television, and utility sectors. Founded on July 1, 1999, BSA Ltd. is headquartered in Chatswood, Australia. The firm specializes in infrastructure support, facilitating network reliability and operational efficiency for clients across its core markets.