##{"id":84816,"date":"2020-02-11T09:13:14","date_gmt":"2020-02-10T22:13:14","guid":{"rendered":"https:\/\/www.fnarena.com\/?p=84816"},"modified":"2020-02-11T09:13:14","modified_gmt":"2020-02-10T22:13:14","slug":"research-parkd-the-future-parking-enterprise","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2020\/02\/11\/research-parkd-the-future-parking-enterprise\/","title":{"rendered":"RESEARCH: PARKD, The Future Parking Enterprise"},"content":{"rendered":"

Pitt Street Research initiates coverage of PARKD, provider of modular car parking solutions.<\/em><\/p>\n

By Pitt Street Research<\/p>\n

PARKD Limited ((PKD)) is a Western Australia-based construction technology company that provides temporary and permanent modular car parking structures of up to six levels (including ground level).<\/p>\n

PKD’s solutions can be deployed by various end users, which significantly expands the company’s total addressable market.<\/p>\n

Innovation to disrupt traditional construction methods<\/strong><\/p>\n

The modular design of PKD’s car parks delivers additional flexibility and cost efficiencies compared to traditional structures. PKD uses prefabricated concrete-based components, customised as per user’s requirement.<\/p>\n

Moreover, PKD outsources the production of its components to construction companies such as Reinforced Earth, Westkon and Delta Precast.<\/p>\n

This helps lock in cost synergies and gain expert involvement for product development and improvement. Also, as components are manufactured off-site and deployed on-site, the overall construction time is significantly less than in the case of traditionally constructed car parks.<\/p>\n

We believe this provides a substantial value-add to end customers and should underpin PKD’s acceptance in target markets.<\/p>\n

Federal infrastructure spending fuels growth<\/strong><\/p>\n

In the 2019 budget, the Australian Federal government created a $650m National Commuter Car Parks fund. Driven by this investment, a number of car park projects around commuter transport hubs are expected to be constructed in the medium term.<\/p>\n

We believe that with a scalable low-cost operating model, PKD has a considerable growth opportunity by participation in this infrastructure spending having already won technical design works for 3 commuter car parks in Sydney.<\/p>\n

First successful delivery underpins future growth<\/strong><\/p>\n

In FY2019, PKD was paid in full for its first project after a lease period of 6 months to City Subaru. The car park was assembled at their dealership in 12 days and delivered, turn-key, in 16 weeks, virtually half the time when compared to traditional construction.<\/p>\n

We believe the successful delivery of this car park has improved PKD’s visibility in the industry and lay the groundwork for receiving additional work.<\/p>\n

However, for the sake of conservatism, we will wait for management to scale up operations, win additional project tenders and engage with more clients, before conducting a financial valuation of the company.<\/p>\n

Download the full report<\/strong><\/p>\n

Earlier today the report above was released by Pitt Street Research for which FNArena is a partner in distribution. The full report can be accessed here:<\/p>\n

https:\/\/www.fnarena.com\/index.php\/pitt-street-research\/PKD\/<\/a><\/p>\n

Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n

FNArena is proud about its track record and past achievements: Ten Years On<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"