{australien_flagge}Parkway Corporate (ASX: PWN; FRA: 4IP): If you only look at Parkway’s share price in the past year, you might get the impression that 2021 was a lost year. The opposite is the case, though.
Since young Managing Director Bahay Ozcakmak took the helm at the end of 2019, he completely turned the company around. The team grew from one to 30 employees and the business model is now no longer exploration, but industrial wastewater solutions, including the transformative membrane technology Bahay brought to the company. The technological expertise is authenticated by Worley, an internationally recognized engineering partner.
The industry has bright prospects for the future. IPOs of comparable companies in Europe trade at hundreds of millions of dollars in valuation. By comparison, Parkway is a lightweight at A$22 million. None of the European companies are targeting the mining industry, though. But that is precisely where Parkway already has its customers. Although the day-to-day business is more about conventional services and products, at least Parkway Solutions can demonstrate its competence and reliability. The calculation is: once customers are satisfied, confidence grows that Parkway is also good for big solutions. For some shareholders, the development of 2021 was probably too slow. We say: good things take time.
Figure 7: In two years, MD Bahay Ozcakmak has completely turned the company around. He has turned a simple explorer into a provider of industrial wastewater treatment solutions.
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