Reporting Season

Reporting Season Round-Up: Pilbara Minerals posts 1,000% earnings jump, Allkem and MinRes miss

Fri 24 Feb 23, 9:28am (AEST)
Cityscape image of Perth downtown skyline, Australia during sunset
Source: iStock

Key Points

  • An overview of reporting season coverage for the morning of Friday 24 February 2023
  • Page will be updated live as information comes in

Pilbara Minerals (ASX: PLS): Huge earnings, maiden dividend 

Reports first-half FY23:

  • Production of 309,255 dry metric tonnes of spodumene, up 83%

  • Shipments of 286,876 dmt of spodumene, up 68%

  • Sales revenue of $2.18bn, up 647%: In-line with $2.20bn expected

  • Statutory net profit of $1.24bn, up 989%

  • Cash balance of $2.23bn compared to $591.7m a year ago

  • Inaugural dividend of 11 cents per share 

FY23 guidance:

  • Spodumene production upgraded to 600-620,000 dry metric tonnes, up from 540-580,000 dmt

  • Unit operating cost of $580-610 dmt, down from previous guidance of $635-700 dmt

Allkem (ASX: AKE): NPAT and revenue both miss expectations, but earnings smash year on year

Reports H1:

  • NPAT of US$222.5m vs. expectations of US$249.7m

  • Revenue of US$557.9m vs. expectations of US$573.7m

  • EBITDAIX of US$401.5m vs. US$97.8m in 1HFY22

  • Discontinued operations cost of -US$3.2m in the period

  • Final continuous operations profit of US$219.23m

Ardent Leisure Group (ASX: ALG) swings to profit

Reports H1:

  • H1 NPAT (cont ops) $20m, swinging from last year’s $20.2m loss

  • Operating Revenue $43.7m, up 136% from last year’s $18.5m

  • EBITDA (cont ops, ex-items) $0.3m, up from last year’s ($16.4m)

From management:

Group is well capitalised to fund its recovery and future investments, which include over $50m of new and upgraded rides and attractions

Austal (ASX: ASB) posts a $7m loss, 4c dividend

Reports H1:

  • Loss of -$2m in EBITDA vs. EBITDA of $71.1m in 1HFY22

  • NPAT loss of -$7m vs. profit of $45.1m in 1HFY22

  • Orders currently stand at $6.9m

  • Dividend of 4c (100% franked)

Outlook and guidance:

  • EBIT taret of $58m reaffirmed despite loss

  • "Continues to see potential upside from major shipbuilding opportunities"

  • Strong pipeline of orders in short-to-medium-term

  • "Well on track to achieve strategic growth target of A$500m annual support revenue by FY27"

Jumbo Interactive (ASX: JIN) posts profit growth and boost dividend

Reports H1:

  • Underlying NPAT A$18.2, up 8% on last year’s $16.8m

  • Revenue $62.4m, up 18% on last year’s $52.8m

  • EBITDA A$30.2M, up 7% on last year’s $28.2m

  • TTV $417m

  • Interim DPS A$0.239 (+4.5% pcp), fully franked; record 3-Mar; payable 17-Mar

  • Div payout ratio 84.2% – at top end targeted 65-85% range.

FY23 Outlook:

  • Reaffirms FY23 Outlook

  • Underlying operating cost growth excluding Lottery Retailing marketing costs is anticipated to moderate with Jumbo targeting an increase of 16-18%

  • Underlying EBITDA margin is anticipated to be at the upper end of the original range of 48-50%a

Brambles (ASX: BXB): Brambles boosts its full-year guidance, posts 12c dividend

Reports H1:

  • Underlying NPAT of $334.5m vs. expectations of $321.9m

  • Revenue of $2.93b mostly in line with expectations of $2.91bn

  • Underlying profit of $548m vs. expectations of $511.4m

  • Interim 12c dividend payable 13th of April

  • CFO Nessa O'Sullivan retiring

Outlook and guidance:

  • Sales revenue +12-14% vs. FY22

  • Underlying profit of +15-18% vs. FY22

  • Free cash flow after dividends to improve over FY22 "but remain a net outflow"

  • Dividend payout ratio of 45-60%

Mineral Resources (ASX: MIN) profit grows but misses expectations

Reports H1:

  • H1 underlying NPAT $388.6m against expectations of $465m

  • Revenue $2.35bn against expectations of $2.41bn

  • Adjusted EBITDA $939m (up 503% from last year) against expectations of $990m

  • Interim dividend $1.20 (fully franked); record 10-Mar, payment 30-Mar

  • MinRes achieved record lithium earnings from the conversion of Mt Marion and Wodinga spodumene concentrate into battery chemicals.

Link Administration (ASX: LNK): Soft earnings, full-year to track towards lower end of guidance

Reports first-half FY23:

  • Revenue of $592.2m, up 0.2%

  • Operating EBITDA of $128.3m, up 7.8%

  • Operating NPATA (ex-Pexa) of $38.2m, up 4.9%

  • Revenue and NPATA both missed analyst expectations

  • Statutory NPAT of -$410.1m

  • Dividend of 4.5 cents per share, up 50%


  • Reaffirmed FY23 revenue guidance of $1.19-1.22bn

  • Expects full-year result to track towards lower end of guidance


Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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