Reports first-half FY23:
Sales of $33.2bn, up 4.0%
EBIT of $1.64bn, above consensus expectations of $1.55bn
Net profit (before significant items) of $907m, p 14.0%
Interim dividend of 46 cents, up 17.9% (ex-dividend on March 2nd)
“Food inflation continued to rise during the half reflecting industry-wide cost pressures with Q2 average price growth of 7.7%, marginally higher than Q1 growth of 7.3%.”
“Our first half result benefitted from a focus on improving our customer shopping experience, restoring our operating rhythm, the non-recurrence of material COVID costs in the prior year and strong seasonal trading.” - CEO Brad Banducci
Current trading and outlook
Strong start to 2H23, with Australia food sales growth of 6.5% in the first seven weeks of the second half
Cost growth in 2H will benefit from the non-recurrence of Covid-related costs
“However, cost inflation in areas like wages, energy and supply chain remains material and well above recent history.”
Big W sales remain strong, up 9.7% and “well positioned” in the current environment
Reports first-half FY23:
Group EBITDA of $16.0m, down 10%
Net profit after tax of $10.7m, up 117%
Interim dividend of 2 cents per share (ex-dividend on March 6th)
Committed funds under management of $5.8bn, up 36%
“We have experienced strong deployment primarily attributed to traditional financiers retreat from the commercial real estate (CRE) sector, which allows us to be cautious and selective in our investment decisions.” - Managing Director Andrew Schwartz
FY23 guidance:
Reaffirmed FY guidance of net profit before tax between $30-33m
Dividend payout ratio between 50-95% of operating earnings
“The market expects interest rates to continue to rise in the first half of 2023. The lagged impact on CRE is likely to be seen in the second half of the calendar year, and could lead to further withdrawals of liquidity in the market and asset value recalibration.”
Above environment expected to favour Qualitas
Reports FY22:
Customer visits of 480m, up 16%
Business partner sales of $26.7bn, up 21.0%
Operating profit of $1.02bn, up 20.8%
Funds from operations 20.06 cents per share, up 20.6%
Full year dividend of 15.7 cents, up 10.5%
FY23 guidance:
Funds from operations of 20.75 to 21.25 cps, in-line with consensus expectations of 21 cps
Distributions of at least 16.50 cps
Reports first-half FY23:
Revenue of $116.6m, up 2%
Interest revenue of $9.4m vs. $2.3m a year ago, offset by lower establishment fees
Underlying EBITDA of 13.4m, down 50% and well-below consensus expectations of $17m
Underlying net profit of $0.7m, down 95%
Profit impacted by non-cash impairment of $121.3m to reduce carrying value of PFS and Sentenial Group
Cash balance of $79.2m, up 7%
Full-year guidance:
Revenue of $235-245m vs. $246.8m expected
EBITDA of $26-34m vs. $29m expected
Underlying net loss of $4m vs. $8.0m expected
Reports FY:
FY NPAT $207.3m against expectations of $211m
Revenue $1.92bn against expectations of $1.90bn
EBITDA $692.7m against expectations of $702m
Special Dividend
The SID with BHP permits, subject to certain conditions, OZ Minerals to declare and pay OZ Minerals shareholders a Special Dividend prior to implementation of the Scheme
Prior to the Scheme meeting, the board intends to declare a fully franked Special Dividend of A$1.75 per share, such dividend conditional on the Scheme becoming effective
Repeats FY23 Guidance:
Copper production (t) 120-143K
Gold production (Oz) 191-213K
AISC (US cents/lb) 187-207
C1 Cash Costs (US cents/lb) 133-153
Reports 1HFY23:
NPAT of $9.1m down -35% vs. 1HFY22 of $14.1m
Missed consensus of $11.9m NPAT
Revenue of $152.3m vs. $173.4m IHFY22 (-13%)
Presales of $509m vs. $560m in 1HFY22 (-9%)
Interim dividend of 13c (100% franked) payable 28 April
Outlook:
Strong H2 expected, according to management
10,500 undeveloped lots/dwellings across four states
“Positioned well for any market upturn” More acquisitions in the pipeline
Reports 1HFY23:
NPAT of $14.8m vs. $44.5m in 1HFY22 (-66%)
Revenue of $292.6m vs. $307.6m in 1HFY22 (-5%)
EBITDA of $73.1m missed expectations of $83m
Cash and bullion together equal $253.3m
NPAT includes non-cash tax cost of $5.1m
Outlook:
Full FY23 production guidance of 260Koz - 275Koz
All In Sustaining Cost of $1,950-$2,050/oz
AISC includes $110/oz in noncash inventory charge
Reports first-half FY23:
Underlying NPAT loss of $8.6m vs. $15.1m in 1HFY22
Statutory loss of $407.1m
EBITDA of $44.2m vs. $102m in 1HFY22
Group gold production of 124.6Koz
All In Sustaining Cost of $2,576/oz
Reports first-half FY23:
Profit after tax of $5m in line with guidance of $4.5m-$5m
Revenue of $36.6m vs. $35.2m in 1HFY22 (+4%)
Statutory NPAT of $1m vs. $5.4m in 1HFY22 (-81%)
Interim dividend of 2c (100% franked)
Dividend payable on 16 March
Outlook and guidance:
“Remains well positioned to benefit from policy, market and investor tailwinds”
“Operating leverage expected to emerge from end of FY24 with target of $100m+ in revenue”
Reports H1:
Revenue $378.2m (up 35% from last year) against expectations of $354.9m
Underlying NPAT $108.5m (up 40% from last year) against expectations of $109.3m
Interim dividend A$0.066/share (+39% on 1H22) (fully franked); record 13-Mar, payable 6-Apr
FY Guidance (Jun 2023):
WiseTech confirmed FY23 guidance and updated for its acquisition of transport management system software company Envase Technologies.
EBITDA ex-M&A costs $380-412m vs prior guidance $385-415m
Revenue $790-822m vs prior guidance $755-780m
Reports H1:
H1 underlying NPAT $71.7m against expectations of $74.5m
Revenue $1.15bn against expectations of $1.21bn
Underlying EBITDA $182.3m against expectations of $191m
Underlying EBIT $113.9m against expectations of $122.7m
Network sales $1.97bn against expectations of $2.08bn
Dividend 67.4cps, 60% franked, record 1-Mar, 16-Mar
357 new stores added (+79 organic, +278 acquired), +11.1% of the network
From management:
"Domino's anticipates Same Store Sales growth will be below the medium-term outlook of +3-6% growth, as a result of most-recent tumultuous trading conditions.
“Domino's management is confident in the ability to return to positive Same Store Sales growth once it is able to balance the value equation for customers."
Same Store Sales Growth is anticipated to be lower than 3-5 Year Outlook, as a result of most-recent tumultuous trading conditions
New Store Additions, are still anticipated to be strong, but may be below our 3-5 Year Outlook depending on short-term franchisee sentiment
Reports first-half FY23 results:
Revenue of $665m, up 22% EBITDA of $354.4m, up 181%
Profit after tax of $203m, up 49%
Cash and bullion of $593.8m, up 46%
Interim dividend of 1.06 cents per share, up 47%
“Perseus will review the full year performance and may choose to declare a bonus dividend to supplement the base dividend, as it did in FY2022.” - CEO Jeff Quartermaine
Outlook:
“Perseus expects this positive trend of improved earnings and cashflow to continue in line with its corporate objective of producing more than 500,000 ounces of gold per year.”
FY23 gold production guidance of 498,370 to 528,370 ounces
FY23 all-in site cost of US$1,000 to $1,100 per ounce
Reports FY22 results:
Revenue of $3.57bn, up 66%
Adjusted EBITDA of $1.22bn, up 150%: Below consensus expectations of $1.28bn
Net income of $771m, up 307%
Saleable production of 16m tonnes, down -7.2%
Average realised met coal price of $265.8/t, up 92.6%
Mining cost per tonne sold $88.4/t, up 34.5%
Capital expenditure of $185.4m, up 103%
Final dividend of 0.5 US cents per share (ex-dividend on March 14th)
FY23 guidance:
Saleable production of 16.8-17.2m tonnes
Mining cost per tonne of $84-87 a tonne
Reports first-half FY23 results:
Normalised EBITDA of $67.2m, up 5.7%
Normalised underlying net profit of $40.4m, up 0.3%
Statutory net profit of $35.5m, up 18.1%
Interim dividend of 58 cents per share, up 70.5% (ex-dividend on March 9th)
Outlook:
“MMS expects many of the trading environment experiences of the first half of FY23 to remain similar for the remainder of FY23.”
Carryover of circa $27m of revenue for future periods
1H23 vehicle supply dynamics to persist
Reports first-half FY23:
Underlying revenue of $466m, up 42.4%; Beat $448.5m expected
Underlying EBIT margin of 31.3%, up 10 bps
Underlying net profit of $46.7m, up 52.4%
Dividend per share of 17 cents, flat compared to a year ago
Outlook and guidance:
FY23 underlying net profit guidance upgraded to $112.9-121.4m
Represents growth of 52.5% to 64% on FY22
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