Reporting Today (3PL, APA, AGF, ABC, APT, AMI, ANG, AOF, AVG, BVS, GOZ, IEL, ILU, IGL, MPL, NSR, NEC, NST, ORE, PTM, SVW, WTC, WOR, Z1P)

UPDATED 25/08/2021 10:22

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Reporting Calendar: Download here

Companies reporting today include: 3P Learning Ltd. (3PL), APA Group (APA), Acrow Formwork & Construction (ACF), Adbri Ltd. (ABC), Afterpay Ltd. (APT), Aurelia Metals Ltd. (AMI), Austin Engineering Ltd. (ANG), Australian Unity Office Fund (AOF), Australian Vintage Ltd. (AVG), Bravura Solutions Ltd. (BVS), Growthpoint (GOZ), IDP Education Ltd. (IEL), Ive Group (IGL), Iluka Resources (ILU), Medibank Private (MPL), National Storage REIT (NSR), Nine Entertainment (NEC), Northern Star (NST), Orocobre (ORE), Platinum Asset Management (PTM), Seven Group (SVW), Wisetech (WTC), Worley (WOR), Zip Co. (Z1P)

Companies on MM’s radar include:

Afterpay (APT) FY21 Results: Expectations for revenue of $941m, EBITDA of $101.36m, Loss of $27m. All about growth guidance both top line & margins, market currently pricing revenue for FY22 of $1.56bn, up ~81% on FY21. (MM Comment…APT have delivered revenue of $924m which is a tad light, income margins of 3.9% flat on FY20, net margin 2.1% down from 2.3%. 98k merchants, 16.2m customers +63% – always about the growth story from here – SQ US was flat overnight so the reaction today will be all about this report. Overall, solid growth)
Bravura Solutions (BVS)FY21 Results: Expectations for revenue of $243.7m, EBITDA of $50m, NPAT of $32.4m (down ~19% on FY20), EPS of $0.132, FY Dividend $0.094. Market currently pricing NPAT for FY22 of $40m, up ~24% on FY21. (MM Comment…BVS have reported an inline result this morning for FY21, all metrics very close to expectations however guidance for mid teen growth at the NPAT line in FY22 is an issue, that implies ~$38m profit, the market is at $42m. They do see increasing market confidence in the UK which is key for them and they also announced CEO transition after 10 years in the job, with current CTO Nick Parsons taking over as CEO having been with BVS since 2007. FY21 inline, guidance a miss)
National Storage REIT (NSR) FY21 Results: Expectations for revenue of $202m, EBITDA of $111.87, NPAT of $87m (up ~28% on FY20), FFO per share of $0.085, FY Dividend $0.081. Market currently pricing NPAT for FY22 of $107m, up ~23% on FY21. (MM Comment…Solid result, earnings inline, dividend inline + upgrade to FY22, market was at NPAT of $107m, company saying at least $110m, ~3% upgrade..Overall, a beat on guidance)
IDP Education (IEL) FY21 Results: Expectations for revenue of $542m, EBITDA of $113m, NPAT of $47.8m (down ~32% on FY20), EPS of $0.168, FY Dividend $0.121 Market currently pricing NPAT for FY22 of $108m, up ~125% on FY21. (MM Comment…Revenue a miss, EBIT a miss & profit a miss…Overall, a miss)
Ive Group (IGL) FY21 Result: Expectations for revenue of $670m, EBITDA of $85m, NPAT of $30.85m (down~5% on FY20), EPS of $0.226, FY Dividend $0.122. Market currently pricing NPAT for FY22 of $30m, flat on FY21. (MM Comment…results broadly in line with guidance, cash flows ahead and final dividend ahead. Looks to be tracking well… Overall, solid)
Platinum Asset Management (PTM) FY21 Results: Expectations for revenue of $317m, EBITDA of $2226m, NPAT of $165m (up ~6% on FY20), EPS of $0.277, FY Dividend $0.252. Market currently pricing NPAT for FY22 of $146.8m, down ~11% on FY21. (MM Comment…)
Zip Co (Z1P) FY21 Results: Expectations for revenue of $389m, EBITDA of -$143m, Loss of $206m. All about growth guidance both top line & margins, market currently pricing revenue for FY22 of $625m, up ~60% on FY21. (MM Comment…)