TLS +2.1%: A solid FY24 for TLS with a mild upgrade to FY25 earnings guidance saw the stock higher.
- The important piece being TLS narrowed its underlying Ebitda forecast for FY25 to be $8.5 billion to $8.7 billion, up from $8.4 billion to $8.7 billion
- FY24 NPAT was $1.62 billion, -16% y/y, which included some on-offs and inline with expectations
- Underlying FY24 of Ebitda $8.24 billion, +3.7% y/y and mildly better than $8.2 billion expected
- Final dividend per share $0.09 was inline
All divisions are performing well, except for Fixed Enterprise and Wholesale which they are working hard to improve. Price increases across mobile bodes well for FY25.
MM remains bullish & long TLS for income
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