Original-Research: Aspermont Ltd - von GBC AG
Einstufung von GBC AG zu Aspermont Ltd
Unternehmen: Aspermont Ltd
ISIN: AU000000ASP3
Anlass der Studie: Research Report (Anno)
Empfehlung: Buy
Kursziel: 0.10 AUD
Kursziel auf Sicht von: 31.12.2023
Letzte Ratingänderung:
Analyst: Julien Desrosiers, Matthias Greiffenberger
XaaS powerhouse in the making. 64% Gross Profit Margin. Record FY2022
results.
FY net results impacted by one-time event. The company has posted their
highest EBITDA results with 2.1M AUD but ended the financial year with a
net loss of (0.31M AUD) due to a 700k write-off of the Blue Horseshoe
investment.
Strong cash position. The company has over AUD 6.6M cash on hand.
High gross margin maintained. The company has maintained a 64% gross margin
for the FY 2022 compared to 65% for FY 2021.
Stronger EBITDA margin. The company increased their EBITDA margin from 10%
for the FY2021 to 12% for the FY2022.
Increase in recurring revenues. Aspermont grew their recurring revenues
base from 70% to 75% YoY for 2022.
Continued growth. The company is growing at a double-digit rate across the
XaaS KPIs board. Most importantly, their subscribers' ARPU has increased by
28% to a record $1538.
Delivering on promises: The company has exceeded all their FY2022
guidance.
25 consecutive quarters of growth. The CaaS model is still growing, such as
total revenues and earnings.
Based on our DCF model, with an updated market risk premium, we reviewed
our price target to 0.10 AUD / 0.07 EUR (previously: 0.11 AUD / 0.08 EUR)
per share.
Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/26465.pdf
Kontakt für Rückfragen
Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,7,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter:
http://www.gbc-ag.de/de/Offenlegung
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Date and time of completion of this research: 24.02.2023 11:00
Date and time of first distribution: 24.02.2023 12:00
Target price valid until: max. 31.12.2023
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