GBC AG: Aspermont Limited | Rating: Buy
Original-Research: Aspermont Limited - von GBC AG
Einstufung von GBC AG zu Aspermont Limited
Unternehmen: Aspermont Limited
ISIN: AU000000ASP3
Anlass der Studie: Research Report (Initial Coverage)
Empfehlung: Buy
Kursziel: 0.09 AUD
Kursziel auf Sicht von: 31.12.2022
Letzte Ratingänderung:
Analyst: Julien Desrosiers; Felix Haugg
- A rising star in the digital media service industry
- Profitable & scalable XaaS model
- Uninterrupted growth for the past 5 years
Aspermont Limited is the global leader in business-to-business (B2B) media for the resources sector. The company publishes subscription-based content services for the mining, energy, agriculture, and technology sectors. Aspermont provides services to customers all over the world. Aspermont Limited is also a global leader in business-to-business marketing.
With new management taking the reins in 2016, the company started a successful turnaround from a traditional media company into a digital B2B XaaS business model. The company has completed this turnaround in FY2020, when it posted its first EBITDA positive FY results. The company headquarters are located in Perth, Australia and they have offices in London/ UK, Belo Horizonte/Brazil and Manila/Philippines and Singapore. While the company's clients are currently concentrated in North America and Australia, accounting for 67% of their revenues, the infrastructure supporting their service offer is scalable geographically, language and sector wise. Furthermore, the current growth phase of the mining sector foretells even more fruitful days ahead. The company provides high quality subscription based content, B2B marketing leads and Wider client marketing services, such as : advertising, events and content creative as their three main revenue verticals.
Highlights:
- Digital Transformation Complete. The company posted 4 years of continuous growth and is now debt free for the first time in the past 8 years.
- XaaS Business model B2B Solution. The company deployed their Horizon platform at the beginning of their digital transformation, a tool specifically designed for this business model, and is now posting best in class KPI's.
- Scalable business. 7,4 million contacts and a new lead generation program should increase gross margin and the company's bottom line. The company should grow in new sectors and duplicate their current success recipe.
- Profitable high margin results. With increased gross margins, we project the company to post their first positive net profit FY results in FY2021e
- Ready for new growth phase. With over 7,3M AUD in cash, the company will be implementing their new growth strategy. Capital investment should increase considerably and unlock new verticals in the next 24 months.
- Future revenues projection: On this basis, we expect a profitable growth phase to begin in financial year 2021, which according to our calculations should grow by 20% YoY for the next two years. With this expected strong revenue momentum and developing economies of scale, the gross margin should increase to 60%.
Based on our DCF model we have determine a price target of 0.09 AUD per share.
Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/22774.pdf
Kontakt für Rückfragen
GBC AG
Halderstraße 27
86150 Augsburg
0821 / 241133 0
research@gbc-ag.de
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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: 13.08.2021 (09:00 am)
Date and time of first distribution: 13.08.2021 (10:20 am)
-------------------übermittelt durch die EQS Group AG.-------------------
Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.
