GBC AG: Aspermont Ltd. | Rating: Buy
Original-Research: Aspermont Ltd. - from GBC AG
Classification of GBC AG to Aspermont Ltd.
Company Name: Aspermont Ltd.
ISIN: AU000000ASP3
Reason for the research: Research Report (Anno)
Recommendation: Buy
Target price: 0,07 AUD
Target price on sight of: 31.12.2024
Last rating change:
Analyst: Julien Desrosiers, Matthias Greiffenberger
Continued Growth. 2023 a consolidation year. 2024e back to double digit
growth.
Single digit growth. The company continues its growth with a 3% increase in
revenue, in line with management guidance for FY2023.
Blue Horseshoe investment write off. The decision to write off the Blue
Horseshoe investment was made due to its lack of short-term profitability.
However, the company retains the intellectual property and remains open to
revisiting the venture should industry conditions improve.
Capital efficiency. The company has improved its capital efficiency by
divesting or upgrading low-margin products and events in favor of solutions
that promise higher growth and profitability.
Normalized EBITDA remains healthy, from $2.8m to $1.7m while the normalized
NPAT grew from $0.6m to $0.8m, indicating brighter future ahead.
New playgrounds. The Company has branded their marketing services branch
into a new entity called Nexus. The Company has created two sold out live
events in the past months. The company has signed an agreement with Rick
Rule, a highly prominent in the mining sector investment realm.
Management and Key operators hiring. The company hired a new Chief
Marketing officer, Group head of content and group head of research,
bringing onboard industry wide leading executives.
Focus on long term strategy. FY2024 priority is to return to double digit
growth.
Adjusted Price Target: Based on our Discounted Cash Flow (DCF) analysis, we
have adjusted our share price target to 0.07 AUD / 0.04 EUR (previously:
0.10 AUD / 0.07 EUR), reflecting our current valuation assessment.
You can download the research here:
http://www.more-ir.de/d/29121.pdf
Contact for questions
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: 11.03.2024 15:00
Date and time of first distribution: 12.03.2024 12:00
-------------------transmitted by EQS Group AG.-------------------
The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions.
