Helloworld: There is so much more to come

About the author:

Belinda Moore
Author name:
By Belinda Moore
Job title:
Senior Analyst
Date posted:
29 August 2023, 8:30 AM
Sectors Covered:
Agriculture, Food & Beverage, Travel and Chemicals

  • After three profit upgrades, Helloworld's (ASX:HLO) FY23 result came in at the top end of guidance. The strength of its EBITDA margin was a highlight. Importantly, the company also produced better than expected cashflow. Given the company’s strong balance sheet, shareholders were rewarded with a larger than expected final dividend.
  • HLO provided FY24 EBITDA guidance (45-63% growth on FY23), with the mid-point 7.2% ahead of consensus. Guidance could again prove to be conservative.
  • Assuming a full recovery from COVID and reflecting recent acquisitions, we now value HLO at (login to view) per share (34% upside from here). We maintain an Add rating.

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