Superloop: High quality result with positive 2H FCF & NPATA
About the author:
- Author name:
- By Nick Harris
- Job title:
- Senior Analyst
- Date posted:
- 30 August 2023, 8:30 AM
- Sectors Covered:
- Telecommunications, Technology
- Superloop's (ASX:SLC) result was a beat on guidance from earlier in the year and saw the company generate positive free cash flow and NPATA in the 2H23. It was a high quality result with Underlying EBITDA up 82% YoY on a reported basis and up 46% YoY on an organic basis. Cashflow conversion was strong at 116% conversion.
- Annualising 2H23 EBITDA sees SLC start FY24 year with $50m of EBITDA and leaves plenty of upside vs consensus. Success in sales and marketing has been value creative and is likely to step up a little in FY24. We leave our forecasts largely unchanged and we retain our Add Recommendation.
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