Superloop: High quality result with positive 2H FCF & NPATA

About the author:

Nick Harris
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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