Tyro Payments: Rounding out a year of significant progress
About the author:
- Author name:
- By Richard Coles
- Job title:
- Senior Analyst
- Date posted:
- 30 August 2023, 7:30 AM
- Sectors Covered:
- Insurance, Diversified Financials
- Tyro Payments’ (ASX:TYR) FY23 NPAT of A$6m (FY22 -A$30m) was above consensus of A$2m.
- The mid-point of FY24 EBITDA guidance (A$55m) was 14% above consensus.
- Overall, we saw this as a good result, without any large weaknesses. The key positive being TYR becoming both NPAT and free cashflow positive.
- We lift our TYR FY24F/FY25F EPS by 12%-19% reflecting mainly increased assumptions around operating leverage. Our price target increases to (login to view).
- We believe TYR now has good operating momentum and we remain encouraged by management’s heightened focus on driving improved profitability.
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