December 9th, 2021 | 06:11 CET
Steinhoff, HelloFresh, Aspermont: From flop to top
Table of contents:
Aspermont convinces analysts: Will the share take off after top figures?
The solid figures for the fourth quarter already indicated it. The full-year 2020/2021 figures (as of September 30) have confirmed it impressively: Aspermont Ltd. has made the leap from a publisher for the mining industry to a digital media company. The Australians are now the market leader in B2B media for the global commodity sectors and have highly scalable growth engines in the XaaS and data businesses. Operating earnings (EBITDA) climbed 288% to over AUD 1.6 million in 2020/21. Operating cash flow was AUD 2.6 million, and 70% of that already comes from recurring revenue. Net cash doubled to over AUD 7 million in the year. Alex Kent, Managing Director of Aspermont, said, "Aspermont has delivered growth across all of its businesses, except for live events, throughout FY2021 despite the pandemic. Our focus on 'quality' revenue has resulted in higher-margin growth, and as a business, we are now self-funded through positive cash flow. Our team has a long track record of developing scalable subscriptions and data-driven business models. We will organically add more products, services, sectors and geographies over the next decade."
As a result, Aspermont's stock should also turn around. The analysts at GBC see considerable upside potential. They recommend the Aspermont share with a price target of AUD 0.09 as a buy (full study: http://www.more-ir.de/d/23118.pdf). It is currently trading at AUD 0.024, corresponding to a market capitalization of around AUD 60 million. The security is also traded on the Frankfurt Stock Exchange, quoted at around EUR 0.015. From GBC's point of view, Aspermont has a unique position in the mining sector. The Company takes advantage of this and enters the lucrative FinTech business. As commodities have entered a supercycle, the timing could not be better. As a result, analysts expect the FinTech business to generate significant cash flow over the next few years. Overall, gross profits should be sustainable and growth expectations realistic.
HelloFresh disappoints with 2022 forecast: Revenue top, earnings flop
HelloFresh has published its first forecast for fiscal year 2022. According to the forecast, the cooking box shipper will continue to invest significantly in long-term growth by expanding its production infrastructure, which is already underway, and further strengthening its technology and data platform. In addition, new countries and brands are to be developed and expanded. Against this backdrop, HelloFresh expects revenue growth of between 20% and 26% in 2022. The average analyst estimates were 17.7%. On the earnings side, the Company expects adjusted EBITDA ("AEBITDA") of between EUR 500 million and EUR 580 million in the coming year. Here, analyst estimates averaged EUR 647 million. In response to the announcement, JPMorgan has reduced the price target for HelloFresh from EUR 85 to EUR 78. The rating remains at "Neutral." Due to the higher-than-expected investments, the analysts significantly cut estimates for adjusted operating profit in 2022.
Steinhoff: Light at the end of the tunnel?
At Steinhoff, on the other hand, the operating development is heading in the right direction. The German-South African Group is benefiting from the positive business performance of its subsidiaries, such as Pepkor. The Steinhoff Supervisory Board also seems to be more optimistic about the future. It wants to reintroduce a stock option program as part of management remuneration. Of course, this only makes sense for all parties involved if the Group - and thus the share - develops positively in the long term. The Supervisory Board intends to put the options program to the vote at the next Annual General Meeting. However, the share price only reacted to the encouraging news with a jump to EUR 0.23. In the meantime, the share is trading at EUR 0.13, the same level as at the beginning of the summer. The reason: the legacy issues surrounding the accounting scandal that has been smoking since the end of 2017 continue to threaten to drag the ailing retail Group into the abyss. The latest bad news was that the former Tekkie Town majority owners - among them founder Braam van Huyssteen - filed for the liquidation of the Steinhoff Group. The plaintiffs had sold their shares in Tekkie Town to Steinhoff in 2016 and received shares in the German-South African Group in return, largely losing their assets just one year later. Due to the current application, further court proceedings are suspended. Steinhoff shares will remain a plaything for gamblers until decisions are made in the various proceedings.
Things remain exciting for all three shares. Aspermont is doing well operationally, and the share seems ripe for a rise. At HelloFresh, investors must first digest the disappointing forecast, and Steinhoff remains a gambler's stock.
Conflict of interest
Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may in the future hold shares or other financial instruments of the mentioned companies or will bet on rising or falling on rising or falling prices and therefore a conflict of interest may arise in the future. conflict of interest may arise in the future. The Relevant Persons reserve the shares or other financial instruments of the company at any time (hereinafter referred to as the company at any time (hereinafter referred to as a "Transaction"). "Transaction"). Transactions may under certain circumstances influence the respective price of the shares or other financial instruments of the of the Company.
Furthermore, Apaton Finance GmbH reserves the right to enter into future relationships with the company or with third parties in relation to reports on the company. with regard to reports on the company, which are published within the scope of the Apaton Finance GmbH as well as in the social media, on partner sites or in e-mails, on partner sites or in e-mails. The above references to existing conflicts of interest apply apply to all types and forms of publication used by Apaton Finance GmbH uses for publications on companies.
Apaton Finance GmbH offers editors, agencies and companies the opportunity to publish commentaries, interviews, summaries, news and etc. on news.financial. These contents serve information for readers and does not constitute a call to action or recommendations, neither explicitly nor implicitly. implicitly, they are to be understood as an assurance of possible price be understood. The contents do not replace individual professional investment advice and do not constitute an offer to sell the share(s) offer to sell the share(s) or other financial instrument(s) in question, nor is it an nor an invitation to buy or sell such.
The content is expressly not a financial analysis, but rather financial analysis, but rather journalistic or advertising texts. Readers or users who make investment decisions or carry out transactions on the basis decisions or transactions on the basis of the information provided here act completely at their own risk. There is no contractual relationship between between Apaton Finance GmbH and its readers or the users of its offers. users of its offers, as our information only refers to the company and not to the company, but not to the investment decision of the reader or user. or user.