The Crown Resorts Ltd (ASX: CWN) share price has been resilient this morning after the company released its annual result for the year to 30 June 2020. At the time of writing, the Crown share price was down just 0.53% to $9.44 following the release.

What was in the announcement?

Crown reported earnings before, interest, tax, depreciation and amortisation (EBITDA) of $504.6 million, these were down 40.6% compared to the prior year.

Reported net profit after tax was $79.5 million, a drop of 80.2%. According to Crown’s CEO, Ken Barton, the company was directed to close its gaming activities and a significant part of its non-gaming operations at Crown Melbourne and Crown Perth for a significant amount of the financial year. Mr Barton stated that these closures were reflected in the company’s financial results.

Crown incurred costs related to its government mandated closures of $81.6 million which affected its results. It also recorded significant items of $78.7 million after tax which it stated were related to the impairment of Crown Aspinalls and Nobu, Crown Sydney pre-opening costs and costs related to a reassessment of DGN contingent consideration.

The company announced that the construction of Crown Sydney remained on track and it expects the asset to open to the public in December as scheduled.

Crown determined that, although its dividend policy is to pay 60 cents per share on a full year basis subject to the company’s financial position, that it would not pay a final dividend for the period. The company stated that this was due to the impact of mandatory closures on Crown’s business and uncertainty surrounding the resumption of trading at Crown Melbourne. It stated that future dividends would be subject to Crown’s financial position at the time. 

About the Crown share price

Crown is one of Australia’s largest entertainment groups. It operates resorts, casinos, bars, restaurants and online betting facilities. Crown has been listed on the ASX since 2007.

The Crown share price is up 67.38% from its 52-week low of $5.64, however, it is down 21.46% since the beginning of the year. The Crown share price is down 16.97% since this time last year.

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Motley Fool contributor Chris Chitty has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Crown Resorts Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The EML Payments Ltd (ASX: EML) share price surged more than 8% in early trade after the company released its financial report for FY20. The EML share price has since pulled back slightly and is trading for $3.43 at the time of writing.

How has EML performed in FY20?

Earlier today EML released its annual report and results for FY20.

The company’s report was highlighted by record revenue for the financial year of $121.6 million, a 25% increase from the year prior. Record revenue helped fuel a 17% surge in EML’s net profit after tax and amortisation (NPAT) for FY20 of $24.0 million.

Other highlights from the company’s report included a 10% increase in earnings before interest, taxes, depreciation and amortisation (EBITDA) for FY20. EML also noted a 57% surge in gross debit volume (GDV) of $13.9 billion, indicating growing demand for the company’s services.

For FY20, the company’s underlying operating cash inflows surged 63% on the year prior to $35.8 million. EML also completed a $264.8 million upfront acquisition of Irish payments group Prepaid Financial Services (PFS) during the financial year.

Despite the headline figures, on a statutory basis EML reported a net loss of $5.8 million for FY20. The company cited the unprecedented challenges of the COVID-19 pandemic as having an impact.

EML’s management noted that prior to the pandemic the company was performing strongly. The company’s gift and incentive segment contributed approximately 65% to group revenue in the first half of FY20. According to EML, gift and incentive GDV declined by 26% in March, 53% in April and 39% in May, with signs of recovery in June.

EML also noted that the company $118.4 million cash on hand and will not be paying a final dividend.

What is the outlook for EML?

EML Payments is an Australian fintech company that provides the technology solutions for payouts, gifts, rewards and supplier payments. The company has a large presence in Australia, North America and Europe, issuing mobile, virtual and physical card solutions.

In its investor presentation, EML highlighted that the company continues to sign new contract with customers in each segment. Despite hints of a recovery, the company expects impacts of the COVID-19 pandemic to continue into 2021.

The company has cited various headwinds including lower foot traffic in retail centres and social distancing measures to impact retail sales. As a result, EML has refreshed its strategy in order to drive growth over the next 3 years.

In order to fuel growth, EML has launched its ‘Project Accelerator’ strategy, which is designed to expand the company’s presence in the tech space. EML also cited its strong capital position which will help the company withstand further impacts of the pandemic.

Foolish takeaway

At the time of writing, the EML share price is trading more than 4% higher for the day. Shares in the company were up more than 8% earlier after hitting an intraday high of $3.55. The EML share price is trading more than 25% lower in 2020.

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Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Emerchants Limited. The Motley Fool Australia has recommended Emerchants Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Carsales.com Ltd (ASX: CAR) share price is on the rise this morning after the online classifieds business revealed growth in revenue and profits despite the impacts of COVID-19. At the time of writing, the Carsales share price is trading at $19.88, 2.37% up from yesterday’s closing price. Carsales.com delivered a robust set of results in a challenging environment demonstrating the strength of its Australian business and growth potential of international markets. 

What does Carsales.com do? 

Carsales.com operates the largest online automotive, motorcycle, and marine online classifieds business in Australia. Regarded as one of Australia’s original disruptors, the company has expanded into South Korea and Brazil. COVID-19 has created uncertainty in Carsales.com’s operating markets, but the trends coming out of the pandemic including continued digital adoption and increased propensity for car ownership are a positive for the business. 

How did Carsales.com perform? 

Carsales.com reported adjusted revenue of $423 million for FY20, a 1% increase on FY19. This was a strong outcome given the impact of COVID-19 and reflects good growth in the domestic and South Korean segments. This growth was partly offset by revenue declines in the domestic private and media businesses largely due to the impacts of COVID-19 in H2. 

Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 6% to $237 million, with EBITDA margins of 55% reflecting good operating leverage and strong cost control in both domestic and international businesses. Results were underpinned by earnings growth across domestic and international portfolios, including an excellent performance from South Korea which delivered 18% EBITDA growth. Diversification across product and geography is continuing with international now representing 24% of look-through revenue. 

Carsales.com ended FY20 with adjusted NPAT up 6% to $138 million. Reported NPAT declined 9% to $120 million, primarily due to a $28 million COVID-19 dealer support package. A final dividend of 25 cents per share was declared, on par with the previous year. CEO, Cameron McIntyre, said, “this is a pleasing full year result given the impact of COVID-19 on our business in the second half…..our long standing strategy to grow and diversify our business by geography and product positions us well even in a challenging operating environment.” 

What’s next for Carsales.com? 

The company says it has seen a strong rebound in demand for vehicles across multiple international markets as customers have emerged from lockdown. People have continued to migrate to digital platforms and an aversion to public transport (due to COVID-19 concerns) has increased the propensity for car ownership. While Carsales.com is not providing FY21 guidance due to uncertainty, it has observed that Australian private listing volumes have largely recovered to pre-COVID levels and lead volumes grew strongly in July. 

The Carsales share price has risen 89.9% since its March low and is up 18.4% in year-to-date trading.

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Motley Fool contributor Kate O’Brien has no position in any of the stocks mentioned. The Motley Fool Australia has recommended carsales.com Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Medical Developments International Ltd (ASX: MVP) share price returned from its trading halt and zoomed higher today.

The healthcare company’s shares were up as much as 14% to $7.15 at one stage.

At the time of writing the Medical Developments International share price has given back a good portion of these gains but remains up a solid 6% to $6.63.

Why is the Medical Developments International share price zooming higher?

Investors have been fighting to get hold of the company’s shares this morning after it announced an agreement with the Mundipharma network in Europe. This agreement will see it take back the distribution rights for its pain relief drug, Penthrox in all 27 member states in the European Union.

According to the release, Medical Developments International plans to have a hybrid model selling direct in some countries and using distributors in others.

In preparation for this, the company has already set up a European office and appointed a Head of Europe – Stefaan Schatteman. Mr Schatteman is a 15-year veteran of the Mundipharma network in Europe, having established its operations in Belgium before moving to France as General Manager. Through these roles he knows Penthrox and its market entry plans very well.

A turning point.

The company advised that it will be able to buy back the EU rights because of a significant reorganisation of Mundipharma’s business in Europe.

Mundipharma has significantly scaled back its EU staff and presence. As a consequence, Medical Developments International will buy back its rights for an amount 3 million euros, which is payable in staged instalments over the period of transition. It also includes a 5% royalty on sales capped at a maximum of 5 million euros. This will commence on 1 September when the company starts booking the sales revenue.

The company’s chairman, David Williams, believes this is a pivotal moment in the company’s history.

He said “This buyback is a turning point in the history of MVP. We are the beneficiaries of the enormous effort and expense Mundipharma has invested in pre-marketing activities, marketing approvals, patient trials, clinical data and initial market launches.”

“Mundipharma is going through a significant reorganisation. As a result of these unusual circumstances we are able to access the local European experience of well-qualified staff and all of the work and materials relating to our business,” he commented.

Acting CEO, Max Johnston, added: “Mundipharma has expended a very significant amount of funds in the pre-marketing phase and initial market entries and have done an excellent job on the preparing and seeding of the market. The separation of the MVP business from Mundipharma is collegial and friendly. Both companies are focused on building on the enormous amount of work already done and serving the needs of patients and customers.”

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Medical Developments International Limited. The Motley Fool Australia has recommended Medical Developments International Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The WiseTech Global Ltd (ASX: WTC) share price has shot out of the gates this morning following the release of the company’s FY 2020 results, which showed strong overall revenue growth.

Solid revenue growth despite strong COVID-19 headwinds

WiseTech reported solid revenue growth, despite the challenges of the coronavirus pandemic.

Total revenue for WiseTech grew to $429.4 million, up by 23% on the prior year. Meanwhile, earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 17% to $126.7 million, while EBITDA margin came in at a strong 30%. This reflected continued revenue growth and cost savings during the second half of FY 2020. However, this margin was a slight decline on the 31% achieved during FY 2019.

WiseTech recorded statutory net profit after tax (NPAT) of $160.8 million. This was up 197% on the prior corresponding period, however it does include a non-cash, non-taxed fair value gain amounting to $111.0 million. Excluding adjustments, NPAT was flat on the prior year. However, NPAT was impacted by increased investment into research and development as well as the amortisation of prior acquisitions.

The company was able to further strengthen its balance sheet, with operating cash flow increasing by 16% on the prior year.

Recent acquisitions fuelling further growth

WiseTech reported that revenue from its core platform, CargoWise, was up by 20% to $263 million during FY 2020. This was supported by large recent roll-outs following major contract wins from a range of new clients, including Hellmann Worldwide Logistics and Aramex.

Revenue attributable to newly acquired businesses amounted to $166.4 million, which was up by 29% on the prior year.

Pleasingly, WiseTech reported that the integration of its recent acquisitions is progressing well. The company commented that the coronavirus pandemic actually provided it with the opportunity to restructure earnouts in order to better deliver its CargoWise pipeline of products.

Commenting on the results, WiseTech founder and CEO Richard White said:

Notwithstanding the unprecedented challenges of COVID-19, our business has remained resilient, delivering solid revenue and EBITDA growth in FY20, in line with our guidance. Importantly, our CargoWise platform has continued to deliver strong revenue growth in FY20 through increased usage by existing customers and growth in new customer numbers. Our strategic acquisitions over the past three years have further extended our market reach, enabling us to increase our penetration of the $13 trillion global logistics and supply chain market.

Dividend and market guidance

WiseTech declared a fully franked dividend of 1.60 cents per share. This will be payable on 2 October 2020.

WiseTech Global anticipates FY 2021 revenue growth to be in the range of 9% to 19%. This corresponds to total revenue between $470 million and $510 million. EBITDA growth is expected to fall within the range of 22% to 42%.

At the time of writing, the WiseTech share price is up by 12.16%.

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Phil Harpur owns shares of WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of WiseTech Global. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Megaport Ltd (ASX: MP1) share price is pushing higher on Wednesday after the release of its FY 2020 results.

At the time of writing the network as a service provider’s shares are up 1.5% to $14.82.

How did Megaport perform in FY 2020?

For the 12 months ended 30 June 2020, Megaport’s strong growth continued with a 66% increase in revenue to $58 million.

On a recurring basis, at the end of the period the company’s monthly recurring revenue (MRR) had reached $5.7 million. This was an increase of 57% year on year and equates to $68.4 million on an annualised basis.

Given that Megaport is investing heavily in its future growth, it continues to operate at a loss. It recorded a net loss of $47.7 million for FY 2020. Despite this, it has a very strong balance sheet with a cash position of $166.9 million.

What were the drivers of Megaport’s growth?

Megaport drove consistent increases in all metrics across all regions in FY 2020.

This includes its footprint in data centres globally, which grew 22% to 366 installed locations and 27% to 669 enabled locations.

Strong demand thanks to the shift to the cloud and its expanding footprint led to Megaport’s customer base increasing by 352 or 24% to 1,842. Management advised that customers grew across many verticals, but Financial Services, Manufacturing, Healthcare, and Digital Media continue to perform exceptionally well. This is a result of increased demand for cloud connectivity and data requirements within vertical-specific digital supply chains.

Also growing strongly were its Ports and Megaport Cloud Routers (MCRs), which were up 42% and 75%, respectively. This led to Total Services increasing by 5,151 or 45% to 16,712. This includes a 53% increase in Virtual Cross Connections to 9,248.

Management commentary.

Megaport’s Chief Executive Officer, Vincent English, said, “The Company has reached $5.7 million in monthly recurring revenue, a 57% increase from last year. This growth is underpinned by our North American business contributing $26.3 million this fiscal year, an increase of 94% from FY19.”

“Our continued global expansion to key locations in Europe, Asia Pacific, and North America has enabled Megaport to reach 23 countries, and 669 enabled locations including 366 installed data centres in 128 cities globally. Our expansion into Japan with the enablement of Tokyo and Osaka has unlocked new opportunities as Megaport is the first global neutral interconnection fabric in the market,” he added.

Outlook.

Mr English believes that its performance in FY 2020 has put the company on a path to become EBITDA breakeven in the near future.

He commented: “Megaport’s performance in Fiscal Year 2020 has positioned the company on a path to profitability. We are driving our business to achieve EBITDA breakeven on an exit run rate basis in Fiscal Year 2021. With the investments we’ve made in our people, technology, and network footprint, Megaport is well positioned to achieve our revenue and profitability objectives.”

A key driver of this looks like to be in recently announced Megaport Virtual Edge offering.

“The development of Megaport Virtual Edge and our collaboration with Cisco to enable SD-WAN capabilities will unlock a new level of value for our customers and enable more businesses to take advantage of Megaport’s industry-first elastic interconnection platform,” he explained.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Corporate Travel Management Ltd (ASX: CTD) share price is on watch this morning after the company revealed an $8.2 million loss.

The travel agent saw revenues collapse as global travel markets shut down earlier this year thanks to the coronavirus pandemic. Nonetheless, Corporate Travel says it is positioned for recovery and can be profitable on a domestic-only model. 

What does the company do? 

Corporate Travel is a travel solutions provider with a focus on the corporate market. It recorded EBITDA of $150.1 million in FY19 which generated a statutory profit of $86.2 million. But the sudden shutdown in travel markets this year saw volumes dry up in March.

Corporate Travel responded rapidly with redundancies and other cost reductions to stem losses. One of the few not to raise capital during the COVID-19 downturn, the travel company did, however, delay its interim dividend in March. 

How did Corporate Travel perform in FY20? 

Corporate Travel  reported underlying EBITDA of $65 million for FY20. This gave underlying net profit after taxes of $32 million but a statutory loss of $8.2 million.

The less-than-stellar results are expected given the turmoil in global travel markets. Border closures have dramatically reduced travel spend during the second half, with client activity reaching its lowest point in April 2020.

Positively, Corporate Travel reported a better than expected Q4 performance. Revenue averaged $11.5 million a month compared to $2–$5 million a month in May. This was due to its high level of exposure to clients in essential services industries who have been permitted to travel despite restrictions.

The company has established a solid platform for growth with client retention above 97% and new business wins in all regions. 

With a strong liquidity position and no debt, Corporate Travel is positioning itself for recovery. It has $60 million cash net of client cash and creditors and no further significant one-off costs expected in FY21. The deferred interim dividend has been cancelled in order to preserve funds. 

What’s next for Corporate Travel? 

Corporate Travel is seeing a significant contribution from essential services travel, which provides recurring revenues.

With a focus predominantly on domestic travel, managing director Jamie Pherous says the business model “positions the business for a rapid return to profitability with only a marginal increase in domestic travel activity from current levels”.

Given ongoing uncertainty around travel restrictions, the company has declined to provide FY21 guidance, but says an extended period with no international travel is likely to create opportunities for industry consolidation.

Corporate Travel will consider potential acquisitions that align with its strategy and says it is well-positioned to pursue these opportunities. The Corporate Travel share price was trading at $12.14 at yesterday’s close.

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Motley Fool contributor Kate O’Brien has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The stars are aligning for the OZ Minerals Limited (ASX: OZL) share price. The miner posted a big rise in earnings this morning and the outlook for its key commodities is shining bright for 2021.

The news sent the OZL share price jumping 2.1% to a nine-year high of $14.39 in early trade as the S&P/ASX 200 Index (Index:^AXJO) gained 0.1%.

The copper and gold miner posted an 82% surge in first half net profit to $79.8 million on the back of a 37% uplift in revenue to $575.7 million.

The good result allowed OZ Minerals to keep its interim dividend steady at 8 cents a share. Some may find somewhat miserly given the big rise in profit and operating cash flow to $150.7 million ($49.5 million higher than 1H 2019).

OZ Minerals rockin’ profit results

Good thing OZ Minerals has never been regarded as an income stock with its yield consistently coming in at or below CPI.

The reason to buy OZ Minerals is because its very well placed to benefit from copper and gold. The precious metal in particular is a big reason why the miner delivered a big uplift in profits.

There are reasons to be a copper bull too, especially as Rio Tinto Limited (ASX: RIO) downgraded its copper production output by 15%, according to the Australian Financial Review.

What’s more, the world’s largest copper mine, Escondida in Chile that’s owned by BHP Group Ltd (ASX: BHP) and Rio Tinto, is also likely to produce less than expected over the next two years.

Multiple tailwinds for OZ Minerals share price

In contrast, OZ Minerals isn’t experiencing any production difficulties. If anything, its key mines are humming along very nicely and management plans to expand production.

“The ramp-up at Carrapateena during the half year has exceeded expectations with a strong performance from the underground materials handling system, production system and plant allowing an increase to production guidance,” said its chief executive Andrew Cole.

“The Prominent Hill underground is performing well, and we have seen annualised ore mining rates of ~4.5Mtpa achieved through July.”

Advancing while rivals retreat

It’s a case of making hay while commodity prices are rising. Management is recommitting $45 million in growth capex funding for Carrapateena, which is on track to achieve 4.25Mtpa run rates by year-end.

It’s also putting in up to $9 million in new growth funding for Prominent Hill to accelerate underground decline development to begin mining the western side of the Malu orebody.

A better value buy to OZL share price?

Experts believe OZ Minerals is the ASX miner with the best leverage to copper, and the underperformance of the Sandfire Resources Ltd (ASX: SFR) share price says it all.

However, one wonders if the pricing gap between the two will start to close given the big rally in the OZL share price. The stock surged by 54% over the past year when the SFR share price tumbled 12%.

Bargain hunters may find the ugly duckling more enticing if the copper price lives up to bullish expectations.

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Motley Fool contributor Brendon Lau owns shares of BHP Billiton Limited, OZ Minerals Limited, Rio Tinto Ltd and Sandfire Resources Ltd. Connect with me on Twitter @brenlau.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The size of pay cheques for ASX 200 chief executive officers is often a contentious debate.

Does anyone deserve millions of dollars per year when the Australian Prime Minister doesn’t even take home seven figures?

Or is it fair enough that people with business acumen and cerebral aptitude rake in as much money each year as celebrities and sporting heroes?

Regardless of your opinion, it can’t be denied that the leaders of our biggest public companies have a huge influence on the wealth of millions of Australians.

The Motley Fool readers likely own some shares directly, but even those who don’t, have some skin in the game through their superannuation accounts.

With one big mistake or one genius move, ASX 200 CEOs can make or break our portfolios, let alone the employment of thousands of Australians.

CEO pay inflation is slowing

The Australian Council of Superannuation Investors (ACSI) this month released its analysis regarding the remuneration of the S&P/ASX 200 (ASX: XJO) CEOs.

ACSI Chief Executive, Louise Davidson, said that scrutiny from her organisation and other investors had slowed the inflation of executive pay packets. She commented, “More boards are using sensible discretion to rein in outcomes for senior executives – demonstrated by the fact that 25 CEOs had their bonuses zeroed out where performance was not adequate, compared with only seven a year earlier.”

The upheaval this year created by the COVID-19 pandemic will challenge management teams right across the ASX 200.

“…people at every level of society have been wrestling with unprecedented changes to their work – for those who have kept their jobs – financial pain, isolation and family dislocations,” said Davidson.

She went on to say, “Against this backdrop, boards of ASX 200 companies will need to be mindful this year of how remuneration outcomes will be perceived externally, given the widespread impact of the pandemic on investors, staff, customers, governments and other key stakeholders.”

The 20 highest paid ASX 200 CEOs

ACSI compiled a league table of the highest paid ASX 200 CEOs by using a ‘realised pay’ metric. That’s the value of cash and equities actually received, rather than the accounting numbers shown in annual reports.

• IDP Education Ltd (ASX: IEL) chief, Andrew Barkla, set a new record for the highest pay in the history of the report, taking home $37.76 million.
• CSL Limited (ASX: CSL) boss, Paul Perreault, pocketed $30.5 million to rank second, with a significant gap to the third highest pay packet.
• Qantas Airways Limited (ASX: QAN) chief, Alan Joyce, who has featured prominently in the public consciousness during the Covid-19 pandemic, came in 8th with a pay packet of $12.2 million.
• Macquarie Group Ltd (ASX: MQG) chief, Shemara Wikramanayake, was not eligible for the table as she took over the position from Nicholas Moore in the middle of the company’s 2019 financial year.

On that note, let’s take a look at the top 20 chief executive ‘realised’ pay packets for their company’s 2019 financial year:

Rank	Chief executive	Company	Realised pay
1	Andrew Barkla	IDP Education Ltd (ASX: IEL)	$37,761,322
2	Paul Perreault	CSL Limited (ASX: CSL)	$30,526,634
3	Philippe Wolgen	Clinuvel Pharmaceuticals Limited (ASX: CUV)	$20,624,450
4	Michael Clarke	Treasury Wine Estates Ltd (ASX: TWE)	$19,853,177
5	John Guscic	Webjet Limited (ASX: WEB)	$16,498,937
6	Greg Goodman	Goodman Group (ASX: GMG)	$14,967,391
7	Robert Kelly	Steadfast Group Ltd (ASX: SDF)	$14,419,677
8	Alan Joyce	Qantas Airways Limited (ASX: QAN)	$12,217,400
9	Colin Goldschmidt	Sonic Healthcare Limited (ASX: SHL)	$11,912,450
10	JS Jacques	Rio Tinto Limited (ASX: RIO)	$10,323,975
11	Peter Coleman	Woodside Petroleum Limited (ASX: WPL)	$9,665,221
12	Mark Vassella	BlueScope Steel Limited (ASX: BSL)	$9.465,692
13	Mark McInnes	Premier Investments Limited (ASX: PMV)	$9,155,382
14	Bill Beament	Northern Star Resources Ltd (ASX: NST)	$8,858,086
15	Julian Pemberton	NRW Holdings Limited (ASX: NWH)	$8,815,450
16	Nigel Garrard	Orora Ltd (ASX: ORA)	$8,595,076
17	Maurice James	Qube Holdings Ltd (ASX: QUB)	$7,735,816
18	Paul Flynn	Whitehaven Coal Ltd (ASX: WHC)	$7,619,735
19	Scott Charlton	Transurban Group (ASX: TCL)	$7,609,185
20	Peter Allen	Scentre Group (ASX: SCG)	$7,452,446

Data Source: Australian Council of Superannuation Investors, Table created by Author

Foolish takeaway

As a shareholder, how you interpret these salaries is up to you.

Do you think these particular chief executives have provided value in return for the level of remuneration received?

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Tony Yoo owns shares of CSL Ltd. and Macquarie Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. and Idp Education Pty Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited, Premier Investments Limited, Treasury Wine Estates Limited, and Webjet Ltd. The Motley Fool Australia owns shares of Transurban Group. The Motley Fool Australia has recommended Scentre Group, Sonic Healthcare Limited, and Steadfast Group Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post The highest paid CEOs in the ASX 200 appeared first on Motley Fool Australia.

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The Vocus Group Ltd (ASX: VOC) share price is on watch this morning after the company released its FY 2020 results. Vocus recorded total recurring revenues of $1752.6 million. This was a slight 1% decline on the prior year .

Sharp drop in retail revenues

Overall revenues in Vocus’ retail division fell significantly by 9% over the prior year to $748 million. However, the fibre and network solutions provider did see an improvement in the decline of its consumer revenues by -3% for the full year. Meanwhile, consumer revenues were stable in the second half of the year.

Vocus continues to suffer from the impact of the migration to legacy fixed line services. This is particularly the case within in its small business division. Revenues within the division declined sharply by 27% during FY 2020.

Overheads within the retail division declined by 14% due to a disciplined cost control strategy. The overall retail business saw a strong fall in underlying EBITDA of 22% to $80.1 million. This was mainly driven a decline in EBITDA in its SMB division as well as the further migration to the NBN.

Strong growth in network services 

Vocus’s  network services division was the standout performer for the Vocus share price during FY 2020.

The division recorded EBITDA growth of 10% for the full year. This was a very strong 10% growth on the previous year. Meanwhile, recurring revenue for the division increased by 6% to $626.3 million.

Revenue from its high-margin data networks division grew 3% during FY 2020. National Broadband Network (NBN) revenue growth was particularly impressive. It was up by a massive 42% during the 12-month period.

Vocus also now has achieved a market leading position in the enterprise ethernet and business satellite product segment. Growth in Vocus’ wholesale and international division also was a strong contributor to network service growth. Further sales momentum with respect to capacity on Australia Singapore Cable was a significant reason for this.

The New Zealand division was another strong performer for the Vocus share price. Recurring revenue grew by 6% to $378.3 million.

Group managing director and CEO Kevin Russell said the FY20 results showed the company was firmly on-track in its three-year turnaround, meeting all aspects of financial guidance that was first provided in July 2019. He said:

“Vocus Network Services (VNS) built momentum in FY20, winning market share in our core markets with growing underlying recurring revenue and an improving customer profile. We also launched our new Vocus brand and saw a demonstrable improvement in brand recognition and consideration.”

Market outlook for the Vocus share price

Vocus anticipates a stronger year in FY 2021, with its network services division expected to grow by 5% during this period. Underlying EBITDA growth is expected to be in the range 8%  to 12%.

For the entire Vocus Group, underlying EBITDA is expected to be between $382 million and $397 million. While the capex range for Vocus Group is expected to be between $160 million and $180 million.

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Motley Fool contributor Phil Harpur has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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