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Motley Fool Australia Chief Investment Officer Scott Phillips joined Sky News First Edition on Tuesday morning to discuss the falling iron ore price, and its impact for shareholders, the government and the Australian dollar. Plus, could the Qantas Airways Limited (ASX: QAN) advertising campaign encourage hold-outs to line up for a COVID injection?

The post Iron ore price plunge hurting most, but helping exporters. Plus, optimism the ticket to boost vaccinations. Scott Phillips on Sky News First Edition appeared first on The Motley Fool Australia.

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• 10 ASX shares we’re overweight in right now: fund
• Qantas (ASX: QAN) share price falls amid campaign to reward vaccination
• ASX 200 Weekly Wrap: Miners drag ASX back to earth
• What can we learn from the Qantas (ASX:QAN) share price history?
• How does the Qantas (ASX:QAN) share price perform during lockdowns?

Motley Fool contributor Scott Phillips has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Medibank Private Ltd (ASX: MPL) share price will be one to watch this reporting season.

With conditions improving in the sector, investors will be keen to see how the private health insurer performed this financial year.

Let’s take a look at how the Medibank share price responded last reporting season.

Here’s how the Medibank share price responded last year

The Medibank share price swung wildly after the company released its full-year results for FY20.

Investors were initially undecided on how to interpret them.

Shares in the private insurance behemoth slumped more than 2% in early trade.

Then, a wave of buying later in the day saw the Medibank share price finish more than 2% higher for the day.

For FY20, the private health insurer noted severe disruptions from the COVID-19 pandemic.

Highlights from Medibank’s FY20 financial report included;

• Total revenue from ordinary activities of $6.785 billion, down 6% from prior corresponding period (pcp) FY19’s $7.219 billion.
• Premium revenues of $6.546 billion, up 1.3% to pcp
• 3.2% increase in insurance claims on pcp
• Net profit after tax (NPAT) of $315.6 million, a 31.3% on pcp

For the full year, Medibank also announced a final, fully franked dividend of 6.3 cents per share.

The outlook for Medibank

The new year has been much kinder to the Medibank share price.

Shares in the private insurer have soared more than 18% since the start of the year, currently nudging 52-week highs.

There have been several catalysts helping fuel the company’s share price.

The initial trigger can be traced back to February after Medibank announced an increased interest in MyHealth Medical Group.

According to Medibank’s management, the investment will help the company strengthen its focus on preventative health.

A strong half-year report also helped the Medibank share price.

For the 6 months ended 31 December 2020, the private health insurer recorded a 27.3% increase in net profits after tax of $226.4 million on pcp.

Medibank also cited an increase in premiums with a drop in net claims expenses for the half year.

In addition, the company also announced a 5.8 cent, fully franked dividend.

Investors will be keeping a keen eye on Medibank’s shares tomorrow as the company releases its full-year results for FY21.

The post How did the Medibank (ASX:MPL) share price respond last earnings season? appeared first on The Motley Fool Australia.

More reading

• 10 ASX shares we’re overweight in right now: fund
• The Medibank (ASX:MPL) share price is up 18% so far in 2021. Here’s why
• 3 ASX 200 dividend shares lifting to 52-week highs
• The Medibank (ASX:MPL) share price is now trading on a forecast 3.76% fully franked dividend yield
• These 10 ASX 200 shares hit new 52-week highs this Monday

Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The 1300 Smiles Limited (ASX: ONT) share price is sparkling in afternoon trade after the company released its FY21 full-year results and announced a takeover proposal.

Tuesday has shaped up to be an eventful day for 1300 Smiles shareholders. After months of sideways trading, the dental facility owner and operator’s shares have sprung to life today, up 13.96% to $8.0.

1300 Smiles share price shines on recovery result

Highlights of the full-year results include:

• Over-the-counter revenue increased 15% to $65.8 million
• Statutory revenue up 10% on the prior year to $44.9 million
• Underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $15.2 million, up 31%
• Net profit after tax increased 35% on the prior corresponding period to $9.6 million.
• Takeover offer received from Abano Healthcare for 84% of 1300Smiles at $8.00 per share cash consideration

What happened in FY21 for 1300 Smiles

The 1300 Smiles share price is ripping ahead this afternoon after reporting a robust performance for FY21. However, it is likely a fair chunk of the price movement is attributable to the proposed majority acquisition by Abano Healthcare.

Firstly, let’s cover the dental operator’s full-year results. According to the release, the reporting period was one of recovery from the impacts of COVID-19. Despite ongoing disruptions and some restrictions, the company achieved a solid 10% increase in statutory revenue for the year.

As a like-for-like sales comparison, of the 26 dental practices in operation throughout all of FY19 and FY20, sales increased 8% from FY19 to FY21.

Since the end of the financial reporting period, 1300 Smiles has gone on to settle the acquisition of a multi-surgery dental practice in Chinchilla in Queensland. Similarly, another larger practice in Bundaberg is in its acquisition sights — being the company’s fourth.

In regards to the acquisition bid for 1300 Smiles, the company has entered into a scheme implementation agreement with Abano Bidco (a member of the Abano Healthcare Group). This agreement entails Abano acquiring 84% of 1300 Smiles.

Furthermore, the conditions stipulate a total cash consideration of $8.00 for non-founder shareholders. Meanwhile, founder shareholders will receive $6.33 per share — 81 cents of which will be contingent on certain conditions.

The company also declared a special fully franked dividend of up to 80 cents per share. According to the release, the board reserves the right to increase this to $1.10 per share.

What did management say?

Commenting on the proposal which may be impacting the 1300 Smiles share price, managing director Daryl Holmes said:

1300 Smiles is a company we have built from the ground up over many years. Abano Healthcare is a highly complementary partner for our business with a strong Australian footprint of 106 practices, largely via the Maven brand, to which 1300 Smiles high-quality portfolio of 33 practices will be added.

The future for 1300 Smiles is bright and as part of the Abano Healthcare group is well-positioned to continue the proud legacy of high-quality dental care we have provided to Australian communities for over 30 years.

Additionally, regarding the company’s FY21 result, Mr Holmes said:

This year, the business has continued to manage the challenges facing all of us from COVID-19. The business has been resilient with its staff and dentists needing to manage short-term movement restrictions and the disruptions that this provides for availability, patient bookings and the need for re-bookings.

What’s next for 1300 Smiles?

Unfortunately for shareholders, no guidance was provided with today’s results. This might be due to the company intending on being acquired by a private company.

1300Smiles investors can expect to receive a scheme booklet relating to the proposed acquisition. Upon receipt, shareholders will have the opportunity to vote on the scheme. If approved, the scheme will be implemented shortly thereafter.

Finally, any acquisition remains subject to court and foreign investment approvals.

1300 Smiles share price snapshot

Prior to today’s move, the performance of the 1300 Smiles share price had been underwhelming. Before today, the company’s shares had delivered a disappointing 8% return in the past 12 months.

While an 8% return in a year may not seem too bad, the S&P/ASX 200 Index (ASX: XJO) has returned 22% in the same period.

The post 1300 Smiles Ltd (ASX:ONT) share price leaps 14% on takeover proposal appeared first on The Motley Fool Australia.

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• NIB and Ampol share prices fall, new record for Domino’s. Scott Phillips on Nine’s Late News
• Energy sector leading the ASX 200 shares on Tuesday
• GR Engineering (ASX:GNG) share price lifts 12% on record FY21 revenue
• Oil Search (ASX:OSH) dividend reinstated following strong first-half results
• Why Ansell, Kogan, Monadelphous, & NIB shares are tumbling lower

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended 1300SMILES Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Monday night to discuss a big day of earnings, with NIB Holdings Limited (ASX: NHF), Ampol Ltd (ASX: ALD) and Domino’s Pizza Enterprises Ltd (ASX: DMP) in focus.

The post NIB and Ampol share prices fall, new record for Domino’s. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

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• Energy sector leading the ASX 200 shares on Tuesday
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• The ASX reporting wrap-up: Charter Hall, Ampol, NIB Holdings
• ASX 200 rises, NIB plummets, Sonic drops
• 2 ASX shares shining this results season

Motley Fool contributor Scott Phillips has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and NIB Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is starting this Tuesday off on the front foot. At the time of writing, the ASX 200 is up a healthy 0.4% to 7,519 points. The sector contributing the most to today’s gains is currently ASX energy shares.

As it currently stands, the S&P/ASX 200 Energy Index (ASX: XEJ) is the top-performing sector of the entire ASX 200. It’s currently up 2.48% to 7,504 points. Of the nine ASX enegy shares that make up this index, only one is currently in the red today. That would be Whitehaven Coal Ltd (ASX: WHC).

Other than Whitehaven, we are seeing some very strong moves here. At the top of the pile is Woodside Petroleum Limited (ASX: WPL). Woodside shares are currently up a very healthy 3.15% to $20.30 a share. Close on Woodside’s heels are Beach Energy Ltd (ASX: BPT) and Ampol Ltd (ASX: ALD) and Santos Ltd (ASX: STO). These ASX 200 energy shares are up 2.84%, 2.82% and 2.52% respectively. Oil Search Ltd (ASX: OSH), which reported its FY21 earnings this morning, is up 1.62% to $3.76 a share.

So why are ASX 200 energy shares outperforming today?

Well, we don’t have to look too far.

ASX 200 energy shares rise on the back of higher oil prices

A sector-wise rise (or fall) in the commodity space tends to be caused by one thing – a change in commodity prices. And we have seen this price of crude oil rally strongly over the past 24 hours.

As my Fool colleague James gazetted this morning, West Texas Intermediate (WTI) crude oil prices rose by almost 6% overnight (our time) to back over US$65 a barrel. Brent crude was also up to back over US$69 a barrel. Some good news from China in regards to its COVID oubreak, as well as a drop in the strength of the US dollar, were cited as factors here.

It’s this strength in the oil markets that are likely buoying ASX energy shares today. And this seems to have flowed through (no pun intended) to the entire ASX 200 Index this Tuesday.

The post Energy sector leading the ASX 200 shares on Tuesday appeared first on The Motley Fool Australia.

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• Oil Search (ASX:OSH) dividend reinstated following strong first-half results
• ASX 200 midday update: Kogan crashes, Nanosonics rockets
• Oil Search (ASX:OSH) share price rises on $139m profit for first-half
• 5 things to watch on the ASX 200 on Tuesday
• The ASX reporting wrap-up: Charter Hall, Ampol, NIB Holdings

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The GR Engineering Services Ltd (ASX: GNG) share price is soaring on Tuesday as the company reported its FY21 results.

The GR Engineering share price is now trading at $1.64, a 12.71% jump into the green.

Let’s uncover how GR performed this year.

GR Engineering share price lifts on record revenue and strong earnings

The company outlined a number of investment highlights in its report, including:

• Record revenue in FY21 of $392.4 million, also a 76.4% year-on-year growth schedule
• All-time record EBITDA of $37.2 million, up from $11.3 million the year prior
• Strong operational cash flows with cash at bank of $69 million – an 84% year-on-year increase
• Profit before income tax (PBIT) of $33.7 million, from a loss of $9.7 million
• Net profit after tax (NPAT) of $14.9 million, up from a loss of $4.7 million a year ago
• Final dividend of 7 cents per share, fully franked.

What happened in FY21 for GR Engineering?

The company outlined several progress points that could potentially impact the GR Engineering share price.

The most notable takeout from GR’s FY21 earnings is that it recognised record revenue of $392.4 million, which also signifies a 76% year-on-year growth.

Moreover, the company also achieved its record EBITDA this year of $37.2 million, a 292% increase.

In addition, GR reversed the loss it posted in NPAT and PBIT last year, growing both figures to around $15 million and $34 million respectively.

Moreover, the company also detailed several project completions in FY21, such as the Thunderbox past plant project and the Lake Way Potash project.

As well, the company announced a final dividend of 7 cents per share, fully franked, up from 5 cents per share in April 2021 and 4 cents per share in October 2020. Thus, shareholders will enjoy total dividends of 12 cents per share for FY21.

As such, the company recorded earnings per share (EPS) of 14.9 cents per share, well up from a loss of 4.7 cents per share in FY20.

GR Engineering consequently left the year with a net operating cash flow of $49.5 million, up from $11.2 million the year prior.

What did management say?

GR Engineering managing director Geoff Jones said:

GR Engineering achieved multiple project completions in FY21 that were on time and on budget. The safe and successful delivery of these projects reinforces GR Engineering’s reputation as a proven process engineering design and construction contractor.

Looking forward, Jones added:

Based on GR Engineering’s strong order book and balance sheet, the business is well placed to continue to deliver returns to its shareholders through FY22 and FY23.

What’s next for GR Engineering?

According to the company, GR has a “strong order book” that is concentrated in Australian projects.

Moreover, it has been “building its pipeline for both FY22 and FY23” and forecasts FY22 revenue in the range of $440 – $460 million.

In addition, GR’s order book contains five works that “will continue into FY22”, with an additional five work opportunities in the pipeline.

The GR Engineering share price has posted a year to date return of 32%, outpacing the S&P/ASX 200 Index (ASX: XJO)’s return of about 14% this year.

The post GR Engineering (ASX:GNG) share price lifts 12% on record FY21 revenue appeared first on The Motley Fool Australia.

More reading

• Energy sector leading the ASX 200 shares on Tuesday
• Oil Search (ASX:OSH) dividend reinstated following strong first-half results
• Why Ansell, Kogan, Monadelphous, & NIB shares are tumbling lower
• 4DMedical (ASX:4DX) share price lifts on 71% income increase in FY21
• The Superloop (ASX:SLC) share price slides on FY21 earnings

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Oil Search Ltd (ASX: OSH) dividend received a much-welcomed return today, after being suspended in the prior corresponding year. This came after the energy producer announced a strong first-half result for the 2021 financial year.

Undoubtedly, investors will be glad that the company has reinstated its dividend following a challenging time in its history.

Let’s take a peek at Oil Search’s first-half scorecard and the details regarding its upcoming interim dividend.

How did Oil Search preform in the first-half of FY21?

The Oil Search share price has rallied on the back of solid operational performance and strengthened market conditions.

For the 12 months ending 30 June 2021, Oil Search achieved US$667.7 million in revenue, up 7% on H1 FY20. The sound result benefited from a price recovery in oil and liquified natural gas (LNG) predominately in Asia. Higher realised prices coupled with management’s focus on reducing costs led to a significant improvement in the company’s financial health.

Furthermore, earnings before interest, tax, depreciation and amortisation and exploration (EBITDAX) also rose to US$489 million, reflecting an 8% increase.

On the bottom line, Oil Search posted a Net Profit After Tax (NPAT) of US$139 million. A stark contrast when comparing the company’s sizable US$266.2 million loss in the first-half of FY20.

In light of the robust performance, the Oil Search board decided to bump up its interim dividend to US3.3 cents per share.

Based on the current Oil Search share price of $3.76 apiece, this gives the company a trailing dividend yield of just over 1.21%. The payout ratio is 49% of H1 FY21’s NPAT.

Oil Search dividend key dates

Oil Search released the distribution amount and payment dates of its unfranked interim dividend for the 2021 financial year. Here’s a summary of the important dates Oil Search shareholders will need to know.

Ex-dividend date

The ex-dividend date will be 31 August 2021.

The ex-dividend date is when investors must have purchased Oil Search shares. If the investor does not buy Oil Search shares before this date, the dividend will go to the seller.

Record date

The record date for the Oil Search dividend is 1 September 2021.

This is the date where the company identifies which investors are on its register. Those who are on Oil Search’s books will be eligible to receive its upcoming dividend.

Payment date

The payment date for Oil Search’s final dividend will be 21 September 2021.

The post Oil Search (ASX:OSH) dividend reinstated following strong first-half results appeared first on The Motley Fool Australia.

More reading

• Oil Search (ASX:OSH) share price rises on $139m profit for first-half
• What happened to the Oil Search (ASX:OSH) share price last earnings season?
• 5 things to watch on the ASX 200 on Thursday
• Santos (ASX:STO) share price slumps following half-year results
• This leading fund manager thinks these ASX shares might be buys

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is following the lead of US markets and pushing higher. At the time of writing, the benchmark index is up 0.3% to 7,512.5 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are tumbling lower:

Ansell Limited (ASX: ANN)

The Ansell share price has sunk 10% to $36.46 after the release of its full year results. Thanks to COVID-19 tailwinds, the company reported a 57% lift in net profit to US$248 million. However, this fell short of the consensus estimate of US$256 million. Also weighing on sentiment was its outlook. Management advised that it expects demand for medical PPE to taper off as COVID-19 impacts lessen. It also warned that disruptions to its factories and suppliers could weigh on costs.

Kogan.com Ltd (ASX: KGN)

The Kogan share price is down 14% to $11.30 after the release of its full year results. For the 12 months ended 30 June, the ecommerce company reported gross sales growth of 52.7% to $1,179 million but an 86.8% decline in net profit after tax to $3.5 million. The latter was driven by inventory issues. Unfortunately, FY 2022 has started poorly, with the company reporting a small increase in gross sales and an 80% reduction in EBITDA.

Monadelphous Group Limited (ASX: MND)

The Monadelphous share price is down 13% to $10.21. In FY 2021, the engineering company reported an 18% increase in revenue to $1.95 billion and a 29% lift in net profit after tax to $47.1 million. However, its cash flow generation was poor and its outlook was soft. Management warned that revenues would be lower in FY 2022. It also advised that the shortage of skilled labour will continue to be the major challenge.

NIB Holdings Limited (ASX: NHF)

The NIB share price is down a further 5% to $6.73. This appears to have been driven by a broker note out of Citi. In response to its results yesterday, the broker has downgraded NIB’s shares to a sell rating with a reduced price target of $6.30. It was particularly disappointed with the performance of its international business.

The post Why Ansell, Kogan, Monadelphous, & NIB shares are tumbling lower appeared first on The Motley Fool Australia.

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• Kogan (ASX:KGN) dividend scrapped, share price plummets
• ASX 200 midday update: Kogan crashes, Nanosonics rockets
• FY 2021 results: Monadelphous (ASX:MND) share price crashes 14% on subdued outlook
• Kogan (ASX:KGN) share price sinks 8% after FY21 results and weak start to FY22
• Ansell (ASX:ANN) share price on watch after 57% profit surge

Motley Fool contributor 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 has recommended Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia has recommended Ansell Ltd. and NIB Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The 4DMedical Ltd (ASX: 4DX) share price is climbing today after the medical technology company reported its FY21 earnings.

The 4DMedical share price is now $1.50, a 5.63% jump from the market open.

Let’s investigate further.

4DMedical share price jumps on strong growth in cash reserves

4DMedical outlined several investment highlights in its report, including:

• Increase in cash reserves of 860% to $80.9 million, with no debt
• Total income of $5.8 million, a 71% year-on-year increase
• 52% increase in operating costs to $24.5 million
• Net loss after tax of $21.4 million, which was down 3% from the year prior
• Successful initial public offering (IPO) by raising $50 million of investor capital.

What happened in FY21 for 4DMedical?

In a positive for the 4DMedical share price, total income growth of 71% was underscored by operating revenue and “other income” of $5.6 million, as per the release.

Moreover, as a result of its IPO, 4D was able to strengthen its balance sheet and grow its cash position by more than 860% to about $81 million year on year.

Additionally, 4D made “strong progress against its commercialisation strategy”, laying the groundwork with “the establishment of clinical trials and pilots”.

As of 30 June 2021, the company had received approval for eight clinical trials, investigating a range of applications for its “FDA-cleared and TGA approved” respiratory imaging platform. The conditions under examination in these trials span from pulmonary hypertension to constrictive bronchitis.

Recall that this imaging platform, the “XVD Scanner”, is the “world’s first dedicated lung scanner”, according to 4DMedical.

In addition, the company’s subsidiary Australian Lung Health Initiative was awarded a $28.9 million contract by the Australian Government’s Medical Research Future Fund (MRFF) to develop the XVD scanner. This initially saw a jump in the 4DMedical share price.

Furthermore, the company also secured “streamlined access” to the US Department of Defence, and also Veterans’ Affairs (VA), to implement contracts on its “XV Lung Ventilation Analysis Software (XV LVAS)”.

In a further possible boost for the 4DMedical share price, the company also secured another $46 million in capital raising to support its XVD Scanner while strengthening its balance sheet.

What did management say?

4DMedical founder and CEO Andreas Fouras said:

We are extremely proud of 4DMedical’s progress in what was a foundational year. Having successfully listed on the ASX, combined with ALHI’s MRFF grant and 4DMedical’s follow-on capital raising, the company is very well funded to support the commercialisation of our technology in one of the world’s largest markets.

We have seen a significant shift in momentum in the past few months, with our pipeline of clinical trials and pilots experiencing significant growth. Additionally, 4DMedical has been highly successful in attracting top class talent during the year, doubling our headcount to 95 employees over the period, ensuring that we are well placed to achieve our commercialisation goals in FY22 and beyond.

What’s next for 4DMedical?

4D is progressing another two pilot studies in the US with the Department of Defence and VA’s healthcare networks. Both of these networks “represent a significant opportunity for the company”.

Moreover, the company “expects key milestones to be delivered in 2022” in its XV LVAS scanner, by integrating with a “broader range of hospital equipment”, such as CT scanners.

Finally, “subsequent to the year’s end”, the company signed its “first pharmaceutical-focused contract” with Novartis. Under the contract, Novartis will use XV LVAS to “assess and validate pharmaceutical therapies” in patients with chronic obstructive pulmonary disease (COPD).

4DMedical share price snapshot

The 4DMedical share price has had a choppy year to date, posting a loss of 39% since January 1. It has also fallen around 8% in the last 12 months.

This has lagged the S&P/ASX 200 index (ASX: XJO)’s return of around 14% this year to date.

The post 4DMedical (ASX:4DX) share price lifts on 71% income increase in FY21 appeared first on The Motley Fool Australia.

More reading

• 4DMedical (ASX:4DX) share price soars on contract with $305b pharma giant
• Here’s why the 4DMedical (ASX:4DX) share price is gaining today

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Superloop Ltd (ASX: SLC) share price is slipping today following the release of the company’s results for financial year 2021 (FY21).

Right now, the Superloop share price is 93 cents, 4.62% lower than its previous close.

Superloop share price slumps on dropped dividend

Here’s how the telecommunications services company performed over FY21:

• Earnings before interest, tax, depreciation, and amortisation (EBITDA) of $18.2 million, excluding acquisition costs. Up 34% on those of FY20.
• Loss of $31.9 million – that’s 22% better than Superloop’s FY20 loss
• $110.7 million in total revenue
• Operating cash flows of $15.1 million
• No dividend

The company’s underlying EBITDA was $17.5 million – a 108% increase on that of FY20.

Of the company’s revenue, $62.4 million came from its connectivity segment. That segment includes Superloop’s fibre infrastructure and high-performance network solution businesses and its fixed wireless wholesale and corporate products.

The company’s broadband segment contributed $41.8 million to its bottom line. The broadband segment includes Superloop’s Guest WiFi and Consumer Home Broadband products.

Finally, its services segment, which includes its cyber security and web filtering solution, CyberHound, and non-core cloud managed services, brought in $6.3 million.

Superloop also received JobKeeper during FY21. Further, its operating expenditure was reduced by 17% and its capital expenditure remained stable at $14.6 million.

Superloop ended the period with $89.7 million in cash with $62.5 million in interest-bearing loans and borrowings.

What happened in FY21 for Superloop?

FY21 was a productive year for Superloop and its share price.

The company’s Consumer Home Broadband products saw a 62% growth in subscribers.

Superloop also completed a $100 million equity raise. The funds went towards its acquisition of Exetel which it completed earlier this month.

It also refinanced its debt. By doing so, Superloop increased its debt facility to $92.2 million with more favourable terms.

Finally, Superloop’s student accommodation and hotel clients were hit hard by COVID-19. As a result, Superloop’s Guest Wifi platform struggled through FY21.

What did management say?

Superloop’s remuneration and nomination committee’s chair Tony Clark commented on the news driving the company’s share price downwards today:

For Superloop, FY21 was a year where many highlights were realised whilst we continued to face the ongoing challenge presented by COVID-19.

What’s next for Superloop?

Here’s how Superloop plans to boost its share price in FY22:

According to Superloop, it’s going to focus on boosting growth and monetising its network assets in the near term.

It believes the speed at which it can achieve revenue growth is a key factor of the market’s valuation of the company.

The company says it will be working to target larger markets, win and retain more businesses, consider mergers and acquisitions, and increase its sales.

Superloop states growth and transmission and storage of data should underpin demand for its services in the Asia Pacific region.

It will also be simplifying its operating platform and maintaining a strong and flexible balance sheet.

Superloop share price snapshot

Today’s fall included, the Superloop share price has dropped 11% year to date. It has also fallen 18.7% since this time last year.

The post The Superloop (ASX:SLC) share price slides on FY21 earnings appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended SUPERLOOP FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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