Another big day in the reporting landscape for the ASX200 – it’s been a few days since we’ve had several real big hitters lining up in a row.
Today we’ve got the other half of the supermarket duopoly; Australia’s energy major Woodside, Zip Co, and G8 Education.
Woodside’s results are probably the biggest to note – net profits after tax are down seventy four percent versus the 2022 calendar year (the stock dropped its full CY23 results on Tuesday.)
Let’s dive in.
Coles (ASX:COL)
- Revenue: $22.2B vs $20.8B pcp (+6.8%)
- Group EBIT: $1.064B (+0.6% vs pcp)
- Group NPAT $594M (-3.6% vs pcp)
- Dividend: 36c
- Commentary: “Sales revenue from Supermarkets increased by 4.9% to $19,778 million mainly driven by the successful execution of key seasonal events including Christmas, Halloween and Father’s Day, and a positive customer response to the Curtis Stone BBQ continuity campaign. Sales revenue was also supported by improvements in availability.”
Woodside Energy (ASX:WDS)
Woodside has dropped full year 2023 results today.
The company has hit record production, and yet, net profits after tax have sunk -74% Year on Year as the COVID-borne energy crisis fades.
- NPAT: $1.66B vs $6.498B pcp (-74%)
- Revenue: $13.9B vs $16.8B pcp (-17%)
- Sales: 201.5MMboe vs 168.9MMboe pcp (+19%)
- Full-year dividend: US140c vs US253c pcp (-45%)
Zip Co (ASX:ZIP)
- Group revenue: $430M (+28.9% vs pcp)
- Transaction numbers: 38.6M (+5% vs pcp)
- Revenue margin: 8.5% (+130bps vs pcp)
- Bad net debts: 1.9% (unch vs pcp)
- Cash gross profit: $176.2M (+45.9% vs pcp)
- Americas commentary: “Zip Americas delivered a record half for TTV (up 33.3% vs 1H23) and revenue (up 40.3% vs 1H23) with a strong seasonal performance and US bad debts continued to perform well with monthly cohort loss rates at or below 1.4% of TTV.”
- ANZ commentary: “Australia and New Zealand (“ANZ”) cash EBTDA was a solid result with revenue growth of 22.7% osetting a significant increase in interest costs, demonstrating the resilience of the business model.”
G8 Education (ASX:GEM)
- G8 Education has released results for the full 2023 calendar year on Tuesday.
- Group revenue: $983.4M (+9.1% vs pcp)
- NPAT: $56.1M (+53.1% vs pcp)
- CY23 full-year dividend: 4.5c (+50% vs pcp)
- Commentary: “Our team’s effort in 2023 saw G8 Education continue to improve its financial performance by focusing on improving experiences for its families and employees, while maintaining a disciplined approach to running our business, optimising our network, and carefully managing costs and our balance sheet.”
The company noted macro remains “challenging.”