SXE 1.61% $1.89 southern cross electrical engineering ltd

Ann: Half Year Results Announcement, page-7

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    • Guidance for FY24 revenue of $500M+ and EBITDA to match FY23 (which was $38.2M) is unchanged. Argonaut current FY24 forecasts in line with revenue $515M and EBITDA $38.0M.
    • EBITDA of $17.1M was 5% below out thinking but reiteration of full year guidance implies 2H24 EBITDA of $21 m or 23% above the 1H on a stronger margin
    • Balance sheet remains solid and supports inorganic growth opportunities
    • Long-term outlook very positive
    Market did not like it, but seems ok to me.
 
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