Appen’s previous guidance given in 31 May 2019 stating “EBITDA forecast to be in the range of $85-$90m (at A$1=US$0.74 May-Dec 2019)”.
The new guidance states “Upper end of $85m-$90m (at $1=0.74 Aug-Dec 2019). 1H benefits from FX gains of $4.7m. 2H at 0.74c”
The change in guidance shows a realisation of FX benefits in 1H19 of $4.7m but maintains the same full year outlook and 2H exchange assumption. Hence, it could be interpreted as a downgrade in guidance of 5.3% and the reason for the sell off.
The report is actually a miss and a 5.33% downgrade in guidance
RBC - New Target now $34, page-194
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$1.96 |
Change
-0.030(1.51%) |
Mkt cap ! $439.6M | |||
| Open | High | Low | Value | Volume |
| $1.96 | $2.05 | $1.90 | $16.06M | 8.159M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 70913 | $1.96 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.97 | 5000 | 1 |
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| APX (ASX) Chart |