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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Mkt cap ! $95.89M | |||
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| No. | Vol. | Price($) |
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