VGW has published a fantastic summary of the FY21 results (attached). Amazing numbers!
- Revenue of AUD2.25 billion, up 186% - Profit before tax of AUD358 million, up 262% - Cash flow generation so strong that they paid out AUD211m in dividends in FY21, and a further AUD196m in the past 3 months alone.
Their revenue growth has continued to accelerate even further in recent months. August was their best revenue month ever, until it was exceeded by September!
Their EBIT margins have been around 16%, but are improving even further to around 20%. And this margin is on billions of dollars in revenue. Which is growing at more than 100%.
This must be the most valuable tech business ever started in Australia. Forget Canva, VGW leaves it for dead. And yet the shares are ridiculously cheap on Primary Markets, because there's no liquidity. No wonder VGW is looking to list in the US.
