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Original-Research: Aspermont Ltd. - from GBC AG
18.12.2024 / 12:00 CET/CEST
Dissemination of a Research, transmitted by EQS News - a service of EQS
Group AG.
The issuer is solely responsible for the content of this research. The
result of this research does not constitute investment advice or an
invitation to conclude certain stock exchange transactions.
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Classification of GBC AG to Aspermont Ltd.
Company Name: Aspermont Ltd.
ISIN: AU000000ASP3
Reason for the research: Research Report (Anno)
Recommendation: Buy
Target price: 0.03 AUD
Target price on sight of: 31.12.2025
Last rating change:
Analyst: Julien Desrosiers, Matthias Greiffenberger
Resilient Subscriptions and Strategic Focus. Strong Foundation for Growth:
Cash Stability and continued innovation. FY2025e Return to profitability.
Revenue Decline Amid Market Headwinds: Aspermont reported FY2024 revenues of
AUD 17.49M, reflecting a 9.2% YoY decline, primarily driven by volatility in
Events and Nexus segments due to challenging market conditions. However,
revenues are forecasted to rebound 13% to AUD 19.76M in FY2025, supported by
growth in subscription services and new product expansion.
Strength in Recurring Revenue: The company's core subscription business
maintained its resilience, delivering its 33rd consecutive quarter of growth
and contributing over 50% of total revenue. This reflects Aspermont's
ability to scale high-margin, recurring income streams despite cyclical
market pressures.
Cash Liquidity Amid Strategic Investments: Despite strategic investments,
Aspermont preserved a stable cash position of AUD 1.4M as of FY2024. Funds
were allocated to expanding the DataWorks platform, upgrading the Horizon V5
system, and enhancing the Data & Intelligence division, positioning the
company for future growth.
Operational Optimization: The company continued to optimize its operations
by discontinuing low-margin legacy products, reallocating resources toward
scalable digital offerings, and enhancing senior leadership to drive
execution and innovation. This has strengthened operational efficiency and
revenue quality.
FY2025 Outlook: Aspermont is well-positioned to return to profitability in
FY2025. The recovery is expected to be fueled by a rebound in Events,
continued data services growth, and ongoing cost optimization efforts.
Valuation and Recommendation: Based on our Discounted Cash Flow (DCF) model,
we maintain a Buy rating with a target price of AUD 0.03 (EUR 0.02) per
share, reflecting upside potential as growth strategies yield results.
You can download the research here: http://www.more-ir.de/d/31557.pdf
Contact for questions:
GBC AG
Halderstraße 27
86150 Augsburg
0821 / 241133 0
research@gbc-ag.de
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Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR
Beim oben analysierten Unternehmen ist folgender möglicher
Interessenkonflikt gegeben: (5a,7,11); Einen Katalog möglicher
Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung
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Date and time of completion of this research: 17.12.2024 (21:00)
Date and time of first distribution: 18.12.2024 (12:00)
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2053307 18.12.2024 CET/CEST
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