Fast Five: ASX Reporting Season (DMP, FLT, QAN, RWL, ZIP)
Here's our third edition of Fast Five: ASX Reporting Season. We’ll cover Domino’s Pizza Enterprises, Flight Centre, Qantas, Rubicon Water and Zip Co’s results ending 30 June 2022.
| Name | Ticker | Industry Group | Market Cap | Reporting Period | EPS YoY Growth |
| Domino’s Pizza Enterprises | DMP | Consumer services | $6.2b | FY22 | -13% |
Disclaimer: Market cap as of 25 August 2022
FY22 was a mixed bag for Domino’s as it struggled to deal with inflation. Revenue increased 4.1% to $2.2b off the back of 450 new stores added, and EBITDA declined by 6.4% year-on-year (YoY). Domino’s has a history of growth supported by increasing its store count, and the expansion into Taiwan through an acquisition of 156 stores helped considerably. But overall the period’s results were a disappointment to the market and, with management commentary indicating continued difficulties in mitigating Europe’s inflationary pressures, it seems unlikely that the ANZ division will save the day again.
| Name | Ticker | Industry Group | Market Cap | Reporting Period | EPS YoY Growth |
| Flight Centre | FLT | Consumer Consumers | $3.5b | FY22 | 34% |
Disclaimer: Market cap as of 25 August 2022
Flight Centre saw a significant improvement in FY22, but still generated an underlying $183m EBITDA loss as the industry struggles to return to pre-COVID-19 numbers. The result was expected after previous guidance between $180m and $190m, and the market was impressed that 2H22 saw Flight Centre not only expand into other markets, but break even. With management saying the pains of COVID-19 are mostly in the past for Flight Centre, investors are starting to see clear skies again.
| Name | Ticker | Industry Group | Market Cap | Reporting Period | EPS YoY Growth |
| Qantas | QAN | Transportation | $8.6b | FY22 | 50% |
Disclaimer: Market cap as of 25 August 2022
Despite continuing to have labour issues, Qantas’ results dramatically improved during FY22. Sure, the company reported an EBITDA loss of $245m during 1H22, but as average flight capacity skyrocketed to 50% in 2H22 (from 18% during 1H22), the company managed to pull off a full year EBITDA profit of $281m, surprising the market. While inflation, labour and a significant debt on the balance sheet remain problematic, 2H22 was the first time in a while Qantas’ investors got some real good news.
| Name | Ticker | Industry Group | Market Cap | Reporting Period | EBITDA YoY Growth |
| Rubicon Water | RWL | Technology hardware & equipment | $205m | FY22 | -91% |
Disclaimer: Market cap as of 25 August 2022
Rubicon Water FY22 results were disappointing to say the least, with revenue declining 20% to $65m and underlying EBITDA dropping 91% to $1.3m YoY. Still, management guidance forecasts EBITDA will increase to $13m in FY23 – close to FY21’s result – as the Asian division is expected to see delayed projects get back on track. And as China announces that it is in yet another drought, Rubicon’s water management and savings solutions in the region are more relevant than ever.
| Name | Ticker | Industry Group | Market Cap | Reporting Period | EBITDA YoY Decline |
| Zip Co | ZIP | Diversified financials | $667m | FY22 | -153% |
Disclaimer: Market cap as of 25 August 2022
FY22 brought mixed results for Zip Co: the company lost $288m in reported EBITDA, but revenue grew 57% YoY in FY22. The company has a long way to go to regain investors’ trust following its recent share price plunge, but with transactions increasing 80% YoY off the back of a sharp turnaround in the U.S. division, it seems management has taken the first step. Now Zip just needs to focus on getting its costs under control.
This is not a recommendation to invest, as always do your own research