How Is This IT Stock Performing This Year- ASX: WTC?

  • May 05, 2019 AEST
  • Team Kalkine
How Is This IT Stock Performing This Year- ASX: WTC?

Wisetech Global Limited (ASX: WTC) is an information technology company, which provides software solutions to the logistics industry. The company has around 12,000 consumers from the global logistics companies throughout 130 nations.

WTC is into selling, developing and implementing software solutions which allows logistics service provider to facilitate the movement and storage of goods and information in both domestic and international arena.

The company’s FY19 results are anticipated to be released on 21 August 2019, and the Annual General Meeting would be conducted on 19 November 2019.

On 30 April 2019, WTC notified the market that it has successfully acquired Xware, which leads the market as a messaging integration solutions provider in Swedish region. Also, the company has been on an expanding spree, to reach out to more customer segments. Also, the company earlier had announced about the procurement of Containerchain.

Further, the company had announced that it had presented itself in the Macquarie Australia Conference, held in Sydney on 30 April 2019. Below are the highlights of the same:

  • The high growth guidance was laid down by the company, predicting the FY19 revenue to be ranging between $326m-$339m. Also, the company’s FY18 revenue stood at $221.6m.
  • The FY19 EBITDA is expected to be in between $100m and $105m.

As per an announcement by the company on 15 April 2019, the company had successfully completed its Share Purchase Plan and raised approximately $35.9 million, with almost 1.7 million new fully paid ordinary shares, to be issued to successful SPP applicants at $20.90 per share. The funds would be used in the company’s future growth strategy (as stated by CEO, Mr Richard White).

Earlier in February this year, WTC published its 1H19 results. The highlights of the same are as follows:

  • The total revenue of the company stood at $0.15m, which was 68% up when compared to its previous corresponding period’s revenue in 1H18 of $93.3k.
  • The gross profit amounted to $126.6m, 64% up when compared to the profit recorded in 1H18 of $77.2m.
  • The operating profit increased by 59% to $35.9m in 1H19.
  • The EBITDA stood at $48.5m, up by 52% when compared to $31.8m last year in the same period.
  • The company declared a fully-franked interim dividend declared of 1.5 cents per share with up to $4.6m payable in April 2019.
  • The company’s FY19 commitment is to invest around $100m in innovation and development section.
  • 46% of 1H19 revenue was received in non-local currencies, which is 5% lower than FY18’s 51%.
  • As on December 2018, the number of employees in the company was 1,633, which has increased significantly from the number of June 2018’s 1,225 employees, depicting a 33% increase in WTC’s workforce.

WTC’s acquisitions include CargoIT Holding i Skandinavien AB, IFS Global Holdings Pty Ltd and LSI-Sigma Software Limited on 1 Nov 2018. Apart from these acquisitions, the company had also acquired 11 logistics solutions businesses around geographies since the beginning of the period of 1H19.

Stock Price Information:

As on 3 May 2019, the stock price of the company closed the trading session of the day at A$23.190, up 3.758% compared to its last trade. The company has provided a YTD return of 31.24%.


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