AUS
NZ
UK
CA
USA
IND
Highlights
- Endeavour Group is a retail drinks network operator and manages a portfolio of hotels across Australia
- In 1QFY24, its sales grew by 2.1% YoY
- Mathieson (Bruce Lawrence) has maximum stake in the company with a shareholding of around 15%
Endeavour Group Limited (ASX:EDV) is an Australia-based retail drinks network operator which operates around 1,700 stores under the BWS and Dan Murphy’s brands. The speciality businesses of EDV are engaged in the distribution and production of exclusive brands. It also manages a portfolio of licensed hotels across the nation.
In the financial year 2023, the company witnessed a 2.5% YoY rise in sales to AUD 11,884 million, backed by the performance of its retail and hotel segments. The group’s EBIT increased by 10.7% YoY to AUD 1,023 million during the stated period. Moreover, the period saw expansion of industry partnerships, growth in store networks, and investment in production and brands, among other key developments.
The company also kicked off FY24 on a positive note as the sales momentum continued in the first quarter of FY24 with a 2.1% YoY growth.
Top 10 shareholders of EDV
The top 10 shareholders of EDV have around 38.84% of the shareholding in the company, while the top four have around 34.07% of the shareholding. Mathieson (Bruce Lawrence) and Woolworths Group Ltd have the highest stakes in the firm, with a shareholding of ~15.09% and ~9.10%, respectively.
Recent business update
Through a recent update dated 30 October 2032, the company released its quarterly results for the first quarter of FY24. In the 14 weeks, starting from 26 June 2023 to 1 October 2023, the company recorded a 2.1% YoY increase in group sales. Sales revenue from the retail segment increased by 2.6% YoY, and from the hotel segment, it increased by 2.8% YoY.
Outlook
Between FY24 – 26, the company plans to register savings of AUD 200 million from its group optimisation program – endeavourGO. The company is focused on cost control, gross profit margin management and sales growth to drive earnings growth.
In addition to this, the focus is on optimisation and improvement of the hotel portfolio. In the retail business segment, the focus is on growing and innovating store network.
Share performance of EDV
EDV shares closed 0.6% down at AUD 4.93 apiece on 2 November 2023. With this, EDV’s share price dropped by 30.76% in the past 12 months and has declined by 22.61% in the last six months.
The 52-week high of AUD 7.32 apiece was recorded on 14 February 2023, and the 52-week low of AUD 4.84 apiece was recorded on 26 October 2023.
EDV Daily Technical Chart, Source: EODHD/Others
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 02 November 2023. The reference data in this report has been partly sourced from EODHD/Others.
Disclaimer
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