Will Lindsay Australia (ASX: LAU) achieve its FY24 EBITDA forecast of AUD 88-94mn

4 min read | July 15, 2024 04:00 PM AEST | By Team Kalkine Media

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Will Lindsay Australia (ASX: LAU) achieve its FY24 EBITDA forecast of AUD 88-94mn — Image source: shutterstock.com

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Highlights

Lindsay Australia is a fully integrated company specialising in transport, logistics, and rural supply

In 1HFY24, LAU’s operating revenue increased by 23.9% YoY to AUD 417.9 million

Washington H Soul Pattinson and Company Ltd. has the maximum stake in the company with a shareholding of around 17%

Lindsay Australia Limited (ASX:LAU) is an ASX-listed company which operates as a fully integrated company specialising in transport, logistics, and rural supply. The company's core operations encompass transporting refrigerated and general freight, providing logistics services for the import and export of horticultural products, and merchandising rural supplies. Its business segments are categorised into Transport, Rural, and Hunters.

In the first half of the financial year 2024 (1HFY24), the company witnessed 23.9% YoY rise in its operating revenue to AUD 417.9 million, backed by higher volumes in rail and road segment. The period also saw 21.7% YoY surge in underlying EBITDA to AUD 52.1 million and 13.9% YoY increase in underlying NPAT to AUD 19.6 million.

Growth prospects for transportation sector stocks

According to the data published by the Australian bureau of Statistics (ABS) on 12 July 2024, in May, short-term visitor arrival increased by 17.3% annually in Australia and short-term resident returns jumped 14.2% to 807,920.

The ABS data revealed that total arrivals increased by 14% to 1,478,410, and total departures grew by 14.7% YoY to 1,559,320 in May. During the reported period, short-term trips stood at 600,780, an increase of 88,450 over previous corresponding period.

Top 10 shareholders of LAU

The top 10 shareholders of LAU have around 45.09% shareholding the company. Washington H Soul Pattinson and Company Ltd. has the maximum stake in the company with a shareholding of around 17%.

Outlook

In FY24, the company expects to record underlying EBITDA of AUD 88-94 million. In 2HFY24, commercial freight volumes are anticipated to witness 6% growth over 2HFY23.

The refrigerated logistics sector is expected to continue its growth on the back of increase in population and immigration.

Share performance of LAU

LAU shares closed flat at AUD 0.935 apiece on 15 July 2024 with a market cap of AUD 292.11 million. LAU’s share price has dropped by 30.22% in the last one year and in the past one month, it has increased by 11.98%.

The 52-week high of LAU is AUD 1.405, recorded on 20 July 2023, while the 52-week low is AUD 0.815, recorded on 18 June 2024.

LAU 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 15 July 2024. The reference data in this report has been partly sourced from EODHD/Others.

Disclaimer

This article has been prepared by Kalkine Media, echoed on the website kalkinemedia.com/au and associated pages, based on the information obtained and collated from the subscription reports prepared by Kalkine Pty. Ltd. [ABN 34 154 808 312; AFSL no. 425376] on Kalkine.com.au (and associated pages). The principal purpose of the content is to provide factual information only for educational purposes. None of the content in this article, including any news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video is or is intended to be, advisory in nature. The content does not contain or imply any recommendation or opinion intended to influence your financial decisions, including but not limited to, in respect of any particular security, transaction, or investment strategy, and must not be relied upon by you as such. The content is provided without any express or implied warranties of any kind. Kalkine Media, and its related bodies corporate, agents, and employees (Kalkine Group) cannot and do not warrant the accuracy, completeness, timeliness, merchantability, or fitness for a particular purpose of the content or the website, and to the extent permitted by law, Kalkine Group hereby disclaims any and all such express or implied warranties. Kalkine Group shall NOT be held liable for any investment or trading losses you may incur by using the information shared on our website.

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