Experience Co (ASX:EXP) FY24 performance: Revenue up nearly 17%, unaudited EBITDA jumps 27% despite weak Q4

4 min read | August 20, 2024 05:10 PM AEST | By Team Kalkine Media

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Experience Co (ASX:EXP) FY24 performance: Revenue up nearly 17%, unaudited EBITDA jumps 27% despite weak Q4 — Image source: Shutterstock

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Highlights

Experience Co is an Australian company providing skydiving and adventure activities and experiences

In FY24, EXP’s sales revenue increased by 17%, while underlying EBITDA grew by 27.43%

Boucaut (Anthony Penn) has the maximum stake in the firm with a shareholding of almost 23.13%

Experience Co Limited (ASX:EXP) is an ASX-listed adventure tourism company, offering a range of exciting services. The company operates through multiple sites across Australia and New Zealand.

In the financial year 2024 (FY24) ended 30 June 2024, the company recorded almost 17% YoY rise in its sales revenue to AUD 127 million, around 30% YoY increase in skydiving revenue to AUD 62.10 million and around 27% YoY growth in underlying EBITDA to AUD 14.40 million.

Meanwhile, in the fourth quarter of FY24, total revenue of EXP jumped 3% annually to AUD 29.8 million. The company’s performance in 4Q was affected by unfavourable weather conditions in Australia, especially impacting Treetops Adventure and Skydive Australia in NSW.

Top 10 shareholders of EXP

The top 10 shareholders of EXP have around 74.65% shareholding in the company, while the top four have 59.75% of the shareholding. Boucaut (Anthony Penn) and Richmond Hill Capital Pty. Ltd. have the highest stakes in the group with a shareholding of ~23.13% and ~14.81%, respectively.

Recent business update

Through an ASX update dated 15 August 2024, the company notified that it would publish its FY24 earnings report on 22 August 2024. A teleconference will follow the earnings released, scheduled at 10am on same day.

Outlook

EXP’s focus is on corporate cost efficiency and it is conducting a strategic review of its operations. The company is expected to share an update on the strategic review in FY24 results presentation.

Considering the speed of international recovery and ongoing domestic trading conditions, the company’s management feels that unlocking of the long-term earnings potential is likely to be slower than earlier forecasted.

Share performance of EXP

EXP shares closed flat at AUD 0.14 apiece on 20 August 2024. In the last one year, EXP’s share price has dropped by 37.78%, and in the last three months, it has surged by almost 3.70%.

The 52-week high of EXP is AUD 0.240, recorded on 06 October 2024, while the 52-week low is AUD 0.125, recorded on 24 May 2024.

EXP 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 20 August July 2024. The reference data in this report has been partly sourced from EODHD/Others.

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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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