Top member reports
Consensus community valuation
$0.150
Average Intrinsic Value
3.4%
Undervalued by
Active Member Straws
#Small Cap Liquidity movements
Added 2 months ago

Some stunning movements upwards in my portfolio today. Lead by Exp up 77% in one day on 23 trades and 3.4% (637,000) of total shares (18.5m) traded.

 

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#ASX Announcements
Added 3 months ago

Directors buying EXP:

5 March - John O’Sullivan (CEO),  purchased 99,805 ordinary shares on market.

9 March-  Neil George Cathie (Independent Non-Executive Director), purchased 185,891 ordinary shares on market.

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#Financials
Added 3 months ago

Up 17% after reporting - was umming and arring about buying prior to results but was worried on impact of virus/bushfires/drought etc (you name it). Still i have shares in Forager and they hold this stock so indirectly benefited.  Do i buy now that the bad news is out of the way? I like their statement  "The Group’s Chairman, Bob East, said: “The strategic review initiatives have provided the Group with a stronger balance sheet and improved cost control focus" + the CEO (John OSillivan) is the old head of the Australian Tourism Commission

EXPERIENCE CO LIMITED (ASX: EXP) 1H20 RESULTS Experience Co Limited (ASX: EXP) today released its Appendix 4D and Financial Report for the half year ending 31 December 2019, delivering Underlying EBITDA of $9.1 million on revenue from continuing operations of $60.3 million.

Key Highlights

• Statutory net loss after tax of $7.1 million (1H19: $7.4 million profit) after non-cash impairment of $8.0 million

• Underlying EBITDA from continuing operations of $9.1 million (1H19: $15.0 million), reflects volume decreases across Skydiving and GBR Experiences

• Skydiving volume down 9.3% to 84,085 (1H19: 92,748) with weather conditions, and bushfires (smoke haze) impacting operations from Byron Bay to Great Ocean Road, and into Queenstown New Zealand

• GBR Experiences earnings in 1H20 impacted by cyclical downturn in Tropical North Queensland tourism market which saw Cairns airport arrivals down by 3.3% on prior period

• Balance sheet improvement, 31 December 2019 pro forma net debt of $7.3 million following the divestment of Great Barrier Reef Helicopters and non-core asset sales continuing

• Bushfires and COVID-19 (‘coronavirus’) expected to adversely impact 2H20, the Group continues to monitor ongoing developments, and be proactive in mitigating the impact on our key markets and operations

• Strategy remains to reset the business in FY20 with cost rationalisation and process improvement focus areas for 2H20.

The Group’s Chairman, Bob East, said: “The strategic review initiatives have provided the Group

View Attachment

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#Forager fund view on EXP (they
Added 3 months ago

Pros; No Debt, New Management, 70% market share (skydiving)

Cons: (short-term) effects on Oz tourism sector

worth a long term buy?

Experience Co (EXP), the operator of skydiving and adventure activities, is one of these. Management haven’t made a formal announcement about the effects of the bushfires and the virus outbreak, but when they do the news won’t be good. The company caters to skydivers in Australia and New Zealand and to reef visitors in Cairns. More than half are international tourists. As the bushfires raged, estimates from a tourism industry organisation were for at least a 10% reduction in the number of international visitors. With Australia banning foreign travellers who have been in China, those estimates will head lower. Experience Co’s revenue will be severely affected this year. With costs mainly fixed, profit will fall even further. The impact of past viral outbreaks have been short lived. Australian tourist numbers recovered within seven months of the SARS outbreak, although this virus will probably hit harder. The bushfires may have a longer term effect, with significant media coverage globally. However, a multi-year impact seems unlikely. Extra government funding has already led to the “Holiday Here This Year” campaign. Experience Co has almost no net debt. The business has an enviable market position in skydiving on both sides of the Tasman, flying seven of every ten jumpers. And a new management team, led by former Tourism Australia head John O’Sullivan, has already made some sensible capital allocation decisions.

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#Broker / Analyst Views
Last edited 6 months ago

18-Nov-2019:  Wilsons:  Experience Co (EXP) - Market Weight: Strategic review eagerly awaited…

20-Nov-2019:  Wilsons:  Experience Co (EXP) - MARKET WEIGHT: Early indicators positive

  • Wilsons' Recommendation:  MARKET WEIGHT  
  • Wilsons' new (20 Nov) 12-mth target price (AUD):  $0.25  
  • Share price @ 20-Nov-19 (AUD):  $0.24  
  • Forecast 12-mth capital return:  4.8%  
  • Forecast 12-mth dividend yield:  0.0%  
  • 12-mth total shareholder return:  4.8% 
  • Share price yesterday - on Friday 22-Nov-19 (AUD):  $0.26 (+4% above Wilsons' 12 month TP)

 

Disclosure:  Not held.

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#Broker / Analyst Views
Last edited 3 months ago
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