New Street Research - Temple Webster Group (TPW) TPW AGM Update: Business Trending Better than Anticipated

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New Street Research

Jin Yoon

TPW AGM Update: Business Trending Better than Anticipated

What’s new: Temple & Webster held its annual general meeting (AGM) today. The company provided business updates where sales have been trending better than our initial expectations, while EBITDA margin guidance remains intact. We up our PT from AUD7 to AUD8 on improving business outlook. Our revised PT of AUD8 implies 1.9x FY24E EV/Revs. We maintain our Neutral rating.

Analysts:
Jin Yoon

29/11/2023 1 EN

Underlying

Temple & Webster Group

Temple & Webster sells furniture, homeware, and other lifestyle products through its online, member based website.

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AU000000TPW5 Australian Securities Exchange Australia

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Analysts

Jin Yoon

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TPW AGM Update: Business Trending Better than Anticipated

TPW 2HFY25: Improving Business Outlook

Temple & Webster Group Ltd: 1 director

TPW 1HFY25 Results: Continued Market Share Gains

SATS quick thoughts following the 1Q25 call

SATS 1Q25 Quick Take: Wireless making progress (but not enough)

Cellnex (Reduce, €28.5, -15%) Q1 25: Revenue volatility raises new questions

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