Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
ASALEO CARE (AU), a company active in the Personal Products & Services industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, defensive market behaviour. The title leverages a more favourable environment and raises its general evaluation to Positive. As of the analysis date January 29, 2021, the closing price was AUD 1.30 and its potential was ...
A director at Asaleo Care Ltd maiden bought 66,868 shares at 1.090AUD and the significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years...
Having sold the struggling Australian consumer tissue business, fiscal 2019 will be a transitional year for Asaleo Care. We continue to forecast fiscal 2019 EBITDA of AUD 80 million, at the bottom of the AUD 80-85 million guided range. We’ve trimmed our near-term earnings per share estimates by around 3% on average, and we expect low-single-digit growth over the next five years. The trim mainly reflects slightly higher depreciation estimates, but the impact on our valuation is negligible. We m...
Having sold the struggling Australian consumer tissue business, fiscal 2019 will be a transitional year for Asaleo Care. We continue to forecast fiscal 2019 EBITDA of AUD 80 million, at the bottom of the AUD 80-85 million guided range. We’ve trimmed our near-term earnings per share estimates by around 3% on average, and we expect low-single-digit growth over the next five years. The trim mainly reflects slightly higher depreciation estimates, but the impact on our valuation is negligible. We m...
Asaleo Care is one of the leading players in the Australia and New Zealand personal-care and hygiene sector. Its brands among the leaders in each of its majority of its product categories. Despite a portfolio of reputable names, we believe the company lacks sufficient brand equity to warrant an economic moat. Consumers are highly price-sensitive, even in the feminine care and incontinence hygiene spaces which typically favour trusted, high-quality brands. The industry is mature, with limited cap...
Asaleo Care’s underlying net profit fell 26% to AUD 37 million, despite offloading the loss-making tissue business. Underlying EBITDA was 81 million, down 17% on the prior year, albeit in line with our expectations and at the bottom of the guided range. The main challenges the company faced were elevated pulp prices, and aggressive competition, neither of which are showing any signs of abating. The company was unable to pass the higher input cost onto customers and consequently margins came un...
Asaleo Care’s underlying net profit fell 26% to AUD 37 million, despite offloading the loss-making tissue business. Underlying EBITDA was 81 million, down 17% on the prior year, albeit in line with our expectations and at the bottom of the guided range. The main challenges the company faced were elevated pulp prices, and aggressive competition, neither of which are showing any signs of abating. The company was unable to pass the higher input cost onto customers and consequently margins came un...
Asaleo Care’s underlying net profit fell 26% to AUD 37 million, despite offloading the loss-making tissue business. Underlying EBITDA was 81 million, down 17% on the prior year, albeit in line with our expectations and at the bottom of the guided range. The main challenges the company faced were elevated pulp prices, and aggressive competition, neither of which are showing any signs of abating. The company was unable to pass the higher input cost onto customers and consequently margins came un...
Asaleo Care’s underlying net profit fell 26% to AUD 37 million, despite offloading the loss-making tissue business. Underlying EBITDA was 81 million, down 17% on the prior year, albeit in line with our expectations and at the bottom of the guided range. The main challenges the company faced were elevated pulp prices, and aggressive competition, neither of which are showing any signs of abating. The company was unable to pass the higher input cost onto customers and consequently margins came un...
Asaleo Care announced the sale of its Australian Consumer Tissue business to Solaris Paper, for an extremely attractive price. The tissue business was home to leading brands Sorbent toilet and facial tissue, along with Handee Ultra paper towel. The sale price of AUD 180 million represents over 10 times pro forma EBITDA, although this EBITDA figure has been normalised to reflect pulp prices and trade spend more closely in line with long-term averages. We believe this is an attractive sale price,...
Asaleo Care announced the sale of its Australian Consumer Tissue business to Solaris Paper, for an extremely attractive price. The tissue business was home to leading brands Sorbent toilet and facial tissue, along with Handee Ultra paper towel. The sale price of AUD 180 million, represents over 10 times pro forma EBITDA, although this EBITDA figure has been normalised to reflect pulp prices and trade spend more closely in line with long-term averages. We believe this is an attractive sale price...
Asaleo Care announced the sale of its Australian Consumer Tissue business to Solaris Paper, for an extremely attractive price. The tissue business was home to leading brands Sorbent toilet and facial tissue, along with Handee Ultra paper towel. The sale price of AUD 180 million represents over 10 times pro forma EBITDA, although this EBITDA figure has been normalised to reflect pulp prices and trade spend more closely in line with long-term averages. We believe this is an attractive sale price, ...
Fiscal 2018 is shaping up to be a challenging year for Asaleo Care, with interim net profit tumbling by almost 40% to AUD 18 million. While the result is soft, at the current pace, the firm is tracking broadly in line with guidance and our full-year expectations. The primary headwinds the company is facing are the higher pulp and energy costs (two of its major expense lines), along with market share losses in feminine care, baby care, and consumer tissue. While Asaleo achieved price increases, p...
Asaleo Care is one of the leading players in the Australia and New Zealand personal-care and hygiene sector. Its brands hold number-one or number-two positions in the majority of its product categories. Despite a portfolio of reputable names, we believe the company lacks sufficient brand equity to warrant an economic moat. Consumers are highly price-sensitive, even in the feminine care and incontinence hygiene spaces which typically favour trusted, high-quality brands. The industry is mature, wi...
Fiscal 2018 is shaping up to be a challenging year for Asaleo Care, with interim net profit tumbling by almost 40% to AUD 18 million. While the result is soft, at the current pace, the firm is tracking broadly in line with guidance and our full-year expectations. The primary headwinds the company is facing are the higher pulp and energy costs (two of its major expense lines), along with market share losses in feminine care, baby care, and consumer tissue. While Asaleo achieved price increases, p...
While we had expected Asaleo Care to face challenges including aggressive competition and rising costs, these challenges have proven more severe than we previously expected. We downgrade our fair value estimate for Asaleo Care to AUD 0.65 per share, from AUD 1.20 per share. Despite the share price tumbling, the company now looks overvalued relative to our reassessment of the company's future cash flow potential. Our fair value reduction reflects several more-negative outlooks than we previously ...
Reporting Season should prove relatively good. Changes to Accounting Standards are an uncertainty. Global sector rotation hits Australia. We don’t expect the bounce in Financials to be repeated. The market is pushing up against a valuation ceiling, but it is fairly concentrated. Domestic Economy Tracking In-Line with Our Expectations.
While we had expected Asaleo Care to face challenges including aggressive competition and rising costs, these challenges have proven more severe than we previously expected. We downgrade our fair value estimate for Asaleo Care to AUD 0.65 per share, from AUD 1.20 per share. Despite the share price tumbling, the company now looks overvalued relative to our reassessment of the company's future cash flow potential. Our fair value reduction reflects several more-negative outlooks than we previously ...
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