Dashboard containing:

• Monthly and annual share price movements for main listed telco stocks
• Key earnings multiples
• Forward earnings multiples vs forward growth estimates
• Share price movements tracked over last twelve months

Commentary

Key developments

Telco stocks in Australia and New Zealand have seen wide spreads in performance over the last 12 months, but larger telcos are often being favoured. Economic growth is sluggish relative to 2022, creating uncertain performance for telco equities.

Swoop

Swoops stock rose over 22% in November after investors positive reaction to the CEO address and trading update on the 24th which detailed updated FY24 guidance. The guidance expects Swoop to achieve double digit increases in revenue, gross margin, and EBITDA on pcp.

TPG

TPG’s stock has had another challenging month, down 8.5% after it was confirmed that TPG and Vocus have ceased discussions on Vocus’ the non-binding offer to acquire TPG’s Enterprise, Government and Wholesale assets. The deal fell apart due to ‘considerable complexity’ and inability to reach ‘alignment on the operating model and commercial terms’.

Superloop

Superloop stock had a good month in November rising over 8% thanks to a trading update which mentioned strong customer and market share growth in Q1 of FY24 and an overall FY24 EBITDA guidance of 31-42% increase on the pcp.