Dashboard containing:

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

Commentary

Key developments

Enterprise ICT stocks in Australia and New Zealand showed mixed performance over the last year. Overall, economic growth is expected to be sluggish relative to previous years, creating uncertain performance for enterprise ICT equities. Some of these companies are growing through acquisition rather than organically, and are exposed to any economic downturn.

5G Networks

5G Networks stock was down again in March, with the stock falling over 3%. This performance can be attached to investors displeasure with the company’s 1H24 results released in late February showing negative EBITDA, albeit a less negative EBITDA when compared to 1H23.

Comms Group

Comms Group’s stock was down over 8% in the last month, despite the company releasing positive 1H24 results in late February, which reported revenue up 4% compared to 1H23 to $27m and EBITDA up 29% compared to 1H24 to $3m. The company’s FY24 guidance includes revenue in the range of $53-55m and EBITDA in the range of $6.5-7m.

Spirit Technology

Spirit Technology’s stock fell over 6% over the past month with investors continuing to show displeasure for the company’s poor 1H24 results released in late February, which reported revenue down 15% compared to 1H23 to $57m, and EBITDA down nearly 100% compared to 1H23 to $0.16m.

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