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The ASX reporting wrap-up: A2 Milk, Woolworths, Appen

Just what the investor ordered. Here’s a recap of the companies that reported on Thursday…
The post The ASX reporting wrap-up: A2 Milk, Woolworths, Appen appeared first on The Motley Fool Australia. –

Well, what a mammoth day for reporting on the ASX. Investors were inundated with full-year report after full-year report — we don’t blame you if you’re still working your way through some of those announcements.

Unfortunately, the higher number of earnings released did not coincide with a better outcome for the broader market.

Out of the companies listed in the S&P/ASX 200 Index (ASX: XJO), only 72 rose or remained flat — the remaining 128 slipped lower.

We’ll quickly unpack today’s results and then wrap things back up for tomorrow:

Those that reported on the ASX today

A2 Milk Company Ltd (ASX: A2M)

Shares in A2 Milk took the elevator downwards after the company reported its FY21 full-year results. As border closures continue to impact the daigou sales channel, the infant formula maker incurred significant damage to its revenue and earnings.

The takeaway points:

Revenue down 30.3% to NZ$1.21 billion

Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 77.6% to NZ$123 million
Stock write-downs of NZ$109 million
Net profit after tax down 79.1% to NZ$80.7 million
Cash balance of NZ$875.2 million
Board decides against capital return
Outlook: Tough year ahead in FY 2022

The A2 Milk Company share price finished the day down 12.32% trading at $6.01.

Woolworths Group Ltd (ASX: WOW)

The Woolworths share price was a more positive performer following its reporting of full-year results for FY21.

Shares in the supermarket giant inched 0.42% higher to $40.99 on the back of a major jump in earnings. The company also announced a $2 billion buyback and a bumper dividend to boot.

The takeaway points:

Group sales rose 5.7% to $67,278 million
e-Commerce sales surged 58.1% to $5,602 million
Group earnings before interest and tax (EBIT) increased 13.7% to $3,663 million
Group net profit after tax up 22.9% to $1,972 million
Final dividend of 55 cents per share

Appen Ltd (ASX: APX)

Lastly, the Appen share price plummeted on the ASX today after reporting its earnings fell more than 50% in its FY21 result. Investors were clearly rattled by the decrease, resulting in the tech company’s shares falling 21.4% to $10.86 by the end of the session.

The takeaway points:

Group revenue down 2% to US$196.6 million
Annual contract value increased 16% to US$119.6 million
Underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) down 14.3% to US$27.7 million
Interim dividend of AUD4.5 cents per share 50% franked declared, flat on 1H20 dividend.
Net profit after tax down 55.1% to US$6.7 million
Appen to acquire location data provider Quandrant for US$25 million upfront
Outlook: higher confidence in the pipeline supported by a stronger order book

ASX shares reporting next week

We might have reached the peak of the ASX reporting mountain today. However, tomorrow we embark on the journey back down with a handful of companies dispensing their results.

Some of the big-name companies set to release their financials tomorrow include BWX Limited (ASX: BWX), Freedom Foods Group Ltd (ASX: FNP), Wesfarmers Ltd (ASX: WES), Bega Cheese Ltd (ASX: BGA), and Pointsbet Holdings Ltd (ASX: PBH).

To see the full line-up, check out our ASX Reporting Season Calendar.

The post The ASX reporting wrap-up: A2 Milk, Woolworths, Appen appeared first on The Motley Fool Australia.

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More reading

ASX 200 drops, A2 Milk sinks, Appen plummets

Here are the 3 heaviest trading ASX 200 shares this Thursday

Why A2 Milk, Appen, Jumbo, & Link shares are sinking

Own A2 Milk (ASX:A2M) shares? Here’s what the company has planned for FY22
Which ASX shares are leading the ASX 300 today?

Motley Fool contributor Mitchell Lawler owns shares of Appen Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd. The Motley Fool Australia has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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