市场见解

Why is the Helloworld (ASX:HLO) share price slipping today?

The Helloworld Travel share price is slipping today, down 3% in afternoon trade. We look at the ASX travel share’s latest results.
The post Why is the Helloworld (ASX:HLO) share price slipping today? appeared first on The Motley Fool Australia. –

shares lower

The Helloworld Travel Ltd (ASX: HLO) share price is slipping today, down 2.6% in afternoon trade. At the time of writing, the Helloworld share price seems to have recovered slightly, sitting at $2.30, down 2.13%.

We take a look at the ASX travel share’s financial results for the half-year ending 31 October (H1 FY21).

What financial results did Helloworld report for H1 FY21?

The Helloworld share price is slipping today after the company reported an 85.2% decline in revenue year-on-year, with revenue of $29.6 million down from $200 million.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) came in at a loss of $6.5 million. This is significant compared to a positive EBITDA of $48.6 million in H1 FY20.

The company reported a loss after tax of $21.5 million. This was well down from the profit after tax of $32.9 million in the prior corresponding period (PCP). Earnings per share (EPS) were negative 9.8 cents, down 154% year-on-year.

Historically a reliable dividend payer, Helloworld will not pay an interim dividend on the half-year.

Indeed, it is a difficult situation facing the travel industry. Helloworld sold, downsized, or temporarily shuttered a number of its businesses during the half-year. That includes operations in Los Angeles, Manila, Mumbai, Shanghai and other centres.

The company reported that it is continuing to invest in technologies in its key business divisions.

Continuing uncertainty around national and international border restrictions and travel bans due to the COVID pandemic prevented Helloworld from providing guidance for the full 2021 financial year.

The company did reveal it expects to continue to incur cash losses of around $1.0–1.5 million per month for the next 6 months. It forecasts moving to a “modest profit” in the first half of the 2022 financial year. This comes as the company reports that it has enough liquidity to remain operational beyond the end of 2022. A prediction based on its current liquidity levels and cash burn rate.

Share price snapshot

Like all ASX travel-related shares, Helloworld’s share price was savaged during the COVID-fuelled market selloff last year, plummeting more than 83%. While shares have rebounded strongly from late March 2020, the share price remains down 43% over the past 12 months. By comparison, the All Ordinaries Index (ASX: XAO) is down 0.2% for that same time.

Year-to-date the Helloworld share price is down 10%.

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Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Helloworld Limited. The Motley Fool Australia has recommended Helloworld Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why is the Helloworld (ASX:HLO) share price slipping today? appeared first on The Motley Fool Australia.

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