External broker reports(aggregated public sources), Taylor Collison

Taylor Collison

External broker reports(aggregated public sources)

Taylor Collison is a leading financial services firm, providing advice & wealth creation strategies to private & institutional investors and corporate clients throughout Australia. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>AKG’s 1H24 result was below our expectations with headwinds felt industry-wide the main cause.</li><li>We acknowledge continued uncertainty in government policy surrounding international student visa regulation, adjusting our forecasts and valuation accordingly.</li><li>The A$5M 1H24 impairment charge from a course closure only adds to our disappointment.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

AKG’s 1H24 result was below our expectations with headwinds felt industry-wide the main cause.We acknowledge continued uncertainty in government policy surrounding international student visa regulation, adjusting our forecasts and valuation accordingly.The A$5M 1H24 impairment charge from a course closure only adds to our disappointment.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Academies Australasia Group Limited - 1H24 Result

<ul><li>With an expanded course offering that is well-placed to capture the continued return of international students, we believe there is a strong likelihood that AKG returns to pre-COVID NPAT of $4.3M in FY25.</li><li>Based on this, AKG trades on an undemanding 7.5x our FY25e EPS.</li><li>Our view is underpinned by three factors: 1. The Goulburn Street expansion generating profit as new courses are filled. 2. AKG’s significant exposure to the influx of international students into Australia. 3. Tuition pre-payments, which are supportive of significant revenue growth</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

With an expanded course offering that is well-placed to capture the continued return of international students, we believe there is a strong likelihood that AKG returns to pre-COVID NPAT of $4.3M in FY25.Based on this, AKG trades on an undemanding 7.5x our FY25e EPS.Our view is underpinned by three factors: 1. The Goulburn Street expansion generating profit as new courses are filled. 2. AKG’s significant exposure to the influx of international students into Australia. 3. Tuition pre-payments, which are supportive of significant revenue growthContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Academies Australasia Group Ltd (AKG) - Initiation – Cheap with Exposure to Tailwinds

Australia

Academies Australasia Group Limited grants baccalaureate and graduate degrees. The College offers degrees in accounting, language, information technology, management, marketing, tourism, and sports and fitness. Academies Australasia Group serves students in Australia and Singapore.

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Academies Australasia (AKG AU)

Academies Australasia Group Limited - 1H24 Result

We acknowledge continued uncertainty in government policy surrounding international student visa regulation, adjusting our forecasts and valuation...

Taylor Collison

Academies Australasia Group Ltd (AKG) - Initiation – Cheap with Exposure to Tailwinds

With an expanded course offering that is well-placed to capture the continued return of international students, we believe there is a strong...

Taylor Collison

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