In today’s briefing:
- Anton Oilfield – Earnings Flash – FY 2023 Results – Lucror Analytics
- Morning Views Asia: Gajah Tunggal, Rakuten, Road King Infrastructure, SK Hynix
Anton Oilfield – Earnings Flash – FY 2023 Results – Lucror Analytics
Anton Oilfield’s FY 2023 results were strong, with revenue growth accelerating to levels not registered since H1/19. The strong FCF boosted the cash balance. The company’s financial risk profile improved significantly, with Net Debt/EBITDA below 1x and healthy interest coverage ratios. Liquidity is adequate.
We expect the business’ positive momentum to continue in FY 2024. H1 is projected to be significantly better y-o-y, while H2 is anticipated to improve only marginally due to the high base effect.
Morning Views Asia: Gajah Tunggal, Rakuten, Road King Infrastructure, SK Hynix
Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.
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