- SATS (SGX:S58) slipped into net loss in 1Q24, after booking S$29.7mil integration costs and amortization expenses relating to the acquisition of WFS. Excluding these, net loss was S$0.2mil, which was in line with our expectations. Operating gains were cancelled out by higher interest expense.
- - Read this at SGinvestors.io -
- Maintain NEUTRAL recommendation and target price of $2.51 for SATS. We lowered FY24e earnings forecast by 49% to take into account the integration costs.
The Negatives
Acquisition-related costs weighed on earnings.
- - Read this at SGinvestors.io -
Net debt rose to S$2.2bn (Mar 23: S$0.77bn).
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Peggy Mak Phillip Securities Research | https://www.stocksbnb.com/ 2023-08-17
Read also Phillip's most recent report:
2024-03-04 SATS - Focus On Refinancing Debt & Managing Costs.
Previous report by Phillip:
2023-11-14 SATS - A Weary Recovery.
Price targets by 4 other brokers at SATS Target Prices.
Listing of research reports at SATS Analyst Reports.
Relevant links:
SATS Share Price History,
SATS Announcements,
SATS Dividends & Corporate Actions,
SATS News Articles
