Australia's Altium hits over 5-month low on weak margin guidance

Altium

21/02/2022 24:15

** Shares of Altium Ltd  ALU.AX  slide as much as 10% to
A$31.04, their lowest since Sept. 10, 2021
    ** Software maker says it expects underlying EBITDA margin
to be in lower end of a 34%-36% guidance  urn:newsml:reuters.com:*:nASX210SMb
    ** Jefferies says margins update implies EBITDA of $73.5
mln, 4% below consensus estimate of $76.5 mln
    ** ALU posts core net profit after tax of A$22.9 mln, in
line with consensus estimates
    ** "Altium reported a better-than-expected H1 result...
however, the market may be disappointed by the softer EBITDA
margin guidance" - Citi Research
    ** Stock marks biggest intraday pct loss since Aug. 30, 2021
    ** Stock down 23.7% this year, as of last close

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))