Australia's Domain Holdings slumps as HY23 guidance misses UBS estimates

Domain Holdings Australia

20/12/2022 24:32

** Shares of Domain Holdings  DHG.AX  tumble as much as
14.4% to A$2.44, lowest since April 2020
    ** DHG posts sharpest intraday fall since Oct. 2018
    ** The property listing firm sees FY23 costs to be in the
range of A$250 mln ($167.63 mln)to A$255 mln compared to its
previous forecast range of A$275 mln -A$280 mln  urn:newsml:reuters.com:*:nFWN3391LS
    ** Co expects FY23 EBITDA margins to see a low single digit
percentage point reduction versus FY22
    ** UBS says Co's HY23 EBITDA guidance infers a revenue
downgrade
    ** Brokerage says Domain's EBITDA guidance is well below its
estimates of A$72mln 
    ** UBS sees 1H23 revenue growth of 17%, however co infers a
growth of 4%
    ** Stock has fallen 49.4% this year as of last close 
($1 = 1.4914 Australian dollars)
 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))