Australia's Zip gains on upbeat HY results, annual forecast

Zip Co

25/02/2025 02:12

(Updates with UBS comments)
    ** Shares of digital finances services firm Zip  ZIP.AX 
rise as much as 16% to A$2.76, their highest levels since
January 30 
    ** Stock logs biggest intraday pct gain since January 22,
2024 
        ** Co posts cash EBTDA of A$67 mln ($42.48 mln), up
117.1% vs 1H24
        ** Zip expects to deliver cash EBTDA of at least $147
million for FY25
        ** UBS says FY25 cash EBTDA forecast ahead of
brokerage's estimate of A$138 mln
    ** With FY25 operating expenditure growth at top end of the
6-10% range, the outlook implies continued strong topline and
cash net transaction margin performance, which is positive - UBS
    ** About 25 mln shares change hands, vs the 30-day average
of 18.7 mln shares 
    ** Stock trims YTD losses to 7.3%


    ($1 = 1.5773 Australian dollars)

 (Reporting by Manasi Dasa in Bengaluru)
 ((Manasi.DasaSundeep@thomsonreuters.com;))