ASX 200 dips, EML soars after reporting, Appen sinks

The S&P/ASX 200 Index (ASX:XJO) fell by 0.5% today. The EML Payments Ltd (ASX:EML) share price soared after reporting.

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) fell by around 0.5% today to 6,885 points.

It was one of the busiest days of reporting season so far, with some major movements in both the gains and declines sections of the market.

Here are some of the highlights from today:

EML Payments Ltd (ASX: EML)

The EML share price was the best performer in the ASX 200 today after it reported its FY21 half-year result.

It reported that gross debt volume (GDV) increased by 54% to $10.2 billion, which drove revenue higher by 61% to $95.3 million.

The earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 42% to $28.1 million and underlying net profit rose 30% to $13.2 million. The ASX 200 share also reported underlying operating cash inflows grew by 68% to $35.1 million.

EML re-instated its EBITDA guidance range, it's expecting EBITDA to be between $50 million to $54 million (up 48% to 56%) for FY21 whilst underlying net profit is expected to be between $30 million to 33.5 million (up 25% to 40%).

The company ended the period with $136.5 million of cash.

Webjet Limited (ASX: WEB)

The Webjet share price rose by 5% today after the travel business reported its FY21 half-year result.

The ASX 200 travel business reported that its total transaction value (TTV) was down 89% to $267 million because of COVID-19 impacts. Revenue declined by 90% to $22.6 million.

A focus on expenses and reducing the cash burn saw underlying costs fall 52% to $62.7 million. The monthly cash burn is down to $4.8 million, the company had a cash balance of $283 million.

Reducing costs by around half wasn't enough to stop underlying EBITDA plunging to a loss of $40.1 million. The underlying net loss was $60.5 million, with the statutory net loss being $132.2 million which included a number of non-cash items.

Webjet revealed that its online travel agency (OTA) business has returned to profitability due to its focus on the domestic leisure market and the ability to utilise its variable cost base.

Rio Tinto Limited (ASX: RIO)

The big ASX 200 miner reported its FY20 result this afternoon.

It reported that it generated US$15.9 billion of net operating cashflow, an increase of 6%. Rio Tinto also made US$9.4 billion of free cashflow, up 3%. Net earnings rose 22% to US$9.8 billion.

The high level of profit and cashflow allowed Rio Tinto to declare a 26% increase to the annual dividend to US$5.57 per share. It also declared a special dividend worth US$0.93 per share for investors. Including the special dividend, the FY20 dividends represented a 72% dividend payout ratio.

Rio Tinto was also able to reduce its net debt by US$3 billion to US$0.7 billion during the year.

Heavy declines in the ASX 200

There were some big declines today in the ASX 200.

The worst performer was the Zip Co Ltd (ASX: Z1P) share price which fell 14% after yesterday's price query from the ASX.

Gold miner Evolution Mining Limited (ASX: EVN) suffered a 10% share price decline after reporting its result.

The Appen Ltd (ASX: APX) share price fell more than 9% after it was on the receiving end of a negative broker report.

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends EML Payments. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Appen Ltd and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia has recommended EML Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Opinions

2 ASX shares I have been buying in 2024!

I’m a believer in the long-term outlook of these stocks.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

a young boy dressed up in a business suit and tie has a cute grin and holds two fingers up.
Opinions

2 of my top ASX 200 shares to consider buying before April

I would happily exchange dollars for these two shares right now.

Read more »