ASX 200 rises, EML up, Ansell announces CEO

The ASX 200 rose today, whilst EML continued to climb.

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The S&P/ASX 200 Index (ASX: XJO) went up by 0.15% to 7,293 points.

These are some of the highlights from the ASX:

bullish market

Image source: Getty Images

EML Payments Ltd (ASX: EML)

The EML share price went up around 6% today after yesterday's update about trading conditions and the ongoing regulatory issue with the Central Bank of Ireland.

In terms of the trading update, EML said that in the nine months to March 2021, gross debit volume (GDV) was up 52% to $14.9 billion and revenue was higher by 65% to $143.5 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) was higher by 62% to $43.8 million in the first nine months of FY21.

Looking at the individual segments, in the general purpose reloadable, EML has launched with Mastercard in New Zealand. In the gift and incentive segment, it's benefiting as UK shopping centres reopen. US malls are also seeing improved volumes, though parts of Canada and Europe are still in lockdown. In the virtual account numbers (VANS) segment, both Australia and Europe have contributed to GDV with the launch of new programs in the BNPL and line of credit verticals.

Regarding CBI, the ASX 200 share said that it remains in an ongoing dialogue with the CBI in relation to the concerns. There is no timeframe for the CBI to finalise its considerations of the matter.

EML said it's continuing to focus on EML's "strong" pipeline of new customers and support existing customers.

It said the financial impacts can't be fully determined for FY22.

Ansell Limited (ASX: ANN)

The Ansell share price dropped around 0.5% today after announcing who its new CEO will be.

The ASX 200 company announced today the appointment of Neil Salmon as managing director and CEO effective from 1 September 2021.

This came after the announced retirement of Magnus Nicolin and a comprehensive internal and external search for a successor.

Mr Salmon joined Ansell in 2013 as the chief financial officer and was appointed as president of Ansell's industrial GBU in 2019.

CEO-elect Neil Salmon said he was honoured to have been selected to lead Ansell:

It is a considerable responsibility to lead Ansell at this time of enormous need for our personal protection products worldwide. I thank the board for the opportunity to build on Ansell's success and I acknowledge the outstanding leadership of Magnus Nicolin in taking the company so far.

Mr Salmon will receive a base annual salary of €715,000 as well as short-term and long-term incentives.

Superloop Ltd (ASX: SLC)

The Superloop share price was unmoved today after the business announced that it's going to acquire Exetel Pty Ltd, Australia's largest independent internet service provider for $110 million, comprising $100 million in a cash consideration and $10 million in Superloop shares.

Superloop said the acquisition will accelerate the utilisation of the company's infrastructure assets through acquisition of Exetel's consumer and business customers, which amount to more than 110,000.

The business has estimated the cost synergies will be around $5 million per annum, which is related to the increased Superloop network utilisation, with all synergies expected to be realised within the first 12 months.

Superloop said the acquisition will be materially accretive for earnings per share (EPS), EBITDA and free cashflow on a FY21 pro forma basis.

The cash element of the deal will be funded by a $100 million capital raising.

Superloop is now expecting FY21 EBITDA, excluding one-off transaction costs, to be in a range of $18 million to $18.5 million.

Motley Fool contributor 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 has recommended EML Payments and SUPERLOOP FPO. The Motley Fool Australia owns shares of and has recommended EML Payments. The Motley Fool Australia has recommended Ansell Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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