Well, what a mammoth day for reporting on the ASX. Investors were inundated with full-year report after full-year report — we don't blame you if you're still working your way through some of those announcements.
Unfortunately, the higher number of earnings released did not coincide with a better outcome for the broader market.
Out of the companies listed in the S&P/ASX 200 Index (ASX: XJO), only 72 rose or remained flat — the remaining 128 slipped lower.
We'll quickly unpack today's results and then wrap things back up for tomorrow:
Those that reported on the ASX today
A2 Milk Company Ltd (ASX: A2M)
Shares in A2 Milk took the elevator downwards after the company reported its FY21 full-year results. As border closures continue to impact the daigou sales channel, the infant formula maker incurred significant damage to its revenue and earnings.
The takeaway points:
- Revenue down 30.3% to NZ$1.21 billion
- Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 77.6% to NZ$123 million
- Stock write-downs of NZ$109 million
- Net profit after tax down 79.1% to NZ$80.7 million
- Cash balance of NZ$875.2 million
- Board decides against capital return
- Outlook: Tough year ahead in FY 2022
The A2 Milk Company share price finished the day down 12.32% trading at $6.01.
Woolworths Group Ltd (ASX: WOW)
The Woolworths share price was a more positive performer following its reporting of full-year results for FY21.
Shares in the supermarket giant inched 0.42% higher to $40.99 on the back of a major jump in earnings. The company also announced a $2 billion buyback and a bumper dividend to boot.
The takeaway points:
- Group sales rose 5.7% to $67,278 million
- e-Commerce sales surged 58.1% to $5,602 million
- Group earnings before interest and tax (EBIT) increased 13.7% to $3,663 million
- Group net profit after tax up 22.9% to $1,972 million
- Final dividend of 55 cents per share
Appen Ltd (ASX: APX)
Lastly, the Appen share price plummeted on the ASX today after reporting its earnings fell more than 50% in its FY21 result. Investors were clearly rattled by the decrease, resulting in the tech company's shares falling 21.4% to $10.86 by the end of the session.
The takeaway points:
- Group revenue down 2% to US$196.6 million
- Annual contract value increased 16% to US$119.6 million
- Underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) down 14.3% to US$27.7 million
- Interim dividend of AUD4.5 cents per share 50% franked declared, flat on 1H20 dividend.
- Net profit after tax down 55.1% to US$6.7 million
- Appen to acquire location data provider Quandrant for US$25 million upfront
- Outlook: higher confidence in the pipeline supported by a stronger order book
ASX shares reporting next week
We might have reached the peak of the ASX reporting mountain today. However, tomorrow we embark on the journey back down with a handful of companies dispensing their results.
Some of the big-name companies set to release their financials tomorrow include BWX Limited (ASX: BWX), Freedom Foods Group Ltd (ASX: FNP), Wesfarmers Ltd (ASX: WES), Bega Cheese Ltd (ASX: BGA), and Pointsbet Holdings Ltd (ASX: PBH).
To see the full line-up, check out our ASX Reporting Season Calendar.
