Date: 03/12/2024
*** GENERAL ADVICE ONLY***
WiseTech Global (WTC:ASX) held its Investor Day 2024 on December 3, 2024, providing key insights into the company’s strategy, operations, and future outlook
Key Highlights:
- Strong Market Position: WiseTech serves over 17,000 logistics companies across 183 countries, including 46 of the top 50 global third-party logistics providers
- CargoWise Adoption: More than 50% of the Top 25 Global Freight Forwarders have rolled out or are in the process of rolling out CargoWise, the company’s leading logistics execution platform
- Growth Strategy: WiseTech continues to execute its 3P strategy – Product, Penetration, and Profitability
- Acquisition Strategy: The company has made approximately 50 acquisitions since IPO, with a total consideration of $1.9 billion across 24 countries
- CargoWise Next: WiseTech introduced CargoWise Next, a next-generation platform with new features including CargoWise Neo, Advanced Order Manager, and Greenhouse Gas Emissions Calculator
- Global Customs & Compliance: The company is expanding its global customs coverage to over 75% of global manufactured trade
Operational Updates
- State Bank of India (SBI) contract rollout commencing in December 2024
- White Label ATMs (WLA) deployment expected in early 2025
- Acquired Tata Communications Payment Solutions Ltd (TCPSL) for $75.7 million, adding 4,600 Indicash ATMs
Outlook
- FY25 Guidance reaffirmed:
- Revenue: $80-90 million
- EBITDA: $30-35 million
- TCPSL acquisition expected to contribute in FY26:
- Revenue: $28-30 million
- EBITDA: $5-7 million
- NPAT: $2-4 million
Findi shows promising growth potential with its strategic acquisitions and expansion plans. The company’s focus on diversifying its services and increasing its footprint in India positions it well for future growth. However, investors should monitor the integration of TCPSL and the execution of the SBI contract rollout, as these will be crucial for meeting FY25 guidance.
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.
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