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Highlights

  • Experience Co is an Australia-based company engaged in providing adventure tourism and leisure experiences.
  • In 1HFY24, EXP’s revenue increased by 20.97% to AUD 62.3 million.
  • Underlying EBITDA in January 2024 stood at AUD 2.8 million.

Experience Co Limited (ASX: EXP) is an ASX-listed company providing adventure tourism and leisure experiences across New Zealand and Australia. The company offers snorkeling, diving, and skydiving, premium, and family adventure experiences.

The company’s revenue stood at AUD 62.3 million in the first half of the financial year 2024 (1HFY24) ended 31 December 2023, compared to AUD 51.5 million in the previous corresponding period (pcp). The performance during the reported period was driven by positive conditions arising from the inbound recovery in New Zealand and Australia.

In 1HFY24, underlying EBITDA increased by 22.41% YoY to AUD 7.1 million, underpinned by ongoing recovery in skydiving volumes. The company shared that skydiving volumes stand at around 60% of pre-pandemic levels.

Recent business update

Through an ASX filing dated 11 March 2024, EXP notified about the change in the substantial holding of Richmond Hill Capital Pty Ltd and its related entities. As of 7 March 2024, the voting power has increased to 14.81% from 13.43%.

Outlook

The company marked a positive start to 2024 as in January 2024, it posted underlying EBITDA of AUD 2.8 million, compared to AUD 2.7 million on pcp.

Ongoing inbound recovery is expected in Australia and New Zealand. Additionally, the company is assessing acquisition opportunities within the treetops adventure category.

Share performance of EXP

EXP shares closed 3.225% higher at AUD 0.160 apiece on 3 April 2024 with a market cap of AUD 117.40 million. In the last one year, EXP’s share price has dropped by 41.81% and in the last three months, it has declined by 13.51%.

The 52-week high of EXP is AUD 0.290, recorded on 17 May 2023, while the 52-week low is AUD 0.150, recorded on 3 April 2024.

EXP Daily Technical Chart, Source: REFINITIV

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 03 April 2024. The reference data in this report has been partly sourced from REFINITIV.