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Highlights

  • Hansen Technologies designs and implements software that assist in bringing new products and services faster to the market
  • The company mainly caters to the communications services, utilities and energy industries
  • Othonna Pty. Ltd. has the highest stake in the firm with a shareholding of nearly 13.98%

Hansen Technologies Limited (ASX: HSN), established in 1971, designs and implements software that allows communications and energy service providers to bring new products and services faster to the market. The company mainly caters to the communications services, utilities and energy industries.

In the first half of the financial year 2024 (1HFY24), the company saw a 12.5% YoY increase in operating revenue to AUD 167.7 million, while underlying net profit after tax went up by 21.1% YoY to AUD 20.1 million. The 1HFY24 performance was backed by support for customers’ digital transformation, investments in product and sales and favourable foreign exchange impacts.

During the reported period, the company also reported repayments of substantial debt and achievement of organic growth via several strategic customer wins and upgrades.

Top 10 shareholders of HSN

The top 10 shareholders of HSN have around 31.29% shareholding, while the top four have around 22.24% of the total shareholding. Othonna Pty. Ltd. and QVG Capital Pty Ltd. have the highest stake in the firm with a shareholding of ~13.98% and ~3.31%, respectively.

Recent business update

On 13 June 2024 via an ASX-filing, the company announced about several changes in the leadership. The company to have two operational verticals to assist anticipated growth, increasing size and global reach, effective from 1 July 2024. The two operational verticals are communication and media, led by Scott Weir and energy and utilities, led by David Castree. Both are experienced long term HSN executives, bringing significant and varied knowledge gained over many years. 

Moreover, Niv Fernando joined the board again as chief strategy officer, while Andrew Hansen, stepped down as CEO, assuming the new role of global CEO and managing director.

Outlook

In FY24, the company expects to report 5-7% growth in revenue and deliver underlying EBITDA margin above 30%. With the inclusion of powercloud, HSN expects revenue growth of 11-13% and underlying EBITDA margin of over 26% in FY24.

By the end of the FY25, HSN expects that powercloud will turn EBITDA accretive. The firm is assessing potential aggregation opportunities, focusing on mission-critical companies.

Share performance of HSN

HSN shares closed 1.136% lower at AUD 4.350 apiece on 14 June 2024 with a market cap of AUD 895.07 million. In the last one year, HSN’s share price has dropped by nearly 12.82%, while in the last three months, it has declined by almost 14.54%.

The 52-week high of HSN is AUD 6.06, recorded on 23 August 2023, while the 52-week low is AUD 4.34, recorded on 13 June 2024.

HSN 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 14 June 2024. The reference data in this report has been partly sourced from REFINITIV.