Clinuvel Pharmaceuticals Ltd
CUV: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$61.00 | Qvfp | Xqmnsyrv |
Clinuvel Earnings: Shares Undervalued as Revenue Growth Accelerates
No-moat Clinuvel's fiscal 2024 underlying EBIT rose 6% to AUD 44 million, in line with our forecast. Sales grew 13% to AUD 88 million on increased demand for Scenesse, with growth accelerating to 14% in the second half versus 10% in the first. Expense growth outpaced the top line due to increased marketing and headcount, with underlying EBIT margin declining 280 basis points to 49%. However, second-half profitability slightly improved on the previous corresponding period.