Ventia Services Group Ltd

VNT: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$9.20	Hpkm	Scgctptr

Ventia Result: Balance Sheet Strengthens on Robust Earnings Growth

Mark Taylor

Aug 21, 2024

No-moat Australasian infrastructure services provider Ventia reported a 15% increase in first half 2024 NPAT to AUD 101 million, marginally beating our expectations. The market was apparently disappointed in the result, the shares down nearly 7% on the day. We increase our fair value estimate by 6% to AUD 4.50 and continue to view the shares as somewhat undervalued in 3-star territory.

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