INSIGHTSAnalyst research
September 13, 2021

Blue Ocean Equities Research Report on DW8 (13/09/21)

DW8's operating revenue grew 410% in FY21, due to (i) the acquisition of Wine Delivery Australia (WDA) in November 2020 and (ii) strong underlying growth in its innovative, disruptive, vertically integrated WINEDEPOT platform. The result also contained higher than expected (non-cash) share-based charges, meaning FY21's EBITDA and NPAT results were lower than forecast. We make no changes to our revenue or EBITDA forecasts, maintaining our BUY recommendation.

Written by:

Stuart Turner

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