THL - Tourism Holdings

[blackie]

The other stock to get three picks this year was Tourism Holdings, picked by Jarden, Craigs and Forsyth Barr.

In theory, it should be well placed to ride the back of a solid recovery for tourism in 2023.

"While it operates in an industry tied to the fortunes of the economic cycle, we see positive signs ahead," said Lister.

"It offers excellent exposure to the recovering travel sector, and should tourism keep improving as we expect, the company is well placed to capitalise on this. We also believe the Apollo merger is a positive for the business."

Jarden's Allbon said the merger between THL and Apollo Tourism & Leisure had created the world's largest recreational vehicles (RV) rentals business.


"THL is our preferred Covid recovery play, with a strong earnings outlook underpinned by pent-up tourism demand, merger synergies and a more manageable cost base (vs airlines) to underpin delivery," he said

Brokers' keen on THL in today's Herald picks.  Of those three, only Forbar came out ahead on last years pick thou!  I'm not so sure about this "pent up tourism demand" either.  Wonder what underpins that assumption?  The rapid rises in the cost of living would be a counterweight anyway.

I agree, I think that due to NZs late opening of the borders any overseas visitors  "pent up demand" probably went elsewhere

[Waltzing]

Would you say NZ was just to far away and the world thought it was the Hobbit kingdom....

is there the back packer staff to even cope with demand if it arived...

a case of BYO...

A GOVT concerned with other things....

and do certain demographics not actually want them here anyway..

[Crackity]

THL PROVIDES PRO FORMA UNDERLYING FY23 GUIDANCE

thl is nearing completion of its first set of half year results following its merger with Apollo Tourism & Leisure Ltd (ATL) and with that visibility, has been assessing expectations for the full year. As a result , thl now expects an improved underlying net profit after tax (NPAT) for FY23.


Market likes todays announcement - up 5% so far

MCK should report Friday - expecting improvement from them too

And AIR still scalping the punters  woo hoo ( as a shareholder )

[Crackity]

We have debt facilities available to fund the re-fleet


The Board and management are conscious of maintaining an appropriate net debt to EBITDA ratio throughout the regrowth programme


o We do not expect to require additional equity to undertake the fleet regrowth programme

o Fleet growth will be partly funded by retained earnings and proceeds from the sale of existing fleet

o thl's dividend policy during the fleet regrowth programme will recognise the need to maintain ....



Hmmmm - so long and thanks for all the fish THL

[Basil]

Well done mate, you'll be dining well for quite some time on the big kingfish you caught there.

[winner (n)]

Suppose BusinessDesk editors not in happy mood today with a headline like this

  Tourism Holdings notes potential speedbump in earnings forecast

Tourism Holdings predicts it will still report a net profit of at least $48 million in the June year but sees a risk arising if vehicle sales take longer than expected.

[Waltzing]

Some global cruising going on ...

[Waltzing]

well if Tourism is not ramping up in NZ yet it is in Europe..

https://edition.cnn.com/travel/travel-europe-crazy-tourism-summer/index.html

[Waltzing]

Un real!!!   Is this going to be the world of the future... are we talking Welcome to Floston Paradise.. the 5th element...

https://www.telegraph.co.uk/world-news/2023/07/14/biggest-royal-caribbean-cruise-ship-set-sail-january-2024/

https://www.youtube.com/watch?v=c9DtLUv5Hrc

[BlackPeter]

Un real!!!   Is this going to be the world of the future... are we talking Welcome to Floston Paradise.. the 5th element...

https://www.telegraph.co.uk/world-news/2023/07/14/biggest-royal-caribbean-cruise-ship-set-sail-january-2024/

https://www.youtube.com/watch?v=c9DtLUv5Hrc

What a gigantic floating Petri Dish ... but probably great as canary in the coal mine to indicate the next pandemic.

Dare I say it: "Small is Beautiful"?

[Waltzing]

yep stay away!!!

[Left Field]

A good result in tough times.....

https://www.nzx.com/announcements/417232

• Statutory net profit after tax (NPAT) of $49.9M, an increase of $52M on the prior year
• A record underlying NPAT of $47.8M and pro forma underlying NPAT of $77.1M (which includes the impact of acquisition accounting)
• Pro forma underlying NPAT of $81.1M after removing the impact of acquisition accounting, which was not included in previous guidance of $75M+
• Historic merger with Apollo completed with successful initial integration
• Group Return on Funds Employed of 15.8%
• A final dividend of 15 cents per share (100% imputed, 25% franked), representing the full year dividend as no interim dividend was paid
• New thl dividend policy targets distribution of 40 – 60% of underlying NPAT

[Waltzing]

Bit of a slow downward trend here....

Speaking of crusing around... this looks like a real life ....

https://www.youtube.com/watch?v=VDvfFIZQIuQ

https://www.nzherald.co.nz/travel/saga-cruise-ship-hit-by-massive-storm-in-bay-of-biscay/WYJTEBBWINCVXI5GDM2YGNUJE4/

[Waltzing]

well one hopes the summer bring more tourists who have a better experiance than this one....

https://www.nzherald.co.nz/nz/american-travel-blogger-dorit-liss-desperate-to-leave-new-zealand-after-vandals-smash-motorhome/TEZJHZO4JFCPDLYB5UECUPJLXI/

Some Belgium athletes in the local gymn this week and hopefully they enjoy there time here...

Stock still going side ways...

[Mos]

Good to see management's comment that this bolt on acquisition is expected to deliver 15% ROFE in year one. THL seem to demonstrate real focus on commercial disciplines that will create value as they continue to grow the business globally. 

https://www.nzx.com/announcements/425114