Amaysim Australia Ltd (ASX: AYS) announced that Chief Executive Officer and Managing Director (CEO) Julian Ogrin will be leaving the company and the role of CEO will be assumed by Peter O’Connell. This will come into effect from 1 July 2018. Mr. Ogrin joined the Board in 2013 and has served as CEO since 2015 prior to Amaysim was listed on ASX. Further, Peter was appointment after consideration of the company’s strategic plans as well as the skills, experience and attributes which Company thinks are necessary to carve out for a strong future for Amaysim in an increasingly competitive market, drive profitable growth across the group and build shareholder value.
Moreover, with these changes in the Board, the Company also announced its FY18 earnings guidance based on its year to date results to May 2018. It expects that it will be able to generate a statutory net revenue between the range of $573 million-$583 million with statutory EBITDA between the range of $36 million-$39 million. Moreover, it expects that its mobile and Broadband subscribers will be between 1,150,000-1,160,000 and 14,500-15,500 respectively. This guidance was based on the improved growth year to date in subscribers across mobile, energy and broadband, with new product launches, refresh of the mobile product suite and successful marketing campaigns. AYS have also been working for its diversification strategy and has been providing growth and resilience in the business that puts it in a much stronger position to face unprecedented competition in mobile than when it was listed in 2015.
It was worth noting that after this period of repositioning, mobile ARPU has stabilised in the second half as the rate of existing subscribers migrating to lower price plans has slowed. The Group will remain focussed on cross-selling higher ARPU broadband and energy to its significant mobile subscriber base and the key focus in the coming time will be to execute on a number of tactical cross-sell initiatives and grow brand awareness as a multi-service provider. With these changes, the stock price climbed up initially by 2.02 per cent as on 26 June 2018 (13:05 PM AEST) before it started narrowing to $0.84.
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