Original-Research: Aspermont Limited - von GBC AG Einstufung von GBC AG zu Aspermont Limited Unternehmen: Aspermont Limited ISIN: AU000000ASP3 Anlass der Studie: Research Report (Note) Empfehlung: BUY Kursziel: 0.11 AUD Kursziel auf Sicht von: 31.12.2023 Letzte Ratingänderung: - Analyst: Julien Desrosiers; Matthias Greiffenberger Record HY results 2022 - 65% Gross Profit Margin - Entering their 4th growth phase Continuing their fast growth rate. The company's long-term strategy implemented a few years ago has delivered as promised. Revenues are up 28% YoY, reaching $9.3M AUD. Strong HY cash position. The company has over $6.6M cash on hand. Highest HY gross margin. The company's gross margin continues to grow, reaching 67% for the HY 2022. Technological full leverage. The company is currently in a strong position with cash, revenues, and margins to fully leverage their technological platforms, create new products, grow their audience and provide investors with significant upside. Accountable. The company's guidance is detailed, with precise KPIs to achieve. This allows investors to clearly understand management views and renders management accountable for succeeding in reaching these metrics or for failing to do so. Scalable Model. The company's scalable XaaS models deliver high margin and recurring revenue stream, scalable to different sectors, geographies and languages. Operational Agility Decentralised structure and scalable human resources for rapid launch or products while controlling investment risk. Based on our DCF model, we maintain our price target to 0.11 AUD (0.08 EUR) per share. Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/25315.pdf Kontakt für Rückfragen GBC AG Halderstraße 27 86150 Augsburg 0821 / 241133 0 research@gbc-ag.de +++++++++++++++ Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR. Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,7,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ Date and time of completion of this research: 05.09.2022 (13.45 pm) Date and time of first distribution: 05.09.2022 (3.00 pm) Target price valid until: max. 31.12.2023 -------------------übermittelt durch die EQS Group AG.------------------- Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.

Original-Research: Aspermont Limited - von GBC AG Einstufung von GBC AG zu Aspermont Limited Unternehmen: Aspermont Limited ISIN: AU000000ASP3 Anlass der Studie: Company presentation Empfehlung: BUY Kursziel: 0.09 AUD Letzte Ratingänderung: Analyst: Julien Desrosiers; Felix Haugg Upcoming Investor Event: Aspermont to present at digital International Investment Forum (IIF) On February 17, the IIF International Investment Forum will take place. At this forum, Aspermont Ltd. will also present its business model and current business development. Presentation slot: Aspermont Ltd. (ISIN: AU000000ASP3) 04.00 am EST (New York, Toronto time) 10.00 am CET (Frankfurt, Paris time) 05.00 pm HKT (Hong Kong, Perth, Singapore time) Speaker: Alex Kent, CEO The International Investment Forum (IIF) is a live, digital-only event that provides access to publicly traded companies from the small- and mid-cap segments around the world. Speakers on February 17, 2022 will be board members of publicly traded companies from the technology, commodities, security, medical, logistics and aerospace sectors. The program with schedule can be found at the following link: https://ii-forum.com/timetable-all-events/ Registrations for this event and Aspermont' presentation are available at the following link: https://us06web.zoom.us/webinar/register/8416443987095/ WN_fM2DLtC_S7eMzHfL7uYamA Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/23373.pdf Kontakt für Rückfragen GBC AG Halderstraße 27 86150 Augsburg 0821 / 241133 0 research@gbc-ag.de +++++++++++++++ Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR. Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ Zeitpunkt der Fertigstellung: 11.02.2022, 10:00 Zeitpunkt der Veröffentlichung: 15.02.2022, 11:00 -------------------übermittelt durch die EQS Group AG.------------------- Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.

Original-Research: Aspermont Limited - von GBC AG Einstufung von GBC AG zu Aspermont Limited Unternehmen: Aspermont Limited ISIN: AU000000ASP3 Anlass der Studie: Research Update Empfehlung: BUY Kursziel: 0.09 AUD Kursziel auf Sicht von: 31/12/2022 Letzte Ratingänderung: Analyst: Julien Desrosiers; Felix Haugg Preliminary FY2021 shows positive Net Profit After Tax FY2021 preliminary report shows continued growth As per their preliminary numbers, the company has delivered on all their guidance: - Overall growth - Subscriptions growth rate to go back to pre-Covid-19 levels - Growth in audience - High growth in new products - Continued growth in margins and profitability The company has now cumulated 21 consecutive growth Quarters and generated positive return for shareholders for the past 5 years, even more when compared to the ASX and their peers in the media sector. We will publish full FY2021 report and update the share price target with the release by the company of their final FY 2021. Rating: BUY Target price: 0.09 AUD Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/23189.pdf Kontakt für Rückfragen GBC AG Halderstraße 27 86150 Augsburg 0821 / 241133 0 research@gbc-ag.de +++++++++++++++ Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR. Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ Date and time of completion of this research: 09/12/2021 (11.48 am) Date and time of first distribution: 13/12/2021 (09.00 am) -------------------übermittelt durch die EQS Group AG.------------------- Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.

Original-Research: Aspermont Limited - von GBC AG Einstufung von GBC AG zu Aspermont Limited Unternehmen: Aspermont Limited ISIN: AU000000ASP3 Anlass der Studie: Research Update Empfehlung: BUY Kursziel: 0,09 AUD Kursziel auf Sicht von: 31.12.2022 Letzte Ratingänderung: Analyst: Julien Desrosiers; Felix Haugg Impressive revenue growth and notable raise in gross profit Aspermont's performance demonstrates the company's ability to grow at a fast rate. When compared to Q4-2020, the company's revenues increased in all sectors in Q4-2021. Currently, we can only look at partial numbers due to Australian stock market regulatory laws. These figures show a clear increase in all revenue sectors. Their XaaS and service sectors grew by 20% and 17%, respectively, and now account for over 85% of total revenue. Their new data sector grew at a rate of 162%. Because this division is less developed, faster growth is expected. Nonetheless, it demonstrates how much potential management saw in this opportunity. The increase in revenue did not result in a proportional increase in gross profits margin. The quarter-on-quarter increase was only 12%, half of the total revenue increase of 24%. This is unsurprising, as we believe Aspermont needed to invest more money to maintain its current level of growth and develop the new Data sector, as evidenced by their Q4-2021 OPEX increase. Direct OPEX costs increased by 33%, owing to investments in new businesses and increased operational capacity to support long-term growth. All new investments are adequately funded by internal cash flow. However, reaching a gross margin of 65% is a significant achievement. We believe that the key to their new development strategy was to generate higher margins and use the extra cash flow to fuel growth. This appears to be working for the company at the moment, and we are eagerly awaiting the full Q4-2021 and FY-2021 results, which should be released very soon, to confirm our position. In the fourth quarter, Aspermont experienced two significant events. The company announced the establishment of a new fintech joint venture as well as the launch of their first-generation capital raising platform. Aspermont's current product offering in the mining sector will be enhanced by the new partnership with Spark Plus and IPC. Spark Plus is a corporate advisory firm that specializes in Asian roadshows for Asian companies. IPC is a Sydney-based licensed securities dealer. Across Asia and Australia, they provide Wealth Management and Corporate Advisory services to wholesale and sophisticated investors. The importance of the capital raising sector cannot be overstated. This is a fiercely competitive industry that is undergoing a complete transformation. Traditional banks and institutions continue to dominate the market, but new entrants are gaining traction. We believe that Aspermont unique position in the mining sector can pave the way for important financing activities and the timing of the company could not be better as the commodities have now entered in a super cycle. The association with both Spark Plus, and IPC could generate substantial cash flow within the next few years. We believe the gross profits to be very healthy and the growth to be in line with our expectations. We therefore confirm our buy rating with a 0.09 AUD target price. Die vollständige Analyse können Sie hier downloaden: http://www.more-ir.de/d/23119.pdf Kontakt für Rückfragen GBC AG Halderstraße 27 86150 Augsburg 0821 / 241133 0 research@gbc-ag.de +++++++++++++++ Offenlegung möglicher Interessenskonflikte nach § 85 WpHG und Art. 20 MAR. Beim oben analysierten Unternehmen ist folgender möglicher Interessenkonflikt gegeben: (5a,11); Einen Katalog möglicher Interessenkonflikte finden Sie unter: http://www.gbc-ag.de/de/Offenlegung +++++++++++++++ Date and time of completion of this research: 19.11.2021 (05:58 pm) Date and time of first distribution: 19.11.2021 (08:00 am) -------------------übermittelt durch die EQS Group AG.------------------- Für den Inhalt der Mitteilung bzw. Research ist alleine der Herausgeber bzw. Ersteller der Studie verantwortlich. Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss bestimmter Börsengeschäfte.