Xero Ltd (ASX:XRO)

A$ 128.97 -0.32 (-0.25%) Market Cap: 19.73 Bil Enterprise Value: 19.45 Bil PE Ratio: 123.41 PB Ratio: 15.37 GF Score: 89/100

Half Year 2024 Xero Ltd Earnings Call Transcript

Nov 08, 2023 / 11:15PM GMT

Release Date Price: A$114.72 (+1.53%)

Transcript

Sukhinder Singh Cassidy

Xero Limited - CEO

Good morning from Sydney, Australia. Thank you for joining our investor briefing today, covering Xero's financial and operating results for the half year ending the 30th of September 2023. I'm Sukhinder Singh Cassidy, this time I'm getting it right, I think. And I'm with Kirsty Godfrey-Billy, our CFO.

Our first agenda item is an introduction in summary of Xero's performance during the half. I'll then pass to Kirsty to cover our financial results in detail before I finish with strategic themes and Xero's outlook. We'll then move to Q&A.

So moving on to a summary of our results on Slide 5. I'll touch on a few of the key metrics here, and Kirsty will discuss them in more detail later. Revenue grew 21% to $799.5 million. Headline EBITDA of $206.1 million is up $97.5 million on last year. Operating income of $67.4 million increased $46.7 million year-on-year. This strong operating results drove free cash flow generation with free cash flow increasing to $106.7 million. This reinforces the strength of Xero's fundamental business and shows we are

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