Full Year 2024 Environmental Group Ltd Earnings Call Transcript
Key Points
- Revenue increased by nearly 19% to $98.3 million.
- Normalized EBITDA up by 51.7% to $10.1 million.
- EBITDA margins improved from 8.1% to 10.3%.
- Strong guidance for next year with an expected 25% increase in revenue.
- 50% of revenue is now recurring from service and maintenance jobs.
- Tax rate was high at 35% due to timing issues and R&D costs.
- Operating cash flow was $4.2 million, impacted by $2.8 million in working capital for a recent acquisition.
- Revenue from the Clean Air division was flat year-on-year, with EBITDA down slightly.
- Lithium market slowdown affected project growth in the Clean Air division.
- Integration costs for the Air Tight Solutions acquisition impacted financial results.
Hi, everyone. Welcome to the FY24 results presentation for the Environmental Group. It's always a pleasure to get up here with such good results and be able to speak to investors about how it's gone. So just quickly for those of you who don't know the company as well, we made up of three larger operating divisions, EGL Baltec, Energy, and Clean Air, which I'll take you through and then add to organic growth areas of Water and Waste that will come to those when I talk to operations.
Pleasure to talk to you about our results for this year. So revenue up by nearly 19% in the prior comparable period, up to $98.3 million are they nice to crack the 100s, but that's right. We'll do it next year, normalised EBITDA up by 51.7% to $10.1 million d. EBITDA margins increasing very strongly from 8.1% to 10.3%, obviously, driving that earnings growth higher than the revenue growth, which is great to see. We got that operating leverage through the business.
Again, very strong guidance for next year to increase approximately 25% on this
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