Full Year 2024 Brickworks Ltd Earnings Call Transcript
Key Points
- Brickworks Ltd (ASX:BKW) achieved a 56% decrease in carbon emissions in Australia compared to FY26, supported by product redesign and increased use of recycled materials.
- EBITDA increased across building products operations in both Australia and North America.
- The company declared a dividend, maintaining or increasing dividends for the last 48 years.
- Strong demand in the property division led to a 9% increase in rental income to $163 million.
- Investments delivered an underlying contribution of $137 million for the year, with a combined market value of $3.383 billion at the end of July, up by 8%.
- Brickworks Ltd (ASX:BKW) recorded a statutory loss of $119 million for the year due to significant non-cash devaluations and impairments.
- Underlying NPAT and EBITDA both declined significantly to $61 million and $157 million respectively.
- Net debt increased by 20% to $682 million, with gearing increasing slightly.
- The company faced a decline in building activity, resulting in a 12% decline in revenue from building products in Australia.
- Non-cash impairment of $135 million net of tax impacted the carrying value of intangibles, right of use assets, and plant and equipment.
Good afternoon, ladies and gentlemen.
The conference is now being recorded.
And welcome to the Brickworks analyst briefing for the year ended July 31, 2024. With me today is Grant Douglas, our CFO, and Megan Kublins, Executive General Manager, Property and Development.
Grant joined Brickworks in 2011 and was appointed CFO in 2022. Among a range of senior positions held over the years, he played a key role in the establishment and growth of our North American operations. Megan has been with the company for 23 years, managing all aspects of our property business. She has been instrumental in establishing and growing the property trust including fostering the strong relationship we have with Goodman.
Before getting started, I'd like to acknowledge and give thanks to Lindsay Partridge, who recently retired as Managing Director. after a remarkable 39 years of service to
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