Full Year 2024 Johns Lyng Group Ltd Earnings Call Transcript
Key Points
- Johns Lyng Group Ltd (ASX:JLG) achieved a record-setting BAU EBITDA in FY24.
- The company has expanded its revenue base significantly from $286.8 million in FY18 to over $1.159 billion in FY24.
- Johns Lyng Group Ltd (ASX:JLG) has successfully grown its business in the US by 34% over the past two years.
- The company has a diversified and large client base, mitigating concentration risk and insulating from economic cycles and inflationary pressures.
- Johns Lyng Group Ltd (ASX:JLG) has a strong balance sheet with $21 million in net cash and more than $80 million in undrawn revolving credit facilities.
- Revenue in FY24 was slightly down compared to the previous year due to record contributions from large-scale natural disasters in FY23.
- The company experienced underperformance in New South Wales, which required rectification.
- There was a discrepancy between the reported FY24 revenue and the company’s guidance, with revenue falling short by 4%.
- The EBITDA margin is expected to step down from 13.2% in FY24 to 12.3% in FY25.
- The company’s Express business was negatively impacted by benign weather conditions in the second half of FY24.
Good morning, and thank you for joining us for this presentation of the Johns Lyng Group's FY24 results. My name is Scott Didier, and I'm the Group Chief Executive Officer of JLG. Before I introduce our other presenters joining me today are Mark to provide some commentary on the 2024 financial year. FY24 was another stellar year of growth and progression for the group, achieving a record-setting BAU EBITDA.
We are winning new clients and contracts and strengthening our relationships both across Australia and New Zealand and importantly, the US. We have been very clear with our growth strategy, since 2004, growth has been at the center of everything we do. It's our DNA from the front door to the back door. We are sales-based organization.
Put some context around that growth. Since we listed in late 2017, we have achieved a remarkable expansion revenue base of $286.8 million in FY18 to over $1.159 billion today. We are proud of that growth and value we are delivering to it and the
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