Half Year 2024 Capital Ltd Earnings Call Transcript
Key Points
- Revenue growth of nearly 10% compared to the first half of last year.
- Strong EBITDA margin of 25%, despite a slight year-on-year decrease.
- Continued strong ROCE returns at 17.4%.
- Declared a dividend of $0.013 per share, consistent with the previous year.
- Expansion into lower-risk geographies like the US and Canada, diversifying the business.
- EBITDA slightly down year-on-year for the first half at $42.9 million.
- Delays in significant contracts in Nevada, impacting expected timelines.
- High AP balance into the half, reflecting elevated levels of accounts payable.
- Challenges in labor recruitment and retention, particularly in the US.
- Increased CapEx to $44.3 million for the half, slightly ahead of the midpoint for the year.
Thank you, everyone, and good morning. Welcome to the Capital Limited half-one 2024 results. My name is Peter Stokes; I'm CEO of the company. I'm joined on the call today by Rick Robson, our CFO. And in the questions, we'll also have Conor Rowley, and our Chairman, Jamie Boyton, joined for any other questions that people might have.
If I could go to the next slide, please. Just at this slide, we just went through standard disclaimers. There's a lot of information in there if you wanted to refer to any of those standard things that we would always need to declare before the meeting.
The financial highlights for the business for the half. Revenue continues to grow in the business, and we were up some just under 10% on half one of last year. We're continuing to grow in a number of key regions, and we'll go into that in more detail through the presentation. EBITDA was slightly down half on half or year on year for the first half at $42.9 million, but still a very healthy 25% EBITDA margin. We're continuing to deliver strong ROCE
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