Full Year 2024 Wagners Holding Company Ltd Earnings Call Transcript
Key Points
- Wagners Holding Co Ltd (ASX:WGN) reported a significant improvement in EBIT, growing by 81% year-on-year to $40 million.
- The company declared a dividend of $0.025 per share, marking a return to dividend payments since 2018.
- Revenue from the Southeast Queensland-based construction materials segment increased to $216 million, with an improved EBIT margin of 14.7%.
- The Wellcamp quarry plant upgrade was completed, allowing for increased product range and lower production costs.
- The company has a solid forward order book and expects continued strong demand for its core products in FY25.
- Losses in the CFT USA business were greater than in FY23, impacting overall EBIT results.
- Operating costs increased due to higher repairs and maintenance expenses and increased labor costs.
- The company incurred a $3.2 million impairment related to the early termination of the Wacol facility lease.
- The concrete business faced challenges, although there were signs of improvement by the end of Q4.
- The New Zealand project in the CFT segment delivered a material loss, negatively impacting overall results.
Good morning, everyone, and welcome to Wagners Full Year FY24 Results Webinar. My name is Sam Wells from NWR. And joining me from the company today is Managing Director, Cameron Coleman; and Chief Financial Officer, Fergus Hume. Following a brief summary of the updated release of results to the ASX yesterday afternoon, we will have some time for Q&A of the management team. (Operator Instructions) Thank you, and over to you, Cameron.
Good morning, ladies and gentlemen, and thanks, Sam. It's great to have you with us here today to present our FY24 results. We've delivered a result with significant improvement on FY23 and well ahead of the previous guidance issued to the market. The demand for construction materials and services was strong throughout the year and market conditions remain stable. This delivered an overall group revenue of $481 million, which is a slight increase on the prior year.
There was a significant
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