Gwa Group Limited · ASX:GWA
Gwa — H1 FY2026 Earnings Presentation
35 slides from Gwa's earnings presentation, Feb 16, 2026
Slide 1: ASX Announcement – Financial results presentation for the half year
16 February 2026 ASX Announcement GWA Group Limited – Financial results presentation for the half year ended 31 December 2025 GWA Group Limited (GWA) attaches the following document for immediate release to the market: “Results Presentation – Half Year ended 31 December 2025”. On 16 February 2026 at
Slide 2: GWA Results Presentation Half Year ended 31 December 2025
GWA Results Presentation Half Year ended 31 December 2025 16 th February 2026 Confidential
Slide 3: Our Presenters
Our Presenters Calin Scott Urs Meyerhans Craig Norwell Group Chief Financial Officer Managing Director and CEO Group Executive - Sales 2 Confidential
Slide 4: Agenda
Agenda 01 Overview 02 Group Financial Results 03 Business Performance 04 New Products 05 Strategic Update 06 Summary & FY26 Outlook 07 Q&A Appendix Confidential
Slide 5: 1. Overview
1. Overview Confidential
Slide 6: FY26 H1 Headlines
Financial Business Summary & FY26 H1 Headlines Overview New products Strategy update results performance FY26 Outlook Growth in demanding markets Performance FY26 H1 vs FY25 H1 Execution of Strategy Win the Plumber Group Revenue 11,000 technical interactions (FY25 H1 = 7,300) Up 2.0% Leading to AU p
Slide 7: Commitment to safety
Financial Business Summary & Overview New Products Strategy update results performance FY26 Outlook Commitment to safety • Proactive, worker driven hazard identification improving risk management • Lead indicator insights enabling earlier intervention and reduced claims • Injury severity remains low
Slide 8: 2. Group Financial Results
2. Group Financial Results Confidential
Slide 9: Revenue and EBIT growth in demanding markets
Financial Business Summary & Overview New Products Strategy update results performance FY26 Outlook A$m Normalised1 H1 FY26 H1 FY25 Change Revenue 214.1 209.9 2.0% EBITDA EBIT 47.5 39.6 46.3 38.5 2.6% 2.9% Revenue and EBIT growth in demanding markets EBIT Margin % 18.5% 18.3% 0.2pp NPAT 25.0 23.8 5.
Slide 10: Controlling the Controllables
Financial Business Summary & Overview New Products Strategy update results performance FY26 Outlook Normalised1 EBIT Bridge (A$M) Controlling the Controllables 50.0 • Normalised EBIT improvement of 2.9% on prior half. 45.0 5.1 • Volume: Group up 4.9% with increases across Australia, New Zealand and
Slide 11: Strong cash flow from operations
Financial Business Summary & Overview New Products Strategy update results performance FY26 Outlook Cash flow from Operations A$M H1 FY26 H1 FY25 Strong cash flow from operations EBITDA 47.5 46.3 Net movement in Working Capital (5.4) 6.1 Other 1.5 1.3 • Delivered 92% cash conversion, temporarily imp
Slide 12: Sustained dividend delivery despite market conditions
Financial Business Summary & Overview New Products Strategy update results performance FY26 Outlook Sustained dividend delivery despite market conditions Dividends – cents/share Fully franked 8.0c interim dividend supported by solid cash generation 11 Confidential
Slide 13: Ongoing strong financial position
Financial Business Summary & Overview New Products Strategy update results performance FY26 Outlook Metrics1 30 June 30 June 30 June 2022 2023 2024 30 June 2025 31 Dec 2025 Ongoing strong financial position Net Debt (A$M) 138.2 117.0 97.0 85.1 96.4 • Credit metrics at the lower end of target range L
Slide 14: 3. Business Performance
3. Business Performance Confidential
Slide 15: Revenue up across all markets
Financial Business Summary & Overview New Products Strategy update results performance FY26 Outlook Revenue up across all markets H1 FY26 Revenue Revenue commentary FY26 H1 v FY25 H1 $ Revenue & % of Group AUD H1 FY25 H1 FY26 Australia AUD $m $m • Disciplined execution of locally focused initiatives
Slide 16: Revenue by State (AU)
Financial Business Summary & Overview New Products Strategy update results performance FY26 Outlook Revenue by State (AU) Strong performance in 3 States, with broad growth across segments led by WTP and R&R A$m Revenue H1 FY26 H1 FY25 ∆ LY % Change NSW NSW 60.3 57.5 2.8 4.8% o Returned to growth wit
Slide 17: Revenue by Merchant (AU)
Financial Business Summary & Overview New Products Strategy update results performance FY26 Outlook Revenue by Merchant (AU) Customer A vs PcP Customer B vs PcP Momentum Building across Merchant & Plumber Channels Q1FY26 Q2FY26 H1FY26 Q1FY26 Q2FY26 H1FY26 o Merchant channel growth led by 2 of our to
Slide 18: 4. New Products
4. New Products Confidential
Slide 19: Evolving Growth opportunities in Residential and Care markets
Financial Business Summary & Overview New products Strategy update results performance FY26 Outlook Evolving Growth opportunities in Residential and Care markets • Methven Maku II range of tapware and shower launch • Liano II range expansion into showers and accessories • Entry level range extension
Slide 20: New business pilot – AI enabled Leak Protection Solution
Financial Business Summary & Overview New products Strategy update results performance FY26 Outlook New business pilot – AI enabled Leak Protection Solution The Problem Our Solution • Water leaks are an increasing cost • Expanding on proven ‘Caroma burden on households Smart Command’ capability • 1.
Slide 21: 5. Strategy Update
5. Strategy Update Confidential
Slide 22: Strategy driving Pull and Partnership
Financial Business Summary & Strategy driving Pull and Partnership Overview results performance New products Strategy update FY26 Outlook Push Pull • Merchants remain essential partners, Merchants providing reach and fulfillment. • Strategy builds pull by direct engaging with plumbers, commercial bu
Slide 23: Good Progress on Strategy
Financial Business Summary & Overview New products Strategy update results performance FY26 Outlook Good Progress on Strategy Strategic Initiatives Progress1 Win the Plumber o AU Plumber Bundle and Spares parts sales growth +6% on PcP Win the Plumber o Prioritised investments in Spares Category, mai
Slide 24: 6. Summary & FY26 Outlook
6. Summary & FY26 Outlook Confidential
Slide 25: Continued volume growth in FY26 H1
Financial Business Summary & Overview New Products Strategy update results performance FY26 Outlook Continued volume growth in FY26 H1 • FY26 H1 – solid results in demanding market conditions o Volume, sales and EBIT improvement driven by growth in Australia, New Zealand and the UK Summary o Control
Slide 26: Group Outlook FY26
Financial Business Summary & Overview New Products Strategy update results performance FY26 Outlook Group Outlook FY26 Region Commentary % of Group Sales • Market segments expected to be mixed through FY26 H2. Ongoing Australia emphasis on key strategic priorities 83% • Mixed outlook - residential a
Slide 27: Australia FY26 Outlook
Financial Business Summary & Overview New Products Strategy update results performance FY26 Outlook Australia FY26 Outlook Market segment GWA Focus Link to Strategy Commercial, stable with increases in Care • Health and Aged care projects Education and Aged care sectors offset by Commercial • Increa
Slide 28: oat ee METHVEL
oat ee METHVEL Group Limited Made For Life S
Slide 29: Disclaimer
Disclaimer o This Presentation contains projections and other prospective statements that represent GWA's assumptions and views, including expectations and projections about GWA's business, the industry in which it operates and management’s own beliefs and assumptions. Such matters require subjectiv
Slide 30: 8. Appendix
8. Appendix Confidential
Slide 31: FY26 Key Assumptions
FY26 Key Assumptions 1 Area Assumption Australian market backdrop BIS total building activity data2 is indicating modest growth in FY26 at +1% (June 25 update was –2%) Price increase ~4% in UK & 3.5% New Zealand from 1 April 2026 and 1 March 2026 respectively D&A (depreciation and amortisation) ~$3.
Slide 32: Caroma remains our leading brand
Caroma remains our leading brand Segment Category Project Basins, Sinks, 26% Sub-Segment1 Tubs & Baths Resi 17% 14% Taps & Valves & Multi-Res Showers Other 5% 40% 1% Merchant Commercial Builder R&R 60% 21% 60% Sanitaryware 14% 42% Geography Brand New Zealand Clark Stylus Deva 8% 6% 5% 8% Methven 10%
Slide 33: Australian Market Context
Australian Market Context Residential and Multi-Residential completions recovery from Late FY26 Residential¹ Multi - Residential² Residential Multi-Residential 140,000 120000 Quantity Completed Annually Quantity Completed Annually 120,000 100000 100,000 80000 80,000 60000 60,000 40000 40,000 20,000
Slide 34: Australian Market Context
Australian Market Context Commercial work done expected to flat with R&R impacted by recent interest rate rise Commercial¹ Repair and Renovation² Commercial Repairs & Renovations 70,000 16,000 60,000 14,000 Value of Work Approved $M Value of work done $M 50,000 12,000 10,000 40,000 8,000 30,000 6,00
Slide 35: Thank you
Thank you GWA Results Presentation Half Year ended 31 December 2025 16th February 2026 Confidential