Wagners Holding Co. Ltd. · ASX:WGN
Wagners — H1 FY2025 Earnings Presentation
25 slides from Wagners's earnings presentation, Feb 25, 2025
Slide 1: Wagners H1 FY25 Results – Investor Presentation
CONSTRUCTION MATERIALS PROJECT SERVICES COMPOSITE FIBRE TECHNOLOGIES EARTH FRIENDLY CONCRETE WAGNERS HOLDING COMPANY LIMITED 25 February 2025 ASX Market Announcements ASX Limited 20 Bridge Street SYDNEY NSW 2000 Wagners H1 FY25 Results – Investor Presentation Please find attached the Investor Presen
Slide 2: Wagners H1 FY25 Results Presentation
WAGNERS H1 FY25 RESULTS PRESENTATION 25 FEBRUARY 2025
Slide 3: Contents
CONTENTS H1 FY25 RESULTS STRATEGY UPDATE SUMMARY & OUTLOOK APPENDIX
Slide 4: H1 FY25 Group Highlights
H1 FY25 GROUP highlights Group Revenue continued momentum in construction materials segment with $225.4 million improved margins -15% vs H1 FY24 • Revenue of $225.4 million, o Strong performance from core Construction Materials business with Gross Profit revenue +15% to $129.4 million (H1 FY24: $112
Slide 5: Highlights & Performance
H1 FY25 HIGHLIGHTS & PERFORMANCE
Slide 6: H1 FY25 Performance
H1 FY25 performance higher quality revenue mix driving earnings growth • Decline in revenue due to completion of large precast tunnel project in Q3 FY24 ($m) 1H FY25 1H FY24 Change • Improved market conditions together with operating Total Revenue 225.4 264.6 (39.2) efficiencies delivered Operating
Slide 7: Segment Results – CM & Project Services
H1 FY25 Segment results – cm & project services STRONG CONSTRUCTION MATERIALS SEGMENT PERFORMANCE Construction Materials (CM) Half-Yearly Performance (H1 FY23 - H1 FY25) Project Services (PS) Half-Yearly Performance ((H1 FY23 - H1 FY25)¹ 122.1 120.7 129.4 112.7 16.4% 105.5 102.9 103.2 85.4 85.5 15.0
Slide 8: Segment Results – CFT
H1 FY25 Segment results – CFT IMPROVING FINANCIAL performance ACROSS CFT EVIDENT AS MARGINS AND PROFITABILITY IMPROVE CFT Half-Yearly Performance (H1 FY23 & H1 FY25) 34.7 30.8 31.0 28.4 28.3 12.2% 4.2% 4.2 1.3 -0.4% -1.8 -0.1 -0.9 -3.2% -6.4% H1 FY23 H2 FY23 H1 FY24 H2 FY24 H1 FY25 CFT Revenue CFT E
Slide 9: Segment Highlights – Construction Materials
H1 FY25 SEGMENT HIGHLIGHTS CONSTRUCTION MATERIALS (CM) • Overall – continued improvement in demand for Construction Materials across South-East Queensland, driving higher margins • Cement – consistent volumes with increased contribution from Wagners' concrete plants o Revenue stable o Increase in EB
Slide 10: Segment Highlights – Project Services
H1 FY25 SEGMENT HIGHLIGHTS PROJECT SERVICES (PS) • Overall – Project Services revenue of $61 million in line with expectations, down 49% versus H1 FY24 • Bulk Haulage – revenue down 29%, reflecting completion of two projects in FY24 • Precast – only minor revenue given large precast tunnel project c
Slide 11: Segment Highlights – Composite Fibre Technologies
H1 FY25 SEGMENT HIGHLIGHTS composite fibre technologies (CFT) • CFT revenues +12% versus H1 FY24, driven by strong crossarm, power pole and custom-build demand in Australia & New Zealand (ANZ) • CFT ANZ – improved margins delivered across all product lines, resulting in a +31% increase in segment EB
Slide 12: Balance Sheet
H1 FY25 BALANCE SHEET IMPROVED OPERATING RESULTS DRIVES MEANINGFUL DEBT REDUCTION • Receivables reduced $17.6 million vs. Jun-24, due to: WORKING CAPITAL o Final claim for the large precast tunnel project (A$m) Dec-24 Jun-24 Change outstanding at Jun-24, received in Jul-24; o Lower volumes in cement
Slide 13: Cash Flow Statement
H1 FY25 Cash flow STATEMENT CASH CONVERSION FROM IMPROVED OPERATING RESULTS REDUCES DEBT (A$m) H1 FY25 H1 FY24 Change • Reduction in cash flow from operations due to prior period EBITDA 32.6 33.8 (1.3) movements in working capital Non-cash items (1.0) (0.4) (0.6) Changes in working capital 2.8 20.8
Slide 14: FY25 Outlook
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Slide 15: FY25 Segment Outlook
FY25 SEGMENT OUTLOOK segment-specific considerations for FY25 outlook: Construction Materials (CM) PROJECT services Composite Fibre Technologies (CFT) • Cement volumes expected to be softer • Company will continue to invest in bulk • Demand for composite products in FY25 in H2 vs H1, however cost sa
Slide 16: Medium-Term Outlook
MEDIUM-TERM OUTLOOK THE MEDIUM-TERM DEMAND ENVIRONMENT FOR WAGNERS PRODUCTS AND SERVICES REMAINS ENCOURAGING Favourable resources environment & robust civil Ongoing demand for infrastructure pipeline in innovative new products, South East Queensland¹ Strong forward order driven by effort to (populat
Slide 17: Summary
SUMMARY Business strategy leverages wagners quality assets, personnel and culture with strong alignment and integration Well-invested, VERTICAL Attractive Distribution high-quality asset base INTEGRATION end markets footprint significant capital invested enabling security of supply and consisting of
Slide 18: Appendix
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Slide 19: Segment Reporting
SEGMENT REPORTING REPORTED SEGMENT RESULTS Construction Materials (CM) Project Services (PS) Composite Fibre Tech (CFT) ($m) H1 FY25 H1 FY24 Change H1 FY25 H1 FY24 Change H1 FY25 H1 FY24 Change Revenue 129.4 112.7 16.7 61.3 120.7 (59.5) 34.7 31.0 3.7 EBIT 19.4 14.7 4.7 3.9 13.1 (9.3) 4.2 1.3 2.9 EBI
Slide 20: Who is Wagners?
WHO IS WAGNERS? Established in 1989 in Toowoomba (Queensland), Wagners is an ASX-listed diversified provider of construction materials, globally Innovative, vertically-integrated producer of new generation building materials, as well as a diverse range of project-specific products and services One o
Slide 21: Construction Materials
CONSTRUCTION MATERIALS WAGNErS Core business IS underpinned by well-invested network of high-quality assets & KEY PERSONNEL Construction Materials spans a variety of interrelated businesses covering residential, industrial, infrastructure, resources and renewables Construction Materials Wagners prov
Slide 22: Project Services
PROJECT SERVICES WAGNErS PROJECTS-RELATED BUSINESS FOCUSES ON PROVIDING CRITICAL PRODUCTS & SERVICES TO MAJOR PROJECTS, GLOBALLY This segment predominantly focusses on large infrastructure and resources projects PROJECT SERVICES Wagners also provides additional services and project-related solutions
Slide 23: Composite Fibre Technologies
COMPOSITE FIBRE TECHNOLOGIES Wagners inhouse design and manufacturing capability provides added Intellectual Property VIA ITS CFT BUSINESS Representing a significant opportunity, Wagners CFT business has dedicated sales and business development teams globally COMPOSITE FIBRE TECHNOLOGIES (CFT) • Lig
Slide 24: Disclaimer
disclaimer The material contained in this presentation is a summary of Wagners Holding completeness or adequacy of any statements or other information contained Company Limited’s (Wagners) activities and results, current at the date of in this presentation. To the maximum extent permitted by law, Wa
Slide 25: Thank you
Thank you Contact: Karen brown Company secretary +61 (0) 7 3621 1131 SAM WELLS (nwr communications) SAM@NWRCOMMUNICATIONS.COM.AU +61 (0) 427 630 152