Big River Industries Ltd. · ASX:BRI
Big River Industries — H1 2026 Earnings Presentation
22 slides from Big River Industries's earnings presentation, Feb 25, 2026
Slide 1: 1HFY26 Results
1HFY26 Results 25 February 2026 BIG RIVER INDUSTRIES LTD (ASX:BRI)
Slide 2: Contents
02 Contents 03 Business Overview 04 Divisions John Lorente 05 Investment Highlights CEO & Managing Director 06 Performance Highlights 1HFY26 07 Investment – Build for the Future 08 Divisional Performance John O’Connor 09 Profit and Loss CFO 10 Profitability Waterfall 11 Balance Sheet 12 Cash Flow 13
Slide 3: Business Overview
03 Business Overview Diversified by geography, industry segment, construction type and Supply chain 21% of revenue customer diversity Manufactured by BRI 17% of revenue Direct Import by BRI 62% of revenue Sourced from local supply partners Big River manufacturing facilities Revenue by 37% Detached h
Slide 4: Divisions
04 Divisions Panels Construction Industry leaders in differentiated decorative and technical panel (Building Trades + Formwork & Commercial) systems to the trade, supporting architectural, fit-out and Leading diversified Formwork & Building products manufacturing & bespoke OEM applications. distribu
Slide 5: Investment Highlights
05 Investment Highlights Competitive advantages, operating leverage, tailwinds to drive shareholder value Sustained Competitive Advantage Robust Financial Profile Significant Operating Leverage Vertically integrated, with manufacturing and distribution 1HFY26 Revenue of $206.0m (-1.4% LFL1 vs pcp) a
Slide 6: Performance Highlights 1HFY26
06 Performance Highlights 1HFY26 Group 1HFY26 Revenue Gross Profit Margin Underlying EBITDA (Before significant items) $206.0m 26.6 % $14.5m Down 2.6% on 1HFY25 Up 20 bps on 1HFY25. Strong result in EBITDA down 2.0% on 1HFY25 (-1.4% LFL) on challenging market challenging market on solid pricing with
Slide 7: Investment – Build for the Future
07 Investment – Build for the Future Safety & People Growth Delivering Synergies Operational Efficiencies One Big River Disciplined investment in targeted growth initiatives: Grow Today – Build for the Future. Markets Operational Internal Customer-focused growth Team & supplier improvements System &
Slide 8: Divisional Performance
08 Divisional Performance Revenue EBITDA EBITDA Margin AUD in Millions 1HFY26 1HFY25 % Change 1HFY26 1HFY25 % Change 1HFY26 1HFY25 Construction 138.7 140.1 (1.1%) 12.4 10.3 20.4% 8.9% 7.4% Panels 67.3 71.4 (5.7%) 6.6 8.8 (25.0%) 9.8% 12.3% Corporate Costs - - - (4.5) (4.3) 4.7% - - Total 206.0 211.5
Slide 9: Profit and Loss
09 Profit and Loss AUD in millions 1HFY26 1HFY25 % Change Highlights Revenue 206.0 211.5 (2.6%) Group revenue was down 2.6% on the pcp (-1.4% Raw materials and consumables (151.2) (155.8) (3.0%) LFL), reflecting an easing in the rate of contraction and consistent with encouraging Gross profit 54.8 5
Slide 10: Profitability Waterfall
10 Profitability Waterfall Revenue EBITDA (AUD in millions) Like for like revenue decline, on soft market dynamics, remains largest contributor to EBITDA movement. 14.8 1.0 14.5 0.5 0.0 Gross Margin -1.7 Continued Gross Margin expansion of 20 bps on disciplined pricing, improved mix, and closer supp
Slide 11: Balance Sheet
11 Balance Sheet AUD in millions 31 Dec 2025 30 June 2025 Highlights Cash 21.7 22.8 Balance sheet remains strong, with Trade and other receivables 45.3 53.4 Gearing of 19.1% (June 2025: 20.1%), reflecting the cash consideration portion of Inventories 79.4 72.6 the JBS acquisition ($13.0m; pre- Fixed
Slide 12: Cash Flow
12 Cash Flow AUD in millions 1HFY26 1HFY25 Highlights Receipt from customers 234.9 244.1 Operating Cashflow of $13.2m equates to cash Payment to suppliers and employees (221.7) (232.5) conversion of 91.0%, up from 78.4% in the pcp, due to the quality of earnings and Operating cash flow before intere
Slide 13: Capital Management
13 Capital Management AUD in millions 31 Dec 2025 30 June 2025 Highlights Total borrowing facility¹ 80.9 80.9 Extension of existing banking facility negotiated Facility drawn 48.2 48.3 with NAB in August 2025. Utilisation ratio % 59.6% 59.7% The Group remains in a strong balance sheet position with
Slide 14: Macroeconomic Drivers
14 Macroeconomic Drivers Dwellings: Approved, Under Construction, and Completed Source: Latest ABS Data Actual housing completions have remained comparatively subdued, with persistent delays and bottlenecks seeing the number of dwellings under construction remain elevated for the past three years. T
Slide 15: Financial Ambition & Growth
15 Financial Ambition & Growth Long Term Financial Ambitions Capital Management Big River is tracking well against its long-term financial targets, despite revenue Big River's earnings quality and disciplined working capital management have contraction in soft residential market conditions with cont
Slide 16: Group Outlook
16 Group Outlook Market conditions remain variable entering 2HFY26, with residential housing expected to Victoria is expected to remain softer near term, however consolidation actions, remain uneven over the next 12 months and differing materially by geography and margin discipline and a more focuse
Slide 17: Appendices
/\ 17 Appendices BIG RWER
Slide 18: Appendix - Profitability
18 Appendix - Profitability AUD in millions 1HFY22 1HFY23 1HFY24 1HFY25 1HFY26 Revenue 193.8 232.4 218.8 211.5 206.0 EBITDA - Construction 13.1 20.7 14.6 10.3 12.4 - Panels 10.9 10.6 9.3 8.8 6.6 - Corporate costs (2.8) (3.4) (3.9) (4.3) (4.5) Total EBITDA 21.2 27.9 20.0 14.8 14.5 Depreciation (5.3)
Slide 19: Appendix - Cash Flow
19 Appendix – Cash Flow AUD in millions 1HFY22 1HFY23 1HFY24 1HFY25 1HFY26 EBITDA 21.2 27.9 20.0 14.8 14.5 Working capital changes & other items (6.4) (7.0) (0.4) (3.2) (1.3) Operating cash flow before interest and tax (OCFBIT) 14.8 20.9 19.6 11.6 13.2 Interest paid (net) (1.5) (1.4) (1.7) (1.7) (1.
Slide 20: Appendix - Capital Management
20 Appendix – Capital Management AUD in millions 31-Dec-21 31-Dec-22 31-Dec-23 31-Dec-24 31-Dec-25 Overdraft and trade finance 2.8 2.7 - - - Bank bills 36.0 41.0 41.0 46.0 46.0 Equipment finance liability 2.4 2.3 2.3 2.4 2.2 Less: Cash (6.5) (16.9) (24.3) (18.8) (21.7) Net debt 34.7 29.1 19.0 29.6 2
Slide 21: Appendix - Historical Performance
21 Appendix – Historical Performance Revenue ($m) EBITDA ($m) U-NPAT ($m)¹ NPATA ($m)2 240 30 14 16 12 14 230 25 10 12 220 20 8 10 210 15 8 6 200 10 4 6 190 5 2 4 180 0 0 2 Cash Conversion Gearing ROFE 120% 30% 30% 100% 25% 25% 80% 20% 20% 60% 15% 15% 40% 10% 10% 20% 5% 5% 0% 0% 0% 1. U-NPAT is NPAT
Slide 22: Important Notice and Disclaimer
22 Important Notice and Disclaimer This presentation is dated 25th February 2026. accuracy, reliability or completeness of the information, opinions or conclusions expressed in this presentation. There can be no assurance Big River Industries Limited (the "Company") advises that the information that