Slide 1: Half Year Results Presentation and Earnings Guidance
Half Year Results Presentation and Earnings Guidance 21 August 2025 Capral Limited (ASX:CAA) 15 Huntingwood Drive, Huntingwood NSW 2148 Approved and authorised by Capral’s Board of Directors
Slide 2: Agenda
Agenda 1 Business Overview 2 1H25 Highlights 3 1H25 Financials 4 Strategy 5 Outlook & Guidance 2
Slide 3: Our business at a glance
Our business at a glance Australia’s leading supplier of aluminium extrusion and rolled products. Manufacturer and Distributor of #1 Aluminium Extrusion Distributor of #1 Aluminium Sheet and Plate Supplier of #1 Aluminium Value Add Services 3
Slide 4: Our business at a glance
Our business at a glance 6 Plants Key Markets 8 Extrusion Presses • Residential and Commercial 65,000t Annual extrusion capacity Building • Industrial (Transport, Marine, Infrastructure, Solar, Metal Fabrication) 8 Distribution Centres ~27% 14 Trade Centres Market Share ~$460 million 1000+ ~$665 mil
Slide 5: Half Year Highlights
Half Year Highlights “Earnings in line with expectation: • Lower volume, however higher metal (LME) price lifted sales revenue above prior period • Industrial demand has softened • Residential demand soft but steady, expected recovery in second half • Margins holding up well due to effective cost ma
Slide 6: 1H25 Performance Highlights
1H25 Performance Highlights Half year results in line with expectation Volume Revenue Underlying Underlying EBITDA1 EBITDA1,2 EBIT2 31,100 tonne $327m $27.7m $16.1m $26.8m 33,500 tonne 1H24 $313m 1H24 $28.7m 1H24 $16.9m 1H24 $29.2m 1H24 7% 4% 3% 5% 8% NPAT³ EPS³ Net Cash Capital Safety $15.3m $0.89
Slide 7: Sales Volume, Channels and Mix
Sales Volume, Channels and Mix Industry diversification supports volume during cyclical downturns Volume 7% down on 1H24, ahead of expected housing recovery starting H2 2025 Sales seasonality - stronger second half anticipated in 2025 • Residential remains soft but approvals and commencements are li
Slide 8: Residential sector remains soft but improving
Residential sector remains soft but improving Expecting recovery in second half 2025 2025 Annual Dwelling Commencements¹ (000’s) Latest forecast¹ 181,000 starts Detached Housing Multi-Res Low Rise Multi-Res High Rise 250 • Total forecast commencements up 8% on 2024 • Residential starts impacted by:
Slide 9: Recent Capral Projects: Residential
Recent Capral Projects Residential Howley Street, NSW Cooranbong, NSW Avalon House, NSW Fabricator: Master Windows Fabricator: Fin Windows + Doors Fabricator: PCW Commercial Windows Builder: Miso Building Builder: Candor Homes Builder: Laxale Products Used: Capral AGS Products Used: Capral Urban Fra
Slide 10: Recent Capral Projects: Commercial
Recent Capral Projects Commercial ARUP Brisbane, QLD Bunbury Hands Oval, WA Nippon Express - The Yards, NSW Fabricator: MHC Carpentry Fabricator: LGA (WA) Glazing Tiling Fabricator: ADS Glass and Products Used: Capral AGS Aluminium Products Used: Capral AGS Framing System Framing System Products Use
Slide 11: Industrial sector has softened
Industrial sector has softened Transport, infrastructure, manufacturing slowing - marine and cladding remain solid Transport Marine Solar Industrial Construction Manufacturing and Resellers • Sector has softened • Commercial ferry builds, • Imports impacting • Infrastructure investment General Fabri
Slide 12: Recent Capral Projects: Industrial
Recent Capral Projects Industrial Western Sydney Westlab Volgren International Laboratory and Industrial Bus Builder Ceiling battens and structural Workspace solutions Dandenong South, VIC spine for new International Airport Mitchell Park, VIC Terminal Badgerys Creek, NSW 12
Slide 13: Bottom of cycle earnings performance remains solid
“Bottom of cycle earnings performance remains solid despite 7% lower volume and inflationary pressures.” TERTIUS CAMPBELL CFO 13
Slide 14: Metal cost has been volatile in 2025
Metal cost has been volatile in 2025 Aluminium Price $A 1. Regional premiums lifted in 1H25, but (LME & Premiums) have fallen in 3Q25 2. The international LME price is volatile and 5.00 impacted by global supply factors and geopolitical trade issues Average LME increased by 13% on FY24 4.00 to $A3,8
Slide 15: Earnings in line with expectation
Earnings in line with expectation Remaining solid during cyclical downturn 1. Volume 7% lower than 1H24 1H25 1H24 2. Sales Revenue 4% up on 1H24, reflecting higher metal cost and improved mix and selling prices Sales Volume (‘000 tonnes) 1 31.1 33.5 3. Underlying EBITDA 3% below 1H24, primarily due
Slide 16: Strong balance sheet
Strong balance sheet Underpinning capital management initiatives Jun 25 Dec 24 1. Inventory increased due to higher average metal prices (LME) Current Assets $m $m 2. Receivables metrics remain excellent with DSO at 44 days Inventory 1 159.4 155.4 (Dec24: 44 days) Trade Receivables 2 101.1 91.8 3. F
Slide 17: Cash used for increased distributions and working capital demands
Cash used for increased distributions and working capital demands Cash Flow 1H25 1H24 Continued strong focus on cash management. $m $m 1. Working capital increased due to metal cost EBITDA1 27.7 28.7 1 2. Capex in line with plan Working Capital (16.9) 5.9 Finance Cost (3.0) (2.6) 3. Distributions in
Slide 18: Disciplined capital management
Disciplined capital management Driving solid returns for shareholders 1. Distributions • Capral aims to distribute 40-80% of underlying earnings per share • Total distribution of 27 cps or 35.0% in 1H25 (1H24: 18 cps or 22.0%) through share buy-back Share Buyback H1¹ Share Buyback H2¹ Final Dividend
Slide 19: Strategy and Outlook
Strategy and Outlook “We continue to focus on increasing return on invested capital, improving our competitive position, and growing our presence in aluminium distribution.” TONY DRAGICEVICH CEO & MANAGING DIRECTOR 19
Slide 20: Clearly Defined Strategy
Clearly Defined Strategy Build, Optimise and Grow GROW for the future • Leverage our capabilities into new OPTIMISE what we do opportunities • Continually improve key customer • Develop new products and channels service metrics to market BUILD on our strengths • Drive lean manufacturing to deliver •
Slide 21: Improve productivity, grow in new markets and enhance our value to customers
Improve productivity, grow in new markets and enhance our value to customers Manufacturing Distribution Sales and Marketing • Continue process improvement • Capral’s new window and door range and • Ongoing technology investment including; programmes systems software released customer interfaces (EDI
Slide 22: Imports and anti-dumping
Imports and anti-dumping GLOBAL CONTEXT CHINA MALAYSIA OTHER • USA tariffs have no direct impact • Current measures expire October • Current measures expire June • Measures in place against 2025 2026 Vietnam until June 2027 • Resulting changes in trade flows are a real risk • Continuation applicatio
Slide 23: ESG Framework
ESG Framework On a path to a more sustainable future 2025 Highlights Three Pillars of Sustainability • Capral enhanced its IMS software to improve alignment with evolving sustainability reporting requirements Environment Social Governance • Learning opportunities have been expanded to create a learn
Slide 24: Outlook and Guidance
Outlook and Guidance • FY25 EBITDA3, based on a forecast improvement in market conditions and absent unforeseen events, is expected to be broadly in line with prior year • Industrial and Commercial markets have softened • Residential building commencements are forecast¹ to start recovering in second
Slide 25: Questions & Appendix
Questions & Appendix Thank you for your time
Slide 26: Strategic National Footprint
Strategic National Footprint Industry diversification supports volume during housing downturn Capral has a national footprint with a presence in every state 24 Darwin and Extrusion plants near five mainland capital cities Cairns 1 5. Bremer Park Manufacturing Plant • Capacity 23k tonnes Townsville 2