Coventry Group Limited · ASX:CYG
Coventry — FY2026 Earnings Presentation
31 slides from Coventry's earnings presentation, Aug 31, 2026
Slide 1: Full Year Results 2026
C O V E N TR Y G R O U P L I M I TE D · AS X : C Y G Full Year Results 2026
Slide 2: Contents
Contents 01 Business Overview & Results Summary 02 Turnaround progress 03 Financial performance 04 Outlook 05 Appendices A question-and-answer session will follow the presentation. FY26 Full Year Results · ASX:CYG 02 / 31
Slide 3: Business Overview & Results Summary
SECTION 01 Business Overview & Results Summary Who Coventry Group is, the footprint we operate, and the FY26 results in summary.
Slide 4: Business overview
Business overview An Australasian distributor of industrial fasteners, consumables and hydraulic fluid systems with market leading brands across both segments. Trade Distribution 59% OF REVENUE Fluid Systems 41%OF REVENUE $375.3m Konnect Australia 25% of revenue Konnect New Zealand 12% of revenue Nu
Slide 5: Branch network
Branch network TO TAL BRAN CH ES 94 TR AD E DI STRI BUTI O N 80 FLUID SYSTEMS 14 Coventry Group serves the market through 94 branches in Australia and New Zealand, across Trade Distribution (Konnect, Nubco, Steelmasters) and Fluid Systems. Yellow markers show branch locations; "City x N" indicates m
Slide 6: FY26 results summary
FY26 results summary Significant turnaround and second-half earnings recovery, cost-out target met, and a materially improved exit run rate. REVENUE3 - Constant Currency E B I T D A 1,3 EBIT2 $375.3m $9.4m $3.8m +94% 2H vs 1H +$2.9m 2H vs 1H +2.8% vs FY25 NET DEBT NNEETT AS ASSSEETTSS AV A I L A B L
Slide 7: Turnaround progress
SECTION 02 Turnaround progress Strategy, the delivery scorecard against half-year commitments, and momentum building through the second half.
Slide 8: Performance Trajectory
Performance Trajectory 2H FY26 EBITDA of $6.2m, up $3.0m on 1H FY26, with momentum building through Q4. QUARTERLY EBITDA¹ · $M · FY26 QUARTERLY OPERATING CASH FLOW · $M · FY26 5.0 7.0 5.9 4.1 4.0 5.0 2.9 3.0 3.0 1.0 2.1 2.0 -1.0 -1.1 -3.0 1.0 0.3 -3.7 -5.0 0.0 -7.0 -6.9 -1.0 -9.0 Q1 FY26 Q2 FY26 Q3
Slide 9: Progress against commitments
Progress against commitments 1H FY26 COMMITMENT FY26 OUTCOME 01 Reach target $10m of annualised cost-out savings by FY26 year-end. $10m cost out target achieved. EXCEEDED 02 Steady upward earnings improvement through FY26. 2H EBITDA $6.2m vs 1H $3.2m - Q4 run rate EXCEEDED $4.1m. 03 Tighter working
Slide 10: Branch Optimisation program
Branch Optimisation program A full review of branch profitability was conducted in 2H FY26. Branches were assessed on three years of trading, contribution margin, market structure, and positioning. This resulted in the closing of three branches and the identification of several underperforming branc
Slide 11: Strategic priorities
Strategic priorities FY26 was focussed on stabilising the business. With that work substantially complete, our focus now shifts to disciplined, profitable growth and ongoing cash generation. F Y 2 6 · L AR G E L Y C O M P L E T E FY26–27 · In Progress FY27 onward Stabilise Optimise Grow profitably •
Slide 12: Financial performance
SECTION 03 Financial performance Group profit and loss, significant items, segment results, cash flow and balance sheet for the year ended 30 June 2026.
Slide 13: Group financial summary
Group financial summary Revenue up 2.8% to $375.3m. Adjusted EBITDA of $9.4m reflects a weak first half, with 2H earnings almost double the first half. $M F Y2 6 F Y2 5 C H AN GE 1 H F Y2 6 2 H F Y2 6 Second half almost double the first. Revenue 375.3 365.2 +2.8% 188.5 186.8 • 2H FY26 adjusted EBITD
Slide 14: Segment P&L - Trade Distribution
Segment P&L - Trade Distribution Revenue of $223.2m, up 2.4%, with adjusted EBITDA of $11.7m. Second-half earnings improved to $6.3m from $5.4m in the first half. $M F Y2 6 F Y2 5 C H AN GE 1 H F Y2 6 2 H F Y2 6 CO M M ENTARY • Revenue growth of 2.4% was supported by improving conditions in mainland
Slide 15: Segment P&L - Fluid Systems
Segment P&L - Fluid Systems Revenue of $152.1m, up 3.2%, with adjusted EBITDA of $13.2m at an 8.7% margin - the group's most profitable segment. $M F Y2 6 F Y2 5 C H AN GE 1 H F Y2 6 2 H F Y2 6 CO M M ENTARY • Mining and industrial demand remained supportive through the year, with Revenue 152.1 147.
Slide 16: Balance sheet
Balance sheet Net assets of $104.1m. Inventory reduced $10.6m following the inventory review and tighter working capital control. $M 30 JUN 26 30 JUN 25 C H AN GE KEY MOVEMENTS Cash and cash equivalents 3.8 3.3 +0.5 • Inventory down $10.6m to $78.4m, reflecting ERP-enabled procurement discipline and
Slide 17: Working capital management
Working capital management Net working capital reduced $5.0m to $74.7m, with a $10.6m inventory reduction the key highlight. $M 30 JUN 26 30 JUN 25 YOY Commentary • Inventory discipline - ERP-enabled procurement controls, range rationalisation and a Inventories 78.4 89.0 −10.6 full physical stocktak
Slide 18: Cash flow
Cash flow S T AT U T O R Y E B I T D A T O F R E E C AS H F L O W · F Y 2 6 · $ M 24.0 +5.0 −5.0 +5.4 18.6 17.2 −5.4 16.0 +1.4 13.2 8.0 0.0 −22.1 -8.0 −5.4 −8.9 -16.0 STATUTORY WORKING INTEREST PAID INTEREST EXPENSE TAX & STATUTORY ADD BACK OPERATING LEASE NET FREE CASH EBITDA CAPITAL – BANK – LEASE
Slide 19: Liquidity and funding
Liquidity and funding NET DEBT D R AW N F AC I L I T I E S C AS H O N H AN D T O T AL L I Q U I D I T Y $55.2m $59.0m $3.8m $14.8m VS J UN 25 −$1.1m NON-CURRENT $54.0m VS J UN 25 +$0.5m AT 30 JUN 26 cash + undrawn FUNDI NG AND CO VENAN TS GROSS LEVERAGE RATIO · FY26 Gross leverage ratio • Facilities
Slide 20: Significant items detail
Significant items detail $15.7m of significant items in FY26, of which $12.3m was non-cash. $M AM OU N T C AS H N ON -C AS H NO N- CASH CASH Change in Accounting Estimates 7.73 - 7.73 $12.3m $3.4m Stocktake adjustments 3.06 - 3.06 78% of total 22% of total JMS write-off 1.12 - 1.12 CO M M ENTARY Bra
Slide 21: Outlook
SECTION 04 Outlook Market drivers, FY27 priorities, capital allocation and the catalysts we expect to report against at each trading update.
Slide 22: Market drivers
Market drivers A modest economic backdrop with clear pockets of strength across core markets R E N E W AB L E E N E R G Y & S T R U C T U RAL F AB R I C AT I O N B U I L D I N G , C O N S T RU CT I O N & I N F R AS T R U C T U R E M I N I N G & R E S O U RC E S Strong Momentum Resilient Standout gro
Slide 23: FY27 strategic priorities
FY27 strategic priorities 01 Revenue and market share growth - supported by strong active markets using existing business resources & branch network infrastructure 02 Profit margin improvement – with an aligned supply chain and structured, tiered & controlled market prices 03 Simplified and Integrat
Slide 24: Strategic review
Strategic review 01 Strategic review announced in January 2026 remains ongoing. EXCEEDED 02 The group has received non-binding indicative offers for individual divisions. Some of these offers exceed the group's current E X C E E D E D market capitalisation. All offers received were subject to condit
Slide 25: Capital allocation
Capital allocation FY27 capital allocation is directed at the balance sheet - split broadly evenly between working capital investment and debt reduction - with capital expenditure held below $3m. AL L O C AT I O N O F F Y 2 7 C AS H F L O W FRAM EWO RK PRI NCI PLES Balance sheet ~100% of free cash f
Slide 26: Medium-term objective
Medium-term objective EBITD A MARG IN CASH CO NVERSI O N G RO SS LEVER AG E 10%+ 80%+ <2.0x From 2.5% in FY26 toward the exit run- Of EBITDA converting to free cash flow Sustained comfortably inside covenant rate level and beyond with headroom to absorb cyclical nature of some parts of the business
Slide 27: FY27 July trading update
FY27 July trading update Positive start to FY27 with on target sales revenue and EBITDA in July and building momentum in August REVENUE ² - Constant Currency E B I T D A¹ $34.4m $2.1m +79.3% on July 25 +1.3% vs July 25 ¹ Unaudited EBITDA before significant items, excluding AASB 16 — non-IFRS measure
Slide 28: Appendices
SECTION 05 Appendices Definitions of the non-IFRS measures used in this presentation.
Slide 29: Adjusted EBITDA to statutory results
Adjusted EBITDA to statutory results Reconciliation of the adjusted EBITDA measure used by management to reported statutory EBITDA and statutory net profit/(loss) after tax, under Australian Accounting Standards. AD J U S T E D E B I T D A T O S T AT U T O R Y E B I T D A $M F Y2 6 Adjusted EBITDA (
Slide 30: Non-IFRS measures and definitions
Non-IFRS measures and definitions EBITDA (before significant Earnings before interest, tax, depreciation and amortisation, excluding significant items and the impact of AASB 16 — Leases. Used by management to assess items) underlying trading performance. Restates the Group’s New Zealand results at t
Slide 31: Disclaimer
Disclaimer Reliance on third-party information Non-IFRS financial information The information and views expressed in this presentation were prepared by Coventry Group Ltd (the Company) and may contain Coventry uses certain measures to manage and report on its business that are not recognised under A