Redox Limited · ASX:RDX
Redox — H1 2025 Earnings Presentation
23 slides from Redox's earnings presentation, Feb 20, 2025
Slide 1: 1H25 Results Presentation
For personal use only 1H25 RESULTS PRESENTATION 20 February 2025 REDOX LIMITED (RDX.ASX) 1
Slide 2: Agenda
Agenda For personal use only 1 1H25 Highlights 2 1H25 Financials 3 Strategy & Outlook 4 Q&A 5 Supplementary Information 2
Slide 3: 1H25 Highlights
For personal use only 1H25 Highlights Raimond Coneliano Chief Executive Officer & Managing Director 3
Slide 4: 1H25 Highlights
1H25 Highlights For personal use only $632m 21.6% $137m Sales Revenue Gross Profit Margin Gross Profit up 1.7% vs PCP +8.6% growth vs PCP (within historical range) New channel partner agreements 45.8% $138m 6 cps Conversion Margin Cash or Cash Equivalents Interim Dividend (Gross Profit to EBITDAFX)
Slide 5: Sales Revenue, Unit Prices & Gross Profit
Sales Revenue Unit Prices & Gross Profit 1H25 sales increased by 8.6% vs PCP driven by strong Unit Prices For personal use only volume growth in a subdued demand environment • Global commodity prices generally stabilised in 1H25, however Industry segment performance higher prices in Q1 FY24 were a h
Slide 6: Logistics & Sea Freight; M&A
Logistics & Sea Freight M&A Logistics Redox completed 2 acquisitions * in 1H25 – For personal use only • 1H25 total storage and logistics costs increased with higher sales volume Sea Freight Oleum (completed July 2024) an Australian distributor of surfactants and specialty chemicals to a variety of
Slide 7: 1H25 Financials
For personal use only 1H25 Financials Kim Yap Chief Financial Officer 7
Slide 8: Profit & Loss overview
Profit & Loss overview 1H25 1H24 Change $m $m % Revenue 632 582 8.6% $632m Gross profit 137 134 1.7% For personal use only Gross margin 21.6% 23.1% -1.5ppts Underlying EBITDAFX 1 63 71 -12.9% Top line revenue grew 8.6% in spite of price headwinds in Q1 FY25 Underlying EBITDAFX 1 9.9% 12.3% -2.4ppts
Slide 9: Revenue and Gross Profit
Revenue and Gross Profit 1H25 1H24 Change 10% For personal use only $m $m % ANZ Revenue growth achieved driven by acquired Revenue – Australia 537 493 8.9% businesses and turnaround in Crop Production Revenue – New Zealand 55 45 22.2% Revenue – USA 36 39 -7.7% 21.6% Revenue – Other 4 5 -20.0% Total
Slide 10: Operating costs
Operating costs $6m For personal use only 1H25 1H24 Change Increase in administration cost equally spread between $m $m $m salary inflation, increase in headcount and higher Administration expenses 38 32 -6 incentive payments Distribution and storage 30 25 -5 expenses $5m Other expenses Total underl
Slide 11: Cash flow
Cash flow 1H25 1H24 Change $m $m $m $12m For personal use only Cash from 12 80 -68 operations Cash flows from Cash from operations lower driven by higher inventory investing 1 22 -84 106 and timing of lunar New Year shipments Cash before 34 -4 38 financing Free cash flow 19.7% 125.9% conversion 2 30
Slide 12: Dividend & Dividend Policy
Dividend & Dividend Policy Interim Dividend Dividend Policy For personal use only Interim Dividend for FY25 of 6 cents Long term Dividend payout ratio will per share, representing a pay out of be 60%-80% of profits 78% of profits Dividend to be paid on the 25th March 2025 Record date 4th March 2025.
Slide 13: Strategy & Outlook
For personal use only Strategy & Outlook Raimond Coneliano CEO and Managing Director 13
Slide 14: Strategy and Outlook
Strategy Outlook For personal use only • Expand product portfolio • Macroeconomic and geopolitical headwinds • Develop technical expertise to provide customers expected to continue into 2H25 with added value • The company is strongly positioned for recovery • Refine Redebiz CRM/ERP to ensure it rema
Slide 15: Summary
For personal use only Summary • Large and attractive sector with numerous avenues to grow across various industries, geographies and products • Fragmentation of the industry provides ample opportunity to acquire strategically • Strong volume growth achieved in 1H25 to continue for the remainder of t
Slide 16: Q&A
For personal use only Q&A Raimond Coneliano CEO and Managing Director Kim Yap Chief Financial Officer 16
Slide 17: Supplementary information
For personal use only Supplementary information 17
Slide 18: Customer Concentration 1H25
Customer Concentration 1H25 For personal use only Sales by Industry Segment 1H25 Diverse client, industry, product and supplier base 18
Slide 19: Chemical Distribution is highly attractive
Chemical Distribution is highly attractive For personal use only Thousands of specialty Tens of thousands of Hundreds of thousands & commodity chemical potential of potential customers manufacturers SKU’s/products globally Distributors Large market Fragmented sector that deliver valuable Increasing
Slide 20: Leading distributor of chemicals, ingredients and raw materials
Leading distributor of chemicals, ingredients and raw materials Primary focus organic Extensive and growing growth complimented customer, supplier by acquisitions & and product base 8,000+ 5,000+ geographic expansion For personal use only ACTIVE CUSTOMERS SKU’S 100+ 1,000+ STOCK LOCATIONS ACTIVE SUP
Slide 21: Profit & Loss 1H25
Profit & Loss 1H25 1H25 1H24 Change $m $m $m Revenue 632 582 50 COGS -495 -448 -47 Gross profit 137 134 3 For personal use only Operating expenses -74 -63 -11 excluding depreciation Underlying EBITDAFX 63 71 -8 Depreciation and -5 -4 -1 amortisation Underlying EBITFX 58 67 -9 Net finance costs 2 2 0
Slide 22: Disclaimer
Disclaimer Important notices This Presentation has been prepared by Redox Limited (ABN 92 000 762 345) (“RDX” or “Company”). Summary information This Presentation contains summary information about RDX and its activities current as at 31 December 2024. The information in the Presentation is of a gen
Slide 23: Redox
For personal use only REDOX ee fin @redoxglobal. RedoxGlobal Redox Redox_global bsky.social Limited