James Hardie Industries Plc. · NYSE:JHX
James Hardie Industries — Q4 2025 Earnings Presentation
24 slides from James Hardie Industries's earnings presentation, May 20, 2025
Slide 1: Fourth Quarter FY25 Earnings Presentation
Fourth Quarter FY25 Earnings Presentation CHICAGO | DUBLIN SYDNEY T U E S D AY, M AY 2 0 TH W E D N E S D AY, M AY 2 1 S T Q 4 F Y2 5 E A RNI NG S P RE S E NTAT IO N 1
Slide 2: Cautionary Disclosure Regarding Forward-Looking Statements
Cautionary Disclosure Regarding Forward-Looking Statements Important Information and Where to Find It Statements in this communication, including statements regarding the proposed acquisition of The AZEK Company Inc. (“AZEK”) by James Hardie Industries plc (“JHX”), that are not historical facts are
Slide 3: Agenda
Agenda 1 FY25 Review and FY26 Outlook 2 Progress Against Key North America Strategies 3 Core Business Overview and Long-Term Outlook 4 Creating A Leading Building Products Growth Platform Aaron Erter Rachel Wilson CHIEF EXECUTIVE CHIEF FINANCIAL 5 Q4 FY25 Financial Results & FY26 Guidance OFFICER OF
Slide 4: Strong 2025 Lays Groundwork for Profitable Growth in 2026
Strong 2025 Lays Groundwork for Profitable Growth in 2026 FY25 Accomplishments FY26 Focus and Outlook Winning Capturing Investing Driving Accelerating Reaffirming by Partnering Material Conversion in Growth & Scale Growth Alongside Material Conversion Commitment to Across the Customer With Our Super
Slide 5: Strategies Drive FY25 Single-Family Exteriors Growth
Strategies Drive FY25 Single-Family Exteriors Growth + L S D % G R O W T H I N N O R T H A M E R I C A S I N G L E - F A M I LY E X T E R I O R S U N D E R P I N S M O M E N T U M O F C O R E S T R AT E G I E S Repair & Remodel New Construction ColorPlus® Driving Growth Revitalized ALLIANCE Growing
Slide 6: Growth in North America Fiber Cement
Growth in North America Fiber Cement Compelling Value Proposition Substantial Material Conversion Runway Long Term Profitable Growth ~35M Demand Creation HOMES AGED 20 TO 40 YEARS OLD Innovative Solutions ~22% OF NEW CONSTRUCTION HOMES BUILT WITH FIBER CEMENT SIDING Unrivaled Business Support Double
Slide 7: Creating a Leading Building Products Growth Platform
Creating a Leading Building Products Growth Platform A LEADING SIDING BRAND IN NORTH AMERICA & A LEADING PRO DECKING BRAND AND A GLOBALLY LEADER IN RAILING AND PVC TRIM Creates Accelerates Provides Delivers Unlocks a leading exterior and material conversion- customers a best-in-class significant val
Slide 8: High Conviction in Commercial Synergy Realization
High Conviction in Commercial Synergy Realization E N T H U S I A S M A C R O S S VA L U E C H A I N R E I N F O R C E S O U R C O N F I D E N C E I N S Y N E R G Y TA R G E T S ESTIMATED SYNERGY SIZE $500mm+ Converting Contractors Accelerate Material Conversion With Our Respective Contractors I
Slide 9: Focused on Delivering Quick Cost Synergy Wins
Focused on Delivering Quick Cost Synergy Wins A SOLID BASELINE OF IDENTIFIED COST SYNERGIES Breakdown of Cost Synergies By Area Time to Achieve Cost Synergies Manufacturing and Administrative Procurement Full Run-Rate • Duplicative Back-Office • Indirect Manufacturing & ~2/3 Functions Packaging Cost
Slide 10: Compelling Financial Profile Driving Value Creation
Compelling Financial Profile Driving Value Creation Accelerated Top Line Growth & Accelerated EBITDA Growth & Tangible Commercial Synergies Credible Commercial Synergies Strong Free Cash Flow & Clear Path to Deleverage Post-Close +250bps +300bps $1bn+ Top-Line Growth EBITDA Growth Annual Free Cash F
Slide 11: Financial Key Messages
Financial Key Messages Delivered on Our FY25 Guidance Positioned to Outperform the Market in FY26 and Beyond Planning for Profitable Growth in FY26 Poised to Generate Robust Growth in Free Cash Flow Focused on Successful Integration Planning and Synergy Capture to Deliver Value to All Shareholders Q
Slide 12: Fourth Quarter FY25 Financial Highlights
Fourth Quarter FY25 Financial Highlights $972mm $269mm 27.6% $156mm Net Sales Adjusted EBITDA Adjusted EBITDA Margin Adjusted Net Income (3%) (4%) (30bps) (10%) Comparing vs. Comparing vs. Comparing vs. Comparing vs. All-Time Quarterly Record Record Q4 Results Record Q4 Results Strong Q4 Results Sol
Slide 13: Fourth Quarter FY25 Adjusted EBITDA
Fourth Quarter FY25 Adjusted EBITDA $281mm $269mm (LSD%) Volumes Partially Offset By Favorable ASP Unfavorable Fixed ($2mm) $1mm Cost Absorption & ANZ EU EBITDA Adjusted General Corporate $234mm Raw Material EBITDA Growth Growth and Unallocated R&D Costs Headwinds More than Offset +9mm By Philippine
Slide 14: North America Fiber Cement Results
North America Fiber Cement Results Q4 FY25 Q4 FY24 vs. PY Key Drivers Net Sales ($mm) $718.9 $735.2 (2%) Net Sales and volumes down modestly vs. prior year, as expected Sales Volume 741.2 mmsf 766.3 mmsf (3%) Exteriors declined (LSD%) Single-Family ColorPlus +DD% Multi-Family down (22%) Inte
Slide 15: Asia Pacific Fiber Cement Results
Asia Pacific Fiber Cement Results Q4 FY25 Q4 FY24 vs. PY1 Key Drivers Net Sales ($mm) $118.1 $141.5 (17%) Australia & New Zealand net sales up slightly in local currency Net Sales (A$) (13%) Net Sales (A$) – ANZ +LSD (LSD%) volume decline due to continued market softness, continued Sales Volume (3
Slide 16: Europe Building Products Results
Europe Building Products Results Q4 FY25 Q4 FY24 vs. PY Key Drivers Net Sales ($mm) $134.5 $128.2 +5% Delivered record sales in 4Q Fiber Gypsum Up +7% in local currency Net Sales (€) +8% Fiber Cement Up +14% in local currency Sales Volume 207.1 mmsf 192.7 mmsf +7% High-Value Products (HVP) volum
Slide 17: FY26 Guidance Consistent With Planning Assumptions
FY26 Guidance Consistent With Planning Assumptions FY26 FY26 Planning Assumptions Guidance Provided February 2025 North America Growth Net Sales vs. FY25 Up Low Single Digits % North America Expansion EBITDA Margin % vs. FY25 ~35.0% Total Growth Adjusted EBITDA vs. FY25 Up Low Single Digits % Free C
Slide 18: Capital Expenditures & Free Cash Flow
Capital Expenditures & Free Cash Flow + 3 0 % F R E E C A S H F L O W G R O W T H I N F Y 2 6 F R O M P R O F I TA B L E G R O W T H & C A P E X R E D U C T I O N S Solid Business Performance Well-Invested in Capacity Strong Free Cash Flow Growth Driving Cash Generation to Service Organic Growth to
Slide 19: Creating a Leading Building Products Growth Platform
Creating a Leading Building Products Growth Platform Tremendous Organic Growth in North America Fiber Cement Accelerated Growth & Cash Generation with the AZEK Combination Long-Term Shareholder Value Creation Q 4 F Y2 5 E A RNI NG S P RE S E NTAT IO N 19
Slide 20: Q&A
Q&A Aaron Erter Rachel Wilson CHIEF EXECUTIVE CHIEF FINANCIAL OFFICER OFFICER Q 4 F Y2 5 E A RNI NG S P RE S E NTAT IO N 20
Slide 21: Non-GAAP Financial Measures
Non-GAAP Financial Measures This Earnings Presentation forms part of a package of information about the company’s results. It should be read in conjunction with the other parts of this package, including the 20-F and Earnings Release Financial Measures – GAAP Equivalents This document contains the f
Slide 22: Non-GAAP Financial Measures
Non-GAAP Financial Measures Adjusted EBIT and Adjusted EBITDA North America Fiber Cement Segment EBIT and EBITDA US$ Millions Quarter and Full Year Ended 31 March US$ Millions Quarter and Full Year Ended 31 March Q4 FY25 Q4 FY24 FY25 FY24 Q4 FY25 Q4 FY24 FY25 FY24 EBIT $ 62.1 $ 84.0 $ 655.9 $ 767.4
Slide 23: Non-GAAP Financial Measures
Non-GAAP Financial Measures Adjusted General Corporate and Unallocated R&D costs Net Leverage Ratio US$ Millions Quarter and Full Year Ended 31 March US$ Millions 31 March Q4 FY25 Q4 FY24 FY25 FY24 FY25 FY24 General Corporate and Unallocated R&D costs $ 196.6 $ 200.6 $ 334.0 $ 364.8 Numerator: Restr
Slide 24: Non-GAAP Financial Measures
Non-GAAP Financial Measures APAC LOCAL CURRENCY Adjusted Return on Capital Employed ("Adjusted ROCE") A$ Millions Quarter and Full Year Ended 31 March US$ Millions Full Year Ended 31 March Q4 FY25 Q4 FY24 FY25 FY24 FY25 FY24 Asia Pacific Fiber Cement Segment EBIT A$ 68.4 A$ 58.6 A$ 172.7 A$ 252.7 Re
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