Brambles Limited (BXB) Q2 2025 Earnings Call

Investor webinar replay

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Replay transcript excerpt

WEBVTT 00:00:01.330 -- 00:00:05.014 I'll start today by sharing some of our performance highlights for the first half of 00:00:05.014 -- 00:00:10.040 2025, an overview of the operating environment, and an update on our 00:00:10.040 -- 00:00:15.506 transformation progress before commenting on our outlook for the full year. 00:00:15.506 -- 00:00:21.131 I will then pass over to Joaquin to provide a more detailed update on our financials. 00:00:26.059 -- 00:00:28.101 We achieved 00:00:28.101 -- 00:00:34.154 a 4%. with equal contributions from price realisation and volume growth, 00:00:34.154 -- 00:00:38.019 while delivering a 10% uplift in underlying profit against last year. 00:00:38.019 -- 00:00:40.019 The 00:00:40.163 -- 00:00:45.130 return to volume growth was pleasing, especially net new business wins in our US pallets 00:00:45.130 -- 00:00:50.334 business, while pricing continued to recover the cost to serve. 00:00:51.038 -- 00:00:56.426 Our profit result demonstrates continued operating leverage, driven by ongoing commercial 00:00:56.426 -- 00:01:01.949 discipline and productivity benefits. including further improvements to asset efficiency, 00:01:01.949 -- 00:01:07.594 which delivered a material reduction in uncompensated losses in the period. 00:01:08.097 -- 00:01:13.023 The significant improvement to asset efficiency was also a key contributor to our free 00:01:13.023 -- 00:01:18.530 cash flow before dividends performance of US$429 million, 00:01:18.530 -- 00:01:22.515 which increased US$118 million from the same period last year. 00:01:22.515 -- 00:01:24.515 The 00:01:24.558 -- 00:01:29.087 strength of cash flow generation in the first half has informed our decision today to 00:01:29.087 -- 00:01:34.675 upgrade our FY25 cash flow outlook by US$100 million, 00:...