Appendix 4D and 31 December 2024 interim financial report

Key points

• Revenue from ordinary activities up 14.8% to US$676.5m
• Net profit after tax up 31.8% to US$67.2m
• Interim dividend of US2.5 cents per share and on-market share buy-back of US$19.5m

Full summary

Reliance Worldwide Corporation Limited (ASX: RWC) announced its financial results for the six months ended 31 December 2024. Revenue from ordinary activities increased by 14.8% to US$676.5 million, driven by a full period contribution from the acquisition of Holman Industries on 1 March 2024. Excluding Holman and the impact of the closure of the Supply Smart sales model, sales were 3.8% higher than the prior corresponding period. Reported earnings before interest, tax, depreciation and amortisation (EBITDA) were US$142.8 million, up 26.8% on the prior period, reflecting the Holman contribution and cost savings of US$10.2 million achieved through continuous improvement initiatives, the benefits of the EMEA restructuring in FY2024, and Holman synergies realisation. Reported net profit after tax (NPAT) increased by 31.8% to US$67.2 million. The company declared an unfranked interim dividend of US2.5 cents per share and will undertake an on-market share buy-back of US$19.5 million, representing a total distribution of 58.0% of reported NPAT and 51.3% of adjusted NPAT for the half year. The directors have determined that in future periods, the total distribution percentage will be measured by reference to underlying (adjusted) NPAT.