FY24 Results - Media Release

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Stock Ventia Services Group Ltd (VNT.ASX)
Release Time 19 Feb 2025, 8:41 a.m.
Price Sensitive Yes
 Ventia delivers 12.8% NPATA growth, announces $100m buyback
Key Points
  • FY25 Guidance: Underlying NPATA growth of 7-10% on FY24
  • On-market buyback of up to $100 million
  • Final Dividend of 10.63 cents per share, franked at 80%
Full Summary

Ventia Services Group Limited (Ventia) announced its full-year results for the period ending 31 December 2024, with NPATA of $227.9 million exceeding the top end of upgraded guidance. The company provided FY25 guidance for underlying NPATA growth of 7-10% compared to FY24 Statutory NPATA. Ventia Managing Director and Group CEO Dean Banks stated that the FY24 result highlighted continued demand for essential services, with Ventia's strategy to redefine service excellence strengthening existing customer relationships and securing new ones. This is reflected in the company's work in hand growth of 6.7% to $19.4 billion. Ventia also announced its intention to conduct an on-market buyback of up to $100 million of its ordinary shares, demonstrating its robust capital position while maintaining capacity to pursue growth opportunities. Regarding the ACCC's notification of civil proceedings in December, Ventia stated it will defend the allegations of competition law contraventions, as it has not identified any misconduct and remains committed to ethical business practices and high-quality service delivery. The company's sector performance saw revenue growth in the D&SI, Telecommunications, and Infrastructure Services segments, while the Transport segment experienced a slight decline. Safety and sustainability remain a priority, with increases in TRIFR and SIFR, and progress towards the company's 2030 Science Based Target for emissions reduction. Ventia's improved credit metrics and cash conversion support the announced $100 million buyback, with further capital management initiatives to be considered in the future.

Guidance

FY25 underlying NPATA growth of 7-10% compared to FY24 Statutory NPATA.

Outlook

Ventia's Board and Management are confident in the ongoing outlook and ability to deliver business growth, with a resilient and diversified portfolio, accelerating demand drivers, and a robust pipeline of opportunities, positioning the company to deliver sustained value to stakeholders.