• Group EBITDA growth of 0.8% to $9.9m
• Group EBITDA % to sales of 5.3%
• Successful completion of D365 ERP system implementation

Coventry Group Ltd reported its H1 FY25 results, with Group EBITDA growing 0.8% to $9.9m and EBITDA margin holding steady at 5.3%. Sales were in line with the prior corresponding period, impacted by the distraction of the D365 ERP system implementation. This project saw over 800 users onboarded, requiring in excess of 10,000 upfront training hours across 73 locations in Australia and New Zealand. With the ERP upgrade now completed, the company's focus has shifted to profitable sales growth in calendar year 2025. The Fluid Systems and Trade Distribution segments both delivered positive EBITDA growth, with the Fluid Systems segment impacted the most by the ERP implementation. The company maintains a solid balance sheet position, with net tangible assets of $32.0m and net debt of $52.9m as at 31 December 2024. Looking ahead, Coventry expects sales growth of 6.0% on the prior corresponding period after 6 weeks of FY25, with early signs of recovery in New Zealand and strong gross margins and tight cost control providing operating leverage.

The company expects sales growth of 6.0% on the prior corresponding period after 6 weeks of FY25, with early signs of recovery in New Zealand and strong gross margins and tight cost control providing operating leverage.

Coventry Group is focused on accelerating profitable organic growth to achieve its 10%+ EBITDA target, with a clear strategy centered on expanding its specialist fastening systems network, improving its value proposition, and leveraging the benefits of the completed D365 ERP system implementation.