• Continued strong revenue and EBITA growth across Qube's operations
• Pleasing financial performance ahead of internal expectations
• Highlights include strong agri activities and grain trading performance

Qube Holdings Ltd reported a pleasing financial performance for the H1 FY25 period, with strong revenue and EBITA growth across its operations. The results were ahead of internal expectations, driven by a combination of organic growth and contributions from prior and current period acquisitions. A key highlight was the strong performance of Qube's agri activities, benefitting significantly from the company's grain trading activities. The financial strength and flexibility of the business was also enhanced through an investment grade credit rating, a $600m AMTN issue, and around $297.1m of asset sales contracted towards the end of the period. Despite some headwinds, including a decline in automotive volumes, start-up losses at the MLP Interstate Terminal, and the impact of industrial action, Qube delivered a pleasing result with continued improvement in margins and a stable return on average capital employed.

Qube expects continued growth in revenue and EBITA in FY25, driven by a combination of organic growth and contributions from prior and current period acquisitions. The company's agri activities, including grain trading, are expected to remain a key driver of performance.

Qube remains focused on delivering sustainable earnings growth across its diversified portfolio of logistics and infrastructure assets. The company is well-positioned to capitalize on growth opportunities in its key markets, while maintaining a disciplined approach to investment and optimizing long-term returns.