Key points
- Group revenue up 18.5% to $170.2 million
- Underlying EBITDA up 22% to $25.3 million
- Order book up 22% to $224 million
- Interim dividend up 50% to 0.6 cents per share
Full summary
Austin Engineering Ltd (ASX: ANG) has announced its results for the first half of Financial Year 2025 (FY25 H1). Group revenue increased by 18.5% to $170.2 million, driven by strong performances across all business units, including a 52% rise in the USA. Underlying EBITDA grew by 22% to $25.3 million, with the APAC business unit achieving a 117% increase in underlying EBITDA and a margin of 21%. The USA business also delivered a 35% increase in EBITDA. Group underlying NPAT was up 16.0% to $17.4 million. The order book grew by 22% to a record $224 million, led by strong demand in the Americas. The company has reiterated its FY25 guidance, expecting a 12% revenue increase to around $350 million and a 30% underlying EBIT increase to around $50 million. The APAC region is now on a solid footing, and the USA business continues its strong growth trajectory. The Chile business is expected to be profitable in FY25 H2 as it has a stronger product mix. Austin has the balance sheet strength to fund strategic M&A opportunities that would complement its existing offering and business structure.
Guidance
FY25 revenue of ~$350 million with upside potential (FY24: $313.2 million), and underlying FY25 EBIT of ~$50 million (FY24: $38.6 million).
Outlook
Austin sees solid demand for its products and services around the world, with the OEM-style outsourcing truck tray contracts in Chile seen as an opportunity that could extend into other regions. The company expects a stronger second half revenue and profit in line with historic performance, with the APAC region now on a solid footing, the USA continuing on its very strong growth path, and Chile expected to be profitable in FY25 H2.