• Revenue of $95.3 million, down 12% on prior period
• EBIT of $7.1 million, down 3% on prior period
• EBIT margin up 10% to 7.5% due to focus on higher margin brands
• Interim dividend up 11% to $0.10 per share

Globe International Limited (ASX:GLB), a global designer, producer and distributor in boardsports, street fashion, outdoor and workwear, has released its results for the six months ended 31 December 2024 (H1 FY25). Revenue was $95.3 million, down 12% on the prior corresponding period (PCP) due to a planned transition in brand mix towards higher-margin brand portfolio, with $15 million of non-core revenue intentionally eliminated in H1 FY25. EBIT was $7.1 million, down 3% on PCP, but EBIT margin increased 10% to 7.5% due to the deliberate focus on higher margin, long-term growth brands. NPAT was $4.8 million, down 3% on PCP. The company declared a fully franked interim dividend of $0.10 per ordinary share (cps), up 11% from H1 FY24 ($0.09 cps). Globe International continues to generate good cash flow, achieving $8.7 million in operating cash flow in the half, and has a strong balance sheet with a net cash position of $17.3 million. The company's long-term strategy of building stronger, more profitable brands remains on track, with its core and emerging brands performing strongly and increasing market share despite challenging conditions. The company expects to see the benefits of its strategic initiatives continue to flow through to the second half of the financial year.

Globe International expects to return to revenue growth in the second half of FY25.

Globe International remains a stable yet ever-evolving global brand house, based on a mix of built-for-purpose core and emerging brands. The company's core brands are operating in markets with significant long-term growth potential, which gives it confidence that it is on track to grow returns for shareholders.