Half Yearly Report and Accounts

• Revenue decreased 9.4% to $13.2M due to exit from east coast hire and service
• EBITDA increased 359.6% to $1.9M driven by transition to sales and distribution focus
• Net profit after tax of $475k, a turnaround from $1.8M loss in prior period

Oldfields Holdings Ltd reported a 9.4% decline in revenue to $13.2M for the half-year ended 31 December 2024, as it transitioned away from the east coast hire and service business. However, the company's focus on sales and distribution, enabled by a new customer relationship management (CRM) system, drove a 359.6% increase in EBITDA to $1.9M. The company returned to profitability, reporting a net profit after tax of $475k, compared to a $1.8M loss in the prior corresponding period. The transition away from hire and service on the east coast commenced in June 2024 and has continued for the first half of the financial year. This restructure has enabled the establishment of the CRM system, which has highlighted significant growth in one-off and annuity sales. In the 2025 financial year, the business is expected to continue scaling as the annuity sales grow and self-fund working capital. The second half of the financial year is expected to be strong, with a stronger return in cash flow and working capital funding.

The company expects stronger return in cash flow and working capital funding in the second half of the 2025 financial year.

A key area of focus for the 2025 financial year will be to platform off strong organic growth and increase demand for paint and mobile scaffold.