• Diversified business model delivers robust performance
• Property Investments and Soul Patts investments drive earnings
• Building Products Australia maintains EBITDA margins despite weak conditions

Brickworks Limited has reported a strong financial performance for the first half of fiscal year 2025, with a statutory NPAT of $21 million, up 141% on the prior corresponding period, and an underlying EBITDA of $148 million, up 472%. The company's diversified business model, including its Property Investments and its major shareholding in Soul Patts, has helped offset weaker conditions in its Building Products Australia and North America divisions. The Property Investments division delivered a strong result, with EBITDA up 121% due to stabilised capitalisation rates. The company also highlighted the considerable opportunity to increase rental income from the Property Trusts over the coming years through the realisation of mark-to-market rental uplifts. The company's investment in Soul Patts continued to perform well, with higher normal dividends received in the half. Brickworks is the largest shareholder in Australia's leading publicly listed investment house.In the Building Products Australia division, EBIT was down 2% on the prior corresponding period, but the division maintained EBITDA margins despite subdued building activity across Australia. The Building Products North America division reported a 360% decline in EBIT, reflecting continued challenging conditions in core regions, an accelerated plant shutdown program to manage inventory, and disruption to available product lines in the Brickworks Supply stores.The company remains focused on delivering sustainable dividends to shareholders, with a 25 cents per share interim fully franked dividend, up 4% on the prior corresponding period.

Brickworks has not provided any high-importance, price-sensitive forward-looking financial metrics in the announcement.

Brickworks has not provided a detailed outlook statement in the announcement. However, the company has highlighted the considerable opportunity to increase rental income from the Property Trusts over the coming years through the realisation of mark-to-market rental uplifts.