AGM Addresses to Shareholders and Proxy results
| Stock | Capral Ltd (CAA.ASX) |
|---|---|
| Release Time | 8 May 2025, 8:44 a.m. |
| Price Sensitive | Yes |
Capral Ltd Announces AGM Addresses and Proxy Results
- Delivered resilient operational performance in 2024 despite challenging economic conditions
- Committed to improving operational efficiency, investing in growth, and returning capital to shareholders
- Expects residential construction activity to improve in FY25, with industrial sector forecast to maintain current level
Capral Ltd delivered a resilient operational performance in the 2024 financial year despite more challenging economic conditions. The company's EBITDA was $58.3 million, EBIT fell 10% to $34.5 million, and NPAT was $32.5 million. Revenues of $650 million were on par with the prior year, with higher global LME aluminium prices offsetting a 5% decline in volumes. Demand in Capral's key industrial sectors remained solid, offsetting a slowdown in the residential construction segment. Capral completed two further distribution business acquisitions during the year and continued its work on anti-dumping of aluminium extrusions. The company remains committed to improving operational efficiency, investing in growth, and returning capital to shareholders through unfranked dividends and share buybacks. Looking ahead, Capral expects the detached housing sector to start recovering in FY25, with the industrial sector forecast to maintain its current level. The company is well-positioned to perform through market cycles and the current uncertain macro environment.
Based on current market conditions, Capral expects earnings for FY25 to be broadly in line with the prior year. The company should be in a position to continue returning capital to shareholders through share buybacks and unfranked dividends.
Capral expects the detached housing sector to start recovering in FY25, with the benefits flowing through in the second half. The industrial sector is forecast to maintain its current level. The company will focus on delivering benefits from recent distribution business acquisitions, completing the second stage of the Penrith plant upgrade, and continuing to grow its distribution business through both acquisition and organic growth.