• Solid FY25 results with 16% revenue growth and 4.7% EBIT increase
• $350M equity raising to fund organic investments and future growth initiatives
• Nuvisan transformation program on track, expected to complete 6 months early

ALS Limited (ASX:ALQ) has delivered a solid FY25 result, with underlying revenue of $3 billion, an increase of 16.0% led by strong organic and scope growth within Life Sciences, contrasting softer growth conditions within Commodities. Underlying EBIT increased by 4.7% to $515 million, with the underlying operating margin, excluding the impact of recent acquisitions, improving to 19.1%. Underlying NPAT declined 1.4% to $312.1 million, impacted by the fluctuating exploration environment impacting Commodities, unfavourable FX impacts, and higher interest costs linked to recent acquisitions. The company's Minerals division maintained a resilient margin of 31.1%, with capacity in place to service near-term increases in volumes. Recent acquisitions, including Nuvisan, are performing well, with the Nuvisan transformation program on track to complete six months ahead of target. ALS announced a fully underwritten $350 million equity raising to fund organic investments in the laboratory network, with excess funds to be used for other growth and M&A initiatives. The company also offered a non-underwritten Share Purchase Plan to raise up to $40 million. ALS declared a final dividend of 19.7 cents per share, representing a payout ratio of 60% of underlying continuing NPAT.

ALS is targeting organic revenue growth of 5-7% across the Group, with margin expansion. The Commodities segment is positively exposed to recent increased exploration activity, and the company anticipates incremental margin improvement from positive sample volume growth. In Life Sciences, current market conditions support a continuation in organic growth rates, with the company targeting continued margin improvement within legacy operations of between 20-40 bps in FY26.

ALS remains on track to execute on its strategy and meet the FY27 financial targets, including growing revenue to $3.3 billion and growing underlying EBIT to $600 million, with a Group EBIT margin floor of 19%. The company's resilient operating model and disciplined approach to capital management position it well to navigate near-term uncertainty and continue delivering value for shareholders.