• Sales up 5.5% to $1,314.7 million
• Adjusted EBITDA up 1.1% to $277.7 million
• Reported NPAT up 13.5% to $125.0 million
• Adjusted EPS up 1.6% to US19.0 cents per share
• Net debt reduced to 1.30 times EBITDA

Reliance Worldwide Corporation Ltd (RWC) reported its operating and financial results for the financial year ended 30 June 2025. Net sales were $1,314.7 million, 5.5% higher than the prior corresponding period (pcp), with a full year contribution from the Holman Industries acquisition. Excluding Holman and the impact of the closure of the Supply Smart sales model, sales were 0.5% lower than the pcp. Adjusted EBITDA was $277.7 million, up 1.1% on the pcp, reflecting the Holman contribution partly offset by lower volumes in the US and UK. Adjusted EBIT was $208.9 million, down 2.6% on the pcp. Reported NPAT of $125.0 million, which included $7.2 million in one-off items, was 13.5% higher than the pcp. Adjusting for one-off items and the cash tax benefit from goodwill amortisation, Adjusted NPAT was $147.7 million, up 0.5% on the pcp. Adjusted earnings per share of US19.0 cents per share were 1.6% higher than the pcp. The company generated strong cash flow, with operating cash flow conversion at 97.6% of Adjusted EBITDA. Net debt was reduced to $331.6 million, representing a net debt to EBITDA ratio of 1.30 times.

For the first six months of FY26, RWC expects consolidated external sales to be broadly flat to down by low single digit percentage points compared to the prior corresponding period. The imposition of additional US tariffs is expected to disproportionately impact Americas first half operating earnings and margins. RWC is not providing quantitative guidance for overall FY26 full year revenue and earnings expectations due to the uncertainty around the immediate economic outlook in its key markets.

The outlook for RWC's key markets remains uncertain. In the US, high mortgage rates continue to adversely impact existing home turnover and new home construction activity. In Australia, a modest recovery in new home construction has been observed but overall activity levels remain below recent peaks. The short-term outlook for the UK economy appears mixed, with continued low levels of new home construction orders an ongoing headwind.