• 9.4% growth in sales revenue to $1.244b
• Gross profit up 1.0% to $269m with 21.6% margin
• Underlying EBITDAFX down 12.5% to $122m due to industry headwinds

Redox Limited (RDX.ASX) reported its FY25 results, highlighting a 9.4% increase in sales revenue to $1.244b, driven by strong volume growth across its key industry segments despite a subdued demand environment. Gross profit grew 1.0% to $269m, with the gross margin easing to 21.6% from 23.4% in the prior year. Underlying EBITDAFX declined 12.5% to $122m, impacted by wage inflation, storage and distribution cost increases, and a normalisation of industry-wide margins. The company completed several strategic acquisitions in FY25, including a transformer and specialty oils distributor, a solvents and specialty solvent blends business, and a specialty surfactants distributor. Redox also expanded its sales team, product portfolio, and geographic footprint, positioning the company for continued organic growth. The company remains well-financed with zero net debt, allowing it to execute on its M&A strategy and invest in future growth opportunities as the sector and macroeconomic conditions improve.

Redox is well positioned to capture growth, particularly in the US, when demand recovers. The company expects macroeconomic and geopolitical headwinds to continue into FY26, but remains confident in its ability to execute on its strategy of organic growth, acquisitions, and geographic expansion.