• Continued growth in underlying earnings with most parts of the business delivering higher revenue and earnings
• Financial performance reflects a combination of organic growth and contribution from prior and current period acquisitions
• Continued improvement in margins and ROACE highlights Qube's disciplined approach to investment and operational leverage

Qube Holdings Limited reported a strong financial performance in FY25, with underlying revenue increasing by 27.3% to $4,461.4 million and underlying EBITA growing by 18.5% to $377.2 million. The financial performance reflects a combination of organic growth and contribution from prior and current period acquisitions. Qube's diversified business model and disciplined approach to investment and operational leverage have enabled the company to deliver another record result, despite headwinds in some markets such as the decline in automotive volumes and the impact of industrial action and extreme weather events. Key highlights in the period were the strong performance of Qube's Energy and Agri related activities, with the latter benefitting significantly from Qube's grain trading strategy. The company's financial strength and flexibility have been enhanced through investment grade credit ratings, supporting a 7.1% increase in the full year dividend to 9.8 cents per share (fully franked).

Qube's grain trading activities contributed $898.0 million in revenue and $116.9 million in intercompany costs for rail and agri services in FY25. Grain throughput across Qube's terminals more than doubled to 3.08 million tonnes, with around 51% of these volumes flowing from Qube's own grain trading activities.

In FY26, Qube plans to selectively expand the successful NSW grain trading model to other states, including the addition of a bulk grain ship loading facility at the Port of Albany in WA and the commencement of container packing operations in Brisbane, Melbourne and Fremantle.