• Group revenue up 22% to $674.2 million
• Earnings before interest and tax up 28% to $146.0 million
• Net profit after tax up 27% to $103.5 million
• Communications revenue up 26% to $413.5 million
• Metal detection revenue up 16% to $254.8 million

Codan Limited, the Australian-based technology company, announced its full year results for the year ended 30 June 2025 (FY25). The company reported strong financial performance, with group revenue growing 22% to $674.2 million, earnings before interest and tax (EBIT) increasing by 28% to $146.0 million, and net profit after tax (NPAT) rising by 27% to $103.5 million. The Communications business, which includes the DTC and Zetron divisions, delivered a 26% increase in revenue to $413.5 million, with segment profit growing 34% to $107.9 million. The Metal Detection business, led by the Minelab brand, also performed well, with revenue up 16% to $254.8 million and segment profit margin expanding to 39%. The company's net debt position improved significantly, reducing from $124.1 million at 31 December 2024 to $78.3 million at 30 June 2025. Codan also announced that it has increased and extended its existing bank facility to $250 million, with a further $150 million in accordion capacity, providing additional financial flexibility to pursue future inorganic growth initiatives. Looking ahead, the company expects its Communications business to grow revenue in the 15-20% range in FY26, supported by a strong orderbook, increased defense spending, and the first full year contribution from the recently acquired Kägwerks business. The Minelab business is also well-positioned for continued growth, with four new product releases scheduled for FY26 and favorable market conditions in key regions such as West Africa.

Codan expects its Communications business to grow revenue in the 15-20% range in FY26, supported by a strong orderbook, increased defense spending, and the first full year contribution from the recently acquired Kägwerks business.

Codan is well positioned for sustained growth, supported by current favorable market conditions for its defense-related communications products and gold detectors. The company remains focused on executing its strategic pillars, including investing in intellectual property, product R&D, people and systems, expanding into new geographies, and strengthening its position in core markets. Codan also continues to actively evaluate acquisition opportunities that align with its technology platforms and strategic market priorities.