• Revenue growth of 5.6% to $849.8m, supported by organic growth and market share wins
• Underlying EBITDA of $81.4m down 11.7% due to supply chain disruption and margin compression
• Completed acquisitions of GJ Freight, SRT Logistics to expand network and capabilities

Lindsay Australia Limited (ASX: LAU) held its 2025 Annual General Meeting, where the CEO provided an update on the company's performance and strategic execution. FY25 was a year that emphasised the resilience of Lindsay Australia's business model and the discipline of its strategy execution. Despite a challenging operating environment, the company delivered revenue growth of 5.6% to $849.8 million, predominantly supported by organic growth and market share wins across both its Transport and Rural divisions. Underlying EBITDA of $81.4 million was down 11.7%, in line with guidance, reflecting supply chain disruption and margin compression in a highly competitive transport market. The company invested $50.8 million in fleet, infrastructure, and strategic initiatives to unlock bottlenecks and support efficiency improvements, whilst keeping net leverage within its target range. The company completed the acquisition of GJ Freight, providing access to the expanding South West WA freight and horticultural market, and the acquisition of SRT Logistics, Tasmania's largest refrigerated carrier, which is highly accretive and will further diversify the company's operating base. The transformation program is delivering early wins and remains central to Lindsay Australia's margin recovery and long-term competitiveness. The company also secured a new 4-year Enterprise Agreement covering over 1,800 employees, ensuring workforce stability and alignment with its growth ambitions. Looking ahead, Lindsay Australia is focused on integrating the SRT and GJ Freight acquisitions, embedding transformation initiatives to drive margin recovery, and leveraging its strengthened leadership and workforce capability to maintain its focus on sustainable growth and shareholder value in a competitive environment.

The company expects operating conditions to remain competitive in FY26 but is excited by the opportunities created by the acquisitions, the momentum generated in the transformation program, and the ability of its people to deliver sustainable value for shareholders.

Lindsay Australia is focused on the effective integration of SRT Logistics and GJ Freight, embedding the value from these acquisitions, and continuing to drive transformation and margin recovery through cost discipline, load balancing, and better capital deployment. The company remains confident in the positive long-term fundamentals of the essential refrigerated freight market and is targeting a mid-term ROIC of 15-20%.