• FY25 revenue of $103.3M, down 13.6% due to transition to importer model and subdued discretionary spending
• FY25 EBITDA increased 5.5% to $15.3M, inclusive of $1.4M in ERP project costs
• Completed exit from Seasonal Business operations and appointed Blaze as US distributor

Shriro Holdings Ltd (ASX: SHM) held its 2025 Annual General Meeting, where Chair Abigail Cheadle and CEO Tim Hargreaves provided an update on the company's performance and outlook. Shriro delivered FY25 revenue of $103.3 million, a 13.6% decline, largely driven by the transition from wholesaler to importer in the Australian BBQ category, together with generally subdued discretionary spending. However, EBITDA increased 5.5% to $15.3 million, inclusive of $1.4 million in ERP project costs. The ERP system was delivered on time and on budget, though additional optimisation and licence costs of approximately $1.0 million are anticipated in FY26. Management also completed the exit from Shriro's Seasonal Business operations during FY25. A key milestone was the appointment of Blaze, a subsidiary of BBQ Guys, as the company's US distributor, the final step in establishing a global distribution model that is capital-efficient, scalable, and working-capital-light. This sharper, more efficient operating structure enabled Shriro to return $19.5 million to shareholders during FY25 through share buy-backs and fully franked dividends, following the $25.0 million returned in FY24. As at 30 June 2025, Shriro held $13.9 million in cash, which, together with operating cash flows, will support proposed buy-backs totalling $20.0 million in FY26, subject to shareholder approval, in addition to regular fully franked dividends.

Shriro expects EBITDA to increase in FY26 compared with FY25. The company plans to maximise cash returns to shareholders via proposed Share Buy Backs.

Shriro expects revenue growth in FY26 from new product launches, including the Casio FX1AU school calculator, a new Casio timepiece range, and 3 innovative Everdure BBQ platforms. The company also plans to add new distribution brands, such as Manhattan Portage, and leverage its e-Commerce and operational strengths to drive growth.