FY24 Results Media Release

• Revenue of $556.4 million, up 13.9%
• Underlying EBITDA of $95.4 million, up 11.0%
• Fully franked final dividend of 1.42cps, full year dividend of 4.24cps

Silk Logistics Holdings Limited (ASX: SLH) has reported its full year results for the period ending 30 June 2024 (FY24). The company reported revenue of $556.4 million, an increase of 13.9% on the prior corresponding period (pcp). Underlying EBITDA was $95.4 million, an increase of 11.0% on pcp, while underlying EBIT was $34.8 million, a decrease of 1.4% on pcp. The company announced a fully franked final dividend of 1.42cps, resulting in a full year fully franked dividend of 4.24cps, representing a 3.1% annual dividend yield. Silk's resilience and agility were highlighted this year, as the company managed an unexpected CEO succession, successfully integrated an important strategic acquisition, and delivered on its revenue, EBITDA and EBIT guidance despite ongoing external challenges. The company's long-term customer relationships, with an average customer tenure of approximately 7.3 years, are a testament to its strong customer service ethos. Strategically, Silk believes there is significant latent demand in the bulk containerised segment, and as it further integrates the Secon acquisition, it will facilitate driving future organic growth. While the sector continues to experience headwinds, the company is encouraged by the momentum observed in the initial months of FY25, including a number of new customer contracts. Organic growth is Silk's core focus for the upcoming year, and the company will continue its disciplined approach to operations while enhancing value through investments in technology and integrating its recent acquisitions.

During FY25, Silk expects to continue its track record of delivering solid revenue and EBITDA growth, subject to no significant deterioration in economic conditions.

Silk is now targeting $1 billion in revenue in FY30, based on its current run-rate of organic growth and assuming no further acquisitions at this stage.