• Revenue up 30% to $875.0 million
• EBIT up 67% to $244.1 million
• Net profit after tax up 69% to $175.2 million
• Fully franked dividend of 48.5 cents, up 70% from FY25
• Net cash of $35.7 million, improving from net debt of $88.2 million

Codan Ltd announced its full-year results for FY26, showcasing robust financial performance across its segments. Group revenue increased by 30% to $875.0 million, driven by a 22% growth in the Communications segment and a 42% rise in the Metal Detection segment. Earnings before interest and tax (EBIT) surged 67% to $244.1 million, and net profit after tax (NPAT) rose 69% to $175.2 million. The Communications segment exceeded its FY26 target, achieving a 31% profit margin, while Metal Detection saw a 65% increase in segment profit. The company also reported a strong balance sheet with net cash of $35.7 million as at 30 June 2026, compared to net debt of $88.2 million as at 31 December 2025. Codan's performance was attributed to disciplined execution of its strategic plan, strong demand for its products, and strategic investments.

FY27 revenue growth target of 20% for the Communications segment and strong demand for Minelab products

The Group expects to continue its strong performance in FY27, driven by elevated defence spending, geopolitical tensions, and demand for Minelab's products. The company is monitoring supply chain constraints.