Big River Industries (BRI) investor relations material

Executive summary

• Revenue declined 2.3% year-over-year to $405.1m, mainly due to a soft residential segment, but core focus segments showed growth and stabilization in the second half.

• Underlying EBITDA fell 11.9% to $28.7m, but returned to 10.6% growth in the second half as efficiency measures and cost controls took effect.

• Gross profit margin increased by 20 basis points to 26.2%, reflecting pricing discipline and supply chain efficiencies.

• Cash conversion reached 100.1%, supporting a total dividend of $0.04 per share, or 80% of underlying NPAT, with stable gearing at 20.1%.

• Statutory NPAT was impacted by a $20m non-cash impairment charge on intangible assets.

Financial highlights

• Revenue: $405.1m, down 2.3% year-over-year; like-for-like revenue down 6.6%.

• Underlying EBITDA: $28.7m, down 11.9% year-over-year; EBITDA margin 7.1%.

• Gross profit margin expanded by 20 basis points to 26.2%.

• Operating expenses increased 2.9% due to acquisitions, but declined in the second half due to cost initiatives.

• Underlying NPAT: $4.3m, down 48.6% year-over-year; statutory NPAT: $(14.7)m after impairment.

Outlook and guidance

• Market conditions remain challenging, but early signs of modest recovery in residential activity are expected in FY 2026.

• Lower interest rates, sustained housing demand, and government stimulus expected to support a rebound.

• Queensland anticipated as the fastest growing region, driven by infrastructure investment and the upcoming Brisbane Olympics.

• Key priorities: market share growth in differentiated segments, margin improvement, operational enhancements, ERP rollout, and disciplined capital allocation.

• Long-term targets reaffirmed: revenue above market growth, gross profit margin growth, EBITDA margins above 10%, working capital to revenue below 20%, and dividend payout ratio of 50–70%.