Brambles (BXB) investor relations material

Executive summary

• Achieved sales revenue growth of 3% to US$6,670m and underlying profit growth of 10% to US$1,372m year-over-year, with free cash flow before dividends exceeding US$1,095m for the first time.

• Transformation program delivered structural improvements, enhanced customer value proposition, and digital investments, supporting resilience and capital efficiency.

• Declared a total dividend of $0.3983 per share, up 17% from FY24, and completed $400m in share buybacks in FY25.

• Announced additional buybacks of up to $400m for FY26 and outlined a new 2030 sustainability program, with significant ESG achievements and global recognition.

Financial highlights

• Net new business wins offset lower like-for-like volumes amid subdued consumer demand; sales revenue grew 3% to US$6,670m and underlying profit rose 10% to US$1,372m.

• Underlying profit margin expanded by 1.3 points to 20.6%, driven by asset efficiency, supply chain initiatives, and disciplined overhead cost management.

• ROCE/ROCI increased 1.4 points to 21.9%; EPS grew 14% with a 1% benefit from share buybacks.

• Profit after tax from continuing operations rose 13%, aided by lower net finance costs and a gain from the CHEP India divestment.

• Free cash flow before dividends increased by US$212m to US$1,095m.

Outlook and guidance

• FY26 sales revenue growth expected between 3% and 5%, with underlying profit growth of 8% to 11%.

• Free cash flow before dividends forecasted at US$850–950m; pooling CapEx to sales ratio expected at 14–16%.

• Margin expansion anticipated across all regions, with supply chain productivity expected to be margin accretive from FY26.

• Overhead restructuring to deliver a net benefit of $15m in FY26 and $55m annualized in FY27.

• Continued focus on operating leverage, digital transformation, and capital efficiency.