Codan (CDA) investor relations material

Executive summary

• Achieved record FY26 revenue of AUD 875 million, up 30% year-over-year, driven by strong demand in unmanned systems, new gold detector products, and a full-year contribution from Kägwerks.

• EBIT rose 67% to AUD 244.1 million and NPAT increased 69% to AUD 175.2 million, both slightly above prior guidance.

• Communications and Metal Detection segments delivered outstanding results, with significant contributions from defence and gold detector demand.

• Declared a fully franked final dividend of AUD 0.485 per share, up 70% year-on-year.

• Leadership transition: new CFO appointed, effective 1 September 2026.

Financial highlights

• Revenue: AUD 875 million (+30%); EBIT: AUD 244.1 million (+67%); NPAT: AUD 175.2 million (+69%).

• EPS: 96.5 cents (+69%); EBITDA: AUD 288.9 million (+57%).

• NPAT margin improved to 20%, up from 15.3% in FY25.

• Net cash position of AUD 35.7 million at June 2026, a AUD 123.9 million improvement from December 2025.

• AUD 250 million undrawn debt facility and strong operating cash flow support future growth.

Outlook and guidance

• Targeting FY27 revenue growth of approximately 20%, with H1 FY27 expected to significantly exceed H1 FY26.

• Communications business targets long-term sales growth of 10%-15% per annum.

• Minelab well positioned with strong demand for new products and H2 FY26 monthly run rate of AUD 32 million continuing into FY27.

• Group remains focused on product innovation, geographic expansion, and disciplined capital allocation.

• Monitoring global electronic supply chain constraints.