Coventry Group (CYG) investor relations material

Executive summary

• Revenue for 1H FY26 reached $187.4m, up 4.2% from 2H FY25 and 1.5% from 1H FY25, with organic growth and operational improvements.

• EBITDA before significant items was $3.2m, a 33.3% increase from 2H FY25 but down 67.7% year-over-year; underlying EBIT fell to $0.5m from $7.8m.

• Statutory net loss was $9.7m, impacted by $6m in non-cash adjustments from changes in accounting estimates.

• Cost reduction initiatives delivered $5.1m in annualised savings in 1H FY26, with a $10m target for FY26.

• Strategic review of the company’s portfolio is underway following unsolicited third-party approaches, announced on 23 January 2026.

Financial highlights

• Net assets stood at $111.4m as of 31 December 2025, with net tangible assets at $26.5m and current assets exceeding current liabilities by $19.3m.

• Net debt reduced to $54.9m from $56.3m at 30 June 2025.

• Available liquidity increased to $17.6m.

• Adjusted gross operating cash flow was negative $0.1m, down from $8.7m in 2H FY25; net cash from operating activities was $2.5m, down from $7.5m year-over-year.

• Gross profit decreased to $79.1m from $80.9m year-over-year.

Outlook and guidance

• Positive momentum and improving financial performance expected to continue in 2H FY26.

• Cost-saving initiatives are ongoing and expected to deliver further benefits.

• Strategic review may lead to portfolio simplification or other value-enhancing actions.