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DRA Global (DRA) investor relations material
DRA Global H2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved record underlying EBIT of $78.4M, up 53% year-over-year, and underlying NPAT of $47.9M, with revenue stable at $903M, a 2% increase from FY23.
Settled a significant legacy legal dispute, resulting in a $55.9M pre-tax impact, reducing statutory NPAT to a loss of $22.7M, but removing a major contingent liability.
Declared a 33c per share dividend for FY24, supported by a strong balance sheet with $114.4M net cash and no external bank debt.
Completed a share buyback and delisted from ASX and JSE in early 2025.
EMEA and Minopex exceeded budget expectations; AMER showed growth momentum; APAC remained stable.
Financial highlights
Revenue: $902.9M (up 2% year-over-year); Underlying EBIT: $78.4M (up 53%); Underlying NPAT: $47.9M.
Statutory EBIT: $21.7M (down from $47.9M); Statutory NPAT: loss of $22.7M (vs. $19.7M profit in FY23), due to litigation settlement and deferred tax asset derecognition.
Net cash: $114.4M (down 10% from $127.7M); all debt repaid, net gearing reduced to 0%.
Net asset value per share: $5.09 (up 5% from $4.85).
Dividend: 33c per share declared for FY24; $6.2M returned to shareholders.
Outlook and guidance
Revenue outlook softened towards year-end due to project completions; Minopex's 2025 revenue to be impacted by contract conclusion.
EMEA expected to maintain robust performance in 2025, though medium-term pipeline uncertain due to commodity price cycles.
AMER and APAC maintain stable growth; strong pipeline in North America for critical minerals.
Global mining sector outlook remains volatile, influenced by geopolitical, economic, and commodity demand factors.
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