GWA Group (GWA) investor relations material

Executive summary

• Revenue increased 2.0% year-over-year to $214.1m in H1 FY26, with growth across Australia, New Zealand, and the UK.

• Volume grew 4.9% year-over-year, supported by 'Win the Plumber' and customer-first strategies.

• Normalised EBIT rose 2.9% and NPAT grew 5.0% compared to H1 FY25, reflecting disciplined cost management and operating leverage.

• Interim fully franked dividend increased 6.7% to 8c per share, payable in March 2026, supported by robust cash generation.

• Share buyback program executed, with $10m of $30m program completed by December 2025.

Financial highlights

• Sales revenue increased to $214.1 million, up from $209.9 million year-over-year.

• Net profit after tax rose to $24.7 million, compared to $21.5 million in the prior year.

• Normalized EBIT up 3%; statutory EBIT up 11%; statutory net profit after tax up 14.9% compared to the prior half.

• Cash conversion ratio at 92% for the half; operating cash flow of AUD 43.6 million.

• Basic earnings per share increased to 9.4 cents from 8.1 cents year-over-year.

Outlook and guidance

• Market conditions expected to remain mixed in H2 FY26, with ongoing focus on strategic priorities and new product launches.

• Australian residential and multi-residential segments forecasted to improve late FY26; commercial stable but office new build subdued.

• New Zealand outlook mixed; UK faces challenging construction market.

• Repair and renovation demand tempered by cost of living pressures and economic uncertainty.

• No Dividend Reinvestment Plan will be offered for the interim dividend.