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Lindsay Australia Limited (LAU) investor relations material

Lindsay Australia Limited H2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2025 earnings summary24 Aug, 2025

Executive summary

  • Revenue increased 5.6% year-over-year to $849.8M, with strategic acquisitions (SRT, GJ Freight, Hunter & NER) expanding the national footprint, diversifying earnings, and reducing seasonality risk.

  • Underlying EBITDA performance was mixed, with one report noting a decline of 11.7% to $81.4M and another an increase of 16.3% to $124.3M, reflecting margin pressures and higher costs.

  • Underlying NPAT fell 26.6% to $22.3M, and underlying EPS declined 27.3% to 7.1 cps, due to lower EBITDA and increased interest and depreciation.

  • Integration of SRT delivered $14.6M EBIT and $19.9M EBITDA, with synergies targeted for FY26.

  • Continued investment in network, infrastructure, and operational transformation to drive efficiency and future growth.

Financial highlights

  • Net leverage ratio increased to 1.53x, within target range but up 31.6% year-over-year after acquisition funding.

  • ROIC was 14.3%, down from 20.2% in the prior year, reflecting recent investments.

  • Full-year dividend of $0.38 per share (3.8 cps), fully franked, down 22.4% from last year, with payout ratio at 54.1%.

  • Operating cash conversion normalized at 73–80%, with 2025 impacted by $22M in catch-up tax payments.

  • Underlying free cash flow was $20.3M.

Outlook and guidance

  • Near-term environment expected to remain challenging with persistent cost pressures, competition, and excess capacity.

  • Market share gains anticipated as sector exits and consolidation accelerate.

  • Integration of SRT expected to deliver 15% EPS accretion on FY25 pro forma basis, with $1M in synergies targeted for FY26.

  • Targeting non-seasonal revenue growth in dairy, protein, and secondary freight; rural segment expected to remain resilient.

  • Focus on integration, synergy realization, and transformation to strengthen margins and customer outcomes.

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Frequently asked questions

Lindsay Australia Limited is an Australian company providing logistics, rural supply, and transport services primarily to the agricultural sector. The company’s operations include temperature-controlled road and rail transport, freight logistics, and the distribution of agricultural supplies such as fertilizers, chemicals, and packaging materials. Lindsay Australia supports farmers and agribusinesses by ensuring efficient transport of fresh produce and other goods across the country. The company is headquartered in Brisbane, Queensland, and its shares are listed on the ASX.

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