Lindsay Australia (LAU) investor relations material

Executive summary

• Achieved record full-year revenue of $1,072.7 million (AUD 1.072 billion), up 26.2% year-over-year, surpassing $1 billion for the first time, with strong growth across all divisions and a full-year contribution from SRT Logistics integration.

• Underlying EBITDA rose 25.6% to $127.8 million and underlying EBIT increased 37.7% to $60.4 million, reflecting operational leverage and synergy capture.

• SRT Logistics integration completed, delivering EPS accretion, $1.5 million in cost synergies, and expanded geographic reach.

• Secured a five-year secondary freight contract in North Queensland, expected to generate $30–36 million in annual revenue, with rollout beginning October 2026 and full operations by July 2027.

• Diversified revenue streams and expanded national network, positioning for disciplined growth and yield extraction.

Financial highlights

• Underlying NPAT increased 27.1% to $27.6 million; reported NPAT was $22.9 million, up 31.5% year-over-year.

• Underlying EPS up 10% to 7.6 cents; fully franked final dividend of 1.7 cents per share, full-year dividend 3.8 cents per share.

• Operating cash conversion normalized at 74%, above long-term average; operating cash flow was $75.2 million.

• CapEx moderated to $40–40.5 million, with major projects completed and efficiency gains achieved.

• Free cash flow was $11.8 million after working capital, capex, and lease payments.

Outlook and guidance

• FY2027 focus on extracting value from recent investments, improving asset utilisation, and margin enhancement.

• Secondary freight rollout begins October 2026, with partial contribution in FY2027 and full run rate from FY2028.

• Growth targeted in less seasonal categories and through share gains as industry capacity exits.

• Rural segment outlook supported by favorable growing conditions and irrigation.

• Net leverage targeted at ~1.8x by June 2027, with capital discipline maintained.