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Rivco Australia (RIV) investor relations material
Rivco Australia H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record financial performance in FY25, with pre-tax NAV total return of 12.9% and total shareholder return of 15.4% year-over-year, including dividends and franking credits.
Successfully internalised management, reducing annual management costs by $1 million and aligning interests with shareholders.
Materially reduced net debt by $93.5 million, lowering loan-to-value ratio from 31% to 7% year-over-year.
Paid two fully franked dividends totaling 7.43 cents per share, marking the 16th and 17th consecutive increasing dividends.
Board renewal with new director appointments and retirements to strengthen governance.
Financial highlights
Net profit before tax rose to $33.47 million (FY2024: $13.33 million), driven by above-market entitlement sales and improved market conditions.
Total revenue increased to $13.40 million from $10.04 million year-over-year, mainly from temporary water allocation sales.
Realised gains from water entitlement sales totaled $38.7 million on $143.4 million in proceeds.
Non-statutory post-tax NAV per share increased to $1.59 (from $1.54), a 3.2% rise year-over-year.
Share price at 31 December 2025 was $1.44.
Outlook and guidance
Entering 2026 with strong momentum, a simplified structure, and a conservative balance sheet.
Demand for structured water solutions expected to remain robust, with focus on increasing leased portfolio proportion and disciplined capital management.
Board intends to evolve the dividend framework in 2026, with dividends underpinned by core operational earnings and capital gains allocated flexibly.
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