AnAn International (Y35) H2 2024 earnings summary

Executive summary

• FY2024 revenue declined 4% to US$2.476b as softer demand reduced sales volumes; gross profit fell 12% and the year ended with a US$1.976m net loss versus US$12.556m profit in FY2023.

• Strategic focus remained on fuel distribution while integrating acquisitions and expanding into energy-related services, including renewable energy and HVAC; CPA acquisition extended the French wholesale footprint.

Financial highlights

• Revenue was US$2,475.919m versus US$2,565.928m; cost of sales was US$2,375.221m versus US$2,451.472m, producing gross profit of US$100.698m versus US$114.456m.

• Gross margin was 4.1% versus 4.5%; loss before tax was US$8.584m versus profit before tax of US$18.558m, and net loss was US$1.976m versus net profit of US$12.556m.

• Equity-holder net loss was US$1.071m; basic and diluted loss per share was 0.025 US cents versus earnings per share of 0.133 US cents in FY2023.

• Net cash from operations was US$45.487m versus US$36.588m; investing cash outflow was US$14.944m versus US$37.206m, while financing cash outflow was US$49.692m versus inflow of US$27.641m.

Outlook and guidance

• Moderate European economic growth in 2025 is expected to support fuel distribution; energy-market fluctuations and global economic conditions remain key outlook variables.

• Priorities include operational resilience, cost optimization, a stronger earnings base, integration synergies and selective strategic opportunities pursued with a prudent risk approach.