Austin Engineering (ANG) H2 2025 earnings summary

Executive summary

• FY 2025 revenue grew 22% to $376.7 million, with strong sales and manufacturing growth across all business units despite market challenges.

• North America led with a 54% revenue increase, supported by expanded capacity and new facilities; APAC contributed solidly with improved manufacturing efficiency and product sales.

• South America grew revenue by 21% but faced margin pressures and operational inefficiencies due to a large OEM contract and rapid production ramp-up.

• Underlying net profit after tax rose 70% to $40.4 million; statutory net profit after tax was $26.3 million.

• Order book declined 21% year-on-year, attributed to timing of order receipts.

Financial highlights

• Group revenue increased 22% year-over-year to $376.7 million.

• Underlying EBITDA improved 30% to $55.8 million; statutory EBITDA fell 4.2%.

• Underlying EBIT up 39% to $45.9 million; underlying NPAT margin improved to 10.7%.

• Operating cash flow was $2.6 million, impacted by higher working capital; negative free cash flow of $6 million due to capex and working capital.

• Full year dividend up 25% to $0.015 per share, fully franked.

Outlook and guidance

• FY 2026 revenue guidance is $390–$410 million, with underlying EBIT expected between $40–$46 million.

• Focus areas include safety, operational process standardization, Chile recovery, customer acquisition, and technology adoption.

• Positive long-term outlook based on production cycles and replacement demand, not direct commodity exposure.