Big River Industries (BRI) AGM 2026 presentation summary

FY26 performance

• Revenue rose 5.3% YoY to $426.4m, including a partial-year contribution from JBS.

• Gross profit margin expanded 30bps to 26.5%; underlying EBITDA increased 8.4% YoY to $31.1m, with EBITDA margin up 21bps to 7.3%.

• Cash conversion was 101.5%; net working capital to revenue improved to 15.9% from 17.7%, and gearing fell to 17.9% from 20.1%.

• FY26 dividends totalled 4.0 cps, including a 2.0 cps final dividend; payout ratio was 76.9%.

• JBS contributed $25.2m revenue and $3.1m EBITDA in FY26 and was integrated ahead of initial expectations.

Growth platform and investment

• Branch, property and operating network optimisation, specialist capability investment, procurement improvements and inventory discipline supported margins and cash outcomes.

• Investment priorities include customer-focused growth, category management, supplier alignment, vertical integration, manufacturing efficiency, systems and safety initiatives.

• Growth focus spans cladding, plywood, bespoke and decorative panels, and commercial projects; improved cost base is intended to support earnings growth as volumes improve.

• LTIFR fell from 5.8 to 4.2 and TRIFR from 38.6 to 14.4.

Strategic review

• Greenstone Partners has been engaged as the Board and management assess strategic options to enhance shareholder value.

• The review remains ongoing, with no certainty of a transaction or other specific outcome; management continues executing existing growth initiatives.