Big River Industries (BRI) Investor Presentation summary

Company overview and history

• Heritage dates back to the late 1800s, with over 100 years in the building materials industry.

• Vertically integrated manufacturer and distributor of timber, panels, and building materials.

• Operates 24 sites across Australia and New Zealand, including manufacturing and distribution facilities.

• Diversified supply chain with both local and international partners.

• Proven track record of acquisitions and industry consolidation, supported by an experienced leadership team.

FY2025 financial highlights

• Revenue of $405.1m, down 2.3% year-over-year, reflecting challenging market conditions.

• Gross profit margin increased to 26.2% due to pricing discipline and supply chain efficiencies.

• Underlying EBITDA of $28.7m, down 11.9% year-over-year, but returned to growth in 2H25.

• Cash conversion remained strong at 100.1%, with gearing at 20.1%.

• Final dividend of 2.0cps, total 4.0cps for FY25, representing an 80% payout ratio.

Business segments and operational performance

• Construction division revenue was $275.4m, down 5.4%, with EBITDA margin stable at 8.4%.

• Panels division revenue grew 5.0% to $129.7m, but EBITDA margin declined to 10.4%.

• Construction division focused on cost control, operational improvements, and supplier alignment.

• Panels division leveraged bespoke manufacturing, expanded in decorative and technical markets, and integrated recent acquisitions.