Boom Logistics (BOL) H2 2024 earnings summary

Executive summary

• Revenue grew 26% year-over-year to $259.2m, driven by new projects and strong demand in resources, renewables, and infrastructure sectors.

• NPAT reached $6.6m, reversing a prior year loss and exceeding guidance, supported by margin controls and operational optimisation.

• Secured over $186m in new and renewed contracts, including major windfarm maintenance, with a focus on resources and renewables.

• Strategic initiatives improved labour efficiency to 85% and asset utilisation to 86%.

• Implemented a $1.2m capital return via on-market buyback and increased net assets by 5.5% to $111m.

Financial highlights

• EBITDA increased 17% year-over-year to $45.9m.

• NPAT of $6.6m, a turnaround from a $5.2m loss in FY23; underlying NPAT up $5.9m year-over-year.

• Net assets rose 5% to $111.0m.

• Cash and cash equivalents at year-end were $6.3m, up from $2.4m in FY23.

• Net capex was $33.3m, with $12.4m in proceeds from asset sales.

Outlook and guidance

• FY25 NPAT guidance is $8m, a 21% increase year-over-year, supported by a strong work pipeline.

• Capital management strategy targets returning 40–60% of the rolling two-year average NPAT, with $1.5m–$2.2m expected to be returned in FY25.

• Strategic focus on increasing return on capital, margin growth, and continued share buyback.

• Ongoing investment in digitisation, safety, and asset renewal to support growth.

• Continued focus on operational efficiency, asset optimisation, and growth in renewables and infrastructure.