Boom Logistics (BOL) H2 2024 earnings summary

Executive summary

• Achieved revenue of $259.2m in FY24, up 26% year-over-year, with EBITDA of $45.9m, up 17% from FY23 and NPAT of $6.6m, reversing a prior year loss and exceeding guidance.

• Secured $186m in new and renewed contracts, with strong focus on resources and renewables sectors.

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

Financial highlights

• Revenue increased 26% to $259.2m compared to FY23; EBITDA rose 17% to $45.9m.

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

• Gearing ratio at 41.4%, within target range; new Tier 1 debt facility secured.

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

Outlook and guidance

• FY25 NPAT guidance set at $8m, representing a 21% increase over FY24.

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

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