Coventry Group (CYG) H2 2025 earnings summary

Executive summary

• FY25 results were disappointing, with significant restructuring aimed at future growth.

• Revenue declined 1.7% year-over-year to $364.6m, and EBITDA before significant items fell 40.9% to $12.3m.

• Net assets decreased to $111.2m from $143.1m in FY24.

Financial highlights

• Revenue dropped to $364.6m, down 1.7% from FY24.

• EBITDA before significant items was $12.3m, a 40.9% decrease year-over-year.

• EBIT before significant items fell 59.4% to $6.9m.

• Net profit after tax (NPAT) was a loss of $29.6m, compared to a $0.7m profit in FY24.

• Significant items included $24.5m impairment of intangibles, $6.8m ERP costs, $1.3m onerous contract, and $1.2m other non-recurring costs.

Outlook and guidance

• FY26 EBITDA guidance set at over $20m, excluding cost-out benefits.

• Focus on disciplined execution, cost reduction, and positive operating cash flow.

• July sales reached $34m, up 6.3% from June and 2.5% year-over-year, with unaudited EBITDA of $1.1m above budget.