CTI Logistics (CLX) H1 2025 earnings summary

Executive summary

• Revenue grew 2.5% to $165.9m and EBITDA rose 6.2% to $28.4m in 1H25, driven by higher quality revenue, cost control, and strong minerals and energy logistics.

• Profit before tax declined 18.2% to $9.3m due to higher depreciation and interest from recent investments.

• Net assets increased 2.8% since June 2024, reaching $124.9m.

• Maintained low gearing at 27% and strong cash generation, supporting capital investment and dividends.

• Significant property value uplift with independent valuations increasing owned property value to $169m, $66m above carrying value.

Financial highlights

• Revenue: $165.9m (+2.5% YoY); EBITDA: $28.4m (+6.2% YoY); profit before tax: $9.3m (down 18.2% YoY).

• Interim dividend maintained at 5.0 cps, fully franked, payable April 2025; dividend yield 5.7%.

• Net debt increased to $45.6m, supported by property assets and development funding.

• Capital investment of $19.9m in 1H25, including $10.4m in land/buildings and $5.9m in vehicles.

• Net profit after tax: $7.1m (down from $7.6m YoY); basic EPS: 9.15c (down from 9.88c YoY).

Outlook and guidance

• Capital expenditure expected to normalize in FY26 after significant FY25 investment.

• Expanded national capacity and updated fleet expected to drive earnings growth from FY26.

• Minerals and energy sector work anticipated to increase.

• Company evaluating acquisition opportunities amid ongoing industry consolidation.

• Operating environment remains uncertain but positive on freight industry due to population and online spending growth.