CTI Logistics (CLX) H2 2024 earnings summary

Executive summary

• Achieved 6.3% revenue growth to $321.2m for FY24, with strong performance in both transport and logistics segments.

• EBITDA increased 4.7% to $55.9m, maintaining resilient margins despite one-off costs.

• Net assets rose 8% to $121m, supported by significant property value uplift.

• Dividend per share grew 5% to 10.5cps, with a payout ratio of 51%.

Financial highlights

• Revenue: $321.2m, up 6.3% year-over-year.

• EBITDA: $55.9m, up 4.7% year-over-year; margin at 17.4%.

• EBIT: $29.1m, up 2.1% year-over-year.

• EPS: 20.5cps, down 8% year-over-year.

• Net debt: $28.5m; gearing increased to 19%.

Outlook and guidance

• Capital expenditure expected to return to sustaining levels after recent property and fleet investments.

• Positioned to capture growth in mining, energy, and e-commerce sectors.

• Focus on leveraging technology, decarbonisation, and staff development.

• Forecasting remains challenging due to fuel price and inflation uncertainty.