GWA Group (GWA) AGM 2026 presentation summary

FY26 financial performance

• Revenue $422.3m, +0.9% YoY; normalised EBIT $78.2m, +2.5%, with EBIT margin up 0.3pp to 18.5%.

• Normalised NPAT $48.8m, +4.9%; statutory NPAT $48.0m, +10.6%, including $0.8m of after-tax significant items.

• Volume +2.3%; revenue grew across Australia (+0.9%), New Zealand (+1.3%) and the UK (+0.8%).

• FY26 dividend 16.5c/share, fully franked and +6.5% YoY; final dividend 8.5c/share.

• Cash conversion ratio 76%, affected by stock pulled forward ahead of product cost increases; net debt $128m and leverage 1.6x.

Strategy and execution

• Plumber technical interactions exceeded 30,000, up 15%; plumber bundle and spares sales increased 3.3%.

• DIFOT exceeded 90%, and customer satisfaction and Net Promoter Score improved.

• Residential and Merchant performance remained positive; Care and Commercial were affected by lower project activity and office construction softness.

• Strategy execution spans strengthening the core, deepening plumber engagement and developing adjacent water solutions, including Leak SmartShield.

FY27 trading and outlook

• Q1 revenue +0.3% YoY and volume +1.9%; Australia revenue and volume +1.8%, NZ revenue -9.1% in AUD (+0.1% in NZD), and UK revenue -5.6% in AUD (+2.4% in GBP).

• Q1 volume: Australia +1.8%, NZ -0.9% and UK +3.6%.

• Australia outlook includes modestly higher detached housing in H1, rising multi-residential completions through FY27 and softer renovation, with repair and replacement more resilient.

• Priorities include health, aged care and multi-residential specifications, volume-builder engagement, merchant partnerships and maintenance-plumber activity.

• NZ recovery is tempered by the interest-rate environment; UK repair and renovation remain difficult, with focus on social and affordable housing.