Multi-Chem (AWZ) H1 2025 earnings summary

Executive summary

• H1 2025 revenue fell 12% YoY to $301.0m, while profit before tax declined 18% to $17.1m and net profit fell 13% to $14.2m.

• Lower IT sales volumes and USD depreciation weighed on revenue; higher interest income and a receivables allowance reversal partly offset profit pressures.

Financial highlights

• Revenue was $301.0m versus $342.5m in H1 2024; gross profit decreased 14% to $44.4m.

• Profit before tax was $17.1m versus $20.8m; net income was $14.2m versus $16.4m, and basic and diluted EPS were 15.78 cents versus 18.23 cents.

• Income tax expense decreased 35% to $2.8m from $4.4m, partly offsetting the lower profit before tax.

• Adjusted excluding net foreign exchange differences, PBT was $17.7m in H1 2025 versus $20.8m in H1 2024.

Outlook and guidance

• Near-term IT performance remains exposed to political and economic developments, inflation, interest-rate movements, geopolitical conflicts, and US tariffs; management said it will remain vigilant.

• IT strategy prioritizes best-of-breed products, selective product ranges, regional expansion, promotion of the M.Tech brand, and closer work with key partners.

• Management views IT as a continuing business requirement, with security integral to infrastructure; mature regional offices are expected to contribute more to performance.