Redox (RDX) H1 2026 earnings summary

Executive summary

• Sales/revenue grew 6.6% year-over-year to AUD 674 million, driven by acquisitions, organic growth, and strong performance in North America and APAC.

• Gross profit increased 5.9% to AUD 145 million, with gross margin stable at 21.5%.

• Net profit after tax rose 8.9% to AUD 43.8 million, with after-tax ROIC improving to 14%.

• Interim dividend of AUD 0.065 per share declared, representing a 78% payout of NPAT.

• Focus remains on organic growth, disciplined cost management, and strategic M&A, especially in North America.

Financial highlights

• Underlying EBITDA FX increased 4.7% to AUD 65 million year-over-year.

• Free cash flow conversion improved to 91.4%, up from 19.7% in 1H 2025, due to lower inventory.

• Net cash and cash equivalents stood at AUD 145 million, with zero net debt.

• Cash flow from operations rose to AUD 62.2 million, up AUD 50.2 million.

• Basic EPS rose 8.9% to 8.3 cents per share.

Outlook and guidance

• Diversified platform, strong balance sheet, and asset-light model position the company for further M&A and organic expansion.

• Management expects continued growth in the U.S. and APAC, with M&A as a key driver.

• Upward pricing pressure anticipated in the second half due to supply reductions and stable demand.