Wagners Holding Company (WGN) Investor Presentation summary

Capital raising and use of funds

• Announced an institutional placement to raise approximately A$30 million by issuing 11.54 million new shares at $2.60 each, representing a 2.3% discount to the last traded price and premiums to recent VWAPs.

• Proceeds will be used to repay existing debt, expand CFT pole manufacturing ($12m), increase construction materials capacity ($17m), and cover offer costs.

• New shares will rank equally with existing shares; Morgans Corporate Limited and Unified Capital Partners are joint lead managers.

• Pro forma balance sheet shows a reduction in net debt and an increase in total equity to $183.3 million post-offer.

• Allotment and trading of new shares scheduled for 12 September 2025.

FY25 financial and operational performance

• Total revenue was $431.3 million, with gross margin improving to 32.4% and operating EBIT margin rising to 9.7% from 8.0% in FY24.

• Net profit before tax increased to $32.6 million, up from $16.8 million in FY24.

• Construction Materials revenue grew 19% to $257 million, with EBIT up $7.9 million and margin at 15.4%.

• CFT revenues rose 15%, driven by demand in Australia, New Zealand, and improved US performance; EBIT in ANZ more than doubled.

• Project Services revenue fell 49% due to project completion, but bulk haulage maintained EBIT margin despite lower revenue.

Balance sheet and cash flow

• Net working capital decreased by $12.4 million, mainly due to improved collections and reduced receivables.

• Net debt reduced by $13.6 million to $34.0 million, aided by improved operating results and working capital release.

• EBITDA cash conversion was 84%; capex of $36.6 million included $15 million for land and $3.8 million for new concrete plants.