Wagners Holding Company (WGN) Trading update summary

Trading performance

• Robust demand for cement, concrete and quarry products as South-East Queensland projects moved from planning to delivery; wet-weather volume impacts late in October eased as conditions improved.

• Caboolture concrete plant construction completed and commissioning is in its final stages; three more sites secured for planning and approval to support expected South-East Queensland infrastructure demand.

• Composite Fibre Technologies order activity strong, led by cross arms and utility poles for Australian and New Zealand electricity networks; poles dispatched to Northern Ireland and shortlisted for a Republic of Ireland long-term panel.

Project Services award

• Letter of Intent from the JGC-Hyundai joint venture for aggregates and concrete supply to the PNG LNG project; scope valued at US$50m–US$55m over 2.5 years, subject to a Financial Investment Decision expected mid-December 2026.

• Mobilisation expected early 2027, aggregate supply in April 2027 and concrete supply from mid-2028.

Outlook and guidance

• Outlook positive, with strong demand across key markets, solid pipeline opportunities and each segment performing well.

• Higher clinker and shipping costs could affect H2 FY27 earnings by up to $5m; seasonal volume reductions in H2 versus H1 could impact earnings by up to $3m.

• EBIT guidance: H1 FY27 $40m–$42m; FY27 $72m–$76m, assuming current market conditions and incorporating anticipated shipping and clinker costs and H2 volume seasonality.