Capral (CAA) H2 2025 earnings summary

Executive summary

• Delivered strong full-year results in 2025, with earnings ahead of last year and in line with guidance, despite challenging market conditions and inflationary pressures.

• Maintained robust earnings and margins through effective cost management and improved sales mix, even as volumes declined 4% year-over-year.

• Continued strategic focus on distribution growth, operational efficiency, and capital management.

• Industrial demand softened and residential demand remained subdued, with recovery expected in the second half of 2026.

Financial highlights

• Sales revenue just under AUD 690 million, up 6% year-over-year, driven by higher LME prices and improved sales mix.

• Underlying EBIT increased 4% to AUD 35.8 million; underlying EBITDA up 2% to AUD 59.6 million.

• Statutory net profit after tax was AUD 35.6 million, boosted by a AUD 3 million insurance claim and AUD 2.5 million tax benefit.

• Earnings per share rose 14% to AUD 2.15; underlying EPS up 19% to AUD 2.00.

• Net cash position just over AUD 60 million at year-end; NTA per share increased 13% to AUD 12.72.

Outlook and guidance

• Expecting stronger demand and volume recovery in the second half of 2026, particularly from the residential sector.

• First half 2026 earnings anticipated to be in line with prior period; full-year earnings expected to finish slightly above 2025.

• Continued focus on productivity, cost control, and disciplined capital expenditure.

• LME prices anticipated to stay volatile but elevated.