Codan Ltd (ASX:CDA)
A$ 20.58 +0.29 (+1.43%) Market Cap: 3.74 Bil Enterprise Value: 3.91 Bil PE Ratio: 41.91 PB Ratio: 7.51 GF Score: 84/100
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Half Year 2025 Codan Ltd Earnings Call Transcript

Feb 20, 2025 / 12:00 AM GMT
Release Date Price: A$16.16 (-5.50%)

Key Points

Positve
  • Codan Ltd (ASX:CDA) reported a 15% increase in revenue to approximately $306 million for the first half of FY25.
  • The communications segment was a key driver, with a 22% revenue increase, exceeding the 10-15% growth target.
  • The company declared a fully franked interim dividend of 12.05 cents per share.
  • Codan Ltd (ASX:CDA) has maintained a net debt to EBITDA ratio of less than 1, showcasing financial discipline.
  • The acquisition of CagWorks is expected to generate $49 million to $57 million in revenue and $8 million to $11 million in EBITDA in the first 12 months of ownership.
Negative
  • Net debt increased by $48 million to $124 million at the end of December, partly due to acquisitions.
  • The metal detection business only grew revenues by 5%, which is lower compared to the communications segment.
  • The Countermine division experienced a decline due to the absence of large humanitarian orders that were present in the previous year.
  • Expenses increased due to the integration of acquisitions, with $2 million incurred in integration and acquisition expenses.
  • The geopolitical situation in Ukraine presents uncertainty, although current sales are not reliant on US funding.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CDA.AX - Codan Ltd
Half Year 2025 Codan Ltd Earnings Call
Feb 21, 2025 / 12:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning everyone and welcome to Kodan's first half FY25 results webinar. My name's SAM Wells from NWR and joining me from Codan today is managing director and CEO Alf Ianello, as well as CFO and company secretary Michael Barton.

Following a brief summary of the results released to the ASX this morning, investors and research analysts will have an opportunity to ask questions. There will be a choice of two options. First, you can submit a written question via the Q&A function at the bottom of your screen. Alternatively, research analysts may raise your hand via Zoom, if you wish to ask a verbal question.

We kindly ask that you limit your questions to 2 per person, and we will endeavor to get to the majority of questions
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