Half Year 2026 Lindsay Australia Ltd Earnings Call Transcript
Key Points
- Lindsay Australia Ltd (ASX:LAU) reported a 24.8% increase in group revenue to $540 million, driven by acquisitions and core growth across all divisions.
- The company achieved a 30% reduction in lost time injuries, reflecting improvements in safety and operational systems.
- The acquisition of SRT has been successfully integrated, contributing to strong on-island growth and double-digit EPS growth.
- Investments in high productivity vehicle solutions have improved revenue per kilometer and asset utilization.
- The company has expanded its network into Tasmania and southwest WA, enhancing its geographic diversification and reducing risk.
- The road transport market remains highly competitive due to an oversupply of capacity, which is expected to persist for the next 12 months.
- Despite revenue growth, underlying NPAT remained flat at $15.8 million, impacted by high depreciation and elevated interest rates.
- The company's net leverage has increased due to significant investments, although it is expected to normalize over the next 12 months.
- Operating cash flow conversion was lower in the first half, although it is expected to improve in the second half.
- The issuance of 46.5 million shares for the SRT acquisition diluted EPS in the first reporting period.
Thank you and good morning, thanks for joining us for the Lindsay Australia's half year 2026 results presentation.
Clay McDonald, CEO of Lindsay Australia, and I'm joined today by our CFO Justin Green.
Before we begin, I'd like to acknowledge the traditional owners of the land on which we meet today and pay my respects to the elders past, present, and emerging.
At the first half of financial year 2026.
Lindsay has continued to focus on successfully executing its multi-year strategy centered on strategic growth, transformation, and building a more sustainable, scalable and performance-based business.
Extremely pleased with the progress we have made across all three pillars.
And how this positions us for both the current cycle and the longer-term.
We've expanded the network into Tasmania and southwest WA connecting into regions where volume is exceeding national averages and further balancing our portfolio towards lower risk and countercyclical regions.
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