Highlights

  • FY26 Revenue was A$155.5 million, underlying EBITDA was A$19.5 million and statutory net profit after tax was A$6.5 million.
  • Heat Transfer Solutions generated A$91.9 million of revenue and A$15.0 million of underlying EBITDA in FY26.
  • Adrad declared a 2.56-cent fully franked final dividend, with payment scheduled for 21 October 2026.

Adrad Holdings Limited (ASX:AHL) enters September 2026 with its FY26 result centred on improved profitability, cash generation and performance in the Heat Transfer Solutions segment. Group revenue was A$155.5 million, underlying EBITDA was A$19.5 million and statutory net profit after tax was A$6.5 million.

The company also declared a 2.56-cent fully franked final dividend. The ex-dividend date is 18 September 2026, the Record Date is 21 September 2026 and payment is scheduled for 21 October 2026.

Company Overview

Adrad Holdings Limited (ASX:AHL) operates through two principal segments. Heat Transfer Solutions designs and manufactures cooling products for industrial applications, while Distribution supplies automotive cooling, air-conditioning and service components through a national network.

The industrial Business serves end markets including mining, power generation and data centres, while the distribution operation is more closely linked to automotive aftermarket activity and workshop demand.

Financial and Operational Position

FY26 revenue from continuing operations was A$155.5 million. Underlying EBITDA was A$19.5 million, statutory EBITDA was A$17.8 million, underlying net profit after tax was A$7.9 million and statutory net profit after tax was A$6.5 million.

Heat Transfer Solutions recorded A$91.9 million of revenue and A$15.0 million of underlying EBITDA. Distribution recorded A$63.3 million of revenue and A$4.8 million of underlying EBITDA.

Operating cash flow was A$17.9 million. At year end, Adrad held A$24.5 million of cash and A$0.4 million of borrowings. Net Assets were A$128.7 million and Capital Expenditure for FY26 was A$5.2 million.

What Investors May Watch Next

Management has identified data centres, power generation and Mining as important end markets for Heat Transfer Solutions. Investors may monitor whether project Demand in these areas converts into revenue and whether additional production capacity supports delivery.

The Distribution segment remains another key area to watch, particularly Margin performance and automotive aftermarket demand. The first-half FY27 result will provide the next detailed financial read-through on the balance between the two segments.

Risks

Adrad is exposed to changes in industrial project timing, automotive aftermarket demand and input costs for materials such as steel, aluminium and copper. Manufacturing activity also carries energy, freight and execution risk. In Distribution, competitive pricing and softer demand can pressure margins, while large industrial orders can be uneven across reporting periods.

Key Takeaways

Adrad Holdings Limited (ASX:AHL) finished FY26 with positive operating cash flow, low borrowings and most of its underlying EBITDA generated by Heat Transfer Solutions. The next question is whether industrial demand can support further Earnings contribution while the Distribution segment stabilises. The company's FY27 updates will provide the clearest evidence on that operating mix.