Highlights

  • Boom Logistics achieved revenue of AUD 70.7m in Q1 FY26, a 2% increase from Q1 FY25.
  • Net capital expenditure declined 76% to AUD 1.8m due to benefits from prior asset regeneration.
  • The ongoing share buyback and business improvements are expected to drive 15% EPS growth in FY26.

Boom Logistics Limited (ASX:BOL) released its trading update for the three months ended 30 September 2025 (Q1 FY26). The company reported revenue of AUD 70.7m, up 2% from AUD 69.3m in Q1 FY25. Cash at bank increased to AUD 19.2m from AUD 13.5m, while net debt rose slightly to AUD 96.0m from AUD 92.7m.

Capital expenditure during the quarter was AUD 3.9m, down AUD 4.7m from the prior corresponding period, reflecting the ongoing benefits of Boom’s asset regeneration program. Asset disposals rose 133% to AUD 2.1m, bringing net capital expenditure down 76% to AUD 1.8m.

Operational Updates
During Q1 FY26, Boom Logistics reported one Lost Time Injury (LTI). The investigation into the fatality at Clarke Creek Wind Farm on 2 July 2025 is ongoing, led by Workplace Health and Safety Queensland (WHSQ).

The company secured new contracts with combined estimated revenue of AUD 34m over the contract life. Key operational achievements included:

  • Expanded scope at the Snowy Hydro project with additional cranes deployed.
  • Two multi-year services agreements in Western Australia’s resources sector.
  • A new services contract in NSW in the renewables sector (transmission line project).

The tender pipeline remains active, with several projects in late-stage negotiations.

Management Commentary
Lester Fernandez, Interim CEO, said:

“During the quarter, we saw the benefit of prior period asset regeneration flowing through to lower capex and higher cash flows, which have underpinned our capital management efforts. Our strong customer relationships, scalable modern fleet, and growing project pipeline continue to position us as the preferred provider of lifting services across key national markets.

Demand for our services is driving increased tender activity across all core verticals including renewables, infrastructure, resources, and industrials. The pipeline of activity remains strong in wind construction, maintenance and transmission line expenditure expected to drive longer-term growth.”

Capital Management
Boom continued its on-market share buyback, acquiring approximately 0.5m shares valued at AUD 0.7m during the quarter. The company expects these initiatives, along with ongoing business improvements, to support 15% earnings per share growth in FY26.

Board and Leadership Updates
Searches for a new CEO, CFO, and Non-Executive Director are underway. Kieran Pryke, Board Chair, is taking a more active role until appointments are finalized. Recent board committee changes include Damian Banks replacing Pryke as Audit and Risk Committee Chair, and James Scott replacing Banks as Nomination and Remuneration Committee Chair.

Boom has recovered AUD 579,903 from former CEO Ben Pieyre to date, with the total amount considered for recovery now AUD 1,142,748. Further updates will be provided as recoveries are finalized.

Share Performance

The company is currently trading at AUD 1.425 per share, up by 3.63% from its previous close of AUD 1.375.