Redox Limited (ASX:RDX): What Drove FY26 Revenue and Profit Growth?

Aditi Sarkar

27 October 2026 06:56 PM AEDT

Redox Limited (ASX:RDX): What Drove FY26 Revenue and Profit Growth?

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Highlights

Redox Limited (ASX:RDX) recorded FY26 revenue of AUD 1.33bn, up 6.9% YoY.
Gross profit rose 11.0% YoY to AUD 298mn, with the margin reaching 22.4%.
Underlying EBITDAFX increased 9.9% YoY to AUD 134mn; statutory NPAT rose to AUD 92mn.
North American revenue advanced 33.8% YoY and FY26 operating cash flow totalled AUD 88mn.

Redox Limited distributes chemicals, ingredients and raw materials to customers in industrial, food, agricultural and other markets across Australia and overseas. Its FY26 accounts showed increased sales, margins and cash generation, with regional outcomes differing between North America and New Zealand. Against this operating backdrop, Redox Limited (ASX:RDX) shares closed at AUD 3.55 after the trading session ended on 27 October 2026, up approximately 0.28% from the previous close. The company has also completed its October annual general meeting and a transition in board leadership.

Company Business

Redox Limited (ASX:RDX) sources and distributes products used in food and beverages, crop production, animal health and nutrition, water treatment, personal care, plastics, coatings and general industrial processes. Its business connects manufacturers and suppliers with customers that require local inventory, product specifications, delivery coordination and technical support.

The group operates predominantly in Australia, with additional activities in New Zealand, North America and other markets. Its supplier relationships, warehousing locations and internally developed Redebiz business system support purchasing, inventory management and customer servicing. Financial performance depends on product volumes, selling prices, mix, sourcing costs and operating expenses across these markets.

Recent Development

In August 2026, Redox Limited (ASX:RDX) reported its FY26 results for the year ended 30 June 2026. Management identified organic growth, supplemented by acquired business, as the principal revenue driver. Australian sales rose 6.1% to AUD 1.12bn, while North American sales increased 33.8% to AUD 100mn. New Zealand revenue declined 4.0% to AUD 100mn, reflecting weaker demand from human-health customers.

The company reported that the acquired Molekulis business had been integrated into its Redebiz platform and contributed to Asia-Pacific sales activity. North American operations added 47 active products and expanded customer relationships across industrial, food, human-health and personal-care markets. These developments occurred amid changes in product availability, freight conditions and input costs.

Following its October 2026 annual general meeting, Mary Verschuer succeeded Ian Campbell as chair. The governance transition followed the company’s previously announced succession process, while Sheila Lines joined the board in September.

Financial Performance and Sector Context

Redox Limited (ASX:RDX) generated FY26 revenue of AUD 1,330mn, compared with AUD 1,244mn in FY25, representing 6.9% YoY growth. Gross profit increased to AUD 298mn from AUD 269mn, while gross margin improved to 22.4% from 21.6%. The company attributed margin improvement to changes in product mix in Asia-Pacific and a higher margin profile in North America.

Underlying EBITDAFX increased from AUD 122mn in FY25 to AUD 134mn in FY26, a rise of 9.9% YoY, while statutory NPAT advanced 19.2% to AUD 92mn from approximately AUD 77mn. The company defines EBITDAFX to exclude specified unrealised currency-revaluation effects, making it distinct from statutory earnings.

Operating cash flow increased to AUD 88mn from AUD 48mn, and the reported free-cash-flow conversion measure improved to 62.5% from 40.7%. Net working capital stood at AUD 417mn, versus AUD 407mn a year earlier, but fell as a share of revenue to 31.4% from 32.7%. Cash and cash equivalents were approximately AUD 123mn at the FY26 year-end.

The board declared a FY26 final dividend of AUD 0.065 per share, bringing full-year dividends to AUD 0.13 per share, compared with AUD 0.125 in FY25. Chemical distribution conditions remain sensitive to manufacturing demand, exchange rates, supply disruptions, transport costs and the availability of stock.

Risks to Consider

Redox Limited (ASX:RDX) faces changes in customer purchasing volumes, product prices and regional market demand. International sourcing exposes the group to shipping delays, foreign-exchange movements and supplier disruptions. Its inventory-intensive model requires working capital, while wage, storage and distribution costs can affect operating margins. Acquisition integration and expansion into new customer segments create additional execution requirements.

What to Watch Next

Future disclosures from Redox Limited (ASX:RDX) will indicate whether North American sales expansion continues, whether New Zealand demand stabilises and how product mix affects gross margins. Investors may also monitor inventory and receivables, cash conversion, transport expenses and integration outcomes. The next half-year results will provide a comparison of earnings and working-capital movements against the FY26 base.

Key Insights

Redox Limited (ASX:RDX) delivered higher FY26 revenue, gross profit, underlying EBITDAFX and statutory NPAT, alongside improved operating cash inflow. Australia accounted for most reported sales, while North American growth contrasted with a decline in New Zealand. Future earnings disclosures will clarify how demand patterns, distribution expenses and working capital influence financial performance.

FAQs

Q: What does Redox Limited distribute?

A: Chemicals, ingredients and raw materials for industrial, agricultural, food and other markets.

Q: What was Redox Limited’s FY26 revenue?

A: Revenue reached AUD 1,330mn, up 6.9% YoY.

Q: How did FY26 gross margin change?

A: Gross margin increased to 22.4% from 21.6% in FY25.

Q: What was Redox Limited’s FY26 statutory profit?

A: Statutory NPAT rose 19.2% YoY to AUD 92mn.

Q: How did North American sales perform?

A: Revenue increased 33.8% YoY to approximately AUD 100mn in FY26.

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