Lindsay Australia (ASX:LAU) Posts Nearly 19% Revenue Growth Despite Profit Decline in FY24

Mon 20 Jan 25, 05:24 AM | Team Kalkine

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Highlights

Lindsay Australia achieved an 18.9% YoY revenue growth in FY24, reaching AUD 804.37 million.

In FY24, LAU’s EBITDA jumped 5.5% YoY to AUD 106.90 million, however, net profit after tax declined by 21% to AUD 27.27 million.

The company outperformed the industry with a gross margin of 75.5% in FY24, far exceeding the industry median of 39.8%.

Lindsay Australia Limited (ASX:LAU) is an ASX-listed company that is engaged in integrated transport, logistics, and rural supply services. For the financial year ending 30 June 2024 (FY24), LAU achieved revenue growth of 18.9% YoY to AUD 804.37 million, driven by higher sales in freight services and goods. During the reported period, earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 5.5% YoY to AUD 106.90 million.

However, reported net profit after tax declined by 21% YoY in FY24 to AUD 27.27 million. This marks a decrease in net profit from AUD 34.52 million in FY23. The company faces pressure from a reduced net margin of 3.3% in FY24, compared to 5.1% in FY23.

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