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Highlights

  • Net Profit in FY24 increased by 229% YoY to AUD 10.3 million.
  • Core product volumes are expected to see sustained growth through FY25.
  • Several long-term supply contracts have been secured.
  • WGN shares closed 5.70% higher at AUD 1.02 on 15 October 2024.

Incorporated in 1989 in Queensland, Wagners Holding Company Limited (ASX:WGN) offers construction materials and services in Australia and international markets. Supported by its core construction materials and services (CMS) business, the company recorded revenue of AUD 481.4 million in the financial year 2024 (FY24), consistent with FY23.

During the reported period, net profit after tax increased by over 229% YoY to AUD 10.3 million and operating EBIT jumped 81% YoY to AUD 39.7 million, surpassing the upper end of the guidance range.

In fourth quarter of FY24, the company witnessed significant trading conditions and expects the same to continue in FY25.

Outlook

Wagners is optimistic about sustained growth in its core product volumes through FY25 and beyond. Further, there is ongoing demand for innovative new products which will assist in reducing construction costs, improving sustainability and enhancing energy efficiency.

WGN boasts an ongoing forward order book across all segments and has secured several contracts for long-term material supply and projects.

In FY25, demand for construction materials is anticipated to remain on track, while concrete volumes are expected to increase as current and new plants reach maturity. One site is in initial development phase and two additional sites are under approval process.  

Share performance of WGN

WGN shares closed 5.70% higher at AUD 1.020 apiece on 15 October 2024 with a market cap of AUD 181.59 million. In the last three months, WGN’s share price has increased by almost 35.10% and in the past one month, it has increased by 13.33%.

52-week high of WGN is AUD 1.05, recorded on 27 December 2024, and 52-week low is AUD 0.705, recorded on 15 July 2024.

WGN Daily Technical Chart, Source: REFINITIV

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 15 October 2024. The reference data in this report has been partly sourced from REFINITIV.