Wagners FY25 Revenue Hits $431M with 19% Growth in Construction Materials

Strong Core Business Drives Revenue and Profit Growth

Wagners Holding Company Limited has delivered a robust financial performance for the fiscal year ending June 2025, reporting total revenue of $431.3 million. This result was underpinned by a 19% surge in its core Construction Materials segment, which reached $257 million in revenue, reflecting both improved pricing and volume. The Composite Fibre Technologies (CFT) division also contributed positively with a 15% revenue increase to $68.4 million, driven by strong demand for power poles and crossarms in Australia and New Zealand.

Despite a 49% decline in Project Services revenue following the completion of a major precast tunnel project in FY24, Wagners managed to grow its operating earnings before interest and tax (EBIT) by 9% to $41.8 million. This was supported by enhanced operating leverage and efficiency gains across its businesses.

Profitability and Cash Flow Strengthen Balance Sheet

Net profit after tax more than doubled to $22.7 million, benefiting from improved operating margins and the absence of non-operating impairments that had weighed on the prior year. The company’s disciplined cash flow management enabled a 29% reduction in net debt to $34 million, even as it invested $15 million in land acquisitions for three new concrete plant sites. These strategic investments are aimed at expanding capacity to meet anticipated demand growth.

Wagners’ Construction Materials segment showed particular strength, with EBIT margins improving to 15.4% from 14.7% the previous year. Cement volumes remained stable, while concrete volumes surged 65%, supported by the expansion of the South-East Queensland plant network. Quarry operations also posted solid gains, with revenue up 30% and EBIT up 46%, reflecting prior capital investments and operational efficiencies.

Composite Fibre Technologies and Project Services Outlook

The CFT business improved earnings notably, with margins boosted by higher-margin custom build projects and manufacturing efficiencies in Australia, New Zealand, and the USA. While the US operations reduced losses from $4 million to $1 million, further revenue growth is needed to reach breakeven. Project Services revenue declined due to the cyclical nature of large infrastructure projects, with no major new projects scheduled for FY26, although bulk haulage maintained consistent EBIT despite lower revenue.

Positive FY26 Outlook Supported by Infrastructure and Housing Growth

Looking ahead, Wagners anticipates market growth driven by Olympic infrastructure projects and strong residential construction in South-East Queensland. The company plans to complete construction of two new concrete plants in calendar year 2025 and expand its quarry capacity. Increased demand for composite fibre products is expected from utility networks in Australia, New Zealand, and the USA, with ongoing margin improvements from operational efficiencies.

Capital expenditure is set to rise in FY26 to support these growth initiatives, including upgrades at the Pinkenba cement plant and additional capacity in the CFT business. Wagners’ vertically integrated model and strategic asset base position it well to capitalise on infrastructure and resources sector growth domestically and internationally.