Latest Close The Loop (Asx:Clg) News

Close the Loop Limited reports stronger Q1 FY26 revenue and EBITDA, boosted by strategic asset sales and operational improvements, while navigating key board and CFO departures.

Close the Loop Limited reported a challenging FY25 with significant declines in earnings and cash flow, driven by shifts in its IT asset disposition business. The company has responded with new leadership appointments and a strategic five-pillar plan aimed at restoring growth and operational efficiency in FY26.

Close the Loop Limited reported a 7% decline in revenue to $195.1 million for FY25, alongside a significant net loss increase to $21.9 million, driven by operational challenges and one-off costs. The company is navigating leadership changes and portfolio adjustments while maintaining a focus on sustainability and circular economy growth.

Close the Loop Limited announces a strategic leadership overhaul with new CEOs appointed for North America and Australia, alongside a streamlined operational focus on three core business units.

Close the Loop Limited reports a robust cash position exceeding A$30 million and appoints Matthew Zimmer as CEO for North American operations, setting the stage for anticipated revenue and EBITDA growth in FY26.

Close the Loop Limited reports steady revenue but a sharp 50% drop in EBITDA for the second half of FY25, driven by operational challenges in North America. A leadership change and strategic shifts aim to stabilise growth.

Close the Loop Limited has ended acquisition discussions with Adamantem Capital but remains confident in its standalone growth strategy, projecting steady revenue and an EBITDA range of $11m-$13m for the first half of 2025.

Close the Loop Limited has concluded its exclusivity period with Adamantem Capital without signing binding transaction documents, leaving the potential acquisition uncertain. Shareholders are advised to await further updates as discussions remain open but no deal is confirmed.