DRA Global reports 1H24 results

FINANCIAL RESULTS

Focus on quality of earnings has delivered five consecutive halves of profitable performance

A$445M           

Revenue

A$424M 1H23

A$9.5M          

Statutory EBIT

A$26.8M 1H23

A$6.0M           

Statutory NPAT

A$19.4M 1H23

A$117.4M         

Net Cash1

A$127.7M on 31 Dec 2023

10 cents per share     

Basic EPS2

32 cents per share 1H23

A$30.3M       

Underlying EBIT3

A$23.5M 1H23

A$20.6M          

Underlying NPAT3

A$16.1M 1H23

0.5%       

Gearing4

7% at 31 Dec 2023

  1. Cash net of interest-bearing borrowings, other financial liabilities and lease liabilities.
  2. Earnings per share is a non-IFRS measure.
  3. Non-IFRS measure. A reconciliation is disclosed in the Appendix of the results presentation.
  4. Gearing is total borrowings (excluding lease liabilities) over equity. 

Consistent 1H24 Performance Achieved


Consistent Operating Performance

 


Steady, Sustainable Earnings


Cash position allows further degearing 

Statement from DRA Global CEO and MD, James Smith

 

 

“I am proud to report another consistent half of operational and financial performance at DRA. Statutory outcomes for 1H24 reflect the continued stability of our business, with our profitability and cash generation leaving us with a healthy net cash position at the end of the half. This follows the payment of the dividend with respect to FY23 and the repayment of all bank debt, effectively reducing our financial leverage to zero.

Our pipeline remains robust, with A$221 million in new contracts and extensions secured, diversified across 380 new projects. This provides us with more than A$678 million work in hand.

Our business remains well-positioned to continue delivering on our global strategic priorities, focusing on our core strengths of engineering, project delivery, and operations management.”

 

 

Results presentation

CONTACTS

Michael Vaughan
MEDIA QUERIES

michael.vaughan@fivemark.com.au

 

Andrew Prior
INVESTOR QUERIES

andrew.prior@fivemark.com.au

 

SHAREHOLDER ADMINISTRATION

Shareholders@draglobal.com