PWR Holdings Limited Reports Strong Financial Results for FY2024
PWR HOLDINGS LIMITED (PWH) Share Update August 2024 Thursday 15th
PWR Holdings Announces Strong Financial Performance for FY2024
PWR Holdings Limited (ASX: PWH) has released its financial results for the year ended 30 June 2024, showcasing significant growth in revenue and net profit.
Instant Summary:
- Revenue increased by 17.8% to $139.4 million.
- Net profit after tax rose by 14.0% to $24.8 million.
- EBITDA grew by 15.7% to $45.2 million.
- Declared a fully franked final dividend of 9.20 cents per share.
- Maintained a strong cash balance of $21.7 million.
Financial Performance
PWR Holdings Limited reported a revenue increase of 17.8% to $139.4 million for the year ended 30 June 2024, compared to $118.3 million in the previous year. This growth was driven by strong sales across various segments, including motorsports, automotive OEM, and aerospace and defence.
The company's net profit after tax rose by 14.0% to $24.8 million, up from $21.8 million in FY2023. EBITDA also saw a significant increase, growing by 15.7% to $45.2 million, with an EBITDA margin of 32.4%.
Dividend and Cash Flow
PWR Holdings declared a fully franked final dividend of 9.20 cents per share, bringing the total dividend for the year to 14.00 cents per share, a 12.0% increase from the previous year's dividend. The company maintained a strong cash balance of $21.7 million and remains debt-free.
Operational Highlights
The company continued to invest in research and development, spending $11.0 million on R&D activities in FY2024. PWR also expanded its manufacturing capacity and capabilities, including the planned installation of 1.7MW solar panels at its new Stapylton headquarters.
PWR's aerospace and defence segment showed remarkable growth, generating $21.0 million in revenue, a 100% increase from $10.5 million in the previous year. The company also secured a $985,000 Moon to Mars grant from the Australian Government to advance its Micro Matrix Heat Exchanger technology for space applications.
The strong financial performance of PWR Holdings is likely to positively impact its stock price as investors react to the significant revenue and profit growth. The increase in dividends and the company's debt-free status further enhance investor confidence.
Investor Reaction:
Analysts have positively received the financial results, highlighting the company's strong revenue growth and profitability. The significant increase in the aerospace and defence segment is seen as a key driver for future growth.
Conclusion:
Investors should continue to monitor PWR Holdings' strategic initiatives and growth in the aerospace and defence sector. The company's strong financial performance and commitment to innovation position it well for future success.