PWR Holdings Achieves Record Financial Performance in FY2024
PWR HOLDINGS LIMITED (PWH) Share Update August 2024 Thursday 15th
PWR Holdings Reports Record Revenue and Profit for FY2024
PWR Holdings Limited (ASX: PWH) has reported a record Net Profit After Tax (NPAT) of $24.8 million for the year ended 30 June 2024, showcasing significant growth across all key markets and geographies.
Instant Summary:
- Record NPAT of $24.8 million, up 14.0% from FY2023.
- Revenue growth of 17.8%, reaching $139.4 million.
- EBITDA increased by 15.7% to $45.2 million.
- Declared fully franked final dividend of 9.20 cents per share.
- Total full year dividend increased by 12.0% to 14.00 cents per share.
- Significant growth in emerging technologies revenue by 57.8%, particularly in aerospace and defense.
Financial Performance
PWR Holdings Limited (ASX: PWH) has achieved a record financial performance for the fiscal year 2024, reporting a Net Profit After Tax (NPAT) of $24.8 million, an increase of 14.0% compared to the previous year. The company's revenue grew by 17.8%, reaching $139.4 million, while EBITDA rose by 15.7% to $45.2 million.
The company declared a fully franked final dividend of 9.20 cents per share, bringing the total full year dividend to 14.00 cents per share, a 12.0% increase from the previous year. This reflects a dividend payout ratio of 57% of NPAT.
Revenue Growth
PWR experienced revenue growth across all key markets, with notable increases in Australia (14.7%), the United States (10.6%), and the United Kingdom (8.9%). Emerging technologies, including aerospace and defense, saw a remarkable 57.8% growth, now representing 25.1% of the Group's revenue.
Investment in Aerospace and Defense
The rapid increase in aerospace and defense revenue, from $0.6 million in FY2020 to over $21.0 million in FY2024, underscores PWR's confidence in this sector. The company has added 67 new roles, with 21 positions filled ahead of the curve to prepare for future growth opportunities.
New Headquarters and Future Plans
PWR's new headquarters in Stapylton will significantly expand factory space and manufacturing capacity. The move, supported by the Queensland Government, is expected to be completed by November 2025. The company is also investing in new equipment and an enterprise-grade ERP system to enhance production efficiency and global coordination.
PWR Holdings' record financial performance and strategic investments are likely to positively impact the company's stock price. The significant growth in revenue and profit, along with the increased dividend payout, will likely boost investor confidence. The expansion into aerospace and defense, coupled with the new headquarters, positions PWR for sustained long-term growth.
Investor Reaction:
Analysts are expected to react positively to PWR Holdings' strong financial results and strategic investments. The company's focus on emerging technologies and expansion into new markets is likely to be seen as a positive indicator of future growth potential. However, the near-term impact on margins due to investments may be a point of consideration for some investors.
Conclusion:
Investors should consider PWR Holdings' impressive financial performance and strategic initiatives as strong indicators of future growth. The company's investments in new technologies and expansion plans position it well for sustained success. Staying informed about PWR's developments will be crucial for making informed investment decisions.