Brickworks Limited (ASX:BKW) Increases Interim Dividend and Reports Strong Earnings Growth
Financial Performance
Brickworks Limited reported a Statutory NPAT of $21 million for the half year ended 31 January 2025, marking a 141% increase. Underlying NPAT before significant items surged by 308% to $76 million. Total revenue slightly decreased by 6% to $516 million, while Underlying EBITDA rose by 472% to $148 million.
Dividend Declaration
The company declared a fully franked interim dividend of 25 cents per share, an increase of 1 cent from the previous period. The record date for the interim dividend is 9 April 2025, with payment scheduled for 1 May 2025.
Property and Investments
The market value of listed investments decreased by 4% to $3.26 billion. Underlying Property EBITDA excluding revaluations was $38 million, down 32% reflecting lower development profits recorded within the Industrial JV Property Trust. Rental income within the Property Trust portfolio increased by 8% to $88 million. The company holds significant stakes in Washington H. Soul Pattinson & Company Limited and FBR Limited, contributing to stable earnings and dividends.
Executive Comments
Chief Executive Officer, Mr Mark Ellenor, stated, “We managed to hold our EBITDA margins by implementing price increases, cost controls and productivity improvements across operations, but the market remains challenging. The result was impacted by historically low residential commencements particularly in our key markets in Victoria and New South Wales during the half.”
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks. The Motley Fool Australia has positions in and has recommended Brickworks. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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