AUS
NZ
UK
CA
USA
IND
Highlights
- In FY24, ACF’s revenue from continuing operations rose 28.90% YoY to AUD 193.11 million, driven by organic growth.
- Pipeline of opportunities reached AUD 198 million as of 31 October 2024, up 39% YoY.
- Dividend of AUD 0.03 per share to be distributed on 29 November 2024.
Acrow Limited (ASX:ACF) offers smart integrated construction systems across industrial services, formwork, and commercial scaffolding in Australia.
In the financial year 2024 (FY24), revenue from continuing operations increased by 28.90% YoY to AUD 193.11 million, driven by organic growth, with the industrial services division recording a rise of 78% YoY and the Formwork division witnessing a growth of 19% YoY. Meanwhile, in FY24, EBITDA increased by 40% YoY to AUD 74.6 million and reported NPAT jumped 8.95% YoY to AUD 25.56 million.
During the reported period, the company continued to report a record-breaking and expanding pipeline of opportunities, reaching AUD 198 million as of 31 October 2024, marking a rise of 39% YoY.
Latest Dividend Announcement
On 18 November 2024, the company shared an update on dividend distribution, confirming that a dividend of AUD 0.03 per share will be distributed on 29 November 2024. The record date was 31 October 2024, and the ex-date was 30 October 2024.
Outlook
In 1HFY25, the company expects revenue to grow by nearly 26% to AUD 125–130 million, with EBITDA experiencing an 11% YoY growth to AUD 38.5–39.5 million.
In FY25, revenue and EBITDA growth are expected on the back of a record order pipeline of AUD 189 million, a full year’s contribution from the Benchmark Scaffold and MI Scaffold acquisitions, record secured hire contract wins of AUD 78.3 million, and revenue from the FY24 capital expenditure program.
Share Performance of ACF
ACF shares closed 0.467% lower at AUD 1.065 apiece on 22 November 2024, with a market cap of AUD 326.19 million. In the past year, ACF’s share price increased by almost 16.30%, although it recorded a drop of 6.96% in the past six months.
52-week high of ACF is AUD 1.345, recorded on 4 March 2024, and 52-week low is AUD 0.885, recorded on 22 November 2023.
ACF Daily Technical Chart, Source: EODHD/Others
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 22 November 2024. The reference data in this report has been partly sourced from EODHD/Others.
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