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Highlights
- Wagners is a diversified construction material company that produces and distributes construction materials
- In 1HFY24, WGN’s operating revenue jumped 20.4% to AUD 264.4 million
- John Wagner has the maximum stake in WGN with a shareholding of around 11.95%
Established in 1989 in Queensland, Wagners Holding Company Limited (ASX: WGN) is an ASX-listed company, which offers construction materials and services in the domestic and international markets.
In the first half of the financial year 2024 (1HFY24), the company witnessed 20.4% YoY rise in its operating revenue to AUD 264.4 million, backed by improved market conditions in cement, concrete, precast, bulk haulage (CMS), increased asset utilization, improvement in customer demand, and growth in composite fibre technologies (CCFT) poles and crossarm volumes in New Zealand and Australia.
During the reported period, operating EBITDA increased by 71.8% YoY to AUD 34.7 million and net profit after tax reached to AUD 2.8 million.
Top 10 shareholders of WGN
The top 10 shareholders of WGN have around 65.31% of the shareholding in the firm. The top two shareholders of the firm are Wagner (John) and Wagner (Denis), with a shareholding of 11.95% and 11.79%, respectively.
Recent business update
Through an ASX update dated 2 April 2024, the company notified that Wagners Holding Co Ltd has increased voting power in the company to 6.39% from 5.362%, as of 27 March 2024.
Outlook
The company expects market conditions in 2HFY24 to mirror conditions of 1HFY24 and EBIT is anticipated to be in line with 2HFY23. In FY24, operating EBIT of AUD 31-34 million is expected.
For the remainder of FY24, the CMS segment of WGN is anticipated to showcase growth, and cement volumes growth is expected to remain stable in 2HFY24.
The company expects to finalise the precast tunnel project in mid 2HFY24.
Share performance of WGN
WGN shares closed 3.529% lower at AUD 0.820 apiece on 21 May 2024 with a market cap of AUD 159.47 million. In the past one year, WGN’s share price has increased by 13.89%, while in the last nine months, it has declined by 11.35%.
The 52-week high of WGN is AUD 1.12, recorded on 7 September 2023 and the 52-week low is AUD 0.67, recorded on 25 May 2023.
WGN 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 21 May 2024. The reference data in this report has been partly sourced from EODHD/Others.
Disclaimer
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