AUS
NZ
UK
CA
USA
IND
Highlights
- Wagners is an Australia based construction materials and services provider
- In 1HFY24, operating EBIT of WGN jumped 214.9% YoY to AUD 21.1 million
- Wagner (John) has the highest stake in the firm with a shareholding of 11.95%
Wagners Holding Company Limited (ASX:WGN) is an ASX-listed company which provides construction materials and services. Established in 1989 in Queensland, the company has operations in the Australian and international markets.
In the first half of the financial year 2024 (1HFY24), WGN’s gross profit increased by 22.9% YoY to AUD 137.8 million, operating EBIT grew by 214.9% YoY to AUD 21.1 million and cash flow from operations went up by 269.4% YoY to AUD 44.7 million.
During the reported period, the Construction Materials and Services (CMS) sector showed positive trading conditions on the back of the improved performance in Composite Fibre Technologies (CFT), and significant fall in capital and operational expenditures from Earth Friendly Concrete (EFC). Margin expansions in 1HFY24 were driven by effective cost-control initiatives and enhanced pricing.
Top 10 shareholders of WGN
The top 10 shareholders of WGN have around 65.31% shareholding in the company, while the top four have 46.81% of the shareholding. The highest stake in the firm is held by Wagner (John) with a shareholding of 11.95%, followed by Wagner (Denis) with shareholding 11.79%.
Outlook
In 2HFY24, the company expects market conditions to remain same as in 1HFY24 and EBIT is expected to be at par with the 2HFY23. In FY24, the company expects its EBIT to fall in the range of AUD 31-34 million.
Cement volumes which increased in the first half, are expected to show steady growth in the second half. Better pricing and cost-saving measures are expected to enhance margins in cement and concrete.
Share performance of WGN
WGN shares closed 2.41% lower at AUD 0.810 apiece on 9 July 2024. WGN’s share price surged by 4.52% in the past one year and has dropped by 16.49%, in the last three months.
The 52-week high of WGN is AUD 1.12, recorded on 7 September 2023, and the 52-week low is AUD 0.745, recorded on 18 June 2024.
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 08 July 2024. The reference data in this report has been partly sourced from EODHD/Others.
Disclaimer
This article has been prepared by Kalkine Media, echoed on the website kalkinemedia.com/au and associated pages, based on the information obtained and collated from the subscription reports prepared by Kalkine Pty. Ltd. [ABN 34 154 808 312; AFSL no. 425376] on Kalkine.com.au (and associated pages). The principal purpose of the content is to provide factual information only for educational purposes. None of the content in this article, including any news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video is or is intended to be, advisory in nature. The content does not contain or imply any recommendation or opinion intended to influence your financial decisions, including but not limited to, in respect of any particular security, transaction, or investment strategy, and must not be relied upon by you as such. The content is provided without any express or implied warranties of any kind. Kalkine Media, and its related bodies corporate, agents, and employees (Kalkine Group) cannot and do not warrant the accuracy, completeness, timeliness, merchantability, or fitness for a particular purpose of the content or the website, and to the extent permitted by law, Kalkine Group hereby disclaims any and all such express or implied warranties. Kalkine Group shall NOT be held liable for any investment or trading losses you may incur by using the information shared on our website.
