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Highlights:
- Brickworks shared its FY22 audited financial results on ASX today.
- The company’s statutory NPAT rose 257%, and EBITDA gained 133% in the given period.
- Also, the firm announced a final dividend of 41 cents per share.
Building products business Brickworks Limited (ASX:BKW) announced its fully audited results featuring its financial performance in FY22 on ASX today. As per the update, Brickworks’ statutory Net Profit After Tax (NPAT) gained 257% and Earnings before interest, tax and depreciation (EBITDA) gained 133% in FY22, as compared to the previous corresponding period.
Furthermore, Brickworks reported an 81% gain in EBIT from investments in FY22 compared to the previous corresponding period.
Meanwhile, the shares of Brickworks were spotted trading 0.391% higher at AU$21.775 per share as of 11:04 AM AEST on ASX today (21 September 2022).
Details of Brickworks’ FY22 results:
Brickworks delivered a statutory Net Profit After Tax (NPAT) of AU$854 million in FY22 ended on 31 July 2022 (FY22), up 257% from the prior year.
The company’s underlying NPAT from continuing operations, excluding significant items and discontinued operations, in FY22 was AU$746 million, up by 159% from the previous corresponding period.
Brickworks also reported a gain of 133% to AU$1,058 million in its underlying earnings before interest, tax and depreciation (EBITDA) from continuing operations compared to the prior corresponding period. Furthermore, the company’s EBIT stood at AU$982 million after depreciation, up 154% from the previous corresponding period.
Brickworks believes that the earnings contribution from the property was a standout in FY22. The company claimed to experience a strong uplift in valuations of its portfolio of industrial properties in Western Sydney and Brisbane, driven by high demand for prime logistics and warehouse space. Additionally, Brickworks’ strong development activity contributed to the property result.
As per the company’s update, its earnings across building products operations in Australia and the United States were also higher during this period, driven by the contribution from Brickworks’ investment in Washington H Soul Pattinson (ASX:SOL).
Brickworks’ dividend distribution plan:
Brickworks’ board of directors determined to pay a fully franked final dividend worth 41 Australian cents per share to its eligible shareholders on 23 November 2022, based on the earnings in FY22. This represents a gain in dividend by 1 Australian cent per share compared to the previous corresponding period. Therefore, it sums up to a full-year dividend of 63 Australian cents per share in FY22. The record date for this dividend is 2 November 2022.
