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Wagners Fy 2018 Results - Aug 22 2018

Construction materials and services provider, Wagners Holding Company Limited (ASX:WGN) today released its results for the financial year ending 30 June 2018.

Financial Highlights

• Proforma revenue of $231.5 million – increase of 20.2% on the prior financial year
• Proforma EBITDA growth of 25.4% to $50.3 million
• Proforma NPAT growth of 50.7% to $23.2 million
• Statutory NPAT of $24.8 million, growth of 30.4%
• Final dividend fully franked of 3.5 cents per share declared

Operational Highlights and Initiatives

• Strong growth in cement volumes – 14.8% increase on FY17.
• Establishment of the Wellcamp Quarry and acquisition of a greenfield quarry site to service the South East Queensland market and an operational quarry in the North West Queensland mineral province.
• Commencement of delivery of concrete from permanent concrete plants from 2 sites, with 5 other sites identified and secured, with one of these sites to be operational in the first quarter of financial year 2019.
• Increased utilisation of bulk haulage assets, with the acquisition of new combinations made to support long term contracts secured in FY18.
• New Generation Building Materials established operations in the US securing our first contract for the supply of our Composite Fibre Technology (CFT) product for a pedestrian boardwalk in Ocala City, Florida. The business continues to actively tender on other infrastructure projects domestically and in USA, UK and NZ.
• Continued progress on the international accreditation of Earth Friendly Concrete (EFC), with DIBt approval in Germany expected in the first quarter of 2019.

Wagners performance for the period has indicated strong growth and financial performance in line with expectations and the prospectus forecast.

Wagners CEO, Cameron Coleman said: “Wagners results for the financial year ending 30 June 2018 are in line with our expectations.

“We have experienced strong cement sales as a result of increased concrete consumption and increased activity in the renewable energy projects in South East Queensland. We have also seen significant improvement across the balance of the construction materials and services business compared to the previous financial year.

“During the year we have invested in our concrete strategy, haulage assets and expansion of quarry reserves and we expect to continue to invest in assets to enable our business to grow.

“We are excited by the opportunities that are presented for our New Generation Building Materials business both in CFT and EFC and we look forward to the delivery of our first pedestrian boardwalk in the United States later this year.”

Wagners Holding Company Limited held an Investor Briefing Conference Call on Wednesday, 22 August 2018 at 4:00pm.

For further information, please contact:

Karen Brown
Company Secretary
Ph. 07 3621 1131

About Wagners:
Wagners is a diversified Australian construction materials and services provider and an innovative producer of New Generation Building Materials. Established in 1989 in Toowoomba, Queensland, Wagners is now an ASX-listed operator in domestic and international markets. After starting with three trading divisions, Wagners Concrete, Quarries and Transport, Wagners now includes cement, concrete, quarries and mobile crushing, flyash, precast concrete products, bulk haulage services, reinforcing steel and composite fibre building materials.