RESULTS CENTRE (FY 2025)

Financial Highlights

	FY 2025 (US$)	FY 2024 (US$)	% Change
Revenue	88.9m	109.2m	-19%
Adjusted EBITDA^(1,2)	17.5m	27.7m	-37%
Adjusted EBITDA margin^(1,2)	20%	25%	-500 bps
Profits before tax	15.2m	23.8m	-36%
Adjusted net income^(1,3)	11.1m	18.6m	-40%
Diluted adjusted net income per share^(1,3)	0.20	0.33	-39%
Cash flow from operations	17.9m	17.6m	2%
Net cash⁽⁴⁾	33.2m	29.5m	13%
Ordinary dividend per share	10.2c	16.9c	-40.0%

Strong end to 2025 as anticipated: trading and profitability were in line with revised market expectations, supported by seasonality and new product contribution
- North America H2 revenue +14% vs H1
- Europe H2 revenue +55% vs H1
- Australia H2 revenue +58% vs H1

Innovation delivered meaningful revenue: new and next-generation products contributed US$ 13.0m revenue
Disciplined action to protect profitability: cost measures helped offset lower revenues and support EBITDA margin
Operating cashflow improved: driven by higher advance customer deposits, benefits from new US tax legislation, and lower capex and interim dividend payout
Continued returns to shareholders
- Paid US$ 9.3m in dividends (2024: US$ 15.8m)
- US$ 2.6m share buy-back (2024: US$ 2.6m)

Operational Highlights

New leadership embedded: Tim Averkamp as CEO, Bob Scheuer as Chairman
New product launches: SRS-4e (first electric-powered Boomed Laser Screed), Hammerhead (Ride-on), S-15EZ (next-generation mid-sized Boomed Screed)
Strategy in action: refreshed long-term strategy built on three pillars translated into a concise plan and an operating cadence that turns priorities into results

Post-Period Highlights

Solid start to FY 2026: customers report improved activity and healthy backlogs, whilst remaining cautious
Strong product pipeline: multiple new product launches planned, including the next-generation flagship Boomed screed and a new walk-behind screed
European foothold strengthened: Somero Concrete Institute launched in Belgium, bringing access to training in line with the US and supporting aftermarket growth
Disciplined returns and capital allocation:
- Final FY 2025 dividend of 6.2 cents per share, taking total ordinary dividends for FY 2025 to US$ 5.5m (including interim)
- New share buyback program authorized for up to US$ 4m, to offset equity award dilution and fund opportunistic repurchases
FY 2026 outlook unchanged: revenue, profitability, and cash generation expected to be broadly comparable to 2025

Notes:

The Company uses non-US GAAP financial measures to provide supplemental information regarding the Company’s operating performance. See further information regarding non-GAAP measures below.
Adjusted EBITDA as used herein is a calculation of the Company’s net income plus tax provision, interest expense, interest income, foreign exchange loss, other expense, depreciation, amortization stock-based compensation and non-cash lease expense.
Adjusted net income as used herein is a calculation of net income plus amortization of intangibles and excluding the tax impact of stock option and RSU settlements and other special items.
Net cash is defined as cash and cash equivalents less borrowings under bank obligations exclusive of deferred financing costs.