Skellerup Holdings Limited Analysis

Overview

Founded more than 100 years ago, Skellerup maintains its headquarters in New Zealand, with operations in North America, Asia, Europe, Australia and New Zealand.

Skellerup designs, manufactures and sells engineered polymer products and vacuum systems for customers in dairy rubberware, water and related infrastructure, roofing, plumbing, automotive, mining, sporting, health and a range of other applications.

Performance

The following information was extracted from Skellerup Holdings Limited's Full Year results, released on 15 August 2024:

Highlights for the year ending 30 June 2024

• Revenue of $330.6 million, down 1% on the prior comparative period (pcp)
• EBIT of $72.7 million, a record result, up 1% on the pcp
• Industrial Division’s EBIT of $46.9 million, a record result, up 9% on the pcp
• Agri Division’s EBIT of $30.7 million, down 10% on the pcp
• Underlying net profit after tax (NPAT) of $50.0 million, down 2% on the pcp
• NPAT of $46.9 million, after deducting a non-recurring, non-cash tax charge required for the change in legislation in New Zealand to

remove tax depreciation deductions on buildings

• Operating cash flow of $70.8 million, a record result, up 31% on the pcp
• Net debt of $15.4 million, down 43% on the pcp
• Final dividend of 15.5 cents per share (cps) (50% imputed), bringing the total FY24 dividend to 24.0 cps (50% imputed) for the full year,

up 9% on the pcp