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 31 December 2024:

• Revenue of $165.3 million, up 5% on the pcp
• Earnings before interest and tax (EBIT) of $35.0 million, a record result and up 11% on the pcp

o Industrial Division EBIT of $22.4 million, down 2% on the pcp

o Agri Division EBIT of $15.5 million, up 31% on the pcp

o Corporate costs of $2.9 million, down 7% on the pcp

• Net profit after tax (NPAT) of $24.2 million, a record result and up 12% on the pcp
• Operating cash flow of $32.2 million, down $4.3 million on the pcp
• Net debt of $20.4 million, a $6.0 million reduction on the prior half year
• Interim dividend of 9.0 cents per share (an increase of 0.5 cps), up 6% on the pcp