Aluminium extruder and distributor Capral Limited has posted its financial report for the first half of 2023, outlining strong results that went beyond expectations.
The company reported net cash of $41.2 million for the period ending 30 June 2023, net profit after tax of $16.6 million with no additional income tax benefit recognised.
“Capral has delivered a strong result in the first half of 2023 by playing to our unmatched strengths across the construction and industrial sectors,” said Tony Dragicevich, managing director and CEO of Capral.
The company enhanced its diverse industry exposure, particularly in transport and commercial construction.
“Together, with a good pipeline of work continuing in residential building, this reflected in our overall volume remaining strong,” the CEO explained.
The company’s underlying EBITDA stood at $31.7 million, which is on par with the previous period’s $31.6 million. A similar case has been seen with the company’s underlying EBIT of $20.7 million in comparison with 1H22’s $21 million.
“We have the ability to more effectively partner with customers to provide bespoke and innovative intermediary solutions through the largest footprint of manufacturing sites and distribution centres in Australia. This has allowed us to create additional higher-margin solutions to generate a favourable sales mix, and thereby maintain profitability at close to record levels,” Dragicevich said.
The company was also able to better position itself to address the forthcoming changes around energy efficiency in the National Construction Code by investing for the long-term throughout the last few years, according to the CEO.
“As Australia’s only ASI-certified aluminium extruder, and leading the industry on making its aluminium value chain more sustainable, Capral will keep building on its strengths and optimise its supply chain to meet increased demand for sustainable aluminium products due to regulation and evolving customer needs,” Dragicevich noted.
