CSR (ASX:CSR) has reported higher profits from its building products business but a loss from aluminum for the year ending March 31, its last results as a listed company. The company is being taken over by Saint-Gobain, the large global building products group based in France, for $US4.32 billion.
CSR said that its after-tax profit before one-off items edged up 7% for the year to $240 million, while its statutory result was slightly up at $231 million from $219 million in 2022-23. The improvement came despite flat revenue performance at $2.6 billion, which saw adjusted EBITDA (before one-off items) up just 1% at $332 million.
Even though building activity worsened, especially in housing, CSR reported an 8% improvement from its building products business to $294 million on an EBIT basis. CSR said the rise reflected "strategy execution with price discipline to recover higher input costs as well as improved factory efficiency and operational performance. EBIT margin of 15.5%, up from 14.9%."
Property EBIT saw a solid rise to $91 million from $72 million following the settlement of two contracted Horsley Park sales in Sydney. CSR had already flagged these deals but the $19 million lift helped partly offset the loss in the aluminum business.
CSR said its aluminum business suffered an EBIT loss of $29 million for the 12 months because of high energy costs, compared with a profit of $8 million a year ago. CSR has a 25% holding in the Tomago aluminum smelter in the Hunter Valley region of NSW.
Because of the looming close of the takeover, CSR did not declare a final dividend. Shareholders received an interim dividend of 15 cents a share late last year.
CSR(澳大利亞證券交易所股票代碼:CSR)報告稱,其建築產品業務的利潤有所增加,但截至3月31日的年度鋁業出現虧損,這是其作爲上市公司的最新業績。該公司被總部位於法國的大型全球建築產品集團聖戈班以43.2億美元的價格收購。
CSR表示,其扣除一次性項目的稅後利潤同比增長7%,達到2.4億美元,而其法定業績從2022-23年的2.19億美元略有增長至2.31億美元。儘管收入表現持平,爲26億美元,但還是出現了改善,調整後的息稅折舊攤銷前利潤(不計一次性項目)僅增長了1%,達到3.32億美元。
儘管建築活動惡化,尤其是在住房方面,但CSR報告稱,按息稅前利潤計算,其建築產品業務增長了8%,達到2.94億美元。CSR表示,上漲反映了 “在價格紀律下執行戰略,以收回更高的投入成本以及工廠效率和運營績效的提高。息稅前利潤率爲15.5%,高於14.9%。”
在悉尼霍斯利公園的兩筆合同銷售達成和解後,房地產息稅前利潤從7200萬美元穩步增長至9,100萬美元。企業社會責任已經宣佈了這些交易,但1900萬美元的增幅在一定程度上抵消了鋁業務的虧損。
CSR表示,由於高昂的能源成本,其鋁業務在12個月中遭受了2900萬美元的息稅前利潤虧損,而去年同期的利潤爲800萬美元。CSR持有位於新南威爾士州獵人谷地區的Tomago鋁冶煉廠25%的股份。
由於收購即將結束,企業社會責任沒有宣佈末期股息。去年年底,股東獲得了每股15美分的中期股息。