Boom Logistics is Australia’s leading provider of complex lifting and project logistics solutions, specialising in equipment, engineering services and workforce solutions to a diversified range of industry projects.
Boom is playing a key role in supporting Australia’s critical infrastructure development, renewable energy transition and resource extraction projects.
The company is a leader in delivering technically innovative outcomes with a focus on safety, customer value, operational efficiency and sustainability.
Boom Logistics recently released its half yearly report to shareholders, which saw an update to Boom’s guidance for the 2024-25 financial year (FY25).
Revenue growth was driven by strong project activity particularly with wind farms and transmission lines, with a focus on delivering double digit returns on net assets to shareholders.
EBITDA increased due to improved margins, tight cost controls, and operational optimisation.
A rise in operational net profit after tax (NPAT) was driven by successful implementation of Boom’s strategic plan.
FY25 NPAT guidance of $9m is up 36 per cent on FY24, and nearing double-digit return on net assets, with shares trading at a 45 per cent discount to the $2.77 per share net tangible assets (NTA).
“A combination of renewables and transmission line project growth, investment into key company assets and the continued delivery of our key initiatives, has delivered an improved H1 FY25 result,” Boom Logistics chief executive officer Ben Pieyre said.
“The energy transition in Australia is well underway and Boom is a partner of choice to help with the shift. This is reflected in the strong demand across two of our core sectors of renewables and industrials.
“Boom’s robust operational performance, healthy cash flow and improved balance sheet position, coupled with significant contract wins in key markets, sets the company up for further growth across H2 FY25 and into FY26.
“As a result, we have upgraded our FY25 full year guidance to operational NPAT to $9 million and statutory NPAT at $23 million.”
Operational highlights included no lost time injuries (LTIs) and a total recordable injury frequency rate (TRIFR) of 5 per million hours worked, operational labour efficiency of 86 per cent, and asset utilisation of 87 per cent by investing in key assets for core customers
Boom continues to execute key initiatives delivering an improvement in the company’s operational performance and statutory key performance indicators.
This includes, improving returns and delivering value for shareholders, creating a sustainable future by focusing on key segments and customers.
The company’s balance sheet is strengthening through improved asset investments and is in a strong position to benefit from significant growth opportunities in the renewables and infrastructure markets.
The FY25 priorities focus on optimising resource and asset efficiencies to drive improved profitability and cash generation.
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