Toowoomba-based construction industry giant Wagners Holding Company has posted a profit of a cool $22.7 million after tax and says the 2032 Olympics will bring even better times.
The 2024/25 profit was built on the back of sales of $431.3 million, mainly driven by strength in its construction materials business.
Wagners Managing Director Cameron Coleman said the group performed well during the year with improved earnings despite a decline in revenue.
“This demonstrates the growth in our two core segments, construction materials and composite fibre technologies,’’ he said.
“It’s been really pleasing to see the increasing demand for our composite power poles and the improvement in margins generated as a result of our prior capital investment in manufacturing plant and processes across the (composite fibre technologies) business.
“We expect the demand for poles to increase throughout (2025/2026) with the increase in volumes providing improved utilisation of our plant, delivering both increased revenue and earnings. “
Wagners expects overall market growth this financial year with the state ramping up construction of infrastructure needed for the 2032 Olympics and a strong residential housing construction market in South-East Queensland.
“Cement volumes are forecast to increase, particularly from Wagners’ owned plants, while gross margins delivered in FY25 may be impacted by foreign exchange fluctuations and increases in raw material costs,’’ the company said.
“The ongoing concrete plant network expansion will create increased capacity to drive volume growth with some impact to earnings in the start-up phase of new plants as they are commissioned.
The Company’s quarry volumes and margins are anticipated to increase through prior capital investment into capacity and efficiencies.
Across the composite fibre technologies segment, Wagners expects Australia and New Zealand utilities will increase their demand for composite fibre power poles and crossarms in the next year.